# UBL (UBL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/ubl

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,251.5
- Change: +2.85%
- As of: 2026-09-18
- 1D return: +2.85%
- 5D return: -0.41%
- 1M return: -6.50%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, the stock is trading at ₹1251.5, indicating a bearish technical stance across daily and weekly timeframes, while the monthly timeframe shows a bullish trend. Daily indicators reveal the price is below key moving averages including the 20-day EMA (₹1283.49) and 50-day EMA (₹1327.2), with a Supertrend indicator also signaling bearish conditions at ₹1316.8. This is consistent with the weekly view where the price is below its 20-week EMA (₹1362.75) and 50-week EMA (₹1504.54), and the weekly Supertrend is bearish at ₹1434.61. However, the monthly timeframe presents a conflicting signal, with the price below its 20-month EMA (₹1614.45) and 20-month SMA (₹1672.37), but above the monthly Supertrend at ₹1110.34, suggesting potential underlying strength despite short-term weakness. The stock is currently trading near its nearest support level of ₹1249.27, which is approximately 0.18% below the current price. The nearest resistance is at ₹1259.03, about 0.6% above the current price. The stock has experienced recent unusual price movements, including a high-severity upward move of 3% on September 18, 2026, and a high-severity downward move of 3% on September 8, 2026. The annualized volatility stands at 22%, with a current drawdown of -44% and a maximum drawdown of -46%.

- Current price on September 18, 2026: ₹1251.5.
- Nearest support level: ₹1249.27 (approx. 0.18% below current price).
- Nearest resistance level: ₹1259.03 (approx. 0.6% above current price).
- Daily and weekly timeframes show bearish trends, while the monthly timeframe is bullish.
- Watch for a sustained break above ₹1259.03 resistance or a fall below ₹1249.27 support for potential trend confirmation.

- Bearish Engulfing Reversal
- Outside Bar
- Doji
- Shooting Star
- Inside Bar
- Harami

### News Context

The Indian beer market is experiencing a shift towards premium and super-premium brands, with brewers identifying these segments as key growth drivers. This trend suggests a potential opportunity for companies offering higher-value products as consumer preferences evolve. The provided information highlights a broader market dynamic rather than specific company announcements.

- As of September 14, 2026, reports indicate that India's beer market is seeing a trend where consumers are 'trading up' to premium and super-premium brands.
- Brewers view the premium and super-premium segments as the next significant engine for growth within the Indian beer industry.

- India’s beer boom gets a premium twist as drinkers trade up | Company Business News

### What Changed

United Breweries (UBL) traded at ₹1251.5 on September 18, 2026, an increase from its previous price of ₹1216.8. This marks a recent upward movement in the stock's price. The company's common name and listing on the NSE remain unchanged.

- On September 18, 2026, United Breweries (UBL) was trading at ₹1251.5.
- The previous trading price for UBL was ₹1216.8.
- The company continues to be listed on the NSE.

### Official Filings

United Breweries Limited (UBL) has made several significant disclosures. On September 4, 2026, the company reported a favorable outcome in a service tax dispute, with the High Court of Judicature at Bombay (Aurangabad Bench) dismissing the Revenue's appeal. This ruling effectively eliminated a contingent liability of ₹21.92 crore related to the period from September 2009 to November 2011. In operational updates, UBL announced on September 1, 2026, an investment of ₹110 crore to commission a new canning line at its Ellora Brewery in Maharashtra. This facility is expected to enhance production capacity for brands like Kingfisher Strong and support growing demand for canned beverages. Additionally, the company launched Heineken® Silver, a premium mild lager, in domestic markets on August 25, 2026, and expanded its availability to Kerala, Odisha, and Madhya Pradesh on the same date, aiming to cater to consumers seeking premium offerings. UBL also held its 27th Annual General Meeting on August 12, 2026, where shareholders approved all resolutions, including the adoption of financial statements for the year ended March 31, 2026, the declaration of a dividend, and the re-appointment of directors and auditors.

- On September 4, 2026, UBL announced a favorable High Court order that removed a contingent liability of ₹21.92 crore related to a service tax dispute.
- On September 1, 2026, UBL disclosed a ₹110 crore investment for a new canning line at its Ellora Brewery, aimed at increasing capacity and productivity.
- On August 25, 2026, UBL launched Heineken® Silver in domestic markets and expanded its availability to Kerala, Odisha, and Madhya Pradesh.
- At the Annual General Meeting on August 12, 2026, shareholders approved financial statements for the year ended March 31, 2026, and a dividend declaration.
- The company announced a closure of its trading window from September 21, 2026, to consider financial results for the quarter and year to date ended September 30, 2026.

- UNITED BREWERIES LIMITED has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL
- United Breweries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window
- United Breweries Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company |SUBJECT: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
- United Breweries Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation
- United Breweries Limited has informed the Exchange regarding a press release dated September 01, 2026, titled "United Breweries Limited - Set to Commission New Canning Line at Ellora Brewery, strengthening Kingfisher Growth in Maharashtra". |SUBJECT: Press Release
- UNITED BREWERIES LIMITED has informed the Exchange about Product launch (Sub-para 3-Para B) |SUBJECT: Product launch (Sub-para 3-Para B)
- United Breweries Limited has informed the Exchange about Product launch |SUBJECT: Product launch
- United Breweries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 12, 2026. Further, the company has informed the Exchange regarding voting results. |SUBJECT: Shareholders meeting
- United Breweries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 12, 2026 |SUBJECT: Shareholders meeting
- United Breweries Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates

### Fundamentals

United Breweries (UBL) reported a notable increase in revenue from operations for the first quarter of fiscal year 2026-27 (Q1 FY2026-27), reaching ₹5,919.44 crore. This represents a significant sequential jump from the ₹4,408.41 crore reported in the preceding quarter (Q4 FY2025-26) and the ₹3,936.99 crore from Q3 FY2025-26. The company's expenses also rose in line with revenue, totaling ₹5,745.66 crore in Q1 FY2026-27. Profit before tax showed a strong recovery, increasing to ₹224.49 crore in Q1 FY2026-27, compared to ₹116.32 crore in Q4 FY2025-26 and ₹132.29 crore in Q3 FY2025-26. Consequently, profit for the period also saw a substantial increase, reaching ₹166.28 crore in Q1 FY2026-27, up from ₹101.87 crore in Q4 FY2025-26 and ₹81.15 crore in Q3 FY2025-26. The tax expense for Q1 FY2026-27 was ₹58.21 crore.

- Revenue from operations for Q1 FY2026-27 was ₹5,919.44 crore.
- Expenses in Q1 FY2026-27 were ₹5,745.66 crore.
- Profit Before Tax for Q1 FY2026-27 stood at ₹224.49 crore.
- Profit for the period in Q1 FY2026-27 was ₹166.28 crore.
- Tax expense for Q1 FY2026-27 was ₹58.21 crore.

### Bull Case

The company operates within a market context where beer consumption is reportedly increasing, with a notable trend towards premium and super-premium brands. This shift suggests a potential avenue for growth as consumers trade up. While recent technical indicators show a bearish daily and weekly trend, the monthly trend exhibits a bullish supertrend signal, indicating a potentially more positive long-term outlook.

- The beer market in India is experiencing growth, with a trend towards premiumization, as noted in recent market commentary.
- The monthly technical trend shows a bullish supertrend signal as of 2026-09-18, suggesting a potentially positive longer-term indicator.
- The stock's closing price on 2026-09-18 was ₹1251.5.

- India’s beer boom gets a premium twist as drinkers trade up | Company Business News

### Bear Case

The company's technical indicators suggest a weakening trend. Daily and weekly trend analyses indicate a bearish SuperTrend direction, with the price trading below key moving averages like the 20-day and 50-day Exponential Moving Averages (EMA). The 20-day EMA slope is negative on both daily and weekly timeframes, indicating a downward momentum. Recent performance also shows a decline, with a 1-year return of -30% and a year-to-date return of -22%. The stock is experiencing a significant drawdown of -44%, with a maximum drawdown reaching -46%, highlighting considerable volatility and potential downside risk.

- The daily SuperTrend direction is bearish as of 2026-09-18.
- The 20-day EMA slope on the daily chart is -29.46, indicating a negative short-term trend.
- The 1-year return for the stock was -30% as of 2026-09-18.
- The current drawdown stands at -44%, with a maximum drawdown of -46%.

- India’s beer boom gets a premium twist as drinkers trade up | Company Business News

### FAQs

**What is the company's recent investment in expanding its production capacity?**

On September 1, 2026, United Breweries Limited announced a ₹110 crore investment to commission a new canning line at its Ellora Brewery in Maharashtra. This facility is expected to be operational in September 2026, subject to statutory approvals, and will have a capacity of 40,000 cans per hour. The investment aims to meet growing demand for cans, support premiumization, and enhance manufacturing productivity.

**Has the company resolved any significant litigation that could impact its liabilities?**

Yes, on September 4, 2026, United Breweries Limited received a favorable order from the High Court of Judicature at Bombay (Aurangabad Bench) regarding a service tax dispute. The court dismissed the Revenue's appeal, confirming that the ₹21.92 crore demand for September 2009 to November 2011 was time-barred. As a result, the company's contingent liability related to this litigation has been reduced from ₹21.92 crore to nil.

**What is the current technical trend for United Breweries Limited based on recent data?**

As of September 18, 2026, the daily and weekly technical trends for United Breweries Limited are indicated as bearish. The daily trend shows the closing price of ₹1251.5 is below the 20-day Exponential Moving Average (EMA) of ₹1283.49 and the 50-day EMA of ₹1327.2. The weekly trend also shows a bearish SuperTrend direction with a value of ₹1434.61, and the closing price is below both the 20-day EMA (₹1362.75) and 50-day EMA (₹1504.54) on a weekly basis. However, the monthly trend is indicated as bullish, with the SuperTrend at ₹1110.34 and the closing price above the 20-day EMA (₹1614.45).

**What are the recent returns for United Breweries Limited?**

As of September 18, 2026, United Breweries Limited has experienced varied returns across different periods. The 1-year return was -30%, and the year-to-date return was -22%. Over the last 6 months, the return was -23%, and over the last 3 months, it was -7%. The 1-month return was -8%, and the return since the start of trading was -40%.

- India’s beer boom gets a premium twist as drinkers trade up | Company Business News
- UNITED BREWERIES LIMITED has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL
- United Breweries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window
- United Breweries Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company |SUBJECT: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
- United Breweries Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation
- United Breweries Limited has informed the Exchange regarding a press release dated September 01, 2026, titled "United Breweries Limited - Set to Commission New Canning Line at Ellora Brewery, strengthening Kingfisher Growth in Maharashtra". |SUBJECT: Press Release
## Technical analytics

- As of: 2026-09-18
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹1,223.27
- Risk regime: Higher Price Risk

### Support levels
- 1249.2666666666667
- 1233.0333333333333
- 1207.0333333333333

### Resistance levels
- 1363.65
- 1779.1
- 1817.5

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +2.85% |
| return_10 | -2.55% |
| return_1m | -7.67% |
| return_1y | -30.45% |
| return_20 | -6.50% |
| return_3m | -6.69% |
| return_5 | -0.41% |
| return_6m | -22.65% |
| return_since_start | -40.19% |
| return_ytd | -22.18% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -45.65% |
| annualized_volatility | +22.36% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Up 10% but Net Profit Drops 9.6% as Cost Growth Outpaces Sales

United Breweries Limited reported results for the quarter ended June 30, 2026 (FY2026-27 Q1). Revenue from operations increased 10% year-over-year to ₹5,919.44 crore, reflecting peak summer demand. However, total expenses grew at a faster 11.7% to ₹5,745.66 crore, compressing operating margins. Net profit fell 9.65% to ₹166.28 crore, and earnings per share declined from ₹6.95 to ₹6.29.

## Revenue and Seasonal Pattern

Revenue from operations for the quarter was ₹5,919.44 crore, up 10.01% from ₹5,380.78 crore in the corresponding period last year. Sequentially, revenue rose 34.28% from ₹4,408.41 crore in the preceding quarter. This quarter represents the highest revenue of the fiscal year, consistent with the seasonal pattern observed in the prior fiscal year.

## Expense Growth and Margin Compression

Total expenses for the quarter were ₹5,745.66 crore, an increase of 11.70% from ₹5,143.97 crore a year earlier. This growth outpaced revenue expansion by 1.7 percentage points. Consequently, the expense-to-revenue ratio rose from 95.6% to 97.1%, compressing profitability.

Profit before tax declined 9.44% to ₹224.49 crore from ₹247.88 crore. The absolute increase in expenses (₹601.69 crore) exceeded the absolute increase in revenue (₹538.66 crore) by ₹63.03 crore. The actual decline in pre-tax profit was smaller at ₹23.39 crore, indicating that other income partially offset the cost pressure. Other income for the current quarter stood at ₹50.71 crore.

## Finance Costs

Finance costs doubled year-over-year, rising from ₹11.17 crore to ₹23.04 crore, an increase of 106.27%. While the absolute amount remains modest relative to total revenue and expenses, the sharp rise added to the overall cost increase.

## Profitability and Earnings Per Share

Net profit for the period was ₹166.28 crore, down 9.65% from ₹184.03 crore in the prior-year quarter. The effective tax rate remained stable at roughly 25.9% versus 25.8% a year ago. Basic earnings per share fell from ₹6.95 to ₹6.29, a decline of 9.5%, consistent with the drop in net profit.

## Comprehensive Income

Total comprehensive income for the quarter was ₹166.05 crore, down 15.19% from ₹195.79 crore in the prior year. The decline was larger than the net profit contraction because other comprehensive income swung from a positive ₹11.76 crore to a negative ₹0.23 crore, a net movement of approximately ₹12 crore.

## Management Commentary

United Breweries reported strong Q1 FY27 results with sell-out volumes up 13% and premium volumes growing 17% excluding war-impacted states. CEO Vivek Gupta highlighted that the beer revolution has started in India, driven by policy reforms in Karnataka, Maharashtra, Jharkhand, and Andhra Pradesh. Despite a -300bps gross margin impact from the Middle East war, the company's recovery program delivered a 41.0% gross margin and EBITDA of 10.9% (-35bps YoY but improved from 6.5% in the prior quarter). Premium margins turned accretive for the first time due to localisation and improved execution. Free operating cash flow improved 38% to ₹548 crore.

Management expects inflationary pressures on costs to persist and remains focused on disciplined pricing, rigorous cost management, and productivity to protect margins. The outlook for the Indian beer industry remains attractive, supported by premiumisation, favourable demographics, and increasing consumer preference for beer. UBL will continue to drive category growth, strengthen its portfolio through innovation, and advocate for policies supporting sustainable industry growth. With disciplined capital allocation, the company is well positioned to capture long-term opportunities.

## Key Takeaway

United Breweries reported a 10% rise in revenue to ₹5,919.44 crore for the June quarter, supported by peak summer demand. Total expenses grew at a faster 11.7% to ₹5,745.66 crore, compressing margins and driving a 9.65% decline in net profit to ₹166.28 crore. A sharp rise in finance costs and a reversal in other comprehensive income further widened the gap between top-line performance and bottom-line results.

### Ratios

## Official filings

- 2026-09-15 — Generic Announcement: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_2772_WebXMLFile_20260915_173912387.xml)
- 2026-09-15 — Generic Announcement: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_15092026173604_IntimationTradingWindowSeptember2026.pdf)
- 2026-09-04 — Litigation Disclosure: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_04092026221801_DisclosuresHighCourtMBIL2026.pdf)
- 2026-09-02 — Earnings Presentation: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_02092026164708_IntimationCapitalMarketDay2026Presentation.pdf)
- 2026-09-01 — Press Release: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_01092026114918_UBLDisclosureCapacityAddition2026.pdf)
- 2026-08-25 — Generic Announcement: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2772_WebXMLFile_20260825_174104512.xml)
- 2026-08-25 — Generic Announcement: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_25082026172816_DisclosureMaterialEventHeinekenSilver25082026.pdf)
- 2026-08-13 — Generic Announcement: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_13082026174634_OutcomeofAGMvotingandScrutinizer2026.pdf)
- 2026-08-12 — Generic Announcement: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_12082026190520_OutcomeAGMProceeding.pdf)
- 2026-08-10 — Generic Announcement: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_10082026150708_IntimationTranscriptJune2026.pdf)
- 2026-08-10 — Generic Announcement: United Breweries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2772_WebXMLFile_20260810_152030345.xml)
- 2026-08-07 — Generic Announcement: United Breweries Limited published newspaper advertisements on August 6, 2026, in The Financial Express and Kannada Prabha, announcing the standalone and consolidated financial results for the quarter ended June 30, 2026. The results include total income from operations of ₹5,96,809 (standalone) and ₹5,97,015 (consolidated), and net profit after tax of ₹19,547 (standalone) and ₹19,579 (consolidated). — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_07082026112723_IntimationNewspaperAdvertisementFRJune202606082026.pdf)
- 2026-08-05 — Generic Announcement: United Breweries Limited has made available the audio recording of its earnings call for the quarter ended June 30, 2026. This recording, hosted on August 05, 2026, can be accessed via a weblink on the company's website and a provided URL. — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_05082026183201_IntimationAudioLinkJune2026.pdf)
- 2026-08-05 — Official Filing: United Breweries Limited has disclosed an audio recording of their Q1 FY26-27 financial results call, which took place on August 5, 2026. The recording was uploaded to the company's website on August 5, 2026, at 17:51:00. Prior intimation of the earnings call was provided to the exchange on July 22, 2026.
- 2026-08-04 — Generic Announcement: United Breweries Limited's Board of Directors approved the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, on August 4, 2026. The company reported a 13% increase in sell-out volumes and a 7% growth in net sales, driven by volume increases and price adjustments, despite a 300 basis point impact on gross profit margin due to Middle East war headwinds. Free operating cash flow improved by 38% to ₹548 crore, supported by disciplined working capital management. — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_04082026203654_IntimationUnauditedFinancialResults30062026.pdf)
- 2026-08-04 — Earnings Presentation: United Breweries Limited will host a Q1 FY2027 Earnings Call on August 5, 2026, following the announcement of its unaudited financial results for the quarter ended June 30, 2026. An investor presentation detailing these results is available via a weblink and on the company's website. — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_04082026213858_IntimationInvestorCallPresentationJune2026.pdf)
- 2026-07-22 — Generic Announcement: United Breweries Limited corrected the registration link for its Q1 FY2026-27 financial results earnings call, which was inadvertently directing to the previous quarter's call. The earnings call for the quarter ended June 30, 2026, will still be held on Wednesday, August 05, 2026, at 03:00 p.m. IST. Managing Director & CEO Vivek Gupta and CFO Jorn Elimar Kersten will host the call. — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_22072026120907_RevisedIntimationInvestorCallJune2026.pdf)
- 2026-07-22 — Official Filing: United Breweries Limited will hold a Financial Earnings Conference Call for Q1FY2026-27 on August 5, 2026, at 15:00 IST in Bengaluru. The virtual group meeting with Group Investors will discuss Q1 Results. A registration link and contact details for Santosh Rajput are provided.
- 2026-07-21 — Generic Announcement: United Breweries Limited will hold an investors/analysts call on August 5, 2026, at 3:00 PM IST to discuss the unaudited financial results for the quarter ended June 30, 2026 (Q1 FY2026-27). The call will be hosted by the Managing Director & Chief Executive Officer and the Director & Chief Financial Officer. Details are available on the company's website. — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_21072026152120_UBLFinancialEarningCallJune2026.pdf)
- 2026-07-21 — Generic Announcement: United Breweries Limited has completed the dispatch of the Notice of the 27th Annual General Meeting and the Integrated Annual Report for the financial year 2025-26 to its shareholders. The AGM will be held on August 12, 2026, via video conference. The company also announced a record date of August 7, 2026, for a proposed dividend of ₹10 per equity share, with payment expected by September 10, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_21072026155745_IntimationNewspaperAdvPostDispatchIAR2026.pdf)
- 2026-07-21 — Generic Announcement: United Breweries Limited informed on July 21, 2026, that Dividend Distribution Tax has been abolished and dividend income is now taxable in the hands of shareholders. The company will deduct tax at source on dividends, if declared, for the financial year 2025-26. Shareholders are advised to submit tax exemption forms by August 5, 2026, ahead of the Annual General Meeting on August 12, 2026, where a dividend of ₹10 per equity share is proposed. — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_21072026185113_IntimationTDSInstructionFY2026.pdf)
- 2026-07-21 — Official Filing: United Breweries Limited will hold a virtual Q1FY2026-27 Financial Earnings Quarterly Call on August 5, 2026, at 15:00 IST. The meeting, scheduled for the general public, investor shareholders, and analysts, will take place in Bengaluru and focus on Q1 results. Santosh Rajput can be contacted for details.
- 2026-07-20 — Generic Announcement: United Breweries Limited will hold its 27th Annual General Meeting on August 12, 2026, via video conferencing. The company has submitted its Integrated Annual Report for the Financial Year 2025-2026 and the Notice of the AGM, dated May 29, 2026. Remote e-voting will be open from August 9, 2026, to August 11, 2026, for members as of August 5, 2026. Resolutions include adopting the FY2026 financial statements, declaring a dividend, appointing a director, re-appointing auditors, and increasing borrowing limits. — [Official attachment](https://nsearchives.nseindia.com/corporate/UBLSJR_20072026170719_IntimationAGMNoticeIntegratedAnnualReport.pdf)
- 2026-07-20 — Official Filing: UNITED BREWERIES LIMITED will hold its 27th Annual General Meeting on August 12, 2026, in Bengaluru, conducted via Video Conference or Other Audio-Visual Means. The agenda includes adopting the Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2026, declaring a dividend of Rs. 10 per equity share, re-appointing Director Radovan Sikorsky, and re-appointing B S R & Co. LLP as statutory auditors for a term of five years from August 12, 2026, to August 11, 2031. Additionally, the company seeks approval to increase its borrowing limits to Rs. 4,000 Crore.

## News and market events

- 2026-09-14 — Mint: **India’s beer boom gets a premium twist as drinkers trade up | Company Business News** — Beer is closing the gap with spirits, with brewers seeing premium and super-premium brands as the next engine of growth. — [Source](https://www.livemint.com/companies/news/indias-beer-boom-gets-a-premium-twist-as-drinkers-trade-up-alcohol-market-spirits-11789236602300.html)
- 2026-09-11 — MONEYCONTROL: **Vijay Mallya continues to evade Indian law, recovery of assets doesn't absolve him: Enforcement Directorate to Bombay High Court** — Vijay Mallya, Enforcement Directorate, ED, Bombay High Court, money laundering case, PMLA, Kingfisher Airlines, SBI consortium, bank loan recovery, Vijay Mallya assets, Rs 14,131 crore assets, Rs 9,000 crore loans, United Breweries Holdings, UBHL, proclaimed offender, Prevention of Money Laundering Act — [Source](https://www.moneycontrol.com/news/business/vijay-mallya-continues-to-evade-indian-law-recovery-of-assets-doesn-t-absolve-him-enforcement-directorate-to-bombay-high-court-14028149.html)
- 2026-09-07 — Mint: **United Breweries raises the bar with a new growth recipe. Now it has to deliver** — United Breweries is betting on improving state mix, portfolio mix and productivity, instead of relying on volume-led operating leverage. Will the new plan work for the Heineken and Kingfisher owner? — [Source](https://www.livemint.com/market/mark-to-market/united-breweries-share-price-alcohol-market-india-ubl-stock-heineken-kingfisher-11788762180918.html)
- 2026-09-07 — BUSINESSTODAY: **Adani Power, Samman, IMFA, UBL, Emcure among stocks with fresh brokerage interest for upto 140% rise** — Adani Power target price, Physicswallah target price, SEAMEC target price, UBL target price, Emcure Pharma target price, Cera Sanitary target price, Kissht target price, IMFA target price, Leela Hotels target price, Apollo Micro target price, Sammaan Capital target price, Adani Power, Physicswallah, SEAMEC, United Breweries, Emcure Pharmaceuticals, Cera Sanitaryware, OnEMI Technology Solutions, Indian Metals & Ferro Alloys, Leela Palaces Hotels & Resorts, Apollo Micro Systems, Sammaan Capital, Adani Power target price, Physicswallah target price, SEAMEC target price, UBL target price, Emcure Pharma target price, Cera Sanitary target price, Kissht target price, IMFA target price, Leela Hotels target price, Apollo Micro target price, Sammaan Capital target price, Motilal Oswal, Choice Institutional Equities, ICICIDirect Research, JM Financial, 360 One Capital, Antique Stock Broking, Systematix Institutional Equities, Ventura — [Source](https://www.businesstoday.in/markets/stocks/story/adani-power-samman-imfa-ubl-emcure-among-stocks-with-fresh-brokerage-interest-for-upto-140-rise-553571-2026-09-07)
- 2026-09-06 — Economic Times: **Glass, PET keep spirits high amid can shortage** — Indian beverage firms are increasingly using glass and PET bottles for packaging. This shift occurs as the West Asia conflict disrupts aluminium can supplies and raises costs. Aluminium can prices have risen by at least twenty percent due to these global issues. Beer makers report stronger demand for glass bottles when cans are unavailable. Companies are securing materials in advance amid ongoing global uncertainties. — [Source](https://economictimes.indiatimes.com/industry/cons-products/fmcg/glass-pet-keep-spirits-high-amid-can-shortage/articleshow/133848577.cms)
- 2026-09-04 — The Hindu: **UBL slips after Capital Markets Day as analysts stay divided on margin timeline** — At current levels, UBL trades at a trailing price-to-earnings of 85.82x, with a total market cap of approximately ₹33,815 crore and a free float market cap of around ₹9,206 crore — [Source](https://www.thehindubusinessline.com/markets/stock-markets/ubl-slips-after-capital-markets-day-as-analysts-stay-divided-on-margin-timeline/article71427416.ece)
- 2026-09-01 — Economic Times: **UBL sees positive demand momentum in Q2, invests Rs 110 cr in Maharashtra brewery** — United Breweries Ltd reports positive demand momentum in the current quarter. The company maintains its double-digit revenue growth outlook for FY27. Premium brands are expected to grow over twenty percent this fiscal year. New canning line investment will enhance production flexibility in Maharashtra. Cost pressures from ongoing disruptions are estimated at Rs 300-350 crore. — [Source](https://cfo.economictimes.indiatimes.com/news/corporate-finance/ubl-sees-positive-demand-momentum-in-q2-invests-rs-110-cr-in-maharashtra-brewery/133680574)
- 2026-09-01 — BUSINESS: **United Breweries commissions new canning line at its Ellora Brewery** — With capacity of 40,000 cans per hour — [Source](https://www.business-standard.com/markets/capital-market-news/united-breweries-commissions-new-canning-line-at-its-ellora-brewery-126090101112_1.html)
- 2026-09-01 — CNBC-TV18: **United Breweries to invest ₹110 crore on new canning line to boost beer production in Maharashtra** — United Breweries said that the facility will initially manufacture cans of Kingfisher Strong, Kingfisher Premium, Bullet Strong and London Pilsner for the Maharashtra market. — [Source](https://www.cnbctv18.com/market/united-breweries-share-price-rs-110-crore-canning-line-ellora-brewery-maharashtra-19981293.htm)
- 2026-08-26 — Economic Times: **UBL’s Delhi beer business crosses Rs 250 crore run rate after distribution shift** — United Breweries' beer business in Delhi has exceeded a revenue run rate of Rs 250 crore, helped by an operational shift to Adie Broswon Distribution. The popular Kingfisher Strong has sold over one million cases, contributing to the company's total beer volume of 1.5 million cases in Delhi for the fiscal year 2025-26. — [Source](https://economictimes.indiatimes.com/industry/cons-products/liquor/ubls-delhi-beer-business-crosses-rs-250-crore-run-rate-after-distribution-shift/articleshow/133538398.cms)
- 2026-08-26 — MONEYCONTROL: **Price Action | Advait Energy up 4% on Rs 134cr contract win; Rainbow Children shares fall on CFO resignation** — Buzzing Stocks — [Source](https://www.moneycontrol.com/news/business/stocks/price-action-advait-energy-up-4-on-rs-134cr-contract-win-rainbow-children-shares-fall-on-cfo-resignation-14015350.html)
- 2026-08-26 — CNBC-TV18: **United Breweries shares rise as it announces expansion of Heineken Silver across three states** — United Breweries said consumer demand for premium and international beer experiences continues to grow and the strong response to Heineken Silver in the existing markets reflects the evolving preferences. — [Source](https://www.cnbctv18.com/market/united-breweries-share-pice-heineken-silver-alcohol-beer-expansion-kerala-odisha-madhya-pradesh-19977127.htm)
- 2026-08-26 — BUSINESS: **Stock Alert: Cipla, Varun Beverages, TMPV, United Breweries,Sai Parenterals** — Gaja Alternative Asset Management will list on the stock exchanges today. The IPO was subscribed 31.33 times. The offer received bids for 79.35 crore shares as against 2.53 crore shares on offer. The issue opened for bidding on 19 August 2026 and it closed on 21 August 2026. — [Source](https://www.business-standard.com/markets/capital-market-news/stock-alert-cipla-varun-beverages-tmpv-united-breweries-sai-parenterals-126082600142_1.html)
- 2026-08-26 — BUSINESSTODAY: **Top stocks in news: Groww, Welspun Corp, Gaja Capital, TMPV, Cipla, NBCC, HindCopper, UCO Bank, UPL** — Stocks in news, Stocks in buzz, Stocks to buy, Stocks to watch, Groww, Welspun Corp, Gaja Capital, Tata Motors PV, Cipla, NBCC, Hindustan Copper, UCO Bank, Sai Parenterals, Honasa Consumer, Gaja Alternative Asset Management, Billionbrains Garage Ventures, Varun Beverages, United Breweries, Advait Energy Transitions, ARSS Infrastructure Projects — [Source](https://www.businesstoday.in/markets/stocks/story/top-stocks-in-news-groww-welspun-corp-gaja-capital-tmpv-cipla-nbcc-hindcopper-uco-bank-upl-551349-2026-08-26)
- 2026-08-25 — BUSINESS: **United Breweries expands Heineken Silver Across Kerala, Odisha and Madhya Pradesh** — Vikram Bahl, Chief Marketing Officer, United Breweries, said, The positive response to Heineken Silver highlights the growing consumer appetite for differentiated premium beer offerings. As we expand into Kerala, Odisha and Madhya Pradesh, we remain focused on strengthening our premium portfolio and making the brand available to more consumers across key markets. — [Source](https://www.business-standard.com/markets/capital-market-news/united-breweries-expands-heineken-silver-across-kerala-odisha-and-madhya-pradesh-126082501288_1.html)
- 2026-08-20 — BUSINESS: **United Breweries Ltd down for fifth straight session** — United Breweries Ltd is quoting at Rs 1339.4, down 1.14% on the day as on 13:19 IST on the NSE. The stock tumbled 2.92% in last one year as compared to a 3.36% slide in NIFTY and a 15.05% spurt in the Nifty FMCG index. — [Source](https://www.business-standard.com/markets/capital-market-news/united-breweries-ltd-down-for-fifth-straight-session-126082000583_1.html)
- 2026-08-09 — Economic Times: **Premiumisation lifts liquor companies' June quarter topline amid cost headwinds** — Premiumisation is the key growth driver for India's alcoholic beverages industry. Major spirit makers expanded revenue and protected margins in the first quarter. United Spirits and Radico Khaitan reported high double-digit growth in their premium segments. United Breweries also saw an increase in its premium volume. This trend reflects rising disposable incomes and evolving consumer preferences. — [Source](https://economictimes.indiatimes.com/industry/cons-products/liquor/premiumisation-lifts-liquor-companies-june-quarter-topline-amid-cost-headwinds/articleshow/133063134.cms)
- 2026-08-09 — The Hindu: **Premiumisation lifts liquor companies' June quarter topline amid cost headwinds** — Premiumisation boosts revenue for India's liquor companies in Q1 2026-27, despite rising costs affecting profitability. — [Source](https://www.thehindubusinessline.com/companies/premiumisation-lifts-liquor-companies-june-quarter-topline-amid-cost-headwinds/article71324153.ece)
- 2026-08-06 — Economic Times: **Buy, Sell or Hold: Citi recommends 'Sell' on United Breweries; Goldman Sachs maintains 'Buy' on Metro Brands** — Goldman Sachs has reiterated its 'Buy' ratings on Metro Brands and Pidilite Industries after their latest quarterly earnings. While Metro Brands faces near-term margin pressure due to higher operating costs, the brokerage remains positive on its expansion plans. Pidilite impressed with strong revenue and EBITDA growth, prompting Goldman Sachs to raise its earnings estimates and maintain a positive long-term outlook. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/buy-sell-or-hold-citi-recommends-sell-on-united-breweries-goldman-sachs-maintains-buy-on-metro-brands/articleshow/132981603.cms)
- 2026-08-05 — Economic Times: **Kingfisher maker United Breweries cuts West Asia crisis impact estimate to ₹350-400 crore** — United Breweries is now projecting that the ongoing West Asia crisis will have a reduced effect on its earnings. Strong price adjustments in twenty-two states have significantly mitigated the challenges posed by increasing input and supply-chain costs. Despite successfully executing most of its recovery strategies, the volatility stemming from the West Asia situation remains pronounced, making it too soon to claim that the peak of cost pressures has been reached. — [Source](https://economictimes.indiatimes.com/industry/cons-products/liquor/kingfisher-maker-united-breweries-cuts-west-asia-crisis-impact-estimate-to-350-400-crore/articleshow/132960947.cms)
- 2026-08-04 — CNBC-TV18: **United Breweries Q1 Results: Premium beer sales lift revenue, but war-led costs hit profit** — United Breweries reported a mixed June quarter, with revenue and EBITDA beating Street estimates despite pressure on margins from the Middle East conflict. The brewer said premium beer demand remained robust, while cash flow improved sharply. — [Source](https://www.cnbctv18.com/market/united-breweries-q1-results-premium-beer-sales-lift-revenue-but-war-led-costs-hit-profit-19961779.htm)
- 2026-07-31 — Mint: **Can Radico Khaitan keep its lead over liquor rivals?** — Radico Khaitan has stayed well ahead of its peers, not just over the past six months but also on a three-year basis, as the chart shows. Radico's scrip has gained nearly 56% in the past six months, compared to a 12% rise in United Spirits, and a decline of 2% for United Breweries. — [Source](https://www.livemint.com/market/stock-market-news/radico-khaitan-magic-moments-prestige-above-p-a-portfolio-premiumization-premium-liquor-imfl-11785424195039.html)
- 2026-07-29 — Times of India: **Top stocks to buy or sell today: Stock recommendations for July 29, 2026 - check list** — India Business News: Stock market recommendations: United Breweries, and Max Healthcare are the top stocks to buy recommended by Mehul Kothari, DVP - Technical Research at. — [Source](https://timesofindia.indiatimes.com/business/india-business/top-stock-recommendations-for-july-29-2026-united-breweries-max-healthcare-adani-enterprises-best-stocks-to-buy-or-sell-today/articleshow/132700023.cms)
- 2026-07-24 — The Hindu: **Sensex today | Stock Market Live: Stock to buy today: United Breweries (₹1,394.20)** — Sensex, Nifty, Share Prices Live Updates: On Tuesday, the stock broke out of ₹1,370, opening the door for further rally — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-24th-july-2026/article71257579.ece)
- 2026-07-21 — The Hindu: **Beer industry saw challenging times during FY26 due to West Asia crisis, says UBL MD** — Key cost drivers freight, packaging, and energy — [Source](https://www.thehindu.com/business/beer-industry-saw-challenging-times-during-fy26-due-to-west-asia-crisis-says-ubl-md/article71246237.ece)

## Business profile

**Strategic vision:** Brewing and distributing alcoholic and non-alcoholic beverages in India.

### Business segments
- **Alcoholic Beverages:** The company is primarily engaged in the brewing and distribution of beer, aiming to make beer the drink of choice through consumer-centricity and advocacy.
- **Non-Alcoholic Beverages:** Offers non-alcoholic alternatives to cater to evolving consumer preferences and occasions.

### Competitive strengths
- Portfolio of iconic beer brands
- Distribution network across India
- Alignment with The HEINEKEN Company's global strategy

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/ubl
Markdown representation: https://faxioms.com/stocks/ubl?render=md