AI Summary
✦ ClarthaUnited Breweries is an alcoholic-beverages company manufacturing and selling beer and non-alcoholic beverages in India and internationally. Beer brands, including Kingfisher, Heineken, Amstel, and London Pilsner, drive revenue, while packaged water, sodas, and Heineken 0.0 provide adjacent sales. Recent premium-margin commentary and estimates upgrades suggest premiumization can support growth, although Q1 profit declined despite revenue growth. Revenue grew 3.6% year-on-year, while profit fell 6.5%, indicating earnings pressure despite stable margins. ROE is unavailable, and debt-equity of 29.08 implies substantial leverage, increasing financial risk and potentially amplifying reported returns. At 93.5x earnings, the stock appears rich and trades at a substantial premium to its low-single-digit growth rate. State-level beer economics, rising costs, and uncertain margin conversion remain key open questions despite positive market sentiment.
Price Forecast
Probabilistic Range
Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.
Revenue Forecast
₹ CrEPS Forecast
₹ / shareMulti-factor synthesis of 5 key dimensions
From 18 analysts
Fundamentals
Fundamentals institutional score is 85 using growth durability 85.2.
Valuation
Valuation institutional score is 97 using relative multiple z-scores where peer dispersion is available.
Analyst Consensus
Analyst View institutional score is 29 using mean target upside 7.0%; dispersion penalty 25.7; recommendation breadth from available consensus.
Technical Structure
Technicals institutional score is 72 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.
Market Sentiment
Recent news flow is balanced or not decisive enough to tilt the tape. Based on 10 recent ticker-linked news items.
Signal Summary
Market intelligence remains Neutral. fundamentals and valuation provide support, while analyst consensus remain considerations.
Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.
Key Data Points
Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.
Valuation Metrics
Trading 22.3% below historical median. Valuation is declining — currently in the strongly undervalued zone (z-score: -1.62). Confidence: 87%.
Live forward EPS implies next-12-month EPS of ₹27.92. Applying the stock's normalized valuation corridor produces a fair range of ₹2,952.54 to ₹3,668.41, with base value near ₹3,359.89 (+143.0% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹27.92
Forward P/E
49.5x
Base Fair Value
₹3,359.89
Fair Range
₹2,952.54 - ₹3,668.41
Upside To Base
+143.0%
Estimate Source
Live forward EPS
Growth Estimate
-9.5%
5Y Average
111.39
Current
93.48
Overvalued
131.39
Undervalued
105.75
5Y Average
63.48
Current
52.60
Overvalued
70.46
Undervalued
56.60
5Y Average
4.67
Current
3.87
Overvalued
5.37
Undervalued
3.97
Peers & Comparison
Sector: Consumer Staples · Theme: Alcoholic Beverages
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
RADICO KHAITAN LTD RADICOAlcoholic Beverages | +19.5% | 8.8% | 86.4x Premium | +42% vs avg | +57.5% |
UNITED SPIRITS LIMITED UNITDSPRAlcoholic Beverages | -10.2% | 14.9% | 64.1x Fair | +6% vs avg | +16.1% |
ALLIED BLEND N DISTILS L ABDLAlcoholic Beverages | +6.1% | 5.6% | 79.0x Premium | +30% vs avg | +22.6% |
TILAKNAGAR INDUSTRIES LTD TIAlcoholic Beverages | +155.7% | -1.2% | — | — | +3.9% |
KRBL LIMITED KRBLPackaged Foods & Meats | +5.8% | 10.6% | 13.2x Undervalued | -78% vs avg | -15.3% |
UNITED BREWERIES LTD trades at a premium (92.3x vs peer avg 60.7x), implying higher growth or quality expectations from the Alcoholic Beverages cohort. Peers include RADICO KHAITAN LTD, UNITED SPIRITS LIMITED, ALLIED BLEND N DISTILS L — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹2.07K CrDec 2025Latest net profit
₹100 CrDec 2025Latest EPS
₹3.06Dec 2025Net margin
7.6%Dec 2025Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Dec 2025
Debt level and coverage
Debt, cash and free cash flow compared on the same crore scale.
- Debt
- Free cash flow
- Cash & equivalents
Results
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,764 | 2,273 | 1,888 | 1,823 | 2,132 | 2,473 | 2,115 | 1,998 | 2,321 | 2,862 | 2,051 | 2,071 |
| Expenses | 1,711 | 2,050 | 1,703 | 1,677 | 1,990 | 2,188 | 1,888 | 1,857 | 2,135 | 2,552 | 1,921 | 1,846 |
| Operating Profit | 2.8 | 171 | 134 | 93.8 | 84.27 | 227 | 170 | 79.85 | 130 | 248 | 66.16 | 157 |
| OPM % | 0.16% | 7.54% | 7.08% | 5.15% | 3.95% | 9.18% | 8.03% | 4% | 5.58% | 8.65% | 3.23% | 7.56% |
| Other Income | 11.63 | 10.32 | 12.23 | 24.06 | 26.32 | 7.25 | 10.52 | 10.08 | 7.85 | 10.95 | 15.01 | 10.85 |
| Interest | 1.22 | 1.66 | 1.43 | 2.05 | 1.75 | 1.59 | 2.19 | 3.2 | 5.87 | 11.17 | 14.65 | 16.86 |
| Depreciation | 50.65 | 51.32 | 50.84 | 51.77 | 57.71 | 57.66 | 57.08 | 61.29 | 56.66 | 62.84 | 63.98 | 68.88 |
| Profit before tax | 13.21 | 180 | 145 | 116 | 109 | 233 | 178 | 86.73 | 132 | 247 | 66.52 | 151 |
| Tax % | 26.34% | 24.45% | 25.55% | 26.73% | 25.73% | 25.55% | 25.74% | 26.18% | 25.97% | 25.76% | 29.42% | 33.89% |
| Net Profit | 9.73 | 136 | 108 | 84.85 | 80.84 | 173 | 132 | 64.02 | 97.38 | 184 | 46.95 | 99.56 |
| EPS in Rs | 0.37 | 5.15 | 4.07 | 3.21 | 3.06 | 6.55 | 5.00 | 1.45 | 3.69 | 6.95 | 1.78 | 3.06 |
All values in Rs. Crore unless otherwise stated. Source: CMIE Prowess, Quarterly Interim Standalone.