Retail Beer vs spirits: Why UBL commands higher valuation over USL Updated : April 17, 2019 11:10 AM IST Though both companies are different in terms of their products as UBL drives the beer market, while USL goes with spirits, looking at the alcohol industry as a whole. In terms of stock returns, UBL leads the race as the stock gained 43 percent in the last one year while USL has fallen by 19 percent. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.