United Breweries Limited (UBL) is engaged in the business of manufacture and sale of beer and non-alcoholic beverages.
Q2 FY26 Earnings Results:
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Revenue from Operations: ₹2,052.83 crore, down 3.02% YoY from ₹2,117 crore in Q2 FY25.
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Profit After Tax (PAT): ₹46.52 crore, down 64.8% YoY from ₹132.17 crore.
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Profit Before Tax (PBT): ₹65.8 crore, down 63.09% YoY from ₹178.28 crore.
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EBITDA: ₹130 crore, down 43% YoY from ₹227 crore.
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EBITDA Margin: 6.3%, down from 10.7% YoY.
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Total volumes declined 3.4% YoY, affected by stronger-than-usual monsoon and subdued beer market; however, premium segment volume grew 17%.
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Gross profit rose 5% on a year-to-date basis.
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EBIT declined 18% due to negative operating leverage and continued brand investments.
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Market share gains on sell-out basis amid adverse market conditions.
Management Commentary & Strategic Decisions:
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Management cited strong premium segment growth driven by Kingfisher Ultra, Kingfisher Ultra Max, and Heineken Silver.
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Overall volume declined due to adverse weather in Rajasthan, Karnataka, Telangana, West Bengal offset partially by growth in Maharashtra, Andhra Pradesh, and Assam.
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Focus on revenue management and cost initiatives despite short-term margin pressure.
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Remain optimistic about long-term beer category growth driven by premiumization, disposable income, and favorable demographics.
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Continued investments planned in brand building and capacity expansions.
Q1 FY26 Earnings Results:
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Revenue from Operations: ₹2,862.42 crore, up 15.7% YoY.
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Profit After Tax (PAT): ₹183.87 crore, up 5.95% YoY.
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EBITDA: ₹311 crore, up 9% YoY.
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EBITDA Margin: Approx 10.8%.
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Strong volume performance and premium segment sales.
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Profit growth despite a dip in overall revenue due to market dynamics.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.