| Revenue growth | Net sales grew 24% YoY, driven by volume and price mix. |
|---|---|
| Margins | EBITDA margin expanded significantly but aided by a one-time tax refund. |
| Demand visibility | Strong consumer demand visible across major markets like Karnataka and Maharashtra. |
| Management confidence | Confident, highlighting structural P&L improvements despite external cost volatility. |
Growth
Net sales rose 24% and volumes 16%, led by Heineken Silver up 67%; EBITDA margin expanded 480bps to 11.9%.
Outlook
Management maintains a 6-7% long-term volume growth outlook; profitability expansion depends on state-level pricing approvals and productivity gains.
Risks
Rising sugar and raw material costs remain persistent headwinds; margins likely to moderate sequentially in Q3 due to peak season investments.
Earnings Call Transcript filed with NSE, NSE: UBL. Summary written with AI assistance from the document.
United Breweries Ltd: key numbers
- Share price
- ₹1,197.60
- Market cap
- ₹31,665 Cr
- Revenue (annual)
- ₹9,240 Cr
- Net profit (annual)
- ₹413.2 Cr
- P/E (TTM)
- 65.4×Sector 26.2×
- Promoter holding
- 70.83%+0.00% QoQ
- FII holding
- 5.36%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from United Breweries Ltd
All →United Breweries Q2 FY27 Results: Net Profit ₹134.8 Cr, Up 191.1% YoY
United Breweries Ltd reported revenue from operations of ₹4,623 Cr (+23.7% YoY) and net profit of ₹134.8 Cr (+191.1% YoY) for Q2 FY27.
- Key figure
- Net profit ₹134.8 Cr · +191.1% YoY
United Breweries Other Announcement
United Breweries Ltd has submitted its quarterly shareholding pattern for the quarter ended September 30, 2026, as required by SEBI regulations.
United Breweries Product Launch
United Breweries has launched 'Heineken Silver' beer in the state of Assam. This expansion makes the premium brand available to consumers in the region.
United Breweries Legal & Regulatory
United Breweries Limited received income tax refunds totaling ₹100.83 Crore for Assessment Years 2013-14 and 2020-21. These refunds, including interest, positively impact working capital.
- Value
- ₹100.8 Cr
United Breweries Board Meeting Date
United Breweries Limited will hold a board meeting on October 27, 2026, to consider and approve unaudited financial results for the quarter ended September 30, 2026.
United Breweries Legal & Regulatory
United Breweries Limited reported a pending tax dispute with the Income Tax Department regarding a penalty assessment. The company expects no material financial impact.