United Breweries Ltd Share Price – NSE  /  BSE

Alcoholic Beverages, Small Cap

United Breweries announced the much-anticipated launch of Heineken® Silver Draught Beer in India. This marks a significant milestone as Heineken introduces its draught beer for the first time in the Indian market, aiming to provide consumers with a premium, smooth tasting beverage tailored for social occasions.

The initial launch will see Heineken® Silver Draught Beer exclusively available in premium bars and pubs across Mumbai, Thane, and Pune in Maharashtra, with plans to expand to Karnataka in the fiscal year 2024.

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However, net sales increased 12.3% to Rs 1,890.05 crore in the quarter of Q2 FY24 as against Rs 1,682.31 crore in Q2 FY23.

Profit before tax declined 20.2% year on year (YoY) to Rs 144.03 crore during the period under review.

Volume in second quarter increased 7% predominantly driven by Telangana, Orissa & Rajasthan, partially off-set by a decline in Delhi.

The premium segment grew by 10% in the quarter. Within the segment, there was double digit growth for the Kingfisher Ultra family & more than 20% contribution for Heineken Silver to the Heineken franchise.

Gross profit margin in the second quarter was at 44.5%, driven by continued revenue management & cost initiatives.

The liquor maker said that despite of some inflationary softening seen in Q2, volatility will remain. UBL continues to remain optimistic about the long-term growth potential of the industry, driven by increasing disposable income, favorable demographics & premiumization.

United Breweries, controlled by Dutch multinational company Heineken NV, is primarily engaged in the manufacture, purchase, and sale of beer and non-alcoholic beverages.

The scrip advanced 3.14% to currently trade at Rs 1,616 on the BSE.

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Net profit of United Breweries declined 19.97% to Rs 107.28 crore in the quarter ended September 2023 as against Rs 134.05 crore during the previous quarter ended September 2022. Sales rose 12.35% to Rs 1890.05 crore in the quarter ended September 2023 as against Rs 1682.31 crore during the previous quarter ended September 2022.

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United Breweries will hold a meeting of the Board of Directors of the Company on 19 October 2023.

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