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for Industry - Breweries & Distilleries
United Spirits continues to demonstrate resilient growth, led by sustained momentum in the P&A portfolio, an improving product mix and steady volume recovery across key markets. Management remains focussed on strengthening the premium portfolio and sharper brand execution, which should continue to support margin traction. With commodity inflation largely stabilised and productivity programme delivering measurable benefits, the margin framework is expected to be stronger into H2FY26. The company expects healthy demand, driven by festive...
United Breweries (UBBL) delivered strong revenue growth of 16% YoY (est. 10%) in 1QFY26. Volume growth was 11% YoY (est. 4%, 5% in 4Q, 6% in FY25), aided by share gain and a low base from the election-impacted quarter last year.
United Breweries (UBBL) delivered revenue growth of 9% YoY (est. 10%) in 4QFY25. Volume growth was 5% YoY (est. 8%). The Premium portfolio continued to deliver strong performance, posting 24% YoY growth in 4Q (32% in FY25).
United Spirits (UNSP) reported revenue growth of 15% YoY (est. 13%) in 3QFY25, along with total volume growth of 10% (est. 8%). The Prestige & Above (P&A) segment clocked volume and value growth of 11% and 16%.
UNSP reported revenue growth of 8% YoY (in line) in 1QFY25. Prestige & Above (P&A) segment clocked revenue growth of 10% YoY and volume growth of 5% YoY.
Double-digit revenue growth trajectory continues as Prestige and Above (P&A) continued to outperform primarily led by higher realisations (driven by premiumisation) as volumes growth trajectory decelerates to 4% YoY (vs ~10% over last two quarters). This is likely due to shift in festive season and BIO normalisation benefits getting over.
Prestige and Above (P&A) continued to outperform led by mix improvement, portfolio reshape initiatives through innovations and renovations. Balanced volume (10% YoY) and price/mix growth (11% YoY) in P&A is positive vs largely mix-driven growth in previous few quarters.
