United Breweries Ltd. share price target

A confluence of demographic, economic and socio-cultural factors (such as large proportion of young population with rising income, increasing acceptability of alcohol consumption and an extremely low base of consumption) has made India one of the most attractive markets in the world for global beer companies. With its well-spread breweries across key states, presence across all 90,000 outlets selling beer in India, iconic Kingfisher/Heineken brands and superior efficiencies versus peers, United Breweries (UBBL) India's largest beer player is well positioned to exploit growth opportunities in the industry, in our view....

United Breweries' net revenues for Q1FY17 (strongest quarter) grew 7.5% YoY (up 29% QoQ) to | 1562 crore (I-direct estimate: | 1602 crore). The company continues to retain its market share of ~50% Volume growth for the quarter was at 6%, higher than industry volume growth of 4%. Q1FY17 was the first quarter post the complete ban in Bihar. Despite the same, eastern India grew 18%, led by a revival in West Bengal, Odisha, Jharkhand. Markets in North and West grew modestly with subdued consumption in Delhi, Haryana and UP...

ICICI Securities Ltd | Retail Equity Research United Breweries' (UBL) Q4FY16 revenues came in line with our expectations with growth of 11% YoY (up 12% QoQ) to | 1291 crore....