United Breweries Limited — PPTs, 10-02-2026: Investor Presentation

**Business Performance:**

UBL reported mixed Q3 FY26 performance: Net Sales rose 4% to Rs 2,071 Cr, but volumes dipped 1.3% primarily due to a colder winter. Year-to-date (YTD) FY26 Net Sales are up 6%, with volumes growing 2.6%. Premium volumes saw a strong 23% increase YTD. Regionally, West recorded robust growth, while North, East, and South faced Q3 volume declines.

**Growth Drivers or Strategy:**

The company is actively optimizing operations through business function reorganization, brewery network optimization (including a UP greenfield), and portfolio simplification to prioritize high-value products. Cost efficiency efforts are being accelerated across packaging, logistics, and sourcing. Innovation is key, highlighted by the launch of Kingfisher Smooth.

**Key Financial Metrics:**

Q3 FY26 saw impressive profit growth: Profit After Tax surged 111% to Rs 81 Cr, and EBIT jumped 86% to Rs 167 Cr. This was fueled by a strong 222 basis points expansion in Gross Margin to 45.3%. YTD FY26, Net Sales hit Rs 6,985 Cr, but PAT declined 9% to Rs 311 Cr, with EBIT up 1%.

**Management Commentary / Outlook:**

Management aims to further expand the category and boost premium segment share. Focus remains on revenue management and cost initiatives to enhance margins, alongside continued brand and capability investments. They express optimism for the beer category's long-term growth, driven by increasing disposable income, favorable demographics, and premiumization.