United Breweries Ltd Q3 FY25 Results & Concall Highlights: Revenue, Margins & Order Book
Published 7 Aug 2026 | Market Cap: ₹37.3K Cr
Future growth expectations for United Breweries Limited based on the document: - Volume growth guidance: Targeting 6% to 8% minimum volume growth for the next fiscal year, with a focus on sustainably building the category. Volume growth expected around 6-8% annually, with the goal to be ahead of the market.
From United Breweries Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,349
Market Cap
₹37.3K Cr
P/E Ratio
108.1
United Breweries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹2.3K Cr, net profit ₹102 Cr.
Full financials →📊 Revenue & Sales Performance
📈 Profitability & Margins
- →Volume growth expected around 6-8% annually, with the goal to be ahead of the market.
- →Continued premiumization to improve revenue mix and long-term gross margins.
- →EBIT margins challenged short-term due to ongoing investments and recent price/duty increases; gradual margin improvement anticipated.
- →Telangana price increases improve top-line margins but will be reinvested for growth, limiting immediate EBIT margin expansion.
- →Capex expected to be substantially higher than previous years, including a major greenfield brewery investment in Uttar Pradesh to support future growth.
- →Productivity programs initiated to achieve gross savings (~INR 50 crores annually starting 2025) to improve efficiency and competitiveness.
- →Potential volatility due to state-level policy changes and excise duty increases may impact short-term earnings.
- →Overall, management is confident in sustainable, long-term profitable growth but acknowledges near-term uncertainties and hard work ahead.
🏗️ Capital Expenditure Plans
- →United Breweries is investing in a greenfield brewery in Uttar Pradesh, their first greenfield investment in 12 years, with the brewery expected to be operational by FY 2027.
- →The UP investment is close to EUR 82 million, aimed at meeting future capacity needs and capitalizing on growth potential due to urbanization and favorable policies.
- →Capex plans are flexible and state-specific, with some investments in expansion via contract manufacturing and greenfield facilities.
- →Overall, capex will be significantly higher than in recent years, although exact numbers for FY 2026 and FY 2027 remain undisclosed due to variability.
- →Continuous investments are being made to upgrade brewery technology, warehouse capacity, and trade marketing infrastructure to support peak season demands.
- →Ongoing productivity programs are expected to deliver annual gross savings of around INR 50 crores starting 2025, supporting sustainable growth.
💰 Fundraising & Capital Structure
- →No explicit mention of any current or planned fundraising through debt or equity in the provided transcript.
- →The company is focused on investing in growth, including a major greenfield brewery in Uttar Pradesh.
- →Capex plans are described as flexible and variable, with no fixed numbers shared for 2026 and 2027.
- →Vivek Gupta mentions that capex will be a "very healthy number" but refrains from quantifying or committing to external financing methods.
- →There's discussion of optimizing internal productivity programs and cost management rather than raising new capital.
- →Overall, the company appears to be funding expansion and upgrades primarily through internal resources without announcing new debt or equity issuances at this time.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were United Breweries Ltd Q3 FY25 results?
Future growth expectations for United Breweries Limited based on the document: - Volume growth guidance: Targeting 6% to 8% minimum volume growth for the next fiscal year, with a focus on sustainably building the category. Volume growth expected around 6-8% annually, with the goal to be ahead of the market.
What is United Breweries Ltd share price analysis?
United Breweries Ltd currently shows a neutral. The stock trades at a P/E of 108.1 with a market cap of ₹37,350 Cr. Investors should review the full earnings analysis for detailed insights.
Is United Breweries Ltd planning capital expenditure?
United Breweries is investing in a greenfield brewery in Uttar Pradesh, their first greenfield investment in 12 years, with the brewery expected to be operational by FY 2027.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.