United Breweries Ltd

Q4 FY25

United Breweries Ltd Q4 FY25 Results & Concall Highlights: Revenue, Margins & Order Book

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹1,349

Market cap₹37.3K Cr

P/E108.1

Updated23 Aug 2026

Read4 min read

The short version

The company expects volume growth of around 5% to 7% based on performance in various states such as Andhra Pradesh, Uttar Pradesh, Maharashtra, and Assam (Page 7, 16). United Breweries expects continued volume growth of 5%-7% driven by premiumization and category growth.

From United Breweries Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

The company expects volume growth of around 5% to 7% based on performance in various states such as Andhra Pradesh, Uttar Pradesh, Maharashtra, and Assam (Page 7, 16).
Premium segment growth remains strong with a target to increase its market share to 35% or higher, aiming for sustained 35%-40% year-on-year growth in premium volumes (Page 9, 16).
Capacity expansion, including a new brewery in Uttar Pradesh with 1.5 to 3.5 million hectolitres capacity, is underway and will take a minimum of 2 years to contribute materially to volumes (Page 15, 16).

2 more points management made on revenue & sales performance

Profitability & Margins

United Breweries expects continued volume growth of 5%-7% driven by premiumization and category growth.
Premium segment to further accelerate with target to reach 35% share and 35%-40% year-on-year growth.
EBIT grew 24% in Q4, indicating strong profit momentum despite ongoing investments.
Margin pressure anticipated short-term due to capacity expansion and reliance on contracted breweries but expected to improve post capacity commissioning.
Capex investments in new breweries (e.g., U.P.) will increase significantly over next 2-3 years, enabling volume scale-up and margin expansion long term.
Focus on balancing margin vs growth trade-offs to build category and benefit from margin expansion when new capacity becomes operational.

2 more points management made on profitability & margins

See what United Breweries Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

United Breweries is setting up a new can line in Maharashtra, expected ready by next season, enhancing can volume capacity.
Significant capex is underway for a new Greenfield brewery in Uttar Pradesh (U.P.), with land approval and initial work started; expected to take minimum 2 years for completion. Planned capacity ranges from 1.5 to 3.5 million hectolitres, modular based on demand and policy.
Capex investment rate is increasing significantly compared to previous years, with strategic investments also being made to enhance capacity through both owned breweries and partnerships with contract manufacturers.
Continuous investment in supply chain optimization, including network design, logistics, and warehousing, to better serve markets and improve service levels.

2 more points management made on capital expenditure plans

Fundraising & Capital Structure

There is no explicit mention of any current or future fundraising through debt or equity in the provided pages of the United Breweries Limited transcript.
The discussion primarily focuses on capex investments, capacity expansion (e.g., new brewery in U.P., can line in Maharashtra), supply chain improvements, and pricing strategies.
Capex investments are being funded, but details on funding sources such as new debt or equity issuance are not disclosed.

2 more points management made on fundraising & capital structure

See what United Breweries Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript from United Breweries Limited's Q4 & FY’25 Earnings Call does not explicitly mention details on current or expected orderbook/pending orders. However, relevant points indicating operational status and capacity expansion plans include: - Ongoing capex investments in capacity expansion, notably a Greenfield brewery project in Uttar Pradesh, expected to take a minimum of 2 years to complete. - Capacity discussions indicate a current hectolitre capacity comprising owned and contract breweries, but exact numbers are undisclosed due to commercial confidentiality. - Capex investment rate is increasing significantly compared to previous years.

2 more points management made on order book & pipeline

United Breweries Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹2.3K Cr, net profit ₹102 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What United Breweries's management said in earlier quarters

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Frequently Asked Questions

What were United Breweries Ltd Q4 FY25 results?

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 setting up a new can line in Maharashtra, expected ready by next season, enhancing can volume capacity.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.