United Breweries Q2 results: Profit jumps 190%, revenue rises 24% as premium beer volumes surge; Kingfisher sales up 44%
A Ksheerasagar
Beer maker United Breweries reported strong financial performance for the September quarter on Tuesday, October 27, posting growth across key financial metrics, driven by a surge in premium volumes, premiumisation and productivity initiatives.
The Dutch multinational brewing company, controlled by Heineken NV, reported a consolidated net profit of ₹134.81 crore in the September quarter, marking a 191% jump from ₹46.34 crore in the July-September period a year ago, according to a regulatory filing.
United Breweries’ revenue from operations increased 23.7% year-on-year (YoY) to ₹4,623 crore in the September quarter of FY27, compared with ₹3,737 crore in the corresponding period last year.
Revenue growth was driven by a 24% increase in net sales, supported by strong volume growth, structural price increases, premiumisation, a favorable geographic mix, and an improvement in the company’s operating mix.
The beer category continued to deliver double-digit growth, with momentum accelerating during the quarter. United Breweries’ sell-in volumes increased 16%, while inventory levels remained below those recorded in the corresponding period last year, reflecting strong consumer demand and healthy market fundamentals.
Premium volumes grew 38%, accelerating by 31 percentage points from the previous quarter. This growth was led by the continued success of Heineken Silver, which recorded a 67% increase, and Kingfisher Ultra, which grew 44%, further strengthening United Breweries’ premium portfolio and driving premiumisation at scale, its filing showed.
Earlier this month, the company launched Heineken® Silver in Assam, expanding the brand reach to 11 markets. The company said it continues to drive premiumization through its extensive pan-India manufacturing network, strong portfolio of brands, and innovation-led growth strategy.
Building on the launch of Heineken® Silver in Kerala, Odisha, and Madhya Pradesh, UBL is accelerating the brand’s availability across key markets in India.
Vivek Gupta, MD & CEO of United Breweries (UBL), commented, "We delivered an outstanding Q2 FY27, with volume growth accelerating to 16%, net sales growth of 24%, and EBIT growth of 161%, reflecting the strength of our portfolio, the acceleration of the beer category, and the disciplined execution of our growth strategy.
Importantly, these results are fully aligned with the ambitions and strategic priorities outlined during our Capital Markets Day earlier in the quarter, reinforcing our confidence in our ability to sustainably accelerate both growth and profitability.”
Gupta further said, “Premiumisation continues to be a powerful driver of value creation for UBL. Premium volumes grew 38%, led by the strong momentum of Heineken® Silver (now in 11 markets) and Kingfisher Ultra, while the commissioning of two new can lines at our Nizam and Ellora breweries (in Telangana & Maharashtra, respectively) enhances our ability to meet growing consumer demand and unlock future growth opportunities.
“With category fundamentals remaining attractive and our brands continuing to strengthen, we remain confident in the long-term growth potential of the Indian beer market and UBL's ability to create sustainable value for all stakeholders.”
A Ksheerasagar
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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