United Breweries shares soar 15% as Q2 profit triples - Check Q2 results 2026 highlights for Heineken, Kingfisher maker
United Breweries share price surged 15% on Wednesday, October 28, after the beer maker reported a nearly three-fold year-on-year (YoY) increase in consolidated net profit for the September quarter of FY27. Strong volume growth, premiumisation and cost efficiency supported earnings.
The stock climbed 15% to an intraday high of ₹1,316. It had touched a 52-week high of ₹1,845.90 in October 2025 before falling to a 52-week low of ₹1,128.15 on October 26. Despite Wednesday's rally, the stock had gained 5.5% over one month but declined 10.5% over three months, 13% over six months and 30% over one year.
United Breweries Ltd (UBL), controlled by Dutch brewing multinational Heineken NV, reported consolidated net profit of ₹134.81 crore for the July-September quarter, compared with ₹46.34 crore in the corresponding period last year.
Revenue from operations increased 23.7% YoY to ₹4,623 crore from ₹3,737.31 crore. Total income rose 24.31% to ₹4,664.33 crore, while total expenses increased 21.57% to ₹4,481.66 crore.
In its earnings statement, UBL said net sales grew 24%, supported by volume growth, structural price increases, premiumisation, a favourable geographic mix and an improved operating mix.
EBITDA jumps 108% as premium beer volumes rise
UBL's EBITDA grew 108% during the quarter, while its EBITDA margin expanded by 480 basis points, reflecting improved operating efficiency and cost control.
The company recorded 16% growth in sell-in volumes, with inventory levels remaining below those in the year-ago period. UBL said the beer category maintained double-digit growth, with momentum strengthening during the quarter.
Premium volumes rose 38%, led by Heineken Silver and Kingfisher Ultra. Heineken Silver volumes increased 67%, while Kingfisher Ultra recorded 44% growth. UBL said premium volume growth accelerated by 31 percentage points compared with the previous quarter.
Vivek Gupta, managing director and chief executive officer of UBL, said the company delivered an outstanding second quarter, with volume growth accelerating to 16%, net sales rising 24% and earnings before interest and tax (EBIT) increasing 161%.
He said premiumisation remained a key driver of value creation. Heineken Silver is now available in 11 markets, while Kingfisher Ultra continues to gain traction.
The company has also commissioned two new can lines at its Nizam and Ellora breweries in Telangana and Maharashtra, respectively. These additions are expected to strengthen its ability to meet rising demand. UBL plans to increase commercial investments in the coming quarter to support further growth.
The company also informed that the September quarter was marked by strong category momentum, faster premiumisation, improved profitability and sustained progress in cash generation, supported by disciplined execution and investments for future growth.
For the first half of FY27, UBL's total consolidated income rose 16.3% to ₹10,634.48 crore. Volume growth stood at 12%, while net sales increased 14%. EBIT rose 35% and profit after tax (PAT) grew 31%. The underlying EBIT margin improved by 129 basis points, while the PAT margin expanded by 70 basis points.
UBL said it gained market share in profitable markets, led by Karnataka, while brand strength improved further following the record levels reported in the previous quarter.
Looking ahead, the company sees attractive long-term growth opportunities in India's beer market, supported by favourable demographics, rising consumer preference for beer and continued premiumisation.
Its priorities include developing the beer category, strengthening its portfolio through innovation, expanding product availability, improving productivity and enhancing cost efficiency across the value chain.
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