Hot Pursuit     05-May-23
United Breweries decline after Q4 PAT drops 94% YoY
United Breweries fell 1.26% to Rs 1,412 after the company's consolidated net profit slumped 94% to Rs 9.81 in Q4 FY23 as against Rs 163.40 crore recorded in Q4 FY22.

Net sales stood at Rs 1,765.88 crore in Q4 FY23, up 3.3% from Rs 1,709.17 crore reported in Q4 FY22.

Profit before tax tumbled 93.8% to Rs 13.48 crore in the fourth quarter of FY23 as against Rs 218.78 crore posted in the same period last year.

Total expenses rose 17.93% YoY to Rs 4,079.32 crore in Q4 FY23. Cost of materials consumed stood at Rs 1106.74 crore (up 32.29% YoY) and employee benefits expense was at Rs 117.29 crore (up 33.57% YoY) during the period under review.

The volume growth stood at 3% in the quarter, primarily driven by Telangana, West Bengal, Uttar Pradesh & Rajasthan.

Gross margin during the quarter was lower as compared to previous year due to continued inflationary pressures on the company's cost base, particularly on prices of barley and packaging materials.

On full year basis, the company's consolidated net profit slipped 16.8% to Rs 303.98 crore despite a 28.5% jump in net sales to Rs 7,499.92 crore in FY23 over FY22. YTD volume growth improved to 31% driven by Telangana, Rajasthan, Maharashtra & West Bengal.

The premium segment recorded growth ahead of the total portfolio, growing 19% in the quarter with a strong 58% growth YTD, driven by Heineken, Kingfisher Ultra & Kingfisher Ultra Max.

The brewing company said that the price increases have been taken across multiple states with continued commitment in driving further revenue management initiatives.

The firm's YTD capex spend was Rs 156 crore. With volume growth expected to continue, capex investments are needed to meet future growth, it added.

Inflationary pressure on the firm's cost base is expected to continue in the near term. The company will seek appropriate action to further mitigate the impact. UBL continues to remain optimistic on the long-term growth potential of the industry, driven by increasing disposable income, favorable demographics & premiumization, United Breweries stated in the press release.

Meanwhile, the company's board has recommended a dividend of Rs 7.50 per equity share for the financial year ended 31 March 2023.

Further, UBL said that its board has approved the resignation of Rishi Pardal from the post of managing director & CEO of the company with effect from close of business hours on Thursday, 4 May 2023.

United Breweries, controlled by Dutch multinational company Heineken NV, is primarily engaged in the manufacture, purchase, and sale of beer and non-alcoholic beverages.

Previous News
  United Breweries
 ( Results - Analysis 08-May-24   12:53 )
  United Breweries launches Heineken┬« Silver Draught Beer in India
 ( Corporate News - 28-Nov-23   12:53 )
  United Breweries Ltd soars 1.96%, up for third straight session
 ( Hot Pursuit - 17-Apr-23   13:05 )
  United Breweries announces resignation of Director & CFO
 ( Corporate News - 22-Apr-24   12:58 )
  United Breweries Ltd extends winning streak
 ( Hot Pursuit - 03-Dec-21   13:01 )
  United Breweries to table results
 ( Corporate News - 16-Apr-22   11:13 )
  Volumes jump at United Breweries Ltd counter
 ( Hot Pursuit - 07-Jul-22   11:00 )
  United Breweries
 ( Results - Analysis 10-Feb-23   19:40 )
  United Breweries Ltd up for third straight session
 ( Hot Pursuit - 09-Nov-21   13:06 )
  United Breweries to hold AGM
 ( Corporate News - 16-Jun-21   13:39 )
  United Breweries Ltd up for five straight sessions
 ( Hot Pursuit - 09-Dec-20   13:00 )
Other Stories
  Inox Green Energy board OKs fund raising proposal
  22-Jun-24   17:00
  Cipla Goa facility gets 6 USFDA observations
  22-Jun-24   16:22
  EIH CFO Kallol Kundu resigns
  22-Jun-24   14:20
  Sky Gold acquires entire stake in Starmangalsutra & Sparkling Chains
  22-Jun-24   13:31
  TVS Motor inks pact with CSC Grameen eStores for its CV range
  22-Jun-24   12:27
  Prestige Estates to raise Rs 5000 crore via QIP
  22-Jun-24   11:59
  JSW Energy arm bags LoA from SECI
  22-Jun-24   10:56
  RVNL emerges as L-1 bidder for Rs 191-cr railway project
  22-Jun-24   09:54
  Bajaj Consumer hits 52-week high as board OKs Rs 166-cr share buyback
  21-Jun-24   15:28
  GRM Overseas rallies as board OKs Rs 136-cr preferential issue
  21-Jun-24   15:19
Back Top