United Breweries Stock Declines Nearly 5% Following Q4 Earnings Release
United Breweries Shares Slump 5% Amid Mixed Q4 Results
United Breweries shares declined nearly 5% on Wednesday, May 6, following the release of its Q4 results. The company reported a 4.2% year-on-year rise in consolidated net profit to ₹101.87 crore for the March quarter (Q4 FY26), compared with ₹97.76 crore in the same period last year.
| Quarter | Consolidated Net Profit (₹ crore) | Revenue from Operations (₹ crore) | Total Income (₹ crore) |
|---|---|---|---|
| Q4 FY26 | ₹101.87 | ₹4,408.41 | ₹4,416.56 |
| Q4 FY25 | ₹97.76 | ₹4,427.15 | ₹4,416.56 |
Despite the improvement in net profit, revenue from operations was slightly lower at ₹4,408.41 crore versus ₹4,427.15 crore a year ago, indicating marginal pressure on topline growth. Total income also edged down to ₹4,416.56 crore during the quarter.
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United Breweries noted that Q4 marked a "strong finish" to the year, with the beer category returning to growth, supported by sustained momentum in its premium portfolio. Premium brands such as Kingfisher Ultra, Kingfisher Ultra Max, and Heineken Silver continued to perform strongly. Volume growth stood at 4.1% in Q4, driven by Andhra Pradesh, Assam, and Maharashtra, though partially offset by declines in Rajasthan, Telangana, and Odisha. Around 80% of UBL's markets returned to growth during the quarter.
Total expenses rose 1.67% year-on-year to ₹4,374.28 crore. For FY26 as a whole, UBL reported a 6.55% decline in net profit to ₹413.39 crore, reflecting a mixed full-year performance despite improved momentum in the final quarter.
Equirus Securities, a brokerage firm, has downgraded United Breweries to "Reduce" from "Add", citing near-term headwinds and a cut in FY27 EBITDA estimates by 27%. The firm highlighted key upside risks to its view, including faster-than-expected demand recovery, significant deflation in input costs, and positive regulatory developments across operating states.
United Breweries shares opened at ₹1,426.15 apiece on the BSE on Wednesday, touching an intraday low of ₹1,382 per share and an intraday high of ₹1,429.35. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the stock has remained under sustained pressure and continues to underperform.
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Investor Takeaway
United Breweries' stock declined nearly 5% following Q4 earnings release, despite a 4.2% year-on-year rise in consolidated net profit.
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