United Breweries - Peak Season Demand A Positive; Q1 FY23 To See Sharp Input Pressure: Nirmal Bang

United Breweries - Peak Season Demand A Positive; Q1 FY23 To See Sharp Input Pressure: Nirmal Bang

Bottle of Kingfisher Beer, made by United Breweries Ltd. (Source: Company website)

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Nirmal Bang Report

We recently hosted the management of United Breweries Ltd. as part of our Annual Investor Conference, to get an overall business update. Overall peak season demand has been a positive this year.

United Breweries had a strong start to the season in March 2022 with record volume. While there will be pressure on Q1 FY23 margins, price increases that the company seeks to get in various states, coupled with product mix and state mix and cost savings should suffice to offset higher input costs to some extent going forward.

While we build in near term margin pressure, we continue to remain positive about medium-term volume growth opportunity for the market leader United Breweries.

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Nirmal Bang United Breweries Ltd - Management Meet Update - 10 June 2022.pdf
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