Alcoholic Beverages Q4 Earnings Preview - Beer To Outperform Indian-Made Foreign Liquor: Dolat Capital
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Dolat Capital Report
Alcohol-beverage being a discretionary spend and with gradual pick up in on trade demand, shift of duty-free sales and increase in-home consumption are expected to benefit the players.
However, this will be partly off-set by lack of pent-up demand (unlike Q2 FY21) and festivity (unlike Q3 FY21).
Also, Andhra Pradesh state had been part of base for both United Spirits Ltd. and United Breweries Ltd. with gradual decline in sales and it would thus be a further dampener.
Increase in excise duty in West Bengal for Indian made foreign liquor to impact the segment volumes.
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