Motilal Oswal: United Breweries Posts Weak Q2; Recovery Gradual, Unlike Peers  
Bottles of Kingfisher Beer, made by United Breweries Ltd., are arranged for a photograph in a liquor store in New Delhi. (Photographer Adam Ferguson/Bloomberg News)

Motilal Oswal: United Breweries Posts Weak Q2; Recovery Gradual, Unlike Peers  

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

United Breweries Ltd.’s Q2 results were weak – with 48%/42.9% YoY volume/sales decline and 79%/96.5% YoY Ebitda/profit after tax decline – although better than our expectations.

These numbers are also starkly below approximately 3%/6% volume/sales decline reported by Alcobev peer United Spirits Ltd. last week.

This once again highlights that the more in-home consumption dominates, spirits consumption would do better.

This trend is likely to continue over the next few quarters as well.

Click on the attachment to read the full report:

Motilal Oswal United Breweries Q2FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.