Quote on United Breweries 1QFY22 Result Update by Mr. Amarjeet Maurya, Angel Broking Ltd
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Below is quote on United Breweries 1QFY22 Result Update by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
During the 1QFY22, United Breweries Ltd (UBL) reported revenue of ~Rs1,119cr (up ~120% YoY) due to volume growth of ~115%yoy. Initial two month of the quarter witnessed muted business with some recovery towards the end of June as markets started to gradually open. On the EBITDA front, the company has reported profit of ~Rs96cr against loss of Rs96cr in 1QFY21.On the bottom-line front, UBL has reported profit of Rs31cr against loss of ~Rs115cr. Going ahead, we expect healthy recovery top-line and bottom-line growth on the back of new product launches, strong brand and wide distribution network. Near term,the industry outlook continues to be volatile given the uncertain trajectory of the pandemic, Overall 1Q results were in line with expectation. Currently, we are neutral on stock.
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