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India's United Breweries Ltd reported a 15.8% fall in June-quarter profit on Friday, dragged by higher excise duty and costs. The liquor maker, partly owned by the Dutch brewer Heineken NV, said its standalone profit fell to 1.36 billion rupees ($16.5 million) in the quarter ended June 30 from 1.62 billion rupees a year earlier. Total expenses rose 1.7%, outpacing a 0.9% increase in revenue to 52.41 billion rupees. The margin on the earnings before interest and taxes contracted 9...
Kingfisher beer maker United Breweries posts 16% slump in first-quarter profit
United Breweries is currently trading at Rs. 1501.35, up by 3.90 points or 0.26% from its previous closing of Rs. 1497.45 on the BSE. The scrip opened at Rs. 1500.05 and has touched a high and low of Rs. 1506.35 and Rs. 1491.25 respectively. So far 1624 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1805.00 on 13-Dec-2022 and a 52 week low of Rs. 1342.25 on 05-May-2023. Last one week high and low of the scrip s...
United Breweries inches up as its Kingfisher opens online merchandise store `KF.LIFE`
About the stock: United Breweries (UBL) is the biggest beer player in the domestic market (~50% market share), a sector largely dominated by MNCs (~85% of market). * On-trade sales comprise ~10% of revenues (rest 90% is off-trade) * Heineken, one of the world’s largest beer companies, holds 72.7% stake in United Breweries Q4FY23 Results: COGS inflation and negative operating leverag...
Hold United Breweries Ltd For Target Rs.1500 By ICICI Direct
* The company’s 4QFY23 results were disappointing across all metrics. Volume growth was only 3%; however, when adjusted for route-to-market changes, it was at 17%. The management indicated that the demand has been adversely impacted in the northern region due to unseasonal rainfall. * Gross margin came at just 38.6%, and is at its lowest level. It was adversely impacted by high barley and packaging costs and adverse state mix. The company has started procuring new barley bu...
Sell United Breweries Ltd For Target Rs.1,190 By Motilal Oswal Financial Services Ltd
United Breweries is currently trading at Rs. 1394.50, down by 35.50 points or 2.48% from its previous closing of Rs. 1430.00 on the BSE. The scrip opened at Rs. 1342.25 and has touched a high and low of Rs. 1419.00 and Rs. 1342.25 respectively. So far 30311 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1805.00 on 13-Dec-2022 and a 52 week low of Rs. 1,342.25 on 5-May-2023. Last one week high and low of the scr...
United Breweries declines on reporting 94% fall in Q4 consolidated net profit
The stock has given a breakout from a sideways consolidation phase with rising volumes The momentum oscillator RSI has also given a positive crossover on the daily chart confirming the strength in the stock. The MACD indicator has turned from the zero line, confirming the buy signal. The fno data also suggest a fresh long built up positions with rise in open interest and price. Buy United Breweries Ltd @ Rs.1625 CB Target Rs. 1795/1880 Duration&n...
LKP Spade : A Weekly Pick - Buy United Breweries Ltd For Target Rs.1880 By LKP Securities
United Breweries is currently trading at Rs. 1692.25, up by 38.70 points or 2.34% from its previous closing of Rs. 1653.55 on the BSE. The scrip opened at Rs. 1646.00 and has touched a high and low of Rs. 1696.00 and Rs. 1646.00 respectively. So far 4942 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1793.65 on 09-Nov-2021 and a 52 week low of Rs. 1274.60 on 07-Mar-2022. Last one week high and low of the scrip ...
United Breweries shines on planning to infuse Rs 350 crore as capital expenditure in 2023
EBITDA in line; material cost pressure to sustain in near term * UBBL reported EBITDA in line with expectations. While sales were lower than expected, cost savings-led EBITDA margin beat estimates, even as gross margin pressures remained extremely high (500bp decline YoY). * The management mentioned the likelihood of continuing pressures on margins in the near term. * Industry volume performance has been flattish over a three-year period in 1HFY23 and UBBL’s volumes are up by 3...
Sell United Breweries Ltd For Target Rs.1,400 - Motilal Oswal Financial Services
United Breweries is currently trading at Rs. 1686.75, up by 1.55 points or 0.09% from its previous closing of Rs. 1685.20 on the BSE. The scrip opened at Rs. 1694.05 and has touched a high and low of Rs. 1719.20 and Rs. 1683.70 respectively. So far 5913 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1793.65 on 09-Nov-2021 and a 52 week low of Rs. 1274.60 on 07-Mar-2022. Last one week high and low of the scrip s...
United Breweries inches up on launching new brand variant `Heineken Silver`
Profitability to remain muted despite healthy volumes * While UBBL’s 1QFY23 sales came in better than our expectation, the 410bp YoY and 440bp QoQ contraction in gross margin led to a miss of 9%/16% on forecasted EBITDA/adjusted PAT. * When compared to pre-COVID levels, volumes are up by only 8% from 1QFY19 levels (14% when adjusted for the change in the Andhra Pradesh state government’s excise policy). * As indicated in our Feb’22 note, rising commodity cost pressu...
Sell United Breweries Ltd For Target Rs.1,175 - Motilal Oswal Financial Services
United Breweries is currently trading at Rs. 1639.50, up by 3.25 points or 0.20% from its previous closing of Rs. 1636.25 on the BSE. The scrip opened at Rs. 1657.45 and has touched a high and low of Rs. 1685.25 and Rs. 1631.10 respectively. So far 7440 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1793.65 on 09-Nov-2021 and a 52 week low of Rs. 1274.60 on 07-Mar-2022. Last one week high and low of the scrip s...
United Breweries gains on reporting over 5-fold jump in Q1 consolidated net profit
Religare Super Idea** To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330 Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Buy United Breweries Limited For Target Rs.1740 - Religare Broking
United Breweries Limited * The Stock on the daily chart has formed a reversal morning start pattern indicating bullishness in the near term. * The RSI has also shown a positive crossover confirming the internal strength of the stock and has entered the buy zone. * The stock is likely to test its 200DMA which is placed at 1,550 level and a sustain move above that will open further legs on the upside. United Breweries Ltd Buy @ Rs.1480 Stop Loss Below Rs.141...
LKP Spade, Weekly Pick - Buy United Breweries Ltd For Target Rs.1620 - LKP Securities
United Breweries is currently trading at Rs. 1544.40, up by 9.50 points or 0.62% from its previous closing of Rs. 1534.90 on the BSE. The scrip opened at Rs. 1557.45 and has touched a high and low of Rs. 1580.00 and Rs. 1507.90 respectively. So far 31480 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1793.65 on 09-Nov-2021 and a 52 week low of Rs. 1131.45 on 27-Apr-2021. Last one week high and low of the scrip ...
United Breweries gains after its Q4 consolidated net profit surges 68%
Big beat overall Gross margin pressure offset by decline in staff costs 4QFY22 performance UBBL’s standalone net sales grew 10.6% YoY to INR17.1b (est. INR15.6b). EBITDA remained flat YoY at INR2.6b. PBT/adjusted PAT grew 5.5%/2.5% YoY to INR2.2b/INR1.6b (est. INR1.3b/INR1.1b), respectively. Volumes in 4QFY22 grew 7% YoY, while FY22 volumes rose 33% YoY. Gross margin contracted 330bp YoY to 48.7% due to inflationary pressures witnessed in malt, packaging materials and cru...
Update on United Breweries Ltd by Motilal Oswal
On-trade channels gradually recovering… About the stock: United Breweries (UBL) is the biggest beer player in the domestic market (~52% market share), a sector largely dominated by MNCs (~85% of market). * On-trade sales comprise ~25% of revenues (rest 75% off-trade) * Heineken, one of the world’s largest beer companies, holds 72.7% stake in United Breweries Q2FY22 Results: UBL’s performance was below I-direct estimates on profitability. * Revenues ...
Hold United Breweries Ltd For Target Rs.1700 - ICICI Direct
CCI penalty a significant sentiment dampener * The Competition Commission of India (CCI) has imposed penalties of INR7.52b on United Breweries (UBBL) and INR1.22b on Carlsberg India (CIPL, unlisted). No penalty has been imposed on Anheuser-Busch InBev (AB InBev)/SABMiller as it is the whistleblower. * The penalty comes on the back of a detailed probe ordered four years ago with regard to alleged cartelization and price fixing by all the three major Beer players that came to light when A...
Sell United Breweries Ltd For Target Rs.1,170 - Motilal Oswal
CCI penalty a significant sentiment dampener The Competition Commission of India (CCI) has imposed penalties of INR7.52b on United Breweries (UBBL) and INR1.22b on Carlsberg India (CIPL, unlisted). No penalty has been imposed on Anheuser-Busch InBev (AB InBev)/SABMiller as it is the whistleblower. * The penalty comes on the back of a detailed probe ordered four years ago with regard to alleged cartelization and price fixing by all the three major Beer players that came to ligh...
Sell United Breweries Ltd For Target Rs.1,170 - Motilal Oswal
CCI order to provide headwinds in the near term About the stock: UBL is the biggest beer player in the domestic market (~52% market share), a sector largely dominated by MNCs (~85% of the market) * On-trade sales comprise ~25% of the revenues (rest 75% off-trade) * Heineken, one of the world’s largest beer company, holds 72.7% stake in United Breweries Event: CCI has imposed a penalty of |752 crore on UBL besides imposing penalties on certain individuals In culm...
Reduce United Breweries Ltd For Target Rs.1400 - ICICI Direct
Volumes continue to remain subdued About the stock: United Breweries (UBL) is the biggest beer player in the domestic market (~52% market share), a sector largely dominated by MNCs (~85% of market). * On-trade sales comprise ~25% of revenues (rest 75% off-trade). * Heineken, one of the world’s largest beer companies, holds 72.7% stake in United Breweries. Q1FY22 Results: UBL reported volume growth weaker than expected. * Revenues grew 121% YoY to | 1118 crore, l...
Hold United Breweries Ltd For Target Rs.1580 - ICICI Direct
Volumes likely to recover faster * UBBL posted healthy EBITDA margins of 9.5% despite the lockdown impact. The company saw a significant reduction in overhead costs, aided by structural savings, which could mean a further margin improvement on a full recovery. Sales grew 120% yoy on low comparables (down 45% vs. Q1FY20). * Commentary indicated a MoM recovery, aided by the easing of lockdown curbs across markets and strong traction in Uttar Pradesh, Rajasthan and West Bengal, which...
Buy United Breweries Ltd For Target Rs. 1,570 - Emkay Global
Results better than expected; path to normalcy to take longer * The lockdown severely impacted 1QFY22 on-trade sales (usually around 25% of total sales) and home delivery was not permitted in some states throughout the quarter. Given these factors, results were better than expected, with sales 45% lower than 1QFY20 sales (up 121% YoY over the low base of 1QFY21). Nevertheless, in a capital-intensive business, EBITDA/PAT declined 71%/83% v/s 1QFY20 levels. * Jun’21 volumes were 50%...
Sell United Breweries Ltd For Target Rs.1,130 - Motilal Oswal
Volumes likely to recover faster * UBBL posted healthy EBITDA margins of 9.5% despite the lockdown impact. The company saw a significant reduction in overhead costs, aided by structural savings, which could mean a further margin improvement on a full recovery. Sales grew 120% yoy on low comparables (down 45% vs. Q1FY20). * Commentary indicated a MoM recovery, aided by the easing of lockdown curbs across markets and strong traction in Uttar Pradesh, Rajasthan and West Bengal, which have ...
Buy United Breweries Ltd For Target Rs.1,570 - Emkay Global
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 ~Rs...
Quote on United Breweries 1QFY22 Result Update by Mr. Amarjeet Maurya, Angel Broking Ltd
Heineken stake increase a positive * Heineken’s expected stake increase by 15% to 61.5% is a positive and indicates its commitment and interest in UBBL and the Indian beer market. SEBI approval exempts Heineken from making an open offer. In our view, this implies a similar treatment when the remaining 11% UB Group pledged stake is sold by banks in future. * The increase in ownership may drive higher involvement and support from Heineken. But UBBL is an efficiently run company with...
Buy United Breweries Ltd For Target Rs.1,570 - Emkay Global
Demand outlook challenging; material costs rising * United Breweries (UBBL) reported strong results over a lockdown impacted 4QFY21. Nevertheless, they came in below our expectations on all fronts – as the pace of sequential recovery was slower than that seen in 3QFY21. * Considering a) some impact from the lockdown in Maharashtra, Delhi, and Karnataka for a month during the key season for beer and b) the possible write-offs of perishable raw materials, we have cut our FY22 EPS fo...
Sell United Breweries Ltd For Target Rs.960 - Motilal Oswal
Sharper recovery reflects pre-Covid performance… United Breweries’ (UBL) net revenues showed a sharp recovery and grew 8% YoY to | 1544 crore. Volumes grew 9% YoY, due to good growth in all key markets except Telangana, Delhi and Odisha. Gross margins grew 110 bps YoY to 52% due to a better state mix and price hikes, which along with control on operational costs led to EBITDA margin of 16.9% (up 760 bps YoY). Subsequently, absolute EBITDA was at | 261 crore (up 98% YoY). Th...
Buy United Breweries Ltd For Target Rs. 1450 - ICICI Direct
Recovery delayed but to bounce back strongly on full unlocking * Sales continued to recover and grew 8% yoy to Rs15.5bn, largely in line, led by 9% volume growth on low comparables (21% decline in Q4FY20). Operating margins were up 760bps, resulting in EBITDA/Adj PAT growth of 97%/260% - above estimates by 25%/41%. * Sales were 5% lower than peak Q4FY19 sales while volumes were lower by 14%. In our view, excluding AP/Telangana, volume have recovered in rest of India to peak FY19 levels....
Buy United Breweries Ltd For Target Rs.1,450 - Emkay Global
United Breweries is currently trading at Rs. 1200.10, up by 35.75 points or 3.07% from its previous closing of Rs. 1164.35 on the BSE. The scrip opened at Rs. 1185.00 and has touched a high and low of Rs. 1218.00 and Rs. 1171.20 respectively. So far 50051 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1328.45 on 05-Feb-2021 and a 52 week low of Rs. 860.05 on 21-May-2020. Last one week high and low of the scrip ...
United Breweries zooms on reporting over 2-fold jump in Q4 consolidated net profit
* Stock has given inverse head and shoulder breakout on two hour chart which consider as reversal pattern. * Decent volume activity has been witnessed at the time of breakout. * Both momentum indicator RSI & MACD are ranging in positive territory. Buy United Breweries Ltd @1150-1155 TGT 1220 Stop Loss Below Rs. 1100 CB Duration 1 Week To Read Complete Report & Disclaimer Click Here For More LKP Securities ...
LKP Spade, Weekly Pick - Buy United Breweries Ltd For Target Rs.1220 - LKP Securities
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