United Breweries shares tumble to 52-week low as Q4 revenue declines amid Middle East conflict; dividend recommended

At around 11:37 AM, the stock was trading 3.54% lower at ₹1,402.30 per equity share. It had hit a year’s high of ₹2,245 per unit on May 8, 2025.

The scrip has fallen 5% in the past week and over the month. On a year-to-date basis, it has declined 13%.

United Breweries Q4 results

The firm reported a 4.31% year-on-year (YoY) increase in its consolidated net profit (attributable to owners of the company) to ₹101.78 crore during the quarter under review, compared to ₹97.57 crore in the year-ago period.

However, its revenue from operations fell 0.4% YoY to ₹4,408.41 crore in the March quarter of FY26, as against ₹4,427.15 crore in Q4 of the 2024-25 fiscal year (Q4 FY25).

For the reporting quarter, 80% of its markets returned to growth, and premium brands, such as Kingfisher Ultra, Kingfisher Ultra Max, and Heineken Silver, showed robust performance.

Its overall volumes increased, especially in the premium segment, though net sales were slightly down in Q4 FY26 due to the source mix, according to a regulatory filing. The premium segment recorded a 16% YoY growth in the January-March quarter.

Its volumes grew 4.1% YoY in the quarter, bolstered by Andhra Pradesh, Assam, and Maharashtra, and partially offset by a decline in Rajasthan, Telangana, and Odisha.

On a full-year basis, it saw its volumes growing 3%, with premium volume growth at 21%.

Middle East conflict impacts supply chain

“The Company is positive about the revival of growth in the beer category in Q4 FY’26 and the positive regulatory shifts in the past few months that have augured well for the beer industry in India,” it said.

However, the ongoing Middle East conflict has disproportionately impacted the Indian beer industry, including heightened supply chain disruptions, inflationary pressures, and reduced profitable export volumes, United Breweries stated.

The conflict has led to a significant increase in the costs of raw and packaging materials, transport, and other operating costs. Furthermore, the surge in costs, coupled with sustained competitive intensity, is expected to impact the ensuing quarters, the firm added.

United Breweries expects the cost impact to be in the range of ₹400-500 crore for the next two to three quarters.

“We have initiated various mitigating actions on pricing (with multiple State Governments) and operating cost optimization,” it stated, adding that it will further accelerate the structural interventions on productivity, cost efficiency, and continue its engagement with the regulators.

Despite the headwinds and short-term volatility, the company said it remains optimistic about the long-term growth prospects of the beer category in India.

“We believe that our manufacturing network, organizational capabilities and strategic investments continue to position us favorably for the future,” it added.

United Breweries recommends ₹10/share dividend

The board of directors of United Breweries also recommended a final dividend of ₹10 per equity share with a face value of ₹1 each for the financial year ended March 31, 2026, subject to approval of the Members at the ensuing Annual General Meeting (AGM).

“Accordingly, the dividend, if approved by the shareholders, will be paid on or before Thursday, September 10, 2026,” the filing stated.

Furthermore, it set Friday, August 7, 2026, as the record date for the same.

The board also stated that the company’s 27th AGM will be held on Wednesday, August 12, 2026.

United Breweries has a total market capitalisation of ₹37,069.60 crore as of May 6, 2026, according to data on the NSE.