United Breweries Q4FY23 PAT down sharply lower due to spike in input costs

United Breweries reported 3.32% growth in total revenues for the March 2023 quarter on consolidated basis at Rs1,766cr. On a sequential basis, the revenues were up 9.5%. In terms of the profit performance for the quarter, the results were impacted sharply by higher input costs and higher excise duties. This led to sharply lower profits in the quarter.

On a gross basis the sales revenues were higher in the core beer business but net of excise they took a hit on account of the higher excise duties payable in the quarter. However, on a sequential basis, the company managed to turn around from a small loss into a small profit.

Financial highlights for Mar-23 compared yoy and sequentially

The full year volumes were at an all-time high this year, with year to date volume sup 31% on a yoy basis. However, higher inflation pushed down the EBITDA for the year lower by 8%. The premium beer segment showed much better growth compared to the other segments. The company has spent Rs156 crore on capex during the year.