United Breweries Q2 Review - Close To The End Of De-Growth Cycle: Dolat Capital

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..Dolat Capital Report.United Breweries Ltd.’s Q2 FY22 operating performance was marginally below estimates. Volumes increased by 49% YoY but still down 22% versus pre-Covid-19 levels on account of West and South market. A modest 60 basis points YoY decline in gross margin is positive in-light of 15% YoY barley inflation.Post healthy operating performance over FY17-19, United Breweries’ performance had been muted for the last ten quarters. That said, with-favorable base,costs rationalisation,opening of ontrade,reduction in excise duties in key states (West Bengal, Uttar Pradesh, Rajasthan etc) andkey beer season ahead; United Breweries is well-posed to register a robust volume growth and earnings recovery. .Click on the attachment to read the full report:.DISCLAIMERThis 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 author entity 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.

United Breweries Q2 Review - Close To The End Of De-Growth Cycle: Dolat Capital

United Breweries Q2 Review - Close To The End Of De-Growth Cycle: Dolat Capital

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