Revenue distribution by sectors:

• Beer production: approx. 85%
• Beverage distribution: approx. 10%
• Other services: approx. 5%

TOP 3 markets:

1. India: approx. 70%
2. United States: approx. 15%
3. United Kingdom: approx. 10%

United Breweries Limited generates the majority of its revenue from beer production, which is not surprising as the company is known as one of the leading beer manufacturers in India. The domestic market of India is the largest revenue contributor, reflecting the strong market presence and brand awareness in the region.

The United States and the United Kingdom are also significant markets for United Breweries, attributed to the export of premium beer brands and strategic expansion into international markets.

Production Facilities: 21 Breweries in India (as of 2023)

United Breweries Limited, a leading company in the Indian beer market, operates 21 breweries throughout India. These production facilities are strategically located across the country to ensure efficient supply and distribution.

Through this geographical distribution, the company can serve the demand in both urban and rural areas while optimizing logistics costs. The locations are chosen to ensure both the supply of raw materials and access to key markets.

Revenue Growth: Estimated 8-10% annually (2025) Market Share in India: Approximately 50% (2024)

United Breweries Limited (UBL) is pursuing a growth strategy that heavily focuses on consolidating and expanding its market leadership in the Indian beer market. A key component of this strategy is the continuous investment in expanding production capacities to meet the increasing demand.

The company also emphasizes product diversification by introducing new beer brands and flavors to appeal to a broader audience. This includes both premium and more affordable options to cover different market segments.

Another strategic focus is on strengthening distribution channels and increasing brand presence through targeted marketing campaigns. UBL is also investing in digital platforms and e-commerce to enhance direct consumer access and strengthen brand loyalty.

In addition, UBL is exploring opportunities for expansion into international markets to leverage growth potential outside of India. This could be achieved through strategic partnerships or acquisitions to expand global reach.

Imported Raw Materials: Barley, Hops, Malt

Countries of Origin:

• Barley: Australia, Canada
• Hops: Germany, USA
• Malt: Belgium, France

United Breweries Limited imports essential raw materials such as barley, hops, and malt, which are crucial for beer production. Barley is mainly sourced from Australia and Canada, as these countries are known for their high quality and production capacity. Hops are imported from Germany and the USA, as these countries are leading in the production of high-quality hops. Malt is imported from Belgium and France, where it is traditionally produced in high quality.

These import strategies help United Breweries ensure a consistently high quality of their products and adhere to international standards.

Market share in India: approximately 50% (2024)
EBITDA margin: 18.5% (2024)
R&D expenses: 2% of revenue (2024)

United Breweries Limited (UBL) has a significant competitive advantage in India, mainly due to its dominant market share of about 50%. This gives the company a strong negotiating position with suppliers and distributors, as well as a substantial presence in key sales markets.

The EBITDA margin of 18.5% indicates that UBL operates efficiently and is able to generate solid profits, reflecting effective cost control and pricing. This is competitive compared to other companies in the brewery industry.

Additionally, UBL invests approximately 2% of its revenue in research and development, indicating a continuous effort in innovation. This helps the company adapt to changing consumer preferences and develop new products that meet market demands.

Overall, United Breweries Limited's competitive advantage is strong, supported by market leadership, operational efficiency, and innovation capabilities.

Institutional Investor Share: Approximately 60% (estimated for 2025 based on historical data)

Insider Buys/Sells: No significant transactions in the last year (2024)

United Breweries Limited has traditionally had a high institutional investor share, which has been around 60% in recent years. These investors appreciate the company's stable market position and growth potential.

In 2024, there were no significant insider transactions, indicating a stable confidence of the management in the company's future development. This can be seen as a positive signal for investors, as it reflects continuous support and confidence from the leadership.

Market share of United Breweries Limited: 45% (2025, estimated)

Top competitors and their market shares:

1. Anheuser-Busch InBev: 25%
2. Carlsberg Group: 15%
3. Heineken N.V.: 10%
4. Molson Coors Beverage Company: 3%
5. SABMiller (part of AB InBev): 2%

United Breweries Limited holds a significant market share of about 45% and is the leading provider in the Indian beer market. The biggest competitor, Anheuser-Busch InBev, follows with a market share of 25%, while Carlsberg and Heineken also hold significant shares.

The moat of United Breweries is characterized by several factors: a strong brand presence, especially through their Kingfisher brand, an extensive distribution network in India, and a deep-rooted presence in the local market. These factors provide the company with a significant competitive advantage over international competitors.

In comparison, international competitors like Anheuser-Busch InBev and Heineken have strong global brands and financial resources, but not the same level of local market knowledge and presence as United Breweries. Therefore, one could argue that United Breweries has a stronger moat in the Indian market, while international companies may have broader moats globally.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Market Share in India: 50% (2024)

United Breweries Limited recorded a revenue growth of 8.5% in 2024, attributed to strong demand for their products and an effective market strategy. Profit growth was at 10.2%, indicating efficient cost controls and improvement in operational margins.

The company holds a dominant market share of 50% in India, highlighting its strong position in one of the world's largest beer markets. This market leadership provides a solid foundation for future growth, especially as consumer demand in India continues to rise.

In addition, United Breweries is investing in innovations and expanding their product range to meet changing consumer preferences. These strategic initiatives could lead to further strengthening of their market position in the long term.

Overall, the current financial figures and strategic direction suggest that United Breweries Limited represents a promising investment, especially for investors interested in a long-term growth strategy.

Dividend Yield: 1.8% (2024)
Dividend History: Continuous payout over the last five years

United Breweries Limited has regularly distributed dividends in recent years, indicating a reliable dividend policy. The dividend yield was last around 1.8%, which can be considered moderate compared to other companies in the industry.

Despite economic fluctuations, the company has maintained its dividend policy, indicating a stable financial foundation and a strong market position. Therefore, investors can expect a certain level of reliability regarding future payouts, provided there are no significant negative changes in the company's performance or market environment.