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Informist, Thursday, Apr. 23, 2026

 

KOLKATA - The world's second-largest beer company, Heineken N.V. Thursday reported a low-single-digit revenue growth in India in the March quarter as sales volume of beer grew by only mid-single-digit. This is expected to have a bearing on the March quarter performance of India's largest beer company, United Breweries Ltd., in which the Netherlands-based company holds 61.5% stake.

 

In its March quarter performance report released on Thursday, Heineken said sales of premium products in the March quarter grew in mid-teens led by Kingfisher Ultra. The company launched Kingfisher Smooth, a lower bitterness beer to reinforce Kingfisher's leadership in the mainstream beer segment in India.

 

A sector analyst with a domestic brokerage in India said that Heineken's net revenue grew by only 2-3% on year in India with a volume growth of 4-5%. "Based on what Heineken said, United Breweries is likely to report soft topline growth (in the March quarter)," the analyst said.

 

Based on the estimates from nine brokerages, United Breweries is expected to report around 6% on-year top line growth with an over 17% bottom line growth at INR 25 billion and INR 1.1 billion, respectively, in the March quarter. The company will declare its March quarter results on May 5.

 

United Breweries is estimated to hold over 54% market share in the beer market in India with leading brands such as Kingfisher and Heineken.

 

Heineken said total sales volume across the globe grew 1.2% on year in the March quarter, with growth in the Asia Pacific region and Africa & West Asia region, which offset decline in volume in the Americas and Europe. Sales volumes in Asia Pacific region grew 10.1% on year and in Africa and West Asia, it increased by 2.3% on year. However, sales volume in the Americas fell 2.6% on year and Europe saw a 1.8% on year decline. 

 

In a statement, Heineken said that in the Asia Pacific region, of which India is a part, strong growth in Vietnam more than offset continued market challenges in Cambodia. However, the reclassification of contract brewer volumes in India to licensed volume negatively impacted consolidated volume growth by 180 basis points in the Asia Pacific region. However, the reclassification of sales volume in India led the licensed volume in the region to grow 43.8% in the March quarter. 

 

At 1402 IST, shares of United Breweries were down 0.3% at INR 1,495.70 on the National Stock Exchange. End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Avishek Rakshit

Edited by Ashish Shirke

 

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