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United Breweries Ltd Q1 consolidated loss at Rs. 114.50 crore

Posted On: 2020-08-14 08:00:42

UNITED BREWERIES LTD. has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.1264.30 crores during the period ended June 30, 2020 as compared to Rs.3100.67 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.(114.50) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.41.82 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.(4.33) for the period ended June 30, 2020 as compared to Rs.1.56 for the period ended March 31, 2020.

FinancialsQ1 FY2020-21Q4 FY19-20% Change
Total Income₹ 1264.30 crs₹ 3100.67 crsDown Tick -59.22%
Net Profit₹ (114.50) crs₹ 41.82 crsDown Tick -373.79%
EPS₹ (4.33)₹ 1.56Down Tick -377.56%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.1264.30 crores during the period ended June 30, 2020 as compared to Rs.4711.67 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.(114.50) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.164.69 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.(4.33) for the period ended June 30, 2020 as compared to Rs.6.23 for the period ended June 30, 2019.

FinancialsQ1 FY2020-21Q1 FY2019-20% Change
Total Income₹ 1264.30 crs₹ 4711.67 crsDown Tick -73.17%
Net Profit₹ (114.50) crs₹ 164.69 crsDown Tick -169.52%
EPS₹ (4.33)₹ 6.23Down Tick -169.5%

Covid-19 lockdown led to complete closure of all outlets for the period March 24 up to May 4. There has been since a gradual and phased re-opening of business, yet parts of the trade remained closed for the full quarter including on premise outlets. Demand and business operations will continue to be impacted directly & indirectly by the pandemic and related State and/or local restrictions from time to time. A number of states have increased taxation levels as a result of the pandemic, yet encouragingly a number of these increases have been reduced since.

UBL commenced the year with no supplies for almost half the first quarter. The primary volumes for the quarter in comparison to the corresponding quarter of the previous year were down 77%, with June '20 volumes progressively improving being 57% down in comparison to the previous year.

The volume impact on Strong beer was higher when compared to Mild beer. The UP market was the least impacted with a decline of 46%, the decline in the markets of North, South and West was close to the National volume decline while the markets in the East declined 90% impacted by States of West Bengal and Orissa.

Since the start of pandemic, UBL has pro actively focused on health & safety measures for its employees and stakeholders, business continuity, business impact mitigations and cash management. The Company has and will continue to manage all elements of costs and capital investments in light of the uncertain demand.

While UBL maintains high level of liquidity, low gearing and is backed by sufficient unutilized banking lines, better working capital management has resulted in reduced interest costs when compared to the corresponding quarter of the previous year. UBL's net debt was up Rs. 120 Cr. when compared to end March 2020, used primarily to fund the cash loss and minimal capex incurred in the quarter.

UBL is well positioned to navigate the current circumstances with a leading market position, strong brand portfolio and robust balance sheet. The company continues to be optimistic about the long term growth drivers of the industry and is committed to strengthen its market position while leveraging newly emerging opportunities such as home delivery.

Shares of UNITED BREWERIES LTD. was last trading in BSE at Rs.964.6 as compared to the previous close of Rs. 988.25. The total number of shares traded during the day was 109936 in over 3538 trades.

The stock hit an intraday high of Rs. 1003 and intraday low of 956.05. The net turnover during the day was Rs. 108184143.

Source: Equity Bulls

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