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Business Standard
02-06-2025
- Business
- Business Standard
United Breweries to shut Mangalore brewery, plans Nanjangud expansion
Beer maker United Breweries Ltd has announced plans to wind up operations at its Mangalore brewery unit in Karnataka with effect from June 30, 2025. 'We wish to inform that the company has decided to close its brewery unit situated at Plot No. 310, 311, 322E, Industrial Area, Baikampady, Mangalore – 575011, Karnataka ('Mangalore Brewery'/'Unit') effective June 30, 2025,' the company said in an exchange filing. The move is part of a consolidation effort in its brewery operations, and the company plans to expand its Mysuru brewery. 'We have initiated a strategic capacity consolidation and are pursuing expansion at our Nanjangud brewery in Mysuru, where we are making significant investments to scale our supply chain efficiencies,' the company said. The planned expansion is intended to effectively meet future demand through improved operations within Karnataka. 'The closure of the Mangalore brewery will not impact our business performance in the state,' the company said. Q4FY25 results UBL's consolidated net profit rose by 19.87 per cent to Rs 97.76 crore in the January–March quarter of FY25, compared to Rs 81.55 crore in the same quarter the previous year. According to a regulatory filing by UBL, which is under the control of Dutch brewing giant Heineken NV, its revenue from operations declined by 7.54 per cent to Rs 4,427.15 crore in the March quarter, down from Rs 4,788.68 crore in the same period last year. The company's total expenses for the March quarter stood at Rs 4,303.09 crore, an 8.54 per cent decrease. UBL's total income, including other income, declined by 7.9 per cent to Rs 4,435.16 crore in the March quarter. The company's net profit for the financial year ending March 31, 2025, rose by 7.67 per cent to Rs 442.41 crore, compared to Rs 410.86 crore in the previous year.
Time of India
28-05-2025
- Business
- Time of India
AU Small Finance Bank buys Mumbai's Bandra Vishwas Tower for Rs 371 crore
MUMBAI: A commercial building near the western express highway in Bandra (East) has been sold for Rs 371 crore. The 11-storey tower, Vishwas, will have a new owner, AU Small Finance Bank, which purchased the property from developer Samir Bhojwani's Earthworth Constructions. Tired of too many ads? go ad free now The agreement was registered on Tuesday, and a stamp duty of Rs 22.26 crore was paid. The building was earlier occupied by United Phosphorus Ltd (UBL), which had taken the building on a 10-year-lease. UBL vacated the building last year after the lease expired. People familiar with the transaction said AU Small Finance Bank will use this tower as its new corporate headquarters.
Time of India
21-05-2025
- Business
- Time of India
United Breweries shares in focus after leasing Andhra facility to ramp up Kingfisher production
Shares of United Breweries Ltd (UBL), India's largest beer maker and part of the HEINEKEN group, will be in focus on Wednesday after the company entered a leasing agreement with Ilios Breweries Pvt. Ltd. to expand its manufacturing capacity in Andhra Pradesh . The move aims to strengthen UBL's supply chain and meet growing demand for Kingfisher and other offerings in the region. The lease arrangement became effective on 20 May, following excise approval a day earlier. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo UBL already operates a wholly owned brewery in Ranasthalam, Srikakulam district. The newly leased facility is expected to boost distribution efficiency and support higher volumes during the peak season. The company attributed the expansion to evolving consumer preferences and regulatory support for lower-alcohol beverages. Also Read: Crompton Greaves, Delhivery among 10 mid-cap stocks analysts expect to rally up to 53% The manufacturing expansion comes on the heels of strong financial results for the January–March quarter. UBL reported a 20.5% year-on-year increase in standalone net profit to Rs 97.4 crore. Revenue rose 8.9% to Rs 2,321.3 crore, while EBITDA jumped 31.2% to Rs 186.3 crore, with margins improving to 8%. Live Events Vivek Gupta, MD and CEO of UBL, said the company expects to maintain double-digit growth in both volume and revenue in FY26, led by premiumisation. Premium beer volumes grew 34% in FY25, and UBL aims to build on this momentum despite a challenging operating environment. Also Read: Street Favourite! SBI, Tata Motors among 10 large-cap stocks analysts expect to rally up to 32% United Breweries share price target According to Trendlyne, the average target price for United Breweries is Rs 2,048, suggesting a potential upside of 1% from current levels. The stock holds a 'Hold' rating from 16 analysts. United Breweries shares price performance United Breweries shares have gained 9% in the past six months and 43% over the last two years. The company's market capitalisation stands at Rs 53,486 crore.
Express Tribune
17-05-2025
- Business
- Express Tribune
PSX loses ground in range-bound session
Listen to article The Pakistan Stock Exchange (PSX) closed lower on Friday as the benchmark KSE-100 index dropped over 300 points after a range-bound session. The index oscillated between the intra-day high of +544 points and intra-day low of -421 points, reflecting investor caution after recent record-breaking gains. The muted sentiment was largely driven by a lack of fresh triggers and a wait-and-see approach ahead of the weekend. Positive contributions from Engro Holdings, Systems Limited, Bank AL Habib, UBL and Bank Alfalah added 271 points, but were outweighed by declines in Fauji Fertiliser Company (FFC), Lucky Cement, Mari Petroleum, OGDC, PSO and Engro Fertilisers, which dragged the index down by 476 points. At the close of trading, the benchmark KSE-100 index posted a decline of 312.77 points, or -0.26%, and settled at 119,649.14. "Stocks closed lower amid dismal data of RDA inflows that decreased 25% MoM to $177 million and a lower current account surplus of $12 million for April. Fears about the IMF-driven new tax measures in the federal budget for FY26 impacted sentiment," said Arif Habib Corp MD Ahsan Mehanti. "Falling global crude oil prices, concerns over a lower industrial base tariff reduction and government's claims of savings from the IPPs' revised contracts and the Senate's approval of the IMF-driven higher grid levy under the CPP Levy Bill 2025 played the role of catalysts in the bearish close." Arif Habib Limited (AHL) wrote in its daily commentary that despite a strong weekly performance, Friday's session saw mixed activity with 46 stocks advancing and 53 declining. Top contributors to the index included Engro Holdings (+0.96%), UBL (+0.65%) and Bank AL Habib (+1.01%) while FFC (-1.47%), Lucky Cement (-1.47%) and Mari Petroleum (-1.36%) weighed on the index. On the trade front, Pakistan has proposed a zero-tariff bilateral trade agreement with the United States, aiming to boost economic cooperation across key sectors. On the macroeconomic side, April's current account surplus came in at $12 million, sharply lower than $315 million in April 2024 and $1.2 billion in March 2025, reflecting pressure from rising imports and lower remittances, AHL added. Topline Securities' market review said that a range-bound session was observed at the exchange as the index traded between the intra-day high of +544 points and intra-day low of -421 points to finally settle at 119,649 (down 0.26%). The lacklustre activity could be attributed to a lack of triggers and investors' preference to remain on sidelines before the weekend after the index touched its higher-ever level. Top positive contribution to the index came from Engro Holdings, Systems Limited, Bank AL Habib, UBL and Bank Alfalah as they cumulatively contributed 271 points. On the other hand, top negative contributors were FFC, Lucky Cement, Mari Petroleum, OGDC, PSO and Engro Fertilisers as they pulled the index down by 476 points, it said. Topline pointed out that investor interest was observed in the engineering sector in the second half, where the heavily import-dependent sector gained ground, largely on news that the prime minister had given directives for abolishing the additional customs duty and the regulatory duty over the next four to five years. Also, the PM has approved a proposal to cap customs duty at a maximum of 15%. Overall trading volumes were recorded at 572.3 million shares compared with the previous tally of 699 million. The value of shares traded during the day was Rs29.03 billion. Shares of 465 companies were traded. Of these, 206 stocks closed higher, 209 fell and 50 remained unchanged. At-Tahur Ltd was the volume leader with trading in 44.6 million shares, gaining Rs0.51 to close at Rs49.83. It was followed by Cnergyico PK with 32.3 million shares, losing Rs0.17 to close at Rs7.68 and Lotte Chemical with 28.6 million shares, gaining Rs1.29 to close at Rs20.98. During the day, foreign investors sold shares worth Rs165 million, according to the NCCPL.
Business Recorder
14-05-2025
- Business
- Business Recorder
Agriculture: UBL, STL sign deal to promote mechanisation
KARACHI: UBL and Shahzad Trade Link (STL) have signed an agreement to promote the mechanization of agriculture farms in Pakistan. The signing ceremony, held in Karachi was attended by Abdul Aleem Qureshi, Group Executive, Branch Banking and Shahzad Riaz Proprietor, STL along with other senior executives from both organizations was held at the UBL Head Office, Karachi. As pert agreement, both entities have agreed to ensure the availability of Belarus Tractors to the farmers through subsidized financing rate and quick delivery. The agreement focuses on joint sales promotion to encourage small and medium sized land holders to adopt farm mechanization solutions. Under the Farm Mechanization scheme, UBL and STL will collaborate to provide direct agricultural loans at flat mark-up rate of 9.5 percent, with repayment spread over five years' tenure. The partnership between the two entities will help promote the financial inclusion and boost farmer-economics in the country. Copyright Business Recorder, 2025
