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United Breweries | India's largest beer company, owner of Kingfisher

2026.09.19

Article summary

United Breweries (UBL) is India's largest beer company, headquartered in Bengaluru and part of the Heineken group. In FY2026 (fiscal year ended March 2026) revenue net of excise duty was ₹9,240 crore (1 crore = 10 million rupees), against ₹8,915 crore the year before, but on a gross basis including excise duty it fell about 10% to ₹17,508.66 crore, and net income also declined to ₹413 crore. That year it sold 207 million cases across 13 brands and 28 products and exported to more than 50 countries. Kingfisher is its mainstay, while Heineken and Amstel take the higher price tiers.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

United Breweries (UBL) is India's largest beer company, with Kingfisher as its mainstay, and it belongs to the Heineken group of the Netherlands.

Company profile

Item	Details
Legal name	United Breweries Limited
Headquarters	Bengaluru (Karnataka)
Parent company	HEINEKEN group
Revenue	₹9,240 crore net of excise duty (FY2026 = fiscal year ended March 2026 / approx. 160.8 billion yen). On a gross basis including excise duty, ₹17,508.66 crore, down about 10% year on year. Net income was ₹413 crore, down from ₹442 crore the year before
Main brands	Kingfisher, Kingfisher Ultra, Ultra Max, Heineken, Heineken Silver, Amstel, UB Export, London Pilsner, Bullet, Kalyani Black Label
Sales scale	13 brands and 28 products, 207 million cases in FY2026. Exports to more than 50 countries
Listing	Listed on the BSE and NSE
Official website	unitedbreweries.com

Business and strengths

Alcoholic drinks in India have different licensing, taxation and distribution in every state, and the conditions change each time you cross a state line. UBL has breweries and contract partners in each state and has built an organization able to handle that complexity.

It holds the mass-market tier with Kingfisher while going after the higher price tiers with Heineken and Amstel.

Recent developments

In FY2026 (fiscal year ended March 2026), revenue net of excise duty rose to ₹9,240 crore from ₹8,915 crore the year before, while on a gross basis including excise duty it fell about 10% to ₹17,508.66 crore and net income declined to ₹413 crore. That year it sold 207 million cases across 13 brands and 28 products and exported to more than 50 countries.

Points for Japanese companies

For a Japanese brewer entering India, assembling its own brewery and state-by-state licenses is not realistic. The choice comes down to contract brewing with an existing beer company such as UBL or coming in through imports. It is also a company worth studying to understand how complex the state-level rules are.