Brands
United Breweries Q3 profit jumps 86 per cent on premium beer growth
Premiumisation drives margins higher as net profit more than doubles in the December quarter.
MUMBAI: United Breweries Limited (UBL) has clearly decided that when life gives you lemons, you should probably just make a Shandy or, better yet, launch a premium lager. The beer behemoth reported a sparkling set of financial results for the quarter ended 31 December 2025, proving that its strategy is far from going flat. In a performance that would make any publican proud, the company saw its Earnings Before Interest and Taxes (Ebit) skyrocket by a heady 86 per cent during the quarter.
The secret behind this intoxicating growth? A stiff dose of “premiumisation”. While the broader portfolio stayed steady, premium volumes bubbled up by 23 per cent year-to-date. This shift towards the finer things in life helped drive net sales up by 4 per cent in Q3, despite a slight dip in total revenue from operations, which stood at Rs 3,93,563 lakhs compared to Rs 4,42,465 lakhs in the same period last year.
The bottom line is looking particularly crisp. The company’s Gross Profit (GP) margin for the quarter hit 45.3 per cent, the highest level seen in three years. This 222-basis-point jump was fueled by a positive price-mix and a savvy move towards localising the portfolio.
Key standalone financial highlights for the quarter show a strong improvement across the board. Total income stood at Rs 3,94,648 lakhs, while profit before tax rose sharply to Rs 13,186 lakhs, compared to Rs 6,097 lakhs in the quarter ended December 2024.
Net profit came in at Rs 8,083 lakhs, more than doubling the previous year’s Q3 figure of Rs 3,826 lakhs. Earnings per share (EPS), both basic and diluted, increased to Rs 3.06 from Rs 1.45 year-on-year.
It wasn’t all cheers and celebratory rounds, however. UBL is still navigating some murky legal waters. The company continues to contest a Rs 75,183 lakh penalty from the Competition Commission of India (CCI), a matter that is currently sub judice before the Supreme Court. Additionally, the company is still untangling itself from the Bihar prohibition blues. While manufacturing remains closed in the state, UBL has applied under the “Amnesty Policy 2025” to potentially restart non-alcoholic beverage production at its Bihar unit, which holds assets worth Rs 5,894 lakhs.
There was also a one-off “exceptional” hit to the books. The company set aside Rs 1,873 lakhs in the quarter to account for the incremental impact of India’s new Labour Codes, specifically regarding gratuity and long-term compensated absences.
Looking ahead, UBL is keeping its glass half full. The firm’s “Productivity and Cost-Effectiveness” programme is expected to deliver gross savings of 3–6 per cent over time, with much of that cash being reinvested into brand power. Innovation remains on the menu too, with the recent January 2026 launch of Kingfisher Smooth in Rajasthan and Karnataka aimed at quenching the evolving thirst of the Indian consumer.
With brand power at a three-year high and a clear focus on the premium end of the bar, United Breweries seems well-positioned to keep the momentum flowing through 2026. It appears that for UBL, the only way is up, and preferably served chilled.
Brands
Reebok partners with Jerai Fitness for gym equipment in India
Long-term deal to manufacture and distribute Reebok-branded fitness products from April 2026.
MUMBAI: Reebok is pumping up its presence in India and this time, it’s bringing serious muscle to the gym floor. Jerai Fitness Limited, an Indian manufacturer with over three decades of experience in fitness equipment, has announced a first-of-its-kind long-term partnership with Reebok. Under the agreement, Jerai Fitness will manufacture and distribute Reebok-branded gym equipment across India and neighbouring countries including Sri Lanka, Bangladesh and Nepal. The products will be available from 1 April 2026.
The collaboration combines Jerai Fitness’ fully automated, technology-driven manufacturing facility with Reebok’s global brand legacy to redefine the fitness equipment ecosystem in the region.
Jerai Fitness Limited chairman & managing director Rajesh Rai said the partnership leverages advanced manufacturing capabilities to deliver high-quality products tailored to market needs.
Authentic Brands Group EVP of Reebok Steve Robaire noted that India is a dynamic and fast-growing fitness market. “Jerai Fitness brings the manufacturing expertise and local insight needed to deliver high-quality, performance-driven equipment at scale,” he said.
The partnership will introduce a comprehensive commercial range covering cardio, free weights, and high-end home-use equipment under two distinct series. All products adhere to international standards, including ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ASTM certifications, and European safety standards EN ISO 20957-1:2013, EN 957-2:2003 and EN 957-4:2006.
Jerai Fitness’ manufacturing facility features fully automated production systems and dedicated storage infrastructure. As of 31 August 2025, it had an installed annual capacity of 21,000 units.
The Reebok-branded equipment will be available pan-India through Jerai Fitness showrooms and official websites jeraihomegym.com and jeraifitness.com.
In a market where fitness goals are rising faster than dumbbells, this partnership gives Reebok the local strength it needs while giving Jerai Fitness a powerful global brand to flex. For Indian fitness enthusiasts and gym owners, the workout just got a stylish upgrade.
