Shares of United Breweries were locked at 10% upper circuit during the closing hours on 24 April after the company announced a strong Q4 report. 

In its quarterly report for January-March, the company reported that its net revenue grew by 20%, driven by a strong volume and positive price mix. 

The premium portfolio, anchored by Kingfisher Ultra and Heineken Silver, saw volume growth in the low 20s, while the company’s volumes increased in the low teens. 

The firm also celebrated International Women’s Day on 8 March by launching Queenfisher, a new beer. Heineken NV, the parent firm, had a 4.7% increase in beer volumes, while premium beer volumes increased by 7.3%.

“Beer volume increased 4.7% organically with growth in all regions, a sequential improvement in the performance of the business, boosted by calendar and one-off effects. In particular, the Americas and Europe regions benefited from the earlier timing of Easter and the Africa and Middle East and Asia Pacific regions from a soft comparable base last year due to one-off effects in Vietnam and Nigeria,” Heineken NV said in a press release.

With a 10% increase from the previous close, United Breweries’ stock ended the day at Rs 2,046.20 on the National Stock Exchange. The stock has increased by 12% since 1 January and by 26% over the last six months. 

In addition, volumes at the counter surged as 25 lakh shares were exchanged, compared to the 3 lakh daily traded average over a one-month period.

At 3:30, the shares of United Breweries closed 10% higher at Rs 2,046.20 on NSE.