Overview
Dutch brewing major Heineken NV, which owns United Breweries Ltd (UBL), reported a mid-single-digit decline in beer volumes in India for the September 2025 quarter. The drop was attributed to unusually heavy monsoon rains across key regions that affected consumer demand and supply chains.
Despite the fall in sales volume, organic net revenue rose in the mid-single digits, supported by price hikes and a favorable portfolio mix across major states.
Heineken India Q3 2025 Snapshot
| Metric | Performance / Remarks |
|---|---|
| Beer Volume (India) | Fell by mid-single-digit due to strong monsoon |
| Net Revenue (India) | Grew by mid-single-digit, supported by price mix |
| Price-Mix Growth | Expanded by high single-digit |
| Premium Segment | Volume grew in low teens — driven by Kingfisher Ultra Max and Amstel Grande |
| Asia-Pacific Net Revenue | Up 5.6% organically |
| Asia-Pacific Volume | Down 0.8% |
| Global Organic Beer Volume | Declined 4.3% |
| Global Revenue (Q3 2025) | €8.7 billion (down 4%) |
| Premium Beer Volume (Global) | Down 2.2% — India among growth markets |
| Strong Markets for Amstel | India, South Africa, Romania, Tunisia, Ecuador |
| UBL Ownership by Heineken | 61.5% stake |
| Major Indian Brands (UBL) | Kingfisher, Kalyani Black, Bullet, Maharaja Premium, Taj Mahal Premium |
| International Brands Sold in India | Heineken, Amstel Bier, Sol |
Market Context
The unusually heavy monsoon in July and August 2025 disrupted beer consumption and distribution, affecting several FMCG and beverage companies. Still, Heineken noted that it outperformed the market and gained or held volume share in most operating regions — including India, Vietnam, Nigeria, and Mexico.
