1. United Breweries Limited Year Briefing – April 05-March 06
Presentation May 2006

2. Key Highlights – 12 months
Volume growth of 19% and 22% in UBL & in the combined business respectively and continues to outperform the industry
Record sales for Kingfisher lager >20m
Kingfisher strong reaches No1 position in strong beer segment, sales >17m
Out beats Industry growth of 14% (1051 mio against mio)
Market share as on March 06 40% (combined 50.3%)
Margins up from 13% to 20% of NSR
Two fold increase in EBITDA and three fold increase in PAT
Stock split announced

3. Summary P & L Rs.16.46 cr 3% Volume Increase Rs.55.97 cr 10%
Realisation increase
Rs cr 3%
Volume Increase
Rs cr
10%
Interest income
Reduction
Rs.9.57 cr
(2%)
Input cost reduction
Bottles Rs.9.78 cr 2%
Other cost
Increase Rs cr
(2%)
PBIDT % margin for
10% on the NSR of
Current year
Hence net increase is 10%

4. Summary Balance Sheet

5. Key Ratios

6. Key Drivers of Performance
Volume growth
Implementation of price increase in key states
Reduction in cost of sales driven by bottle cost
Synergized operation between UBL & MAL

7. Growth Chart

8. Market Share

9. Average Realization and Cost of sales
Realization drivers:
Andhra – Price revision after 7 years
Kerala – Price revision after 4 years
Delhi – Matched Kerala prices
Rajasthan – Auction market to Govt. distribution, policy changes
Rationalization of market spends consequent net retention increase
Aggressive price revision to offset bottle cost push
Cost Drivers:
Rationalization in bottle prices
Optimization of Power & inputs costs
Synergy of operation – economies of Scale

10. Thank You