Heineken’s India operations recorded modest, low single digit revenue growth in the March quarter of 2026. While the overall picture stayed muted, premium beer delivered strong gains, reflecting the company’s push to expand its premium portfolio. It also introduced a new variant aimed at mainstream drinkers, though updated accounting policies muddled volume reporting.
India’s beer industry is facing “major trouble” as war-related cost spikes, supply chain disruptions, and government pricing controls squeeze margins. United Breweries CEO Vivek Gupta says support is needed to keep growth and innovation alive. On the ground, consumers are trading down to cheaper options and buying smaller pack sizes, worsening demand pressure.
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