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News Topical, Digital Desk : United Breweries Limited (UBL) informed after the stock market closed on Monday that the company has started production of its flagship brand Kingfisher at the recently leased Ilios Brewery in East Godavari, Andhra Pradesh. The company is a part of the HEINEKEN company. The company said in the information given to the exchange that this step is an important milestone towards strengthening the company's manufacturing capacity in Andhra Pradesh.
The company said that this state-of-the-art brewery has a monthly production capacity of 4.5 lakh cases, which will complement the 12 lakh case capacity brewery located at Srikakulam and meet the growing demand in the region.
Ready to meet consumer demand UBL MD and CEO Vivek Gupta said, "The start of production at Ilios Brewery reflects our commitment to sustainable growth. With local production, strong supply chain and long-term value for the local ecosystem, we are ready to meet the growing consumer demand." The company said that this brewery provides employment to more than 500 people directly and indirectly and is also creating opportunities in ancillary industries like packaging, logistics and distribution.
Share performance The company's stock closed at Rs 1,798.70 on Monday, down 2.71 per cent. In the last one year, the company's stock has fallen by 11.42 per cent.
Read More: This stock is in trouble, after rising 3000% in one day, 70% of the capital was lost in just 3 days
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