Financial Overview

Business Overview

Anheuser Busch InBev India Limited (formerly SABMiller India Limited) is a leading beer manufacturer in India. Its principal product is malt-based beer, with its highest revenue contributing product category coded 22030000 (beer made from malt). The company’s major revenue is derived from its beer segment and it operates as an unlisted, non-government company headquartered in Mumbai.

2022-2023 Financial Highlights

All data below are taken directly from independently audited and officially reported sources for the financial year ending March 31, 2023.

Key Financials (INR Millions)

• No dividend was declared for FY 2022-23 due to negative distributable profits.

• Overall, turnover grew by approximately 72% and total expenditure grew by around 64% in FY 2022-23 compared to the previous year.

• Net losses widened by about 20% in FY 2022-23.

• The company had no subsidiaries, joint ventures, or associates as of March 31, 2023.

• The audit report contains a qualified opinion noting non-compliance with certain sections of the Companies Act and incomplete supplier information for MSMED Act compliance.

Share Capital Structure (as of March 31, 2023)

Key Takeaways

• Revenue growth was robust in FY 2022-23, but profitability continued to be negative.

• Beer made from malt remains the core business segment and primary driver of revenue.

• The latest published financial results for FY 2022-23 are as provided above, reflecting both strengths in top-line growth and areas for improvement in profitability and compliance.

Business Segments 

Anheuser Busch InBev (SabMiller) India operates mainly in the premium beer segment, but its diversified brand strategy allows it to cater to various customer preferences across price points and geographies.

1. Premium Beer Segment – Includes global brands like Budweiser, Corona, and Hoegaarden. These drive urban growth and cater to aspirational consumers.

2. Mainstream Strong Beer Segment – Brands like Haywards 5000 and Knock Out cater to mass-market consumers with higher alcohol content preferences.

3. Craft & Flavored Beer Line – Through Hoegaarden and local innovations, Anheuser Busch Inbev explores new-age flavors and limited-edition launches.

4. E-Commerce & Online Retail Distribution – The company leverages direct-to-consumer platforms in metro cities for faster delivery and wider reach.

5. Sustainability & ESG Initiatives – A dedicated segment focused on green brewing, waste reduction, and water neutrality goals by 2028.

This business segmentation helps Anheuser Busch Inbev remain agile in a market that is both highly regulated and constantly evolving with young, experimental consumers.

Subsidiaries & Group Companies 

AB InBev India functions as part of a larger global framework under Anheuser Busch InBev, which is headquartered in Belgium and is the world’s largest brewer by volume.

Key subsidiaries and group entities include:

• Crown Beers India Private Limited – Responsible for Budweiser and Corona production.

• InBev India International Private Limited – Handles brand imports, premium segment development, and licensing in India.

• UB India (merged legacy) – Some assets from SabMiller and United Breweries are managed under transition via Anheuser Busch Inbev.

• Global Brands Licensing Unit – This vertical ensures the smooth adaptation of international beer formulas under Indian compliance.

• Z-Tech India Ventures – An innovation arm working on digital beer tech, sustainability, and R&D for future-ready brewing solutions.

AB InBev has a massive global portfolio with more than 500 beer brands, including well-known names like Stella Artois, Beck’s, and Michelob Ultra. In India, the core business is streamlined through strategic partnerships with logistics and raw material suppliers, enhancing local supply chain efficiencies.

The Indian subsidiary remains a strategic focus area as beer consumption per capita in India still remains significantly lower than global averages, offering long-term growth headroom.