United Breweries' share price dropped 5% on the Bombay Stock Exchange (BSE), reaching a 52-week low of ₹1,383 per share, as the company expressed concerns over profitability due to the ongoing Iran war. The conflict is anticipated to keep input and logistics costs elevated in the near term. In its Q4FY26 results, United Breweries reported a 3% year-on-year decline in net sales, totaling ₹2,247.8 crore, despite a 4.1% increase in volumes to approximately 54 million cases. This growth was primarily driven by strong demand for its premium products, which saw a 16% increase in volumes. However, EBITDA fell nearly 25% to ₹139 crore, with margins contracting sharply by 183 basis points to 6.2% due to rising operational costs. Analysts from Equirus Securities have downgraded their estimates for the company, citing sustained cost pressures and limited visibility on margin recovery. They project a ₹400-500 crore cost headwind over the next 2-3 quarters, which is expected to weigh on profitability. Despite these challenges, United Breweries maintains a long-term positive outlook, supported by its strong market position and ongoing productivity initiatives.