UNITDSPR
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India's United Spirits falls on margin miss
** Shares of India's United Spirits UNSP.NS drop 2.4% to 1285 rupees, set for third straight session of losses
** Co's Q3 profit rises 12% yoy; rev up 3% yoy
** Brokerage CLSA ("hold", PT at 1300 rupees) says co missed expectation on EBITDA, margins driven by higher marketing spend
** Brokerage Investec says co's margin contracted 35 bps yoy to 16.8%, missing estimates
** Solid net sales value (NSV) growth, but volumes below expectations- Investec ("buy", PT at 1673 rupees)
** UNSP rated "buy" on avg by 23 analysts covering it; median PT at 1640 rupees- data compiled by LSEG
** In 2025, UNSP lost 11%
(Reporting by Komal Salecha in Bengaluru)
** Shares of India's United Spirits UNSP.NS drop 2.4% to 1285 rupees, set for third straight session of losses
** Co's Q3 profit rises 12% yoy; rev up 3% yoy
** Brokerage CLSA ("hold", PT at 1300 rupees) says co missed expectation on EBITDA, margins driven by higher marketing spend
** Brokerage Investec says co's margin contracted 35 bps yoy to 16.8%, missing estimates
** Solid net sales value (NSV) growth, but volumes below expectations- Investec ("buy", PT at 1673 rupees)
** UNSP rated "buy" on avg by 23 analysts covering it; median PT at 1640 rupees- data compiled by LSEG
** In 2025, UNSP lost 11%
(Reporting by Komal Salecha in Bengaluru)
United Spirits Q3 Profit 5.29 Billion Rupees
Jan 20 (Reuters) - United Spirits Ltd UNSP.NS:
Q3 PROFIT 5.29 BILLION RUPEES
Q3 REVENUE FROM OPERATIONS 79.28 BILLION RUPEES
DIVIDEND OF 6 RUPEES PER SHARE
Source text: ID:nnAZN4S1IQQ
Further company coverage: UNSP.NS
(([email protected];;))
Jan 20 (Reuters) - United Spirits Ltd UNSP.NS:
Q3 PROFIT 5.29 BILLION RUPEES
Q3 REVENUE FROM OPERATIONS 79.28 BILLION RUPEES
DIVIDEND OF 6 RUPEES PER SHARE
Source text: ID:nnAZN4S1IQQ
Further company coverage: UNSP.NS
(([email protected];;))
Foreign firms challenge liquor policy of India's Maharashtra in court
Liquor giants says policy of India's richest state exclusionary
So-called 'Maharashtra Made Liquor' category angers industry
Pernod, Diageo and other firms face many challenges in India
Their affordable brands now face 450% local tax in state
By Aditya Kalra
NEW DELHI, Nov 28 (Reuters) - Diageo and Pernod Ricard's Indian lobbying group has sued Maharashtra state over a sharp tax hike on their affordable brands and for excluding the companies from a new lower tax category reserved for some local firms.
Maharashtra accounts for 7% of India's premium liquor consumption and is home to big Diageo and Pernod factories. The financial hub Mumbai there is a key market for companies aiming to target an affluent urban population.
Between June and August, the state introduced a new policy to boost local investments by creating a category called "Maharashtra Made Liquor", under which manufacturers headquartered in the state with zero foreign investment can offer liquor products with a 270% tax.
Taxes were raised to 450% from 300% on other premium brands in the affordable segment, which have a cost of production below 260 rupees ($3) a litre.
Affected brands include Diageo's McDowell's, which it says is India's largest selling whisky brand, Pernod's Royal Stag, Tilaknagar Industries' TILK.NS Imperial Blue and Allied Blenders and Distillers' ALLE.NS Officer's Choice.
The International Spirits and Wines Association of India has said the policy creates trade barriers, asking judges to quash it, or let companies with foreign investment participate in the lower-tax system, according to its November 14 filing, which is not public but was reviewed by Reuters.
Mumbai's High Court will hear the case on December 9.
FURORE OVER 'MAHARASHTRA MADE LIQUOR'
ISWAI's lawsuit says "the state has sought to grant an artificial competitive advantage to the preferred class".
The Maharashtra government did not respond to Reuters queries. It has publicly said the new policies will help in job creation, new investments, raise the operating capacity of existing factories and help garner $1.56 billion a year in additional revenues.
Diageo's DGE.L Indian unit, United Spirits UNSP.NS, said in a statement Maharashtra is a key market and it hopes to have a level playing field. ISWAI, Pernod PERP.PA, Tilaknagar and Allied Blenders ALLE.NS did not respond to Reuters queries.
The affordable segment affected by the tax hike contributes 70% of Maharashtra's premium spirit sales, said Anant S. Iyer, Director General of the Confederation of Indian Alcoholic Beverage Companies, whose members include Allied Blenders and Tilaknagar.
"Sales of impacted brands have fallen 35-40% in recent weeks since the hike in excise duty," he said.
India is the world's eighth-biggest alcohol market with annual revenues of $45 billion. Each state has its own regulations and pricing.
Global firms are also demanding $337 million in overdue payments from sales to a state-run depot in Telangana state, and face planned tougher advertising restrictions and several antitrust investigations.
(Reporting by Aditya Kalra
Editing by Peter Graff)
((Email: [email protected]; X: @adityakalra;))
Liquor giants says policy of India's richest state exclusionary
So-called 'Maharashtra Made Liquor' category angers industry
Pernod, Diageo and other firms face many challenges in India
Their affordable brands now face 450% local tax in state
By Aditya Kalra
NEW DELHI, Nov 28 (Reuters) - Diageo and Pernod Ricard's Indian lobbying group has sued Maharashtra state over a sharp tax hike on their affordable brands and for excluding the companies from a new lower tax category reserved for some local firms.
Maharashtra accounts for 7% of India's premium liquor consumption and is home to big Diageo and Pernod factories. The financial hub Mumbai there is a key market for companies aiming to target an affluent urban population.
Between June and August, the state introduced a new policy to boost local investments by creating a category called "Maharashtra Made Liquor", under which manufacturers headquartered in the state with zero foreign investment can offer liquor products with a 270% tax.
Taxes were raised to 450% from 300% on other premium brands in the affordable segment, which have a cost of production below 260 rupees ($3) a litre.
Affected brands include Diageo's McDowell's, which it says is India's largest selling whisky brand, Pernod's Royal Stag, Tilaknagar Industries' TILK.NS Imperial Blue and Allied Blenders and Distillers' ALLE.NS Officer's Choice.
The International Spirits and Wines Association of India has said the policy creates trade barriers, asking judges to quash it, or let companies with foreign investment participate in the lower-tax system, according to its November 14 filing, which is not public but was reviewed by Reuters.
Mumbai's High Court will hear the case on December 9.
FURORE OVER 'MAHARASHTRA MADE LIQUOR'
ISWAI's lawsuit says "the state has sought to grant an artificial competitive advantage to the preferred class".
The Maharashtra government did not respond to Reuters queries. It has publicly said the new policies will help in job creation, new investments, raise the operating capacity of existing factories and help garner $1.56 billion a year in additional revenues.
Diageo's DGE.L Indian unit, United Spirits UNSP.NS, said in a statement Maharashtra is a key market and it hopes to have a level playing field. ISWAI, Pernod PERP.PA, Tilaknagar and Allied Blenders ALLE.NS did not respond to Reuters queries.
The affordable segment affected by the tax hike contributes 70% of Maharashtra's premium spirit sales, said Anant S. Iyer, Director General of the Confederation of Indian Alcoholic Beverage Companies, whose members include Allied Blenders and Tilaknagar.
"Sales of impacted brands have fallen 35-40% in recent weeks since the hike in excise duty," he said.
India is the world's eighth-biggest alcohol market with annual revenues of $45 billion. Each state has its own regulations and pricing.
Global firms are also demanding $337 million in overdue payments from sales to a state-run depot in Telangana state, and face planned tougher advertising restrictions and several antitrust investigations.
(Reporting by Aditya Kalra
Editing by Peter Graff)
((Email: [email protected]; X: @adityakalra;))
United Spirits Ltd - High Court Sets Aside Water Charge Demands Of 4.43 Billion Rupees
Oct 1 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS LTD - HIGH COURT SETS ASIDE WATER CHARGE DEMANDS OF 4.43 BILLION RUPEES
UNITED SPIRITS - COURT DIRECTED WRD TO AFRESH ASCERTAIN BIFURCATION OF WATER CHARGES
Source text: ID:nBSE560hWp
Further company coverage: UNSP.NS
Oct 1 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS LTD - HIGH COURT SETS ASIDE WATER CHARGE DEMANDS OF 4.43 BILLION RUPEES
UNITED SPIRITS - COURT DIRECTED WRD TO AFRESH ASCERTAIN BIFURCATION OF WATER CHARGES
Source text: ID:nBSE560hWp
Further company coverage: UNSP.NS
United Spirits Ltd - Declines To Comment On RCB Stake Sale Speculation
Sept 30 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS LTD - DECLINES TO COMMENT ON RCB STAKE SALE SPECULATION
Source text: ID:nBSE4GcnJx
Further company coverage: UNSP.NS
Sept 30 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS LTD - DECLINES TO COMMENT ON RCB STAKE SALE SPECULATION
Source text: ID:nBSE4GcnJx
Further company coverage: UNSP.NS
United Spirits Q1 Profit 2.58 Billion Rupees
Aug 13 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS Q1 PROFIT 2.58 BILLION RUPEES
UNITED SPIRITS Q1 REVENUE FROM OPERATIONS 58.23 BILLION RUPEES
Source text: ID:nBSE3PMm6n
Further company coverage: UNSP.NS
(([email protected];))
Aug 13 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS Q1 PROFIT 2.58 BILLION RUPEES
UNITED SPIRITS Q1 REVENUE FROM OPERATIONS 58.23 BILLION RUPEES
Source text: ID:nBSE3PMm6n
Further company coverage: UNSP.NS
(([email protected];))
Big Scotch tariff cut to bring little cheer for Indians after UK trade deal
Indian state's heavy taxes make up bulk of spirits prices
Industry experts expect 10% price reduction for imported whisky
Indian-made single malt winning over younger drinkers
By Aditya Kalra and Dhwani Pandya
NEW DELHI MUMBAI, July 30 (Reuters) - At first glance, halving import tariffs on Scotch to 75% under the India-UK trade deal should bring the biggest cheer to India's whisky lovers. But there is little to celebrate once you look closely at India's complex tax regime.
In the world's most populous nation, each of the 28 states and eight federally-controlled territories regulate alcohol independently and impose heavy local taxes that contribute richly to the exchequer.
That means the price consumers pay for their drink in India includes state excise tax, handling charges, a social welfare fee, and distribution and retailer margins, and once they are taken into account the industry estimates final prices of imported Scotch will come down by less than 10%, four liquor industry executives said. Some fear states may even increase taxes, cancelling out the reduction from the trade deal.
One executive at a foreign company said the tariff cut "won't be a gamechanger." Another said the share of customs duty as a percentage of the total product price was less than 25% in most states. Both declined to be named as they were not authorised to speak to the media.
Naveen Malpani, consumer and retail industry leader at consultants Grant Thornton Bharat, said the import duty made up only about 10% to 20% of the retail price on average across India, with the rest from local levies and other costs.
"The deal is likely to enhance premiumisation and brand variety rather than trigger an immediate spike in demand," he said.
A breakdown provided on the website of the government of southern Kerala state shows the high taxation regime: a bottle of Pernod's Chivas Regal blended Scotch aged for 18 years costs 6,288 rupees ($72) with import tariffs, but local taxes and levies take the price to 13,560 rupees ($156).
Similarly, Johnnie Walker Blue Label costs 30,570 rupees ($352) in Kerala. In California, after discounts, that brand costs around $180, according to shopping website BevMo.com.
Despite the high taxes, Euromonitor estimates India's spirits market was worth $37 billion last year, lagging only China and the United States, and it remains an attractive market - Diageo DGE.L, which produces Johnnie Walker, and Pernod Ricard PERP.PA together had India revenues of almost $6 billion last year.
India is Scotch whisky's largest export market by volume, with the equivalent of more than 192 million bottles exported to the country in 2024, and the volume growing by more than 200% in the past decade, according to the Scotch Whisky Association.
But doing business in the whisky-loving country is challenging. As well as the layers of taxation, companies must contend with a web of regulation, which requires they seek approval for bottle labels and prices each year. In 2022, Pernod's then South Asia CEO told Reuters in an interview that India was "probably the most complex market" in the world for the industry.
Amid the complexity, local producers have also stepped up. Made-in-India single malts are offering stiff competition to the established international brands as Indians develop a taste for bespoke cocktails and more sophisticated drinks.
Young Indians "are all going for Indian single malts rather than Scotch," said Rajesh Chopra, director general of Indian Malt Whisky Association, adding lower tariffs could spur collaboration among Indian and UK whisky makers.
(Reporting by Aditya Kalra and Dhwani Pandya; additional reporting by Saurabh Sharma; Editing by Kate Mayberry)
(([email protected];))
Indian state's heavy taxes make up bulk of spirits prices
Industry experts expect 10% price reduction for imported whisky
Indian-made single malt winning over younger drinkers
By Aditya Kalra and Dhwani Pandya
NEW DELHI MUMBAI, July 30 (Reuters) - At first glance, halving import tariffs on Scotch to 75% under the India-UK trade deal should bring the biggest cheer to India's whisky lovers. But there is little to celebrate once you look closely at India's complex tax regime.
In the world's most populous nation, each of the 28 states and eight federally-controlled territories regulate alcohol independently and impose heavy local taxes that contribute richly to the exchequer.
That means the price consumers pay for their drink in India includes state excise tax, handling charges, a social welfare fee, and distribution and retailer margins, and once they are taken into account the industry estimates final prices of imported Scotch will come down by less than 10%, four liquor industry executives said. Some fear states may even increase taxes, cancelling out the reduction from the trade deal.
One executive at a foreign company said the tariff cut "won't be a gamechanger." Another said the share of customs duty as a percentage of the total product price was less than 25% in most states. Both declined to be named as they were not authorised to speak to the media.
Naveen Malpani, consumer and retail industry leader at consultants Grant Thornton Bharat, said the import duty made up only about 10% to 20% of the retail price on average across India, with the rest from local levies and other costs.
"The deal is likely to enhance premiumisation and brand variety rather than trigger an immediate spike in demand," he said.
A breakdown provided on the website of the government of southern Kerala state shows the high taxation regime: a bottle of Pernod's Chivas Regal blended Scotch aged for 18 years costs 6,288 rupees ($72) with import tariffs, but local taxes and levies take the price to 13,560 rupees ($156).
Similarly, Johnnie Walker Blue Label costs 30,570 rupees ($352) in Kerala. In California, after discounts, that brand costs around $180, according to shopping website BevMo.com.
Despite the high taxes, Euromonitor estimates India's spirits market was worth $37 billion last year, lagging only China and the United States, and it remains an attractive market - Diageo DGE.L, which produces Johnnie Walker, and Pernod Ricard PERP.PA together had India revenues of almost $6 billion last year.
India is Scotch whisky's largest export market by volume, with the equivalent of more than 192 million bottles exported to the country in 2024, and the volume growing by more than 200% in the past decade, according to the Scotch Whisky Association.
But doing business in the whisky-loving country is challenging. As well as the layers of taxation, companies must contend with a web of regulation, which requires they seek approval for bottle labels and prices each year. In 2022, Pernod's then South Asia CEO told Reuters in an interview that India was "probably the most complex market" in the world for the industry.
Amid the complexity, local producers have also stepped up. Made-in-India single malts are offering stiff competition to the established international brands as Indians develop a taste for bespoke cocktails and more sophisticated drinks.
Young Indians "are all going for Indian single malts rather than Scotch," said Rajesh Chopra, director general of Indian Malt Whisky Association, adding lower tariffs could spur collaboration among Indian and UK whisky makers.
(Reporting by Aditya Kalra and Dhwani Pandya; additional reporting by Saurabh Sharma; Editing by Kate Mayberry)
(([email protected];))
Pernod Ricard sells Imperial Blue whisky to India's Tilaknagar Industries
Sale part of Pernod's streamlining, focus on pricier brands
Deal marks Tilaknagar Industries' shift into whisky
Adds industry context in paragraphs 12-13
PARIS, July 23 (Reuters) - Pernod Ricard PERP.PA said on Wednesday it had agreed to sell its Imperial Blue whisky business to Indian liquor maker Tilaknagar Industries TILK.NS, as the French spirits group boosts its focus on premium labels in its portfolio.
The world's No. 2 Western spirits maker did not disclose the value of the deal, but said that on completion it was expected to be "immediately and meaningfully accretive" to Pernod Ricard India's operating margin and net sales growth rate.
The transaction is subject to approval from the competition commission of India, and is expected to close within the coming months, Pernod Ricard said in a statement.
The news comes as the French group looks to streamline its business and focus on its core portfolio of pricey, global brands amid a sector-wide downturn in sales.
Pernod Ricard Chairman and CEO Alexandre Ricard said the sale would "sharpen our focus on more profitable and faster growing brands in India, as in the rest of the world".
Jean Touboul, CEO of Pernod Ricard India, said it would notably allow Pernod Ricard to allocate resources more effectively towards high-growth brands in India such as Royal Stag and Blenders Pride, as well as international brands like Chivas, Jameson, Absolut, and Ballantine’s.
Pernod Ricard sees India, the group second-largest market, as key to future growth. Alcohol sales in India are projected to hit $61.35 billion in fiscal 2025–26, according to CRISIL.
Imperial Blue, a top-selling mass-market whisky, competes in India with the likes of United Spirits' McDowell's No.1.
Pernod Ricard views it as a local, value brand, and therefore not as central to its strategy as pricier, global labels like Chivas Regal.
For Tilaknagar Industries, a dominant player in India's brandy market with Mansion House, the deal marks a strategic shift into whisky, a faster-growing, higher-margin segment.
Tilaknagar Industries has been in turnaround mode, returning to profit after debt restructuring and widening distribution.
Earlier this month, Reuters reported that Inbrew Beverages and Tilaknagar Industries were each looking to raise around $500 million as they competed to buy Imperial Blue.
Global spirits makers have been scrambling to adjust their businesses to a sharp and sustained drop in sales in many markets after a boom in pricey liquor sales during the pandemic went into reverse amid high inflation and interest rates.
Companies like Pernod Ricard have also faced tariff threats in key markets like the United States and China, and worries about longer-term challenges such as some drinkers cutting back or health warnings from authorities.
(Reporting by Dominique Vidalon in Paris and Chandini Monnappa in Bengaluru. Editing by Benoit Van Overstraeten and Mark Potter)
(([email protected]; +33149495432; Reuters Messaging: [email protected]))
Sale part of Pernod's streamlining, focus on pricier brands
Deal marks Tilaknagar Industries' shift into whisky
Adds industry context in paragraphs 12-13
PARIS, July 23 (Reuters) - Pernod Ricard PERP.PA said on Wednesday it had agreed to sell its Imperial Blue whisky business to Indian liquor maker Tilaknagar Industries TILK.NS, as the French spirits group boosts its focus on premium labels in its portfolio.
The world's No. 2 Western spirits maker did not disclose the value of the deal, but said that on completion it was expected to be "immediately and meaningfully accretive" to Pernod Ricard India's operating margin and net sales growth rate.
The transaction is subject to approval from the competition commission of India, and is expected to close within the coming months, Pernod Ricard said in a statement.
The news comes as the French group looks to streamline its business and focus on its core portfolio of pricey, global brands amid a sector-wide downturn in sales.
Pernod Ricard Chairman and CEO Alexandre Ricard said the sale would "sharpen our focus on more profitable and faster growing brands in India, as in the rest of the world".
Jean Touboul, CEO of Pernod Ricard India, said it would notably allow Pernod Ricard to allocate resources more effectively towards high-growth brands in India such as Royal Stag and Blenders Pride, as well as international brands like Chivas, Jameson, Absolut, and Ballantine’s.
Pernod Ricard sees India, the group second-largest market, as key to future growth. Alcohol sales in India are projected to hit $61.35 billion in fiscal 2025–26, according to CRISIL.
Imperial Blue, a top-selling mass-market whisky, competes in India with the likes of United Spirits' McDowell's No.1.
Pernod Ricard views it as a local, value brand, and therefore not as central to its strategy as pricier, global labels like Chivas Regal.
For Tilaknagar Industries, a dominant player in India's brandy market with Mansion House, the deal marks a strategic shift into whisky, a faster-growing, higher-margin segment.
Tilaknagar Industries has been in turnaround mode, returning to profit after debt restructuring and widening distribution.
Earlier this month, Reuters reported that Inbrew Beverages and Tilaknagar Industries were each looking to raise around $500 million as they competed to buy Imperial Blue.
Global spirits makers have been scrambling to adjust their businesses to a sharp and sustained drop in sales in many markets after a boom in pricey liquor sales during the pandemic went into reverse amid high inflation and interest rates.
Companies like Pernod Ricard have also faced tariff threats in key markets like the United States and China, and worries about longer-term challenges such as some drinkers cutting back or health warnings from authorities.
(Reporting by Dominique Vidalon in Paris and Chandini Monnappa in Bengaluru. Editing by Benoit Van Overstraeten and Mark Potter)
(([email protected]; +33149495432; Reuters Messaging: [email protected]))
United Spirits Says Completion Of Investment Worth 560 Million Rupees In NAO Spirits
June 26 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS - COMPLETION OF INVESTMENT WORTH 560 MILLION RUPEES IN NAO SPIRITS
UNITED SPIRITS - TO FURTHER INVEST IN NAO 200 MILLION RUPEES
Source text: ID:nnAZN41RIXK
Further company coverage: UNSP.NS
(([email protected];))
June 26 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS - COMPLETION OF INVESTMENT WORTH 560 MILLION RUPEES IN NAO SPIRITS
UNITED SPIRITS - TO FURTHER INVEST IN NAO 200 MILLION RUPEES
Source text: ID:nnAZN41RIXK
Further company coverage: UNSP.NS
(([email protected];))
Diageo India buys maker of 'Greater Than','Hapusa' gins
June 19 (Reuters) - India's United Spirits UNSP.NS said on Thursday it is buying the maker of popular craft gins 'Greater Than' and 'Hapusa' in a deal valued at 1.3 billion rupees ($15.2 million), including debt, in a bid to boost its premium portfolio.
The Indian arm of spirits maker Diageo DGE.L added that the company, NAO Spirits, has been part of the portfolio of its investment arm, Ventures.
NAO was launched in 2017. Its brand 'Greater Than' was India's first craft gin, said United Spirits.
The deal comes at a time when rising disposable income among the upper middle class and richer Indians has led to higher demand for more expensive liquor, in tandem with more openness towards casual drinking and experimental offerings.
Local and authentic craft-oriented brands are well placed to cater to these trends, said United Spirits.
Hapusa, for example, can be priced at more than 3,000 rupees and according to United Spirits, is one of the few craft gins in the world made with foraged Himalayan juniper and other botanicals.
Demand for premium liquor helped boost United Spirits' standalone profit in the fourth quarter by 17% to 4.51 billion rupees ($52.72 million). Net sales value in the segment rose faster than overall sales growth.
(Reporting by Ananta Agarwal in Bengaluru)
(([email protected];))
June 19 (Reuters) - India's United Spirits UNSP.NS said on Thursday it is buying the maker of popular craft gins 'Greater Than' and 'Hapusa' in a deal valued at 1.3 billion rupees ($15.2 million), including debt, in a bid to boost its premium portfolio.
The Indian arm of spirits maker Diageo DGE.L added that the company, NAO Spirits, has been part of the portfolio of its investment arm, Ventures.
NAO was launched in 2017. Its brand 'Greater Than' was India's first craft gin, said United Spirits.
The deal comes at a time when rising disposable income among the upper middle class and richer Indians has led to higher demand for more expensive liquor, in tandem with more openness towards casual drinking and experimental offerings.
Local and authentic craft-oriented brands are well placed to cater to these trends, said United Spirits.
Hapusa, for example, can be priced at more than 3,000 rupees and according to United Spirits, is one of the few craft gins in the world made with foraged Himalayan juniper and other botanicals.
Demand for premium liquor helped boost United Spirits' standalone profit in the fourth quarter by 17% to 4.51 billion rupees ($52.72 million). Net sales value in the segment rose faster than overall sales growth.
(Reporting by Ananta Agarwal in Bengaluru)
(([email protected];))
Analysts flag hit to India's United Spirits from Maharashtra state duty hike
** Macquarie keeps "underperform" on India's United Spirits, UNSP.NS, citing volume risk from Maharashtra liquor duty hike
** Adds consumer prices could rise 15% or more, especially for economy-end liquor brands
** Macquarie sees duty rise of around 30 rupees to 45 rupees per bottle; premium brands may face steeper hikes
** Brokerage Goldman Sachs sees 20%–30% price hike from duty increase, warns of sharp volume drop in Maharashtra
** Adds customers may downtrade to lower priced brands within UNSP's portfolio, impacting realizations
** Shares of United Spirits UNSP.NS trading 0.9% lower at 1,489 rupees after shedding ~5% on Wednesday after the news
** Stock rated "buy" on average by analysts, median PT is 1,712.5 rupees - data compiled by LSEG
** UNSP shares down 7.5% so far in 2025
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** Macquarie keeps "underperform" on India's United Spirits, UNSP.NS, citing volume risk from Maharashtra liquor duty hike
** Adds consumer prices could rise 15% or more, especially for economy-end liquor brands
** Macquarie sees duty rise of around 30 rupees to 45 rupees per bottle; premium brands may face steeper hikes
** Brokerage Goldman Sachs sees 20%–30% price hike from duty increase, warns of sharp volume drop in Maharashtra
** Adds customers may downtrade to lower priced brands within UNSP's portfolio, impacting realizations
** Shares of United Spirits UNSP.NS trading 0.9% lower at 1,489 rupees after shedding ~5% on Wednesday after the news
** Stock rated "buy" on average by analysts, median PT is 1,712.5 rupees - data compiled by LSEG
** UNSP shares down 7.5% so far in 2025
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
United Spirits Says Diageo Clarifies Media Reports On RCB Stake Sale Are Speculative
June 10 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS LTD - DIAGEO CLARIFIES MEDIA REPORTS ON RCB STAKE SALE ARE SPECULATIVE
UNITED SPIRITS - COMPANY IS NOT PURSUING ANY SUCH DISCUSSIONS
Source text: ID:nBSE3L0dHZ
Further company coverage: UNSP.NS
(([email protected];))
June 10 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS LTD - DIAGEO CLARIFIES MEDIA REPORTS ON RCB STAKE SALE ARE SPECULATIVE
UNITED SPIRITS - COMPANY IS NOT PURSUING ANY SUCH DISCUSSIONS
Source text: ID:nBSE3L0dHZ
Further company coverage: UNSP.NS
(([email protected];))
United Spirits Exec Says Margins Likely To Be Range Bound In The Next Couple Of Years
May 23 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS EXEC: INDIA-UK FTA WILL ENHANCE COST ACCESSIBILITY IN WORLD'S LARGEST WHISKEY MARKET
UNITED SPIRITS EXEC: DUTY REDUCTION FROM 150% TO 75% COULD LEAD TO HIGH SINGLE DIGIT PRICE REDUCTION
UNITED SPIRITS EXEC: DUTY REDUCTION BENEFITS WILL START COMING AROUND FY27
UNITED SPIRITS EXEC: DUTY REDUCTION TO SPUR HIGH SINGLE DIGIT ADDITIONAL VOLUME GROWTH
UNITED SPIRITS EXEC: MARGINS LIKELY TO BE RANGE BOUND IN THE NEXT COUPLE OF YEARS
Source text: [ID:]
Further company coverage: UNSP.NS
(([email protected];))
May 23 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS EXEC: INDIA-UK FTA WILL ENHANCE COST ACCESSIBILITY IN WORLD'S LARGEST WHISKEY MARKET
UNITED SPIRITS EXEC: DUTY REDUCTION FROM 150% TO 75% COULD LEAD TO HIGH SINGLE DIGIT PRICE REDUCTION
UNITED SPIRITS EXEC: DUTY REDUCTION BENEFITS WILL START COMING AROUND FY27
UNITED SPIRITS EXEC: DUTY REDUCTION TO SPUR HIGH SINGLE DIGIT ADDITIONAL VOLUME GROWTH
UNITED SPIRITS EXEC: MARGINS LIKELY TO BE RANGE BOUND IN THE NEXT COUPLE OF YEARS
Source text: [ID:]
Further company coverage: UNSP.NS
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India's United Spirits posts profit rise on strong consumer demand for premium alcohol
BENGALURU, May 20 (Reuters) - India's United Spirits reported a rise in fourth-quarter profit on Tuesday, helped by strong demand for its premium alcohol brands and resumption of sales in the southern state of Andhra Pradesh in September after a five-year gap.
The Indian arm of spirits maker Diageo DGE.L reported a standalone profit of 4.51 billion rupees ($52.72 million) for the quarter ended March 31, up 17% from a year ago.
The company said the net sales value of premium category, which includes Johnnie Walker whiskey and Tanqueray gin, rose 13.2% year-on-year, while overall net sales growth was 10.5%.
For further results highlights, click (Full Story).
KEY CONTEXT
Analysts said that following a strong October to December period, demand for alcoholic beverages remained strong during the fourth quarter, led by the wedding season.
United Spirits has focused on more premium products in its portfolio in the past few quarters, which has shielded the company to an extent from India's inflation-led consumption slowdown.
Earlier this month, India's largest beer maker United Breweries UBBW.NS reported a rise in fourth quarter profit helped by lower costs, while its volume rose 5% driven by strong growth in the premium segment.
PEER COMPARISON
Valuation (next 12 months) | Estimates (next 12 months) | Analysts' sentiment | ||||||||
RIC | PE | EV/EBITDA | Price/Sales | Revenue growth | profit growth | Mean rating* | # of analysts | Stock to price target** | Div yield (%) | |
UNSP.NS | 61.71 | 42.84 | NULL | 12.34 | 19.61 | BUY | 12 | 0.99 | 0.42 | |
UBBW.NS | 64.40 | 42.78 | NULL | 13.65 | 52.55 | HOLD | 12 | 1.00 | 0.49 | |
RADC.NS | 68.58 | 41.26 | NULL | 10.29 | 40.06 | BUY | 6 | 0.96 | 0.16 | |
TILK.NS | 37.47 | 23.82 | NULL | 14.93 | -16.55 | STRONG BUY | 1 | 0.80 | 0.14 | |
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
JANUARY TO MARCH STOCK PERFORMANCE
--All data from LSEG
--$1 = 85.5490 Indian rupees
United Spirits https://tmsnrt.rs/45hRu7K
(Reporting by Nishit Navin; Editing by Leroy Leo)
(([email protected];))
BENGALURU, May 20 (Reuters) - India's United Spirits reported a rise in fourth-quarter profit on Tuesday, helped by strong demand for its premium alcohol brands and resumption of sales in the southern state of Andhra Pradesh in September after a five-year gap.
The Indian arm of spirits maker Diageo DGE.L reported a standalone profit of 4.51 billion rupees ($52.72 million) for the quarter ended March 31, up 17% from a year ago.
The company said the net sales value of premium category, which includes Johnnie Walker whiskey and Tanqueray gin, rose 13.2% year-on-year, while overall net sales growth was 10.5%.
For further results highlights, click (Full Story).
KEY CONTEXT
Analysts said that following a strong October to December period, demand for alcoholic beverages remained strong during the fourth quarter, led by the wedding season.
United Spirits has focused on more premium products in its portfolio in the past few quarters, which has shielded the company to an extent from India's inflation-led consumption slowdown.
Earlier this month, India's largest beer maker United Breweries UBBW.NS reported a rise in fourth quarter profit helped by lower costs, while its volume rose 5% driven by strong growth in the premium segment.
PEER COMPARISON
Valuation (next 12 months) | Estimates (next 12 months) | Analysts' sentiment | ||||||||
RIC | PE | EV/EBITDA | Price/Sales | Revenue growth | profit growth | Mean rating* | # of analysts | Stock to price target** | Div yield (%) | |
UNSP.NS | 61.71 | 42.84 | NULL | 12.34 | 19.61 | BUY | 12 | 0.99 | 0.42 | |
UBBW.NS | 64.40 | 42.78 | NULL | 13.65 | 52.55 | HOLD | 12 | 1.00 | 0.49 | |
RADC.NS | 68.58 | 41.26 | NULL | 10.29 | 40.06 | BUY | 6 | 0.96 | 0.16 | |
TILK.NS | 37.47 | 23.82 | NULL | 14.93 | -16.55 | STRONG BUY | 1 | 0.80 | 0.14 | |
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
JANUARY TO MARCH STOCK PERFORMANCE
--All data from LSEG
--$1 = 85.5490 Indian rupees
United Spirits https://tmsnrt.rs/45hRu7K
(Reporting by Nishit Navin; Editing by Leroy Leo)
(([email protected];))
India's United Spirits rises on declaring dividend
** Shares of United Spirits UNSP.NS rise 2.2% to 1391 rupees
** Liquor company declares dividend of 4 rupees ($0.047) per share
** Avg rating of 20 analysts covering the stock is "Buy", their median PT is 1634 rupees - LSEG data
** Stock is down 14.5% so far in 2025 vs a 6% drop in Nifty FMCG index .NIFTYFMCG
($1 = 85.7920 Indian rupees)
(Reporting by Nishit Navin)
(([email protected];))
** Shares of United Spirits UNSP.NS rise 2.2% to 1391 rupees
** Liquor company declares dividend of 4 rupees ($0.047) per share
** Avg rating of 20 analysts covering the stock is "Buy", their median PT is 1634 rupees - LSEG data
** Stock is down 14.5% so far in 2025 vs a 6% drop in Nifty FMCG index .NIFTYFMCG
($1 = 85.7920 Indian rupees)
(Reporting by Nishit Navin)
(([email protected];))
India's United Spirits rises after Citi upgrades to 'buy'
** Shares of liquor company United Spirits UNSP.NS climb 3.1% to 1,420.05 rupees
** Citi Research upgrades stock to "buy" rating from "hold"
** Retains 1,650 rupees target price, implying an upside of about 20%
** Says risk-reward has turned favourable for UNSP due to sharp fall in share price so far in 2025, scale-up in Andhra Pradesh, stable growth trends, policy tailwinds in Uttar Pradesh, premiumization shift
** UNSP is likely to see double-digit revenue growth over fiscal years 2024-2027 due to its positioning in organized liquor market, rising disposable incomes - Citi
** Stock down about 15% YTD, underperforming 7% fall in consumer index .NIFTYFMCG - exchange data
** The average rating of 20 analysts tracking UNSP is "buy"; median target price is at 1,634 rupees - data compiled by LSEG
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of liquor company United Spirits UNSP.NS climb 3.1% to 1,420.05 rupees
** Citi Research upgrades stock to "buy" rating from "hold"
** Retains 1,650 rupees target price, implying an upside of about 20%
** Says risk-reward has turned favourable for UNSP due to sharp fall in share price so far in 2025, scale-up in Andhra Pradesh, stable growth trends, policy tailwinds in Uttar Pradesh, premiumization shift
** UNSP is likely to see double-digit revenue growth over fiscal years 2024-2027 due to its positioning in organized liquor market, rising disposable incomes - Citi
** Stock down about 15% YTD, underperforming 7% fall in consumer index .NIFTYFMCG - exchange data
** The average rating of 20 analysts tracking UNSP is "buy"; median target price is at 1,634 rupees - data compiled by LSEG
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
United Spirits To Close Hyderabad Factory Operations
Feb 5 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS LTD - TO CLOSE HYDERABAD FACTORY OPERATIONS
UNITED SPIRITS LTD - UNIT CLOSURE PART OF SUPPLY CHAIN AGILITY PROGRAM APPROVED IN JAN 2023
UNITED SPIRITS LTD - ESTIMATED CLOSURE OF FACTORY OPERATIONS AT UNIT IS JULY 31, 2025
Source text: ID:nNSE4VNd6S
Further company coverage: UNSP.NS
(([email protected];))
Feb 5 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS LTD - TO CLOSE HYDERABAD FACTORY OPERATIONS
UNITED SPIRITS LTD - UNIT CLOSURE PART OF SUPPLY CHAIN AGILITY PROGRAM APPROVED IN JAN 2023
UNITED SPIRITS LTD - ESTIMATED CLOSURE OF FACTORY OPERATIONS AT UNIT IS JULY 31, 2025
Source text: ID:nNSE4VNd6S
Further company coverage: UNSP.NS
(([email protected];))
United Spirits Receives Tax Assessment Order For FY 2014-15
Feb 4 (Reuters) - United Spirits Ltd UNSP.NS:
RECEIVES TAX ASSESSMENT ORDER FOR FY 2014-15
REVISED ORDER INCREASES TAX DEMAND BY 1.47 BILLION RUPEES
Source text: ID:nNSE7SgdwW
Further company coverage: UNSP.NS
(([email protected];;))
Feb 4 (Reuters) - United Spirits Ltd UNSP.NS:
RECEIVES TAX ASSESSMENT ORDER FOR FY 2014-15
REVISED ORDER INCREASES TAX DEMAND BY 1.47 BILLION RUPEES
Source text: ID:nNSE7SgdwW
Further company coverage: UNSP.NS
(([email protected];;))
United Spirits Q3 Profit 4.73 Billion Rupees
Jan 23 (Reuters) - United Spirits Ltd UNSP.NS:
Q3 PROFIT 4.73 BILLION RUPEES; IBES EST. 4.05 BILLION RUPEES
Q3 REVENUE FROM OPERATIONS 77.31 BILLION RUPEES
Further company coverage: UNSP.NS
(([email protected];))
Jan 23 (Reuters) - United Spirits Ltd UNSP.NS:
Q3 PROFIT 4.73 BILLION RUPEES; IBES EST. 4.05 BILLION RUPEES
Q3 REVENUE FROM OPERATIONS 77.31 BILLION RUPEES
Further company coverage: UNSP.NS
(([email protected];))
India's United Spirits falls post CEO change; Macquarie keeps 'underperform'
** United Spirits UNSP.NS, British alcohol maker Diageo's Indian arm, falls 4.77% to 1,412.90 rupees; set for biggest one-day pct drop in 14 months
** Hina Nagarajan resigns as CEO to take another role in Diageo; HT Media HTML.NS boss Praveen Someshwar to replace Nagarajan
** Macquarie maintains "underperform" post CEO change; says smooth transition key to ensure no hurdles in "growth journey"
** UNSP climbed ~160% since April 2021, when Nagarajan took the top job, with premium-end alcohol growth booming in her tenure
** Stock extends 12-month loss to ~13%
(Reporting by Ananta Agarwal in Bengaluru)
** United Spirits UNSP.NS, British alcohol maker Diageo's Indian arm, falls 4.77% to 1,412.90 rupees; set for biggest one-day pct drop in 14 months
** Hina Nagarajan resigns as CEO to take another role in Diageo; HT Media HTML.NS boss Praveen Someshwar to replace Nagarajan
** Macquarie maintains "underperform" post CEO change; says smooth transition key to ensure no hurdles in "growth journey"
** UNSP climbed ~160% since April 2021, when Nagarajan took the top job, with premium-end alcohol growth booming in her tenure
** Stock extends 12-month loss to ~13%
(Reporting by Ananta Agarwal in Bengaluru)
United Spirits names HT Media boss Praveen Someshwar as new CEO
Updates throughout, adds context on timing of transition
Jan 13 (Reuters) - United Spirits UNSP.NS, the Indian arm of liquor company Diageo DGE.L, said on Monday that HT Media boss Praveen Someshwar would join the company as managing director and CEO, effective April 1.
Someshwar will replace Hina Nagarajan, who after four years at the helm, is set to transition into a role on Diageo's global executive committee, the company said.
Someshwar has been CEO of HT Media HTML.NS, the owner of the Hindustan Times national daily, for five years. Prior to that, he worked with PepsiCo PEP.O for 24 years, where he held a number of senior roles in various divisions.
The leadership change at United Spirits comes at a time when Diageo and its Indian unit, have faced scrutiny from federal and local investigative agencies due to allegations of suspicious payments, and other irregularities, that pre-dated Nagarajan's tenure at the helm of the company.
United Spirits said Someshwar will join the company on March 1, and formally takeover from Nagarajan a month later following the receipt of necessary regulatory approvals.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Eileen Soreng and Anil D'Silva)
(([email protected];))
Updates throughout, adds context on timing of transition
Jan 13 (Reuters) - United Spirits UNSP.NS, the Indian arm of liquor company Diageo DGE.L, said on Monday that HT Media boss Praveen Someshwar would join the company as managing director and CEO, effective April 1.
Someshwar will replace Hina Nagarajan, who after four years at the helm, is set to transition into a role on Diageo's global executive committee, the company said.
Someshwar has been CEO of HT Media HTML.NS, the owner of the Hindustan Times national daily, for five years. Prior to that, he worked with PepsiCo PEP.O for 24 years, where he held a number of senior roles in various divisions.
The leadership change at United Spirits comes at a time when Diageo and its Indian unit, have faced scrutiny from federal and local investigative agencies due to allegations of suspicious payments, and other irregularities, that pre-dated Nagarajan's tenure at the helm of the company.
United Spirits said Someshwar will join the company on March 1, and formally takeover from Nagarajan a month later following the receipt of necessary regulatory approvals.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Eileen Soreng and Anil D'Silva)
(([email protected];))
India names Diageo, Sequoia Capital in case alleging suspicious payments
Diageo, Sequoia Capital face influence-peddling investigation
Diageo made payment to lift ban on duty-free items -agency
Sequoia made payments for investment approval -agency
By Arpan Chaturvedi
NEW DELHI, Jan 10 (Reuters) - India's federal investigating agency has accused liquor giant Diageo DGE.L and Sequoia Capital of making suspicious payments to a politician's firm to seek favourable government decisions, it said in a document Reuters reviewed on Friday.
In the document, the Central Bureau of Investigation (CBI) says Diageo Scotland made a suspicious fund transfer to Indian politician Karti Chidambaram's firm after a 2005 ban on sale of its duty-free products hit sales of its Johnnie Walker whisky.
In the case document on its website, the agency said an investigation showed a payment of $15,000 to the firm was intended to influence public servants to lift the ban on Diageo, rather than for consultancy work as it had been described.
"In order to lift the ban, Diageo Scotland approached Karti P Chidambaram," the agency said in the document, part of its formal case registered against Diageo and Sequoia, after an investigation launched in 2018 into investment approvals.
It did not say when the alleged payment by Diageo was made.
The agency said Diageo suffered a huge loss from the 2005 embargo on its products by the India Tourism Development Corp, a firm majority-owned by the government that had a monopoly on sales of imported duty-free liquor.
Telephone calls to seek comment from Karti Chidambaram, the son of former finance minister P Chidambaram, went unanswered. A member of India's main opposition Congress party, he is a lower house MP.
A spokesperson for Diageo's India unit, United Spirits, in which the British giant owns a stake of about 56%, declined to comment. Diageo's British unit did not immediately respond to a request for a comment on the development.
The case presents a new challenge for Diageo after anti-graft police launched an investigation last year into billing and discount practices in the capital, New Delhi.
The company has said it is cooperating with that agency.
Separately, the CBI case document accused the Mauritius unit of Sequoia Capital of suspicious transactions with the firm of Karti Chidambaram, who was in a position to influence public servants to secure approval for an Indian investment in 2008.
Sequoia's proposal, the CBI said, was approved in November by Karti's father, P Chidambaram, who was finance minister at the time. In response to a text message from Reuters, P Chidambaram, also a Congress politician, said he had no comment.
The CBI case document does not name the former finance minister as one of those accused in the case.
Sequoia did not immediately respond to a Reuters request for comment on the accusations.
A detailed investigation will look for any violations of India's criminal law, including its anti-graft law that sets penalties for bribes to public servants, the CBI added in the document.
Punishments can be jail terms of up to seven years, and unspecified fines.
(Reporting by Arpan Chaturvedi; Editing by Aditya Kalra and Clarence Fernandez)
(([email protected];))
Diageo, Sequoia Capital face influence-peddling investigation
Diageo made payment to lift ban on duty-free items -agency
Sequoia made payments for investment approval -agency
By Arpan Chaturvedi
NEW DELHI, Jan 10 (Reuters) - India's federal investigating agency has accused liquor giant Diageo DGE.L and Sequoia Capital of making suspicious payments to a politician's firm to seek favourable government decisions, it said in a document Reuters reviewed on Friday.
In the document, the Central Bureau of Investigation (CBI) says Diageo Scotland made a suspicious fund transfer to Indian politician Karti Chidambaram's firm after a 2005 ban on sale of its duty-free products hit sales of its Johnnie Walker whisky.
In the case document on its website, the agency said an investigation showed a payment of $15,000 to the firm was intended to influence public servants to lift the ban on Diageo, rather than for consultancy work as it had been described.
"In order to lift the ban, Diageo Scotland approached Karti P Chidambaram," the agency said in the document, part of its formal case registered against Diageo and Sequoia, after an investigation launched in 2018 into investment approvals.
It did not say when the alleged payment by Diageo was made.
The agency said Diageo suffered a huge loss from the 2005 embargo on its products by the India Tourism Development Corp, a firm majority-owned by the government that had a monopoly on sales of imported duty-free liquor.
Telephone calls to seek comment from Karti Chidambaram, the son of former finance minister P Chidambaram, went unanswered. A member of India's main opposition Congress party, he is a lower house MP.
A spokesperson for Diageo's India unit, United Spirits, in which the British giant owns a stake of about 56%, declined to comment. Diageo's British unit did not immediately respond to a request for a comment on the development.
The case presents a new challenge for Diageo after anti-graft police launched an investigation last year into billing and discount practices in the capital, New Delhi.
The company has said it is cooperating with that agency.
Separately, the CBI case document accused the Mauritius unit of Sequoia Capital of suspicious transactions with the firm of Karti Chidambaram, who was in a position to influence public servants to secure approval for an Indian investment in 2008.
Sequoia's proposal, the CBI said, was approved in November by Karti's father, P Chidambaram, who was finance minister at the time. In response to a text message from Reuters, P Chidambaram, also a Congress politician, said he had no comment.
The CBI case document does not name the former finance minister as one of those accused in the case.
Sequoia did not immediately respond to a Reuters request for comment on the accusations.
A detailed investigation will look for any violations of India's criminal law, including its anti-graft law that sets penalties for bribes to public servants, the CBI added in the document.
Punishments can be jail terms of up to seven years, and unspecified fines.
(Reporting by Arpan Chaturvedi; Editing by Aditya Kalra and Clarence Fernandez)
(([email protected];))
United Spirits Says Got Total Demand Tax Order For 11.3 Million Rupees
Jan 8 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS - GOT TOTAL DEMAND TAX ORDER FOR 11.3 MILLION RUPEES
Source text: ID:nBSE1m1M30
Further company coverage: UNSP.NS
(([email protected];))
Jan 8 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS - GOT TOTAL DEMAND TAX ORDER FOR 11.3 MILLION RUPEES
Source text: ID:nBSE1m1M30
Further company coverage: UNSP.NS
(([email protected];))
United Spirits Says Tax Order For Penalty At 319.2 Million Rupees Is Deleted
Nov 14 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS - TAX ORDER FOR PENALTY AT 319.2 MILLION RUPEES IS DELETED
Source text: ID:nNSE4Wwn4J
Further company coverage: UNSP.NS
(([email protected];))
Nov 14 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS - TAX ORDER FOR PENALTY AT 319.2 MILLION RUPEES IS DELETED
Source text: ID:nNSE4Wwn4J
Further company coverage: UNSP.NS
(([email protected];))
United Spirits Q2 Profit 3.35 Bln Rupees
Oct 23 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS Q2 PROFIT 3.35 BILLION RUPEES; IBES EST. 3.39 BILLION RUPEES
UNITED SPIRITS Q2 REVENUE FROM OPERATIONS 66.71 BILLION RUPEES
Source text for Eikon: ID:nnAZN2HQK6L
Further company coverage: UNSP.NS
(([email protected];))
Oct 23 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS Q2 PROFIT 3.35 BILLION RUPEES; IBES EST. 3.39 BILLION RUPEES
UNITED SPIRITS Q2 REVENUE FROM OPERATIONS 66.71 BILLION RUPEES
Source text for Eikon: ID:nnAZN2HQK6L
Further company coverage: UNSP.NS
(([email protected];))
United Spirits Says Got Order Demanding Differential Duty 6% On Import Of Corrugated Boxes
Oct 1 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS - GOT ORDER DEMANDING DIFFERENTIAL DUTY 6% ON IMPORT OF CORRUGATED BOXES
Further company coverage: UNSP.NS
(([email protected];))
Oct 1 (Reuters) - United Spirits Ltd UNSP.NS:
UNITED SPIRITS - GOT ORDER DEMANDING DIFFERENTIAL DUTY 6% ON IMPORT OF CORRUGATED BOXES
Further company coverage: UNSP.NS
(([email protected];))
Diageo submits financial documents in Delhi police investigation, source says
By Aditya Kalra
NEW DELHI, Aug 18 (Reuters) - Spirits group Diageo's DGE.L Indian unit has submitted financial documents sought by New Delhi anti-corruption police in an investigation related to billing and discount practices involving city agencies, a source familiar with the matter said.
Hina Nagarajan, the CEO of Diageo's Indian unit, United Spirits UNSP.NS, was summoned to appear before New Delhi police on July 26 in the case that relates to company's supply of liquor to government agencies running alcohol shops and payments received from the city between 2017 and 2020.
Nagarajan, who is also a member of Diageo's global executive committee, was asked to appear in person or through company representatives and to provide several documents related to company sales.
Nagarajan did not appear before police but after the July notice, Diageo through company representatives submitted many documents that were sought from the three-year period, said the source, who declined to be named due to a lack of authority to speak to media.
The documents submitted included certain bank statements, records of financial dealings with the Delhi city agencies to which liquor was supplied and some agreements signed with them, the source added.
Diageo India and Delhi anti-corruption police did not respond to repeated requests for comments from Reuters.
The company has previously called the Delhi case a "routine information and fact-finding exercise" and said it was cooperating with the authorities. The company added it believed police notices may have been sent to other manufacturers.
The Delhi investigation concerns how companies like Diageo India supplied liquor to government-run shops, and how those agencies sometimes offered early payments to suppliers that offered discounts, Reuters reported last month.
Police are investigating whether there was any wrongdoing in this process and if discounts given by companies were in line with liquor laws. Police had called the Diageo India CEO as a witness in the matter.
New Delhi city rules mandate all liquor retail shops to be run only by government agencies.
The Indian capital is a major market for premium liquor brands, more so for Diageo as its main rival, France's Pernod Ricard PERP.PA, has been unable to retail its products since late 2022 due to allegations of wrongdoing it faces in another investigation.
Euromonitor estimates Diageo, the world's biggest spirits maker which sells Johnnie Walker scotch whisky and Smirnoff vodka, is also India's largest with a 19% market share by volume in the $35 billion market.
(Reporting by Aditya Kalra; Editing by Jamie Freed)
(([email protected]; @adityakalra;))
By Aditya Kalra
NEW DELHI, Aug 18 (Reuters) - Spirits group Diageo's DGE.L Indian unit has submitted financial documents sought by New Delhi anti-corruption police in an investigation related to billing and discount practices involving city agencies, a source familiar with the matter said.
Hina Nagarajan, the CEO of Diageo's Indian unit, United Spirits UNSP.NS, was summoned to appear before New Delhi police on July 26 in the case that relates to company's supply of liquor to government agencies running alcohol shops and payments received from the city between 2017 and 2020.
Nagarajan, who is also a member of Diageo's global executive committee, was asked to appear in person or through company representatives and to provide several documents related to company sales.
Nagarajan did not appear before police but after the July notice, Diageo through company representatives submitted many documents that were sought from the three-year period, said the source, who declined to be named due to a lack of authority to speak to media.
The documents submitted included certain bank statements, records of financial dealings with the Delhi city agencies to which liquor was supplied and some agreements signed with them, the source added.
Diageo India and Delhi anti-corruption police did not respond to repeated requests for comments from Reuters.
The company has previously called the Delhi case a "routine information and fact-finding exercise" and said it was cooperating with the authorities. The company added it believed police notices may have been sent to other manufacturers.
The Delhi investigation concerns how companies like Diageo India supplied liquor to government-run shops, and how those agencies sometimes offered early payments to suppliers that offered discounts, Reuters reported last month.
Police are investigating whether there was any wrongdoing in this process and if discounts given by companies were in line with liquor laws. Police had called the Diageo India CEO as a witness in the matter.
New Delhi city rules mandate all liquor retail shops to be run only by government agencies.
The Indian capital is a major market for premium liquor brands, more so for Diageo as its main rival, France's Pernod Ricard PERP.PA, has been unable to retail its products since late 2022 due to allegations of wrongdoing it faces in another investigation.
Euromonitor estimates Diageo, the world's biggest spirits maker which sells Johnnie Walker scotch whisky and Smirnoff vodka, is also India's largest with a 19% market share by volume in the $35 billion market.
(Reporting by Aditya Kalra; Editing by Jamie Freed)
(([email protected]; @adityakalra;))
United Spirits- Co's Tax Demand Reduced To 397.8 Million Rupees
United Spirits Ltd UNSP.NS:
UNITED SPIRITS- CO'S TAX DEMAND REDUCED TO 397.8 MILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: UNSP.NS
United Spirits Ltd UNSP.NS:
UNITED SPIRITS- CO'S TAX DEMAND REDUCED TO 397.8 MILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: UNSP.NS
United Spirits falls after report CEO called by anti-corruption police
** Shares of Indian alcohol maker United Spirits UNSP.NS drop as much as 1.3% to 1,425 rupees, set to snap four sessions of gains
** Stock among top pct losers on FMCG index .NIFTYFMCG which is flat
** Reuters reported on Thursday that CEO Hina Nagarajan has been summoned by New Delhi anti-corruption police in liquor payments case
** Co in process of "providing the information sought" and "sending in an authorised representative," a spokesperson said
** Benchmark Nifty 50 .NSEI up 0.7% .BO
** Day's fall trims UNSP's YTD gains to ~28%; FMCG index is up 9.2% and Nifty 50 is up 13.2%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of Indian alcohol maker United Spirits UNSP.NS drop as much as 1.3% to 1,425 rupees, set to snap four sessions of gains
** Stock among top pct losers on FMCG index .NIFTYFMCG which is flat
** Reuters reported on Thursday that CEO Hina Nagarajan has been summoned by New Delhi anti-corruption police in liquor payments case
** Co in process of "providing the information sought" and "sending in an authorised representative," a spokesperson said
** Benchmark Nifty 50 .NSEI up 0.7% .BO
** Day's fall trims UNSP's YTD gains to ~28%; FMCG index is up 9.2% and Nifty 50 is up 13.2%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
India's United Spirits continues post-earnings rally to record high
** Shares of United Spirits UNSP.NS rise as much as 4.2% to a record high of 1,442 rupees
** UNSP has gained over 8% since beating Q1 profit estimates on Tuesday
** Nuvama Institutional Equities upgrades stock to "buy" from "hold"; sets Street-high TP of 1,630 rupees
** See UNSP benefitting from huge headroom in new premium categories, including tequila and craft spirits, alongside upcoming wedding and festive season
** Also expects Andhra Pradesh state to cut taxes, benefiting large alcohol players like UNSP
** Trading vol 2x the 30-day avg but under half of Wed's vol
** Stock up 30% so far this year
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
** Shares of United Spirits UNSP.NS rise as much as 4.2% to a record high of 1,442 rupees
** UNSP has gained over 8% since beating Q1 profit estimates on Tuesday
** Nuvama Institutional Equities upgrades stock to "buy" from "hold"; sets Street-high TP of 1,630 rupees
** See UNSP benefitting from huge headroom in new premium categories, including tequila and craft spirits, alongside upcoming wedding and festive season
** Also expects Andhra Pradesh state to cut taxes, benefiting large alcohol players like UNSP
** Trading vol 2x the 30-day avg but under half of Wed's vol
** Stock up 30% so far this year
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
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What does United Spirits do?
United Spirits is engaged in the business of manufacture, purchase and sale of beverage alcohol and other allied spirits, including through tie-up manufacturing units and through strategic franchising of some of its brands. A subsidiary of global leader, Diageo, its world class portfolio includes premium brands such as Johnnie Walker, Black Dog, Black & White, Vat 69, Antiquity, Signature, Singleton, Royal Challenge, McDowell’s No 1, Smirnoff, Ketel One, Tanqueray and Captain Morgan.
Who are the competitors of United Spirits?
United Spirits major competitors are United Breweries, Radico Khaitan, Tilaknagar Inds, Globus Spirits, GM Breweries, Som DistilleriesBrew, Sula Vineyards. Market Cap of United Spirits is ₹96,047 Crs. While the median market cap of its peers are ₹2,712 Crs.
Is United Spirits financially stable compared to its competitors?
United Spirits seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does United Spirits pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. United Spirits latest dividend payout ratio is 54.99% and 3yr average dividend payout ratio is 50.67%
How has United Spirits allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments
How strong is United Spirits balance sheet?
Balance sheet of United Spirits is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of United Spirits improving?
Yes, profit is increasing. The profit of United Spirits is ₹1,728 Crs for TTM, ₹1,582 Crs for Mar 2025 and ₹1,408 Crs for Mar 2024.
Is the debt of United Spirits increasing or decreasing?
Yes, The net debt of United Spirits is increasing. Latest net debt of United Spirits is -₹1,381 Crs as of Sep-25. This is greater than Mar-25 when it was -₹4,060 Crs.
Is United Spirits stock expensive?
United Spirits is not expensive. Latest PE of United Spirits is 55.76, while 3 year average PE is 65.97. Also latest EV/EBITDA of United Spirits is 40.17 while 3yr average is 42.59.
Has the share price of United Spirits grown faster than its competition?
United Spirits has given lower returns compared to its competitors. United Spirits has grown at ~17.06% over the last 3yrs while peers have grown at a median rate of 24.8%
Is the promoter bullish about United Spirits?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in United Spirits is 56.67% and last quarter promoter holding is 56.67%.
Are mutual funds buying/selling United Spirits?
The mutual fund holding of United Spirits is increasing. The current mutual fund holding in United Spirits is 12.72% while previous quarter holding is 12.5%.