UNITED SPIRITS LTD. - 532432 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper publication- Audited financial results for the quarter and financial year ended 31st March 202228-05-2022
28-05-2022
UNITED SPIRITS LTD. - 532432 - Announcement U/R 30 - Outcome On Strategic Review Of Selected Popular Brands
Pursuant to the announcements dated February 23, 2021, December 27, 2021 and March 29, 2022, concerning the strategic review of selected Popular brands, we would like to inform that the board of directors of United Spirits Limited (the 'Company') at its meeting held today, inter alia, approved: (i) the transfer to Inbrew Beverages Private Limited ('Inbrew') of the entire business undertaking associated with 32 brands in the 'Popular' segment (including the related contracts, permits, intellectual property rights, associated employees, and a manufacturing facility) (collectively, the 'Business Undertaking') by way of a slump sale; and (ii) the grant of a franchise of 11 other brands in the 'Popular' segment in favour of Inbrew for a period of five years, with an option for Inbrew, subject to certain conditions, (a) to convert the fixed term franchise arrangement into a franchise arrangement with perpetual rights to use; and / or (b) to acquire such brands.27-05-2022
United Spirits Q4 profit down 12% at Rs 179 crore amid rising inflation
The company had posted a net profit of Rs 203.3 crore in the year-ago period, according to a regulatory filing27-05-2022
UNITED SPIRITS LTD. - 532432 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
We submit herewith information received in respect to the loss of Equity Share Certificates from the shareholder(s) under Regulation 39(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.27-05-2022
UNITED SPIRITS LTD. - 532432 - Announcements Regulation 30 - Financial Results
In continuation of our letter dated 17th May 2022, we wish to inform you that the Board of Directors of the Company, at its meeting held today, has inter alia : i) Approved the Audited Financial results (Standalone and Consolidated) for the quarter and year ended 31st March 2022. The said results in the prescribed format along with Independent Auditors' Report are enclosed herewith. A copy of the press release is also enclosed for your reference. ii) The Independent Auditors have issued an unmodified opinion, as referred in para 2 of Auditor's Report (AR) on the standalone financial results and para 2 of AR on consolidated financial results.27-05-2022
Q4FY22 Quarterly Result Announced for United Spirits Ltd.
Breweries and Distilleries company United Spirits announced Q4FY22 results: Q4FY22: Net sales increased 9.5% lapping a strong prior year comparator driven by resilient consumer demand in off trade and gradual on trade recovery. Prestige & Above net sales grew 15.3% benefitting from premiumisation, on-going portfolio renovation and accelerated momentum in states with route to market unlock. Popular net sales grew 1.1% while Priority states were broadly flat. Gross margin was 41.7%, down 220bps; impacted by rising inflation partly offset by favourable product mix and productivity savings. EBITDA was Rs. 427 Crores, up 3.6%. EBITDA margin was 17.5%, down 99 bps, driven by the gross margin decline partially offset by leverage on operating costs. Marketing reinvestment rate during the quarter was 5.4% of net sales. Interest cost of Rs. 13 Crores is a non-debt related expense Exceptional items include (a) impairment of an inter-company loan provided to Pioneer Distilleries Ltd., together with interest, (b) impairment of fixed assets in certain operationally closed manufacturing units, (c) accelerated charge pertaining to unamortized brand/ license fee Profit after tax was Rs. 136 Crores and PAT margin was 5.6%. FY22: Reported net sales increased 18.9%. Growth was underpinned by strong consumer demand in the off trade, premiumisation, recovery in on-trade and lapping soft comparators. Underlying net sales increased 18.4%, excluding the one-off sale of bulk scotch. Prestige & Above net sales increased 23.6%, primarily benefiting from favourable product mix. Popular net sales increased 8.2%, while the priority states increased 7.1%. Gross margin was 43.6%, up 25bps, primarily driven by favourable product mix, productivity savings from everyday cost efficiencies and lapping a one-off inventory provision. Marketing investment at 7.3% of reported net sales. It was up 25.7% to support brand building activities while lapping a prior year reduction due to COVID-19. Reported EBITDA was Rs. 1,511 Crores, up 53%. Reported EBITDA margin was 16.1%, up 358 bps primarily driven by fixed cost operating leverage and lapping one-off costs in the prior year. Excluding the one-off items, underlying EBITDA was up 276 bps. Reported interest cost was Rs.65 Crores, down 60.9% driven by debt repayment, interest rate reduction and a non-debt related charge. Exceptional items include (a) impairment of an inter-company loan provided to Pioneer Distilleries Ltd., together with interest, (b) impairment of fixed assets in certain operationally closed manufacturing units, (c) accelerated charge pertaining to unamortized brand/ license fee, (d) a one-off provision towards an additional demand in relation to a historical customer dispute. Tax includes a one-off reversal of 19.2 Crores. Profit after tax was Rs. 770 Crores, up 148.1% and PAT margin was 8.2%. Ms Hina Nagarajan,CEO, commenting on the results said: "We have delivered another quarter of consistent top-line and resilient EBITDA performance. The broad-based growth in the Prestige & Above segment demonstrates resilient consumer demand, the strength of our portfolio and focused execution of the strategy by the team. Strong cash flow generation is enabling re-investment in sustainable long-term growth. In line with our strategy of continued portfolio premiumisation, innovation and commitment to sustainability, we launched ‘Godawan’,an artisanal single malt whisky. Godawan, translates to the Great Indian Bustard, now nearing extinction and we are aiding in the conservation of the species and restoring natural water resources in Rajasthan. We also acquired a strategic minority stake in Nao Spirits & Beverages Private Limited, an emerging craft gin company in India, with award-winning brands ’Greater Than’ and ’Hapusa’. The investment provides us with an opportunity to strengthen participation in the fast-growing premium gin segment in India. We have just concluded the strategic review of the select Popular brands and the Board has approved the sale and franchising of this portfolio to an unrelated third party. This is a significant move to enable sharpened focus on ‘Prestige & Above’ and reshape our portfolio to help deliver our growth mission. Looking ahead, while we see macroeconomic uncertainty persisting in the near term driven by inflationary headwinds and geopolitical factors, we remain confident in the medium to long-term prospects of our industry. We remain focused on driving productivity and increasing the intensity of our engagement with states on price increases while remaining disciplined in the execution of our strategic priorities, to drive sustainable profitable growth and value for all our stakeholders.” Result PDF27-05-2022
UNITED SPIRITS LTD. - 532432 - Board Meeting Outcome for Results - Outcome Of The Board Meeting
In continuation of our letter dated 17th May 2022, we wish to inform you that the Board of Directors of the Company, at its meeting held today, has inter alia : i) Approved the Audited Financial results (Standalone and Consolidated) for the quarter and year ended 31st March 2022. The said results in the prescribed format along with Independent Auditors' Report are enclosed herewith. A copy of the press release is also enclosed for your reference. ii) The Independent Auditors have issued an unmodified opinion, as referred in para 2 of Auditor's Report (AR) on the standalone financial results and para 2 of AR on consolidated financial results.27-05-2022
UNITED SPIRITS LTD. - 532432 - Results - Financial Results For Year Ended 31St March 2022
In continuation of our letter dated 17th May 2022, we wish to inform you that the Board of Directors of the Company, at its meeting held today, has inter alia : i) Approved the Audited Financial results (Standalone and Consolidated) for the quarter and year ended 31st March 2022. The said results in the prescribed format along with Independent Auditors' Report are enclosed herewith. A copy of the press release is also enclosed for your reference. ii) The Independent Auditors have issued an unmodified opinion, as referred in para 2 of Auditor's Report (AR) on the standalone financial results and para 2 of AR on consolidated financial results.27-05-2022