Company Overview

United Spirits Limited (USL), India's leading alcoholic beverages company, reported strong financial performance for FY 2025-26 with significant strategic developments including major divestment and acquisition activities.

Financial Performance Highlights

  • Net Sales Value: ₹12,448 Crores (7.6% growth year-on-year)
  • EBITDA: ₹2,296 Crores (11.6% growth)
  • PAT: ₹1,830 Crores (17.5% growth from ₹1,558 Cr in FY25)
  • Dividend: Total ₹17 per share (Interim ₹6 + Proposed Final ₹11)
  • ROCE: 28.4%
  • Prestige & Above segment contribution: 89.6% of NSV

Strategic Corporate Actions

Royal Challengers Sports Private Limited Sale

Board approved sale of 100% stake in subsidiary Royal Challengers Sports Private Limited for aggregate consideration of ₹16,663 crores. The transaction, executed through Amended and Restated Share Purchase Agreement dated May 11, 2026, requires approvals from Competition Commission of India and Board of Control for Cricket in India. Investment in RCSPL (₹42 crores) classified as "Assets held for sale" under Ind AS 105.

Nao Spirits & Beverages Acquisition

Completed acquisition of 97.07% stake in Nao Spirits & Beverages Private Limited for ₹105 crores, bringing craft brands Greater Than, Hapusa, and PIPA into portfolio. Purchase price allocation recognized ₹70 crores intangible assets (brands) and ₹54 crores goodwill. Company also increased stake in V9 Beverages to 25% from 15%.

27th Annual General Meeting

Scheduled for August 4, 2026 through video conferencing, with agenda items including:

  • Adoption of standalone and consolidated financial statements
  • Declaration of final dividend of ₹11 per equity share
  • Re-appointment of Mr. Pradeep Jain as Executive Director
  • Appointment of M/s. Walker Chandiok & Co. LLP as Statutory Auditors
  • Appointment of Mr. Vinod Rao as Independent Director and Mr. Daniel Mobley as Non-Executive Director

Corporate Governance & Leadership

Maintained strong governance practices with 100% attendance at most board committees. Key remuneration details:

  • CEO Mr. Praveen Someshwar: ₹18.33 crore total remuneration
  • CFO Mr. Pradeep Jain: ₹4.82 crore total remuneration

Independent director sitting fees revised to ₹1 Lakh per Board and Committee meeting. Several senior management changes occurred during FY26 including appointment of Ms. Pragya Kaul as Company Secretary.

ESG Performance ('Spirit of Progress' Framework)

  • Energy: 99% renewable energy consumption in direct operations
  • Emissions: 93% reduction in absolute GHG emissions (Scope 1 & 2) from FY 2020 baseline
  • Water: 56% improvement in water used per litre of spirit distilled from FY 2020
  • Packaging: 99% material used in packaging is recyclable
  • Employee: 90% employee engagement score, 30% women's representation
  • Community: 1 million+ CSR beneficiaries (>50% women)
  • Tax Contribution: ₹21,614 Crores contributed to exchequer during FY26

Shareholding & Capital Structure

  • Promoter Holding: 56.67% with Diageo Relay B.V. holding 55.88%
  • Dematerialization: 99.62% of shares in demat form
  • Paid-up Capital: ₹145 crores (72,73,50,853 equity shares of ₹2 each)
  • USL Benefit Trust: Holds 2.38% (1,72,95,450 shares)

Legal & Regulatory Matters

  • UBHL Loan: Written off ₹1,238 crores loan receivable after offsetting ₹206 crores trademark payable
  • Tax Contingencies: ₹385 crores in income tax matters and ₹327 crores in indirect tax matters under dispute
  • Water Charges Demand: Provision made for Maharashtra water charges demand pending in Bombay High Court
  • Compliance with all mandatory SEBI Listing Regulations and Companies Act requirements

Segment Performance

  • Beverage Alcohol Segment: Revenue ₹12,467 crores, EBITDA ₹2,286 crores
  • Sports Segment (Discontinued): Revenue ₹545 crores, EBITDA ₹159 crores (classified as held for sale)

The company demonstrated robust operational performance with strategic portfolio optimization through the RCSPL divestment and premium brand acquisitions, while maintaining strong governance and ESG commitments.