Key Financial Figures - Standalone (₹ in crores)

Quarter Ended September 30, 2026

  • Revenue from operations: ₹7,001
  • Other income: ₹64
  • Total income: ₹7,065
  • Total expenses: ₹6,456
  • Profit before exceptional items and tax: ₹609
  • Exceptional items (net): ₹11 (income)
  • Profit before tax: ₹620
  • Total tax expense: ₹158
  • Profit for the period: ₹462
  • Basic EPS: ₹6.35

Half Year Ended September 30, 2026

  • Revenue from operations: ₹13,114
  • Other income: ₹286
  • Total income: ₹13,400
  • Total expenses: ₹12,237
  • Profit before exceptional items and tax: ₹1,163
  • Exceptional items (net): ₹(70) (expense)
  • Profit before tax: ₹1,093
  • Total tax expense: ₹240
  • Profit for the period: ₹853
  • Basic EPS: ₹11.73

Key Financial Figures - Consolidated (₹ in crores)

Quarter Ended September 30, 2026

  • Revenue from operations: ₹7,014
  • Other income: ₹65
  • Total income: ₹7,079
  • Total expenses: ₹6,471
  • Profit before share of net loss of JVs/associate, exceptional items and tax: ₹608
  • Share of net loss of JVs/associate: ₹(1)
  • Profit before exceptional items and tax: ₹607
  • Exceptional items (net): ₹11
  • Profit before tax from continuing operations: ₹618
  • Profit/(loss) before tax from discontinued operations: ₹(9)
  • Total tax expense: ₹158
  • Profit for the period from continuing operations: ₹460
  • Profit/(loss) after tax from discontinued operations: ₹226
  • Total profit for the period: ₹428
  • Basic EPS from continuing operations: ₹6.48
  • Basic EPS from discontinued operations: ₹(0.45)

Half Year Ended September 30, 2026

  • Revenue from operations: ₹13,136
  • Other income: ₹138
  • Total income: ₹13,274
  • Total expenses: ₹12,266
  • Profit before share of net loss of JVs/associate, exceptional items and tax: ₹1,008
  • Share of net loss of JVs/associate: ₹(1)
  • Profit before exceptional items and tax: ₹1,007
  • Exceptional items (net): ₹(70)
  • Profit before tax from continuing operations: ₹937
  • Profit/(loss) before tax from discontinued operations: ₹259
  • Total tax expense: ₹240
  • Profit for the period from continuing operations: ₹697
  • Profit/(loss) after tax from discontinued operations: ₹194
  • Total profit for the period: ₹891
  • Basic EPS from continuing operations: ₹9.82
  • Basic EPS from discontinued operations: ₹2.73

Segment Performance (Consolidated)

Beverage Alcohol Segment

  • Q2 FY27 Revenue: ₹3,264 crore
  • Q2 FY27 EBITDA: ₹643 crore
  • H1 FY27 Revenue: ₹5,972 crore
  • H1 FY27 EBITDA: ₹1,072 crore

Sports Segment (Discontinued Operations)

  • Q2 FY27 Revenue: ₹0 crore (presented as discontinued)
  • Q2 FY27 EBITDA: ₹(11) crore
  • H1 FY27 Revenue: ₹552 crore
  • H1 FY27 EBITDA: ₹253 crore

Cash Flow Statement - Standalone (H1 FY27)

  • Net cash from operating activities: ₹1,108 crore
  • Net cash from investing activities: ₹76 crore
  • Net cash from financing activities: ₹(867) crore (including dividend payment of ₹773 crore)
  • Net increase in cash: ₹317 crore
  • Cash and cash equivalents at period end: ₹1,172 crore

Capital Structure

  • Share capital remains unchanged at ₹145 crore (145,000,000 equity shares of ₹10 each)
  • Other equity: ₹8,646 crore (standalone), ₹8,917 crore (consolidated)

Exceptional Items

Q2 FY26 includes net exceptional income of ₹11 crore comprising:

  • ₹26 crore income from Supply Agility Programme
  • ₹15 crore charge towards severance costs

H1 FY26 includes net exceptional expense of ₹70 crore comprising:

  • ₹55 crore employee severance costs recognized in Q1
  • ₹26 crore income from Supply Agility Programme
  • ₹15 crore charge towards severance costs in Q2

Legal and Regulatory Matters

RCSPL Disposal

The board approved sale of Royal Challengers Sports Private Limited (RCSPL) on March 24, 2026, for approximately ₹6.9-7.1 crore. Competition Commission of India approval received on June 30, 2026. BCCI approval awaited. Transaction expected to complete within 12 months from original announcement.

IDBI Bank Dispute

Ongoing litigation regarding prepayment of loan disputed by IDBI Bank. Bank claims ₹46 crore outstanding, which company deposited in suspense account per Karnataka High Court directions. Bank retains pledge over company assets and shares held by USL Benefit Trust.

Historical Matters

Company continues to address matters arising from historical inquiries into improper transactions during Vijay Mallya era. Various regulatory notices received from SEBI, ED, RBI, and other authorities. All identified amounts provided for in prior periods. Potential historical non-compliances presently unascertainable.

UBHL Transactions

Outstanding loan of ₹1,337 crore to United Breweries (Holdings) Limited written off in FY 2025-26. Ongoing legal proceedings regarding offset of ₹206 crore and separate claim of ₹151 crore by Official Liquidator.

Subsidiaries and Associates

Consolidated results include 11 subsidiaries, 1 trust controlled by company, 3 joint ventures, and 1 associate. Key subsidiaries include Royal Challengers Sports Private Limited (presented as discontinued operations) and various overseas entities.

Dividend Payment

Company paid dividends totaling ₹773 crore (net) during the half year ended September 30, 2026.

Auditor's Review

Walker Chandiok & Co LLP issued unmodified review conclusions, drawing attention to the IDBI Bank litigation and historical regulatory matters but not modifying their conclusion.