Page 2 - Liquor Firms

United Spirits to focus on premium brands after selling 32 low-priced ones

United Spirits's higher-priced products, called 'Prestige & Above' segment, accounted for 72.5% of net sales in FY22

United Spirits board okays sale of select liquor brands, reshape portfolio

USL's popular portfolio comprises around 30 entry-level lower-priced liquor brands, with an average price less than Rs 400

India should drop its high foreign liquor taxes, says France's Pernod

The 150% tax on imported liquor has long been a sore point for the industry, and poses a "large challenge" for Pernod Ricard, South Asia CEO Thibault Cuny said

Liquor makers approach NCLAT, allege abuse of dominance by KSBC

Liquor industry bodies CIABC and ADBVI have approached the NCLAT alleging abuse of dominant position by the Kerala State Beverages (Manufacturing and Marketing) Corporation in the state

No sale of liquor during weekend curfew: Karnataka Excise Minister

The Karnataka government issued a set of prohibitory orders including weekend and night curfews for two weeks to check the rising Covid cases

Riding on innovation, Old Monk eyes record 10 million sales next year

The company also started the sale of beer brand Old Monk 10000 (American Malt Liquor) in August

Global liquor makers hail Maharashtra govt's move to cut excise duty

Global liquor major Diageo and the International Spirits and Wines Association of India (ISWAI) on Monday welcomed the move of the Maharashtra government to slash the excise duty by 50 per cent on imported liquor. However, domestic Indian-made foreign liquor (IMFL) manufacturers are opposing the move. The Confederation of Indian Alcoholic Beverage Companies (CIABC), which represents the domestic liquor industry, said it is "fraught with danger" for the Indian industry and will reduce the state government's revenues. The Maharashtra government has slashed excise duty on imported scotch whiskey by 50 per cent to bring its price on par with that in other states. Diageo, which owns global brands such as Johnnie Walker, Black & White, Vat 69, Smirnoff - termed it as progressive' policy and compliment the Maharashtra Government. "Diageo India welcomes the reduction in excise duty on imported spirits, which is in line with what we are seeing in other states. The reduction in duties will

With Delhi's new excise policy in, 194 set to lose jobs

With the discontinuation of Delhi government liquor vends in wake of the new excise policy, 194 outsourced employees hired through (ICSIL), engaged in liquor business have lost their jobs.

Liquor business: New excise regime to hit Delhi markets from Wednesday

Tuesday was the last business day for nearly 600 government-run liquor shops operating across the national capital

Alcohol stocks in limelight, jump up to 10%; United Spirits at record high

Pioneer Distilleries, Tilaknagar Industries, IFB Agro Industries, Khoday India, GM Breweries, Som Distilleries and United Breweries were rallied by upto 10% on the BSE in intra-day today.

United Spirits second quarter profit jumps two-fold to Rs 286 crore

During the quarter, USL's off-trade gained momentum as the second wave of the pandemic started receding, while on-trade continues to gradually recover with the easing of restrictions

Delhi govt has power to float New Excise Policy 2021, observes HC

The Delhi High Court refused to stay the closure of retail vends having L7 licences for the sale of Indian liquor in private sector under the old policy with effect from September 30

HC asks Delhi govt to respond to liquor retailers' pleas to extend licences

The Delhi HC sought response of the Delhi government on two pleas by retail liquor vendors seeking to extend their licences in particular categories till Nov 16

Ethanol-petrol blending may push liquor prices up: Radico Khaitan

Prices of Extra Neutral Alcohol (ENA) may face some headwinds as the government pushes towards its target of blending of 10 per cent fuel-grade ethanol with petrol by 2022, said Radico Khaitan

Retail licence bidding to supply liquor in Delhi to open on Friday

Bidding for retail licences to supply liquor in 12 zones of the national capital will open on Friday with the Excise Department of the Delhi government

Kerala: Online booking, payment for liquor from select outlets from Aug 17

From August 17, people can book and pay online for liquor from select retail outlets of the Kerala State Beverages Corporation

Rs 3.9 trillion alcohol beverage market to grow at 6.8%: ICRIER

India is one of the fastest growing alcoholic beverages markets globally with an estimated market size of 52.5 billion dollars (about Rs 3.9 lakh crore), ICRIER has said

Bidding of retail liquor vends in Delhi by Excise dept earns Rs 5,300 cr

The initial bidding of retail liquor vends in 20 zones across the national capital by the Delhi government's Excise department on Friday raked in Rs 5,300 crore, official sources said.

United Spirits, part of Diageo, exits liquor delivery firm Hip Bar

Hip Bar Pvt Ltd had a turnover of Rs 50 lakh in the financial year ended March 31, 2020 and its net worth was Rs 7.76 crore.

Liquor firm United Spirits Q1 posts consolidate net profit at Rs 50 crore

Diageo-controlled liquor maker United Spirits Ltd on Friday reported a consolidated net profit of Rs 50.3 crore for the quarter ended June 2021, helped by double-digit growth in sales. The company had posted a net loss of Rs 246.6 crore in the April-June period a year ago when most of the liquor shops were closed (till half of the quarter) due to the national lockdown. Its revenue from operations rose 61.44 per cent to Rs 6,168.5 crore as against Rs 3,820.7 crore in the corresponding period of the previous fiscal, United Spirits Ltd (USL) said in a regulatory filing. According to the company, the net sales increased "lapping weak prior-year comparators". "The second Covid-19 wave-induced localised lockdowns impacted the sequential recovery momentum seen over the prior quarters. Off-trade remained resilient despite restrictions," USL said in a post-earnings statement. Total expenses were at Rs 6,079.7 crore, up 50.41 per cent from Rs 4,042 crore earlier. USL's 'Prestige & Above' .