United Spirits Ltd released its second quarter results of the fiscal year 2023-24 at with net sales value (NSV) at Rs 2,867 crore and EBITDA at Rs 467 crore. While the NSV grew by 12 per cent, EBITDA growth was recorded at 21.4 per cent on rebased prior year comparators
Meanwhile, on a standalone basis, net sales value stood at Rs 2,865 crore and Prestige and Above saliency of 88 per cent. It said that the total NSV grew 12.2 per cent, Prestige & Above recorded growth of 12.8 per cent, both on rebased prior year comparators. EBITDA, meanwhile, was at Rs 470 crore with margin of 16.4 per cent.
United Spirits added that it has brought its global Tequila trademark Don Julio to India in line with its strategy to bring the best of global offerings to aspiring Indian consumers. Further, the company board has also approved an interim dividend of Rs 4 per share. “This is after a long hiatus, enabled by the successful turnaround of the Company to sustained profitability. We take the opportunity to thank our long-term investors for their patience and commitment,” said Hina Nagarajan, CEO & Managing Director, United Spirits.
“We have maintained the growth and margin momentum in the second quarter of fiscal 2024 on the back of sustained investment in our brands and proven productivity muscle. Continuing our future-back consumer focus approach, we have now brought our global Tequila trademark Don Julio to India. This is in line with our strategy and commitment to bring the best from around the world for our aspiring Indian consumers. We are optimistic on the India potential of this opportunity in-line with global trends,” Hina Nagarajan said.
“Looking ahead, our priority is to sustain the growth momentum and realise the full potential of our portfolio offerings. While inflationary headwinds remain challenging, we remain focussed on revenue growth management & value chain productivity in our quest of long-term value creation for all our stakeholders,” she concluded.