Diageo-controlled liquor maker United Spirits reported its fiscal fourth quarter earnings with profit at Rs 241 crore, up 136.3 per cent in comparison to Rs 102 crore during the corresponding quarter of previous fiscal year. It posted revenue from operations at Rs 6511 crore, up 12.4 per cent as against Rs 5792 crore posted during the same period last year.
The company which has brands such as McDowell’s, Royal Challenge, Signature, Johnnie Walker and Black Dog in its fold, recorded net sales value (NSV) during the quarter at Rs 2783 crore, up 11.2 per cent on-year. This was driven by the growth in the standalone business as well as income from the Indian Premier League. EBITDA for the quarter in review stood at Rs 334 crore.
The company board recommended a final dividend of Rs 5 per equity share (face value Rs 2 each) for the financial year ending 31st March 2024. “The record date for the purpose of determining the entitlement of the shareholders to pay final dividend has been fixed as Friday, 12th July 2024. The final dividend, if any, declared at the AGM will be paid on or after 6th August 2024,” it said in a regulatory filing.
Hina Nagarajan, CEO & Managing Director, said, “We have ended fiscal year 2023-24 delivering our double-digit growth guidance and returned to mid teen margins amidst a challenging external environment. The year witnessed sequentially moderating demand on the back of sustained consumer inflation and post pandemic consumption normalisation. We have continued our premiumisation intent through innovation and renovation to secure future growth. Our most iconic trademark is being renovated and stretched upwards under the new “House of McDowell’s” umbrella that will see it reach new consumers in different sub segments and formats.”
Q4 performance across categories
The Prestige & Above segment accounted for 86.6 per cent of net sales during the fourth quarter of financial year 2024, down 0.3ppts over the prior year. Prestige & Above segment net sales increased 6.6 per cent during the fourth quarter. Meanwhile, the Popular segment accounted for 11.6 pr cent of net sales during the fourth quarter of the financial year 2024, down 3.4ppt compared to the same period last year. The Popular segment net sales grew 3.3 per cent during the fourth quarter.