Introduction

 United Spirits Limited, abbreviated to USL, is an Indian 

alcoholic beverages company, and the world's second-largest spirits
company by volume.[3] It is a subsidiary of Diageo, and headquartered at 
UB Tower in Bangalore, Karnataka. USL exports its products to over 37
countries.[2]
 According to the official website of the company, as of March 2013, USL
has more than 140 liquor brands, of which 15 brands each sell more than
one million cases annually while 3 brands each sell more than 10 million
cases annually.
overview
Trade name Diageo India
India
Type Public
Public
Traded as BSE: 532432
BSE: 532432
NSE: MCDOWELL-N
NSE: MCDOWELL-N
Industry Beverages
Predecessor
Predecessor McDowell
McDowelland and Company
Company
Founded Fort St. George, Madras, Madras
George, Madras, Madras Presidency, British
Presidency, BritishIndia
India
 (1826)
 (1826)
Founder Angus
Angus McDowell
McDowell
Headquarters
Headquarters UB
UBTower,
Tower,No.
No.24,
24,Vittal
VittalMallya
MallyaRoad, Bangalore, Karnataka
Road, Bangalore, 
, India
Karnataka
, India
Area served Worldwide
Key
Keypeople
people Hina Nagarajan
Nagarajan (MD
(MD&&CEO) CEO)
Products Alcoholic
Alcoholicbeverages: spirits, beer and wine
beverages: spirits, beer and wine
Revenue  ₹9,747 crore (US$1.2 billion) (2022)[1]
Operating income  ₹1,174 crore (US$150 million) (2022)[1]
Net income  ₹810 crore (US$100 million) (2022)[1]
Total assets  ₹8,911 crore (US$1.1 billion) (2022)[1]
Total equity  ₹4,808 crore (US$600 million) (2022)[1]
Number of employees 3,200 (2022)[1]
Parent Diageo (54.8%)[2]
Merger and acquisition

- On April 2009, Merger of Balaji Distilleries Ltd into United Spirits Ltd
Approved.

-On May 2011, United Spirits Ltd enters into Share Purchase Agreement
with Pioneer Distilleries Ltd.
- On June 2011, United Spirits Ltd had acquisition of 41.54 % Equity stake in Sovereign
Distilleries Ltd

-In 2012, United Spirits acquires 100% ownership in Sovereign Distilleries Ltd.

-In 2014, United Spirits Ltd Diageo completes Tender Offer for 26% of United Spirits Ltd
CSR Activity
-Rajasthan Police and Diageo India collaborate with Institute of Road Traffic
Education for a two day Road Safety Programme in Jaipur. -Diageo India extends
its Road Safety Programme to the Traffic Police of Uttar Pradesh together with the
Institute of Road Traffic Education.

-Diageo India partner with Police of Tripura for a National Capacity Building
Program. -Diageo India together with IRTE extends capacity-building training to
the Indian Navy in Karnataka.
Product

Antiquity Signature Royal Challenge

DSP Black Bagpiper McDowell’s No.1
Whisky
Black dog Black Dog Scotch VAT 69 Scotch
McDowell's No.1 Celebration Rum
 Wine

Four Seasons Bouvet Ladubay

 Vodka

Pinky Romanov Ciroc Smirnoff White Mischie

f
 Brandy

Honey bee Mcdowells vsop

 Gin

BlueRiband
United Spirits Shareholding
History And Development
Founded by Angus McDowell in 1826 as McDowell & Co., the company catered to the needs of the British in India. They
imported alcoholic beverages, tobacco and other products for the British. In 1951 the UB Group took over Mc Dowell & Co.
The owner, Vittal Mallya started the first distillery in Kerala and began manufacturing Biscuit Brandy and Darville French
Brandy. The first ever in-house product, the Golden Grape Brandy was launched in 1962. In 1963, the company began
manufacturing its McDowell’s No.1 Brandy. In the same year Mallya took over Carew & Co. with distilleries in Uttar Pradesh
and West Bengal.
In 1968, the Iconic Mc Dowell’s No.1 Whisky was launched, and it proved to be a hit among the whisky lovers. This was also
the year when the Hyderabad distellery was established, followed by one in Goa in 1971 and another in Bihar in 1973. Mallya
acquired the Herbetsons in 1973 and announced that his son Vijay Mallya would be taking over as Director of the group. In the
years to come, there were distilleries springing up across country in Udaipur, Alwar, Pondicherry and Serampore. In 1983 Vijay
Mallya took over as Chairman on the UB Group, focussing on product development and strategy.
1In991, Mc Dowell’s acquired the spirits business of Forbes Campbell & Co., along with their manufacturing plant in
Nashik. 1992 saw the launch of Asia’s first Single Malt, Gin and Vodka. The Antiquity Rare Premium became an
exquisite blend manufactured by Shaw Wallace, a company which was acquired in 2005 by the UB Group. The Antiquity
brand captured 44% of the market share in the Indian spirit market .
In 1994 another winning brand called Signature was launched. In the same year Mc Dowell’s increased it’s manufacturing
unit by adding 9 facilities. In 2006, USL was formed with the merger of Mc Dowell & Co., Triumph Distillers,
Herbetsons Ltd, Baramati Grape Industries India Limited, Shaw Wallace Distelleries and four other companies.
Later, in 2007, USL took over Liquidity Inc. and in the same year the UB group bought Whyte & Mackay for 595 million
GBP. USL took the third place in the world, as an established spirit manufacturer. Sales continued to soar with the
acquisition of every new venture and a well-thought of sales strategy. In 2009, The Black Dog 18 Year Old was launched as
 Headquater

The USL technical centre was opened in 1989 in Bangalore, and is recognised by the 
Department of Scientific & Industrial Research (DSIR) as an in-house Research & Development laboratory.[20]
Vision and Mission

Vision
Neither we nor society benefits when consumers misuse our products. Our
work to change attitudes to alcohol and encourage responsibility aims to
promote the sustainability of our business and of society.

 Mission

To be the most admired global leader in the sprits industry by creating unique high-quality
brands for consumer, driven by highly motivated employees and supported by best-in-class
processes and continued innovations. United Sprits is and will continue to be responsible
towards its stakeholders and the society.”
Financial Results
in Cr.) 2022 2021 2020 2019 2018
Income Statement
Revenue 30,731.10 27,176.40 28,589.20 28,512.30 26,069.10
Other 41.50 47.80 45.50 95.20 206.00
Income
Total
Income 30,772.60 27,224.20 28,634.70 28,607.50 26,275.10
Expendit
-29,494.40 -26,505.90 -27,272.50 -27,471.60 -25,299.70
ure
Interest -64.90 -165.80 -190.70 -220.00 -261.10
PBDT 1,278.20 718.30 1,362.20 1,135.90 975.40
Deprecia
tion -254.20 -249.30 -227.50 -144.50 -135.10
PBT 1,024.00 469.00 1,134.70 991.40 840.30
Tax -254.20 -158.70 -430.00 -332.80 -278.60
Net 769.80 310.30 704.70 658.60 561.70
Profit
Equity 145.30 145.30 -- 145.33 145.30
Under Sections 11(1), 11(4) &
11B of the Securities and Exchange Board of India Act, 1992.

In the matter of fund diversions and/or improper transactions in United Spirits

Limited.
Markets regulator Sebi on Tuesday imposed a penalty totalling more than Rs 3 crore on three
persons for insider trading activities in the shares of United Spirits Ltd.

The watchdog has slapped a fine of Rs 1.32 crore on Poonam Haresh Jashnani, Rs 93.24 lakh
on Haresh Parmanand Jashnani and Rs 80.76 lakh on Varun Haresh Jashnani. An investigation
was carried out with respect to the scrip of United Spirits Ltd.
Financial Results
Quaterly Report
(in Cr.) Sep-22 Jun-22 Mar-22 Dec-21 Sep-21 FY 21-22
Income Statement
Revenue 8,251.40 6,881.50 7,666.70 8,854.50 8,148.00 30,731.10
Other Income 8.10 25.10 25.80 1.60 3.50 41.50

Total Income 8,259.50 6,906.60 7,692.50 8,856.10 8,151.50 30,772.60

Expenditure -7,448.00 -6,662.30 -7,425.90 -8,397.60 -7,720.50 -29,494.40

Interest -14.10 -16.60 -12.70 -33.80 1.40 -64.90
PBDT 811.50 244.30 266.60 458.50 431.00 1,278.20
Depreciation -55.90 -65.30 -67.10 -66.20 -65.50 -254.20
PBT 755.60 179.00 199.50 392.30 365.50 1,024.00
Tax -192.60 31.30 -63.30 -101.20 -92.10 -254.20
Net Profit 563.00 210.30 136.20 291.10 273.40 769.80
Equity 145.30 145.30 145.30 145.30 145.30 145.30
Customer Segment

The segment-wise key brands from United Spirits Limited’s

portfolio are considered on the basis of different categories
that the business has structured.
Operationaldetails
Manufactring USL owned units
•Malkajgiri, Hyderabad, Telangana
•Nacharam, Hyderabad, Telangana
•Bethora-Ponda, Goa
•Palwal, Haryana
•Nandoor K, Gulbarga
•Kumbalgodu, Bangalore, Karnataka
•Aurangabad, Maharashtra
•Nasik, Maharashtra
•Khurda, Odisha
•Alwar, Rajasthan
•Udaipur, Rajasthan
•Meerut, Uttar Pradesh
•Rosa, Shahjahanpur district, Uttar Pradesh
•Asansol, West Bengal
•Baramati, Maharashtra
SWOT Analysis

STRENGTHS WEAKNESS

> Strong Brand Portfolio. >The company is susceptible to raw material

> Largest Alco Bev company in India. price volatility, which leads to fluctuating Gross
> Diageo Expertise helping United Spirits. Margins.
> More than 10 millionaire brands. > No pricing power even if the raw material
> Best Margins in the Industry. price increases.
> P&A Category, the largest contributor to >Direct advertisement of alcobev products are
return not permitted in India.
SWOT Analysis

OPPORTUNITIES THREATS

>Transition from country liquor to IMFL > Excessive regulation risk from both
presents a huge opportunity. Central and State Governments.
> Per capita consumption of Liquor is among > Rise in Competitive Intensity from
the lowest in India. Pernord Ricard.
> Liquor Ban in any State (E.g. Ban in Bihar
in 2017).
> Lower than expected growth in P&A
segment could delay margin expansion.