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United Spirits Ltd.

BSE: 532432 Sector: Consumer
NSE: MCDOWELL-N ISIN Code: INE854D01016
BSE LIVE 15:44 | 18 Aug 2603.00 0.30
(0.01%)
OPEN

2575.00

HIGH

2617.10

LOW

2567.00

NSE 15:41 | 18 Aug 2601.90 0.50
(0.02%)
OPEN

2592.00

HIGH

2620.00

LOW

2565.05

OPEN 2575.00
PREVIOUS CLOSE 2602.70
VOLUME 13457
52-Week high 2773.30
52-Week low 1775.05
P/E 79.24
Mkt Cap.(Rs cr) 37,829
Buy Price 0.00
Buy Qty 0.00
Sell Price 2603.00
Sell Qty 9.00
OPEN 2575.00
CLOSE 2602.70
VOLUME 13457
52-Week high 2773.30
52-Week low 1775.05
P/E 79.24
Mkt Cap.(Rs cr) 37,829
Buy Price 0.00
Buy Qty 0.00
Sell Price 2603.00
Sell Qty 9.00

United Spirits Ltd. (MCDOWELL-N) - Chairman Speech

Company chairman speech

Dear Shareholders

I AMPRI VILEGED to be the Chairman of United Spirits. When I joined the USL Boardin April 2015 it was because the promising opportunity ahead was so evident that I wantedto be a part of this company’s future. Everything that I have witnessed in the lastseveral months makes me confident that the Company is on the right track to deliver onthat promise. Three things stand out: (i) the Company’s commitment to the higheststandards of corporate governance and intense focus on compliance and ethical conduct ineverything we do (ii) a strong move to strengthen commercial and operational controlsand institute robust systems and processes and (iii) making the right investments –be it in talent or brands or our manufacturing facilities. In all of the above theCompany has been fully supported by its principal shareholder Diageo.

Despite many positive factors on the country’s economic front a matter of concernis an increasing recourse to Prohibition by a number of States in India. And yet there isenough evidence to show that Prohibition doesn’t curb alcoholism or social ills. Ibelieve rather than proceeding on the assumption that Prohibition is the solution to anumber of social issues formulation of a Public Policy on this issue deserves a widerdebate that includes the adverse consequences of Prohibition particularly the impetusProhibition provides to the production and sale of illicit liquor with resultantill-effects on public health. We are all too familiar with regular tragedies involvingloss of human lives linked to the production and sale of illicit liquor. In addition tothe loss of livelihoods the loss of alcohol as a major source of a State’s taxrevenues negatively impacts its finances as well as the sustainability of welfareprogrammes for the underprivileged of the State. Prohibition also restricts the harnessingof the full potential of tourism in India and the concerned States. It is imperative thatmakers of Public Policy draw lessons from the consequences of short-lived attempts tointroduce Prohibition in a few States. Rather than making ad hoc or opportunisticdecisions for short-term gains I fervently hope they take a holistic and pragmaticapproach to formulate a well-balanced and sustainable policy.

India presents one of the most exciting opportunities in the world. The country isforging ahead as the fastest growing economy. What makes India particularly attractive isnot just the economic growth but what constitutes and drives it. An upwardly mobileaspirational middle-class and a vast number of consumers moving towards affluence isensuring that the core consumption fundamentals remain robust even as we increase ourCompany’s efforts to curb irresponsible drinking as well as drink-driving a corethrust of our Company’s CSR programme.

USL is well positioned to leverage this opportunity with full support and encouragementfrom its principal shareholder Diageo a global leader in its own right. From its strongleadership and management to its dedicated employees from its much-loved brands to theexciting consumer proposition these brands present from its strong network of tradepartners and relationships to its nationwide manufacturing footprint - USL is well set upfor success. We have made good strides in our transformational journey and while there ismore work to be done to reduce complexity in the way we work and simplify the organisationstructure to deliver efficiency and growth I am confident that every single buildingblock we put in place last year has set us firmly on the runway to success.

I thank you for your continued faith and support.

Mahendra Kumar Sharma

Chairman