After 2 yrs of muted sales, United Spirits eyes double-digit growth in FY19

Lower working capital intensity, healthy operating cash flows, and non-core asset sales helped bring down the overall debt by about Rs 8 billion to Rs 32.7 billion in FY18

The United Spirits stock has shed 15 per cent from its highs earlier this year, mainly owing to regulatory uncertainty weighing on the sentiment of the liquor sector. Demonetisation, and the ban on sale of liquor near state and national highways, besides issues related to the implementation of the goods and services tax, were among the headwinds. The company reported a sales growth of just 3.8 per cent in FY17 and a fall of 4.5 per cent in FY18. 

This, however, is expected to change as the management is confident of a better environment in terms of pricing and regulations in