Page 11 - Liquor Firms

United Spirits CEO Kripalu quits, Hina Nagarajan to take over from Jul 1

United Spirits Ltd (USL), a part of global liquor giant Diageo, on Thursday appointed Hina Nagarajan as the company's new CEO with effect from July 1, 2021. Incumbent Anand Kripalu will step down on June 30. Nagarajan is currently the managing director of the Africa Regional Markets (ARM) at Diageo and will join USL as the CEO-Designate from April 1, the company said, adding she will take over formally from July 1 and will be a member of the Diageo Executive Committee. She will report to John Kennedy, the president of Diageo Europe and India. Nagarajan will be based in Bengaluru and will work closely with Kripalu to ensure a smooth transition, the company said. In her current role, she leads Diageo's ARM comprising operations in Ghana, Cameroon, Ethiopia, the Indian Ocean, Angola and several other countries. Before joining Diageo, she was MD China & SVP North Asia with RB (Reckitt Benckiser). She has over 30 years of experience and held several senior marketing and general ...

Globus Spirits hits record high in a weak market; surges 67% in 1 month

In Q1FY21, the company's Ebitda margin grew by 785 basis points YoY to 18.0 per cent on account of higher ENA realisations and softening raw material and fuel prices

Globus Spirits nears 52-week high post Q1 nos; stock up 91% so far in FY21

The company's consolidated net profit jumped 161.4 per cent to Rs 18.72 crore during the quarter under review, compared to Rs 7.16 crore profit in the year-ago period

Liquor makers urge Bengal govt not to implement proposed excise policy

Manufacturers of alcoholic beverages have written to West Bengal Chief Minister Mamata Banerjee, urging her not to go ahead with the proposed new excise policy as it will hurt the liquor industry.

Liquor associations warn against proposed tax hikes in West Bengal

Say it will lead to steep hike in prices which will hit sales, industry and govt revenues

Delhi allows restaurants to serve liquor, keeps bars closed in pandemic

It is estimated that 40 per cent restaurants that had shut down during the lockdown may never open again.

United Breweries: Re-opening of bars, cash reserves augur well for the stk

Analysts at ICICI Securities believe that apart from re-opening of the economy and the subsequent business revival in the medium-to-long term, the company's virtual debt-free status provides comfort

Tamil Nadu govt to allow reopening Liquor outlets in Chennai from Tuesday

According to the government, the liquor shops will function between 10 a.m. and 7 p.m. and only 500 tokens will be issued daily

DMK opposes reopening liquor outlets in Chennai over fears of Covid spread

The DMK chief alleged that TASMAC shops in the rest of TamilNadu had a "big role" in increasing the spread of the virus

Covid-19 impact: Radico Khaitan Q1 profit falls 19.52% to Rs 44.07 crore

Its total revenue from operations declined 33.70% to Rs 1,774.65 crore during the quarter under review as against Rs 2,677.07 crore in the corresponding quarter last year

Covid-19 impact: Diageo India launches programme to help recover bars, pubs

Their top priorities included hygiene measures, digital support and practical equipment and training to transform how their outlets will work when they reopen

Johnnie Walker maker Diageo exploring options to delist in India: Report

Diageo, the maker of Johnnie Walker whiskey and Tanqueray Gin, currently owns an about 56% stake in United Spirits after slowly building it up over several years

Liquor volumes may take 20% hit in FY21 due to closed shops, tax hikes

It could be the sharpest fall in four years

Liquor stocks fall for second straight day as some states hike excise duty

United Breweries, Radico Khaitan, United Spirits, GM Breweries, Associated Alcohols & Breweries and Globus Spirits declined between 3 per cent and 7 per cent on the BSE

Shutters up: From Radico to United Breweries, liquor stocks in high spirits

Analysts say alcohol sales could be an early beneficiary of overall recovery

Wine stores, shops selling non essential goods to open in Mumbai

The restrictions on sale of non essential items and liquor will continue to remain in force in containment zones in Mumbai and Pune metropolitan regions

Too early to say cheers: Liquor stocks face risks over extended lockdown

A sharp rise in excise duty could hurt liquor volumes. UBS has slashed its target price for UBL and UNSP by 20-23 per cent following 12-27 per cent cut in FY21 earnings estimates

Closures hit alcohol manufacturers; govt faces loss of Rs 700 cr a day

Excise duty on liquor is an important revenue source for states, which are not in a strong position financially at present

Hand sanitiser supply to improve as liquor makers step in: Industry body

This follows appeals by various state governments amid rising demand for hand sanitisers in the wake of the coronavirus pandemic

Liquor makers urge govt to reduce duty concessions to boost exports

Giri suggested that the basic customs duty should be slashed to a level which does not create great competitive disadvantage for Indian companies and reduction should be done in a phased manner