 "USL extends deadline for strategic review of its liquor brands till May 31")
Diageo-controlled United Spirits Ltd (USL) on Tuesday said it has extended the deadline to complete the "strategic review" of its select popular liquor brands till May 31, 2022.
The company had earlier set the deadline of March 31, 2022 to complete the review process.
"The strategic review of selected popular brands initiated by the company on February 23, 2021 to consider all options to deliver sustainable long-term profitable growth is ongoing. The review is expected to be completed by May 31, 2022," USL said in a regulatory filing.
Earlier, USL had said the strategic review was "expected to be completed by the end of the calendar year 2021".
On December 27, 2021, it had extended the deadline by three months till March 31, 2022.
This review process does not cover the McDowell's or Director's Special trademarks, USL had said earlier.
USL's popular portfolio comprises around 30 entry-level lower-priced liquor brands, with an average price less than Rs 400 for a 750-ml bottle, and straddle whisky, rum, brandy, vodka and gin.
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