United Spirits (USL) on Tuesday said it is initiating a strategic review of selected popular brands, continuing the strategy towards long-term profitable growth through premiumising the company's portfolio.
USL's popular portfolio comprises around 30 brands and the strategic review will focus on approximately half of this portfolio by volume. This review will not include the McDowell's or Director's Special trademarks. The strategic review is expected to be completed by the end of the 2021 calendar year. The announcement was made post market hours yesterday, 23 February 2021.
Anand Kripalu, the managing director & chief executive officer (CEO) of United Spirits, said: "This review reinforces USL's & Diageo's commitment to deliver sustainable long-term growth and improved profitability, through a sharpened focus on core Popular and Prestige & Above brands, including international brands."
United Spirits' consolidated net profit jumped 20.8% to Rs 280.30 crore on 3.3% fall in net sales to Rs 2,673 crore in Q3 December 2020 over Q3 December 2019.
Shares of USL slipped 0.84% to Rs 545.55. USL manufactures and distributes a variety of alcohols and spirits, including whiskey, brandy and rum. The company also manufactures Indian-made foreign liquor brands.
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