United Spirits Ltd

Meeting Details

• Dates: 31 Aug 2026 to 3 Sep 2026
• Meeting type: Group & One-to-One
• Event/organiser: Ashwamedh – Elara India Dialogue 2026

Participants

• Company Secretary and Compliance Officer will represent United Spirits

Purpose

• Purpose: participate in investor conference and engage in investor discussions

FSSAI Revocation Update

• FSSAI revoked the 29 July 2026 order on identified whisky products.
• Revocation concerns whisky products produced at third-party Madhya Pradesh unit.
• Order received by company on 20 August 2026 around 23:50 IST.
• There is no material financial or operational impact.
• Earlier intimation dated 5 August 2026 referenced this matter.

Regulatory update

• FSSAI revoked the 29 June 2026 order on sale of a Baramati unit product.
• Revocation Order dated 17 August 2026; receipt on 18 August 2026.
• No material operational or financial impact reported from the Revocation Order.
• Company filed a High Court Writ Petition challenging the 29 June 2026 order on 1 August 2026.
• Matter is sub judice before the Bombay High Court.
• Industry associations CIABC and ISWAI are involved in related discussions.
• Company continues to monitor the matter; no current financial implications.

Appointment: Archana Sasan as Interim GC

• Appointment as Interim General Counsel (SMP) for Archana Sasan, effective 23 February 2026, initially six months.
• Reason: to ensure continuity due to Shobhana Nikam's indisposition, approved by the Nomination and Remuneration Committee.
• Brief profile: Archana Sasan has held leadership roles at Dell, Bharti Airtel, GE Money, Kochhar & Co.
• Relationship with other directors: Not applicable.

Extension of Interim GC tenure

• Extension approved to extend tenure as Interim General Counsel to 31 December 2026.
• Reason: continuity of in-house leadership due to indisposition of Shobhana Nikam.
• Effective date/term: extension announced to 31 December 2026.
• Brief profile: Archana Sasan is a seasoned legal professional with leadership experience from multiple organizations.
• Relationship with other directors: Not applicable.

AGM Details

• Date and time: 4 August 2026, 3:30 PM.
• Mode: VC/OAVM.
• Cut-off date for voting: 28 July 2026.
• Total shareholders on cut-off: 2,88,925.

Resolutions & Outcomes

• Resolution 1 (Ord): Adopt standalone financial statements; passed.
• Resolution 2 (Ord): Adopt consolidated financial statements; passed.
• Resolution 3 (Ord): Final dividend of ₹11 per share; passed.
• Resolution 4 (Ord): Re-appoint Pradeep Jain on rotation; passed.
• Resolution 5 (Ord): Walker Chandiok & Co. LLP appointed as statutory auditors; passed.
• Resolution 6 (Ord): Remuneration to Cost Auditor Rao, Murthy & Associates; passed.
• Resolution 7 (Special): Vinod Rao appointed as Independent Director; passed.
• Resolution 8 (Ord): Daniel Mobley appointed as Non-Executive Non-Independent Director; passed.

Meeting Details

• Meeting on Thursday, 23 July 2026 at 4:00 PM IST.
• Group earnings & QA conference call; virtual/telephonic.
• Event: Q1FY27 Earnings & Q&A Conference Call hosted by United Spirits.
• MD & CEO and CFO to host the call.
• Discuss Q1FY27 unaudited results for quarter ended June 30, 2026 and Q&A.
• Transcript will be available for download on the company's website.

Overview

• USL manufactures, sells, and distributes alcoholic beverages; standalone reporting boundary.
• BRSR Core indicators with independent assurance by PwC for FY2025-26.
• Non-financial data cover Owned Manufacturing sites, owned/leased offices and warehouses; third-party sites excluded.

Key ESG Risks & Opportunities

• Climate risk to water and inputs mitigated by energy efficiency, renewables, and carbon targets.
• Water scarcity risks addressed via stewardship, replenishment, and efficiency gains.
• Promotion of moderation and responsible drinking seen as strategic opportunity.
• Diversity and inclusion drive talent, innovation, and market alignment.
• Supplier governance via SEDEX/SMETA audits to manage supply-chain risk.

Governance & Policy Highlights

• Board oversight through CSR & ESG Committee; reviews strategy and performance.
• Code of Business Conduct approved by Board; SpeakUp whistleblower channel available.
• Reasonable assurance on BRSR Core indicators by PwC.
• Regulatory directions/payments issued; payments made; appeals filed; disclosures on stock exchanges.
• Boundary excludes Third-Party Manufacturing; boundary reviewed annually.

Social Responsibility & Workforce

• Total workforce: 1,526 employees; 1,497 permanent and 29 others.
• Total workers: 2,579; 2,124 male, 455 female.
• Board female representation: 3 of 10; KMP female: 1 of 3.
• LTIFR: employees 0.49; workers 0.00; total injuries 8.
• Wellbeing spend: 0.06% of revenue; includes health/insurance and EAP.
• Training: 100% Board and employees trained; 88% workers trained.
• CSR programs include Act Smart India, Wrong Side of the Road, Learning for Life.

Environmental Performance

• Total energy: 1,076,854 GJ; renewable share ~94% (incl. i-RECs); solar capacity 4.7 MW.
• GHG: Scope 1 2,522 MT; Scope 2 10,308 MT; total 12,830 MT; intensity 0.46 MT/Cr.
• Water: withdraw 612,646 KL; consumption 607,786 KL; intensity 21.88 KL/Cr.
• Waste: total 68,781 MT; recycled 68,769; incinerated 12; zero landfill.
• 8 of 9 plants have on-site ETPs; 3 sites ZLD certified; LEED Gold for one office.
• Plastic waste collected under EPR: 20,144 MT; 53% inputs from Responsible Sourcing Programme.
• Net-zero target for direct operations by 2040; ~99% renewable energy share after i-RECs.

Stakeholder Engagement & Complaints

• Stakeholders engaged year-round: consumers, employees, communities, investors, suppliers, government.
• Consumer complaints: 448 filed; 32 pending; 416 resolved.
• Employee/worker complaints: 38 filed; 5 pending; POSH complaints: 2 upheld.
• SpeakUp confidential channel available 24/7; QR code introduced this year.
• Engagement includes annual reports, investor meetings, and stakeholder forums.

Other Notable Metrics

• Inputs: 53% sourced from Responsible Sourcing Programme; 26% from MSMEs; 87% from India.
• SMETA/SEDEX audits cover 66% of value-chain partners for health & safety; 34% low-risk onboarded.
• Affiliations: 10 trade associations; active policy engagement at multiple state/national levels.
• Data privacy: 0 data breaches; cyber security policy in place; POSH compliance tracked.
• Product info: 100% products carry health warning; 100% packaging recyclable.
• CSR in aspirational districts: Punjab, Ferozpur spend INR 36.5 lakh; Learn-Life training reaches 1,968 beneficiaries.

Financial performance & strategic developments

• Consolidated revenue ₹28,294 crore.
• Consolidated PAT ₹1,838 crore.
• Total dividend per share ₹17.
• Dividend payout ratio 68%.
• Net debt to equity negative.
• Undrawn bank facilities ₹891 crore.
• Cash and cash equivalents ₹859 crore.
• NAO Spirits stake 97.07%.
• NAO Spirits revenue ₹39 crore in FY26.
• PPA completed for NAO Spirits.