Q4 2025 United Spirits Ltd Earnings Call Transcript
Key Points
- United Spirits Ltd (BOM:532432) reported a healthy EBITDA margin in the high teens, achieving a long-term target.
- The company experienced strong growth in its Prestige and Above (P&A) segment, with close to double-digit growth.
- The India-UK free trade agreement, reducing duty on Scotch from 150% to 75%, is expected to enhance accessibility and drive volume growth.
- United Spirits Ltd (BOM:532432) has successfully recommenced business in Andhra Pradesh after a five-year hiatus, contributing significantly to growth.
- The company is focusing on innovation and premiumization, with plans to double the innovation contribution to growth in the next three to five years.
- The broader environment remains challenging with subdued demand, impacting overall growth potential.
- Restrictive route-to-market policies in certain states, such as Delhi, have hindered brand presence in high-potential markets.
- The luxury and premium portfolio growth has moderated compared to previous years, indicating potential market saturation or changing consumer preferences.
- Competition is expected to increase with the opening of the market due to the India-UK free trade agreement, potentially impacting market share.
- The company faces bureaucratic delays in key markets, limiting its full potential and requiring resolution for improved market access.
Ladies and gentlemen, good day and welcome to the United Spirits Limited financial year 2025 earnings conference call.
As a reminder, all participant clients will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Shweta Arora, Head of Investor Relations at United Spirits Limited. Thank you and over to you, ma'am.
Thank you, Robin. Hello, everyone. Good evening, and welcome to United Spirits Q4 and Full Year FY25 Earnings Call. Before proceeding in today's presentation, I would like to remind the listeners that during the call, there may be some forward-looking statements that are based on our views and assumptions at this point of the quarter.
This is not a guarantee for future performance and results, materially differ from those expressed in or implied by such forward-looking statements. I request
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