In a country where festive spirits rise faster than GDP, United Spirits decided to serve profits neat — no soda, no dilution. 🍸 Even Maharashtra’s policy hangover couldn’t stop the buzz. From Godawan’s couture debut at London Fashion Week to Smirnoff’s Minty Jamun setting North India abuzz, the company poured a cocktail of innovation and arrogance — shaken, not stirred. As the Bible reminds us, “Wine that gladdens human hearts.” Investors surely clinked a glass this quarter. Stick around — the whisky gets smoother deeper in.
2. At a Glance
Revenue up 10.1% (H1): The bar’s open, even Andhra’s back in business.
P&A segment +10.9%: Premiumization — because regular whisky is so 2015.
Gross margin 47.1%: Up 190 bps — proof that margin is the new malt.
EBITDA ₹672 Cr (+33% YoY): CFO calls it productivity; the market calls it a miracle.
PAT ₹472 Cr (+41% YoY): Profits finally toast-worthy.
A&P spend 8.4%: When ads hit harder than Old Monk.
3. Management’s Key Commentary
“We are back to double-digit P&A growth despite Maharashtra headwinds.” (Translation: Maharashtra tried to kill the buzz; we just switched brands. 😏)
“Godawan has crossed 100+ awards in under two years.” (India’s single malt just flexed harder than Glenfiddich.)
“Smirnoff Minty Jamun is leading growth.” (Who knew vodka and Jamun would save the quarter?)
“Gross margin expanded 190 bps to 47.1%.” (Translation: More money per peg — cheers, inflation!)
“We remain cautiously optimistic on the second half.” (Corporate-speak for: pray Maharashtra doesn’t mess it up again.)
“RCB — no update right now.” (Translation: The only Royal Challenge they’re dodging is about Virat’s ex-team.)
“Innovation will be our big unlock.” (Aka: next flavor drop coming soon to your hangover.)
