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{{Use dmy dates|date=September 2020}}
{{Use dmy dates|date=September 2020}}
{{Infobox company
{{Infobox company
| Owner = Shaurya shaw
| Owner =
| name = United Spirits Limited
| name = United Spirits
| logo = United-spirits-logo_2.png
| logo = United-spirits-logo_2.png
| caption =
| caption =
| trading_name = Diageo India
| trading_name =
| former type =
| former type =
| type = Public
| type = [[Public company|Public]]
| traded_as = {{Bse|532432}}<br /> {{NSE|MCDOWELL-N}}
| traded_as = {{Bse|532432}}<br /> {{NSE|UNITDSPR}}
| industry = [[Drink industry|Beverages]]
| industry = [[Drink industry]]
| fate =
| fate =
| predecessor = McDowell and Company
| predecessor = McDowell and Company
| foundation = [[Fort St. George, India|Fort St. George]], [[Chennai|Madras]], [[Madras Presidency]], [[British Raj|British India]] ({{Start date|1826}})
| foundation = {{Start date and age|1826}}<br />[[Fort St. George, India|Fort St. George]], [[Chennai|Madras]], [[Madras Presidency]], [[British Raj|British India]]
| founder = Angus McDowell
| founder = Angus McDowell
| location_city = [[UB City|UB Tower]], No. 24, Vittal Mallya Road, [[Bangalore]], [[Karnataka]]
| location_city = UB Tower, No. 24, Vittal Mallya Road, [[Bangalore]], [[Karnataka]]
| location_country = India
| location_country = India
| locations = <!-- Number of locations, stores, offices, etc. -->
| locations = <!-- Number of locations, stores, offices, etc. -->
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| products = [[Alcoholic beverage]]s: [[Distilled beverage|spirits]], [[beer]] and [[wine]]
| products = [[Alcoholic beverage]]s: [[Distilled beverage|spirits]], [[beer]] and [[wine]]
| production =
| production =
| revenue = {{increase}} {{INRConvert|9747|c}} (2022)<ref name="Financials">{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/breweriesdistilleries/unitedspirits/US|title=United Spirits Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| revenue = {{increase}} {{INRConvert|11321|c}} (FY24)<ref name="fy24">{{cite web |title=Press release for the quarter and year ended 31st March 2024 |url=https://www.bseindia.com/xml-data/corpfiling/AttachHis/95aa3f5c-d428-4a1b-9dce-9b171401fe77.pdf |website=BSE |publisher=United Spirits Limited |access-date=3 July 2024}}</ref>
| operating_income = {{increase}} {{INRConvert|1174|c}} (2022)<ref name="Financials"/>
| operating_income = {{increase}} {{INRConvert|2001|c}} (FY24)<ref name="fy24"/>
| net_income = {{increase}} {{INRConvert|810|c}} (2022)<ref name="Financials"/>
| net_income = {{increase}} {{INRConvert|1408|c}} (FY24)<ref name="fy24"/>
| assets = {{increase}} {{INRConvert|8911|c}} (2022)<ref name="Financials"/>
| assets = {{increase}} {{INRConvert|9762|c}} (2023)<ref name="Financials">{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/breweriesdistilleries/unitedspirits/US|title=United Spirits Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| equity = {{increase}} {{INRConvert|4808|c}} (2022)<ref name="Financials"/>
| equity = {{increase}} {{INRConvert|6000|c}} (2023)<ref name="Financials"/>
| num_employees = 3,200 (2022)<ref name="Financials"/>
| num_employees = 3,200 (2022)<ref name="Financials"/>
| parent = [[Diageo]] (54.8%)<ref name=AboutUs/>
| parent = [[Diageo]] (54.8%)<ref name=AboutUs/>
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}}
}}


'''United Spirits Limited''', abbreviated to '''USL''', formerly known as United Breweries Limited is an Indian [[alcoholic beverage]]s company, and the world's second-largest spirits company by volume.<ref>{{cite news|author=M Padmakshan |agency=ET Bureau |url=http://articles.economictimes.indiatimes.com/2010-01-25/news/28421797_1_usl-diageo-united-spirits |title=USL's now world's No 2 spirit co, replaces Pernod |newspaper=[[The Economic Times]] |date=25 January 2010 |access-date=27 July 2013}}</ref> It is a subsidiary of [[Diageo]], and headquartered at [[UB City|UB Tower]] in [[Bangalore]], [[Karnataka]]. USL exports its products to over 37 countries.<ref name=AboutUs>{{cite web|url=http://unitedspirits.in/aboutus.aspx |title=About Us > USL at a Glance |publisher=Unitedspirits.in |access-date=27 July 2013}}</ref>
'''United Spirits Limited''', abbreviated to '''USL''', is an Indian [[alcoholic beverage]]s company, and the world's second-largest [[liquor|spirits]] company by volume.<ref>{{cite news|author=M Padmakshan |agency=ET Bureau |url=http://articles.economictimes.indiatimes.com/2010-01-25/news/28421797_1_usl-diageo-united-spirits |archive-url=https://web.archive.org/web/20131025061810/http://articles.economictimes.indiatimes.com/2010-01-25/news/28421797_1_usl-diageo-united-spirits |url-status=dead |archive-date=25 October 2013 |title=USL's now world's No 2 spirit co, replaces Pernod |newspaper=[[The Economic Times]] |date=25 January 2010 |access-date=27 July 2013}}</ref> It is a subsidiary of [[Diageo]], and headquartered at UB Tower in [[Bangalore]], [[Karnataka]]. USL exports its products to over 37 countries.<ref name=AboutUs>{{cite web|url=http://unitedspirits.in/aboutus.aspx |title=About Us > USL at a Glance |publisher=Unitedspirits.in |access-date=27 July 2013}}</ref>


According to the official website of the company, as of March 2013, USL has more than 140 liquor brands, of which 15 brands each sell more than one million cases annually while 3 brands each sell more than 10 million cases annually.<ref>{{cite web|url=http://unitedspirits.in/aboutus.aspx |title=United Spirits Limited (USL) - Who We Are &#124; About Us |publisher=Unitedspirits.in |date=31 March 2013 |access-date=7 August 2015}}</ref>
According to the official website of the company, as of March 2013, USL has more than 140 liquor brands, of which 15 brands each sell more than one million cases annually while 3 brands each sell more than 10 million cases annually.<ref>{{cite web|url=http://unitedspirits.in/aboutus.aspx |title=United Spirits Limited (USL) - Who We Are &#124; About Us |publisher=Unitedspirits.in |date=31 March 2013 |access-date=7 August 2015}}</ref>
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The company originated as a trading company called McDowell and Company (also known as McDowell & Co, McDowell or McDowell's), founded in India in 1826 by Angus McDowell, a Scot.<ref name="telegraphindia3">{{cite web|url=http://www.telegraphindia.com/1121110/jsp/frontpage/story_16181340.jsp |archive-url=https://archive.today/20130727143725/http://www.telegraphindia.com/1121110/jsp/frontpage/story_16181340.jsp |url-status=dead |archive-date=27 July 2013 |title=Diageo bottles Mallya genie |publisher=Telegraphindia.com |date=10 November 2012 |access-date=27 July 2013}}</ref> He set up a [[warehouse]] near [[Fort St. George, India|Fort St. George]], Madras (now [[Chennai]]).<ref name="ambrosiaindia1">{{cite journal |url=http://www.ambrosiaindia.com/2011/april/ub-groups.pdf |title=UB Group supplement with April 2011 issue |publisher=Ambrosia |date=April 2011 |access-date=27 July 2013 |archive-date=3 October 2018 |archive-url=https://web.archive.org/web/20181003020055/http://www.ambrosiaindia.com/2011/april/ub-groups.pdf |url-status=dead }}</ref> The company imported liquor, tobacco products, and other consumer goods into India to serve the needs of British people stationed there.<ref name="ambrosiaindia1"/> McDowell & Company Limited was incorporated as a company in 1898, with an initial capital of {{INRConvert|8|l|year=1898}} as 4,000 [[preferred shares]] and 4,000 [[common shares]] of {{INRConvert|100|year=1898}} each. The company's principal shareholders were A.M. Hooper, G.D. Coleman, and G.A. Ruppell.<ref name="ambrosiaindia1"/>
The company originated as a trading company called McDowell and Company (also known as McDowell & Co, McDowell or McDowell's), founded in India in 1826 by Angus McDowell, a Scot.<ref name="telegraphindia3">{{cite web|url=http://www.telegraphindia.com/1121110/jsp/frontpage/story_16181340.jsp |archive-url=https://archive.today/20130727143725/http://www.telegraphindia.com/1121110/jsp/frontpage/story_16181340.jsp |url-status=dead |archive-date=27 July 2013 |title=Diageo bottles Mallya genie |publisher=Telegraphindia.com |date=10 November 2012 |access-date=27 July 2013}}</ref> He set up a [[warehouse]] near [[Fort St. George, India|Fort St. George]], Madras (now [[Chennai]]).<ref name="ambrosiaindia1">{{cite journal |url=http://www.ambrosiaindia.com/2011/april/ub-groups.pdf |title=UB Group supplement with April 2011 issue |publisher=Ambrosia |date=April 2011 |access-date=27 July 2013 |archive-date=3 October 2018 |archive-url=https://web.archive.org/web/20181003020055/http://www.ambrosiaindia.com/2011/april/ub-groups.pdf |url-status=dead }}</ref> The company imported liquor, tobacco products, and other consumer goods into India to serve the needs of British people stationed there.<ref name="ambrosiaindia1"/> McDowell & Company Limited was incorporated as a company in 1898, with an initial capital of {{INRConvert|8|l|year=1898}} as 4,000 [[preferred shares]] and 4,000 [[common shares]] of {{INRConvert|100|year=1898}} each. The company's principal shareholders were A.M. Hooper, G.D. Coleman, and G.A. Ruppell.<ref name="ambrosiaindia1"/>


The [[Vittal Mallya]]-run United Breweries Group bought McDowell and Company in 1951.<ref name="telegraphindia3"/> In 1959, Mallya established the company's first distillery at [[Cherthala]], [[Kerala]] on the banks of the [[Vembanad (lake)|Vembanad lake]]. McDowell's began bottling Bisquit Brandy and Dorville French Brandy, from imported [[concentrate]]s, becoming the first company to manufacture [[Indian Made Foreign Liquor]] (IMFL). The company opened India's first [[distillation]] plant to manufacture extra-neutral alcohol (ENA) at Cherthala in 1961. The plant began bottling products for Herbertsons Limited of the Anglo Thai Group that same year. The company launched Golden Grape Brandy, its first original product, in 1962. The company launched [[McDowell's No.1|McDowell's No.1 Brandy]] in 1963–64 when their contract with Herbertsons expired. In the early 1960s, the company acquired Carew & Co and Phipson & Co, manufacturers of rum, gin, and other hard liquors in 1963–64.<ref name="ambrosiaindia1"/>
The [[Vittal Mallya]]-run United Breweries Group bought McDowell and Company in 1951.<ref name="telegraphindia3"/> In 1959, Mallya established the company's first distillery at [[Cherthala]], [[Kerala]] on the banks of the [[Vembanad (lake)|Vembanad lake]]. McDowell's began bottling [https://www.bisquitdubouche.com/ Bisquit] Brandy and Dorville French Brandy, from imported [[concentrate]]s, becoming the first company to manufacture [[Indian Made Foreign Liquor]] (IMFL). The company opened India's first [[distillation]] plant to manufacture extra-neutral alcohol (ENA) at Cherthala in 1961. The plant began bottling products for Herbertsons Limited of the Anglo Thai Group that same year. The company launched Golden Grape Brandy, its first original product, in 1962. The company launched [[McDowell's No.1|McDowell's No.1 Brandy]] in 1963–64 when their contract with Herbertsons expired. In the early 1960s, the company acquired Carew & Co and Phipson & Co, manufacturers of rum, gin, and other hard liquors in 1963–64.<ref name="ambrosiaindia1"/>


The company launched [[McDowell's No.1]] whisky in 1968, and commissioned new distilleries in [[Hyderabad, India|Hyderabad]], [[Ponda, Goa|Ponda]] ([[Goa]]), and Hathidah ([[Bihar]]) over the next few years. In the late 1970s, distilleries were acquired in [[Udaipur]], [[Alwar]], Mirganj, and [[Serampore]], and a plant was built in [[Pondicherry]]. The company bought out Herbertsons in 1973. Mallya's son, [[Vijay Mallya]], took over as director of McDowell's the same year and assumed chairmanship of UB Group and McDowell's after Vittal Mallya died in 1983. McDowell's moved its headquarters from Madras to [[Bangalore]] in 1987. The company established a technical center for product and process development research in Bangalore in 1989. [[McDowell's No.1 Rum]] was launched in 1990. McDowell's acquired the spirits business and manufacturing facility of Forbes Campbell & Company Limited. McDowell's formed United Distillers India Limited, India's first joint venture in the alcoholic beverages industry, with [[United Distillers]] of the United Kingdom in 1991–92. McDowell's [[Signature (whisky)|Signature whisky]] was launched in 1994. In 1995, Carew Phipson Limited, Consolidated Distilleries Ltd, and several other companies were merged into McDowell's.<ref name="ambrosiaindia1"/> The company was incorporated as McDowell Spirits Ltd in 1999. The name was changed to McDowell & Company Ltd on 1 April 2000. McDowell Alcobev became a wholly owned subsidiary of McDowell & Company in 2002. In the same year, the company acquired Phipson Distillery, McDowell International Brands Ltd, and most of Triumph Distilleries & Vinters Pvt Ltd. McDowell launched Derby Special Whisky in 2003 and Old Cask rum in 2004.<ref>[http://www.indiainfoline.com/Markets/Company/Background/Company-Profile/United-Spirits-Ltd/532432 United Spirits Ltd Background details about Company Profile]. Indiainfoline.com. Retrieved on 23 December 2013.</ref>
The company launched [[McDowell's No.1]] whisky in 1968, and commissioned new distilleries in [[Hyderabad, India|Hyderabad]], [[Ponda, Goa|Ponda]] ([[Goa]]), and Hathidah ([[Bihar]]) over the next few years. In the late 1970s, distilleries were acquired in [[Udaipur]], [[Alwar]], Mirganj, and [[Serampore]], and a plant was built in [[Pondicherry]]. The company bought out Herbertsons in 1973. Mallya's son, [[Vijay Mallya]], took over as director of McDowell's the same year and assumed chairmanship of UB Group and McDowell's after Vittal Mallya died in 1983. McDowell's moved its headquarters from Madras to [[Bangalore]] in 1987. The company established a technical center for product and process development research in Bangalore in 1989. [[McDowell's No.1 Rum]] was launched in 1990. McDowell's acquired the spirits business and manufacturing facility of Forbes Campbell & Company Limited. McDowell's formed United Distillers India Limited, India's first joint venture in the alcoholic beverages industry, with [[United Distillers]] of the United Kingdom in 1991–92. McDowell's [[Signature (whisky)|Signature whisky]] was launched in 1994. In 1995, Carew Phipson Limited, Consolidated Distilleries Ltd, and several other companies were merged into McDowell's.<ref name="ambrosiaindia1"/> The company was incorporated as McDowell Spirits Ltd in 1999. The name was changed to McDowell & Company Ltd on 1 April 2000. McDowell Alcobev became a wholly owned subsidiary of McDowell & Company in 2002. In the same year, the company acquired Phipson Distillery, McDowell International Brands Ltd, and most of Triumph Distilleries & Vinters Pvt Ltd. McDowell launched Derby Special Whisky in 2003 and Old Cask rum in 2004.<ref>[http://www.indiainfoline.com/Markets/Company/Background/Company-Profile/United-Spirits-Ltd/532432 United Spirits Ltd Background details about Company Profile]. Indiainfoline.com. Retrieved on 23 December 2013.</ref>


On 21 March 2005, McDowell & Company entered into an agreement with Jumbo World Holdings Limited (JWHL) in [[Dubai]] to acquire [[Shaw Wallace]].<ref name="telegraphindia1">{{cite news|url=http://www.telegraphindia.com/1050322/asp/business/story_4522815.asp |archive-url=https://archive.today/20130712061013/http://www.telegraphindia.com/1050322/asp/business/story_4522815.asp |url-status=dead |archive-date=12 July 2013 |title=Mallya bottles Shaw Wallace |newspaper=[[The Telegraph (Calcutta)|The Telegraph]] |date=22 March 2005 |access-date=9 June 2013}}</ref><ref name="telegraphindia2">{{cite news|url=http://www.telegraphindia.com/1080425/jsp/business/story_9185627.jsp |archive-url=https://archive.today/20130712061151/http://www.telegraphindia.com/1080425/jsp/business/story_9185627.jsp |url-status=dead |archive-date=12 July 2013 |title=Shaw Wallace braces for final battle |newspaper=[[The Telegraph (Calcutta)|The Telegraph]] |date=25 April 2008 |access-date=9 June 2013}}</ref> The board of Shaw Wallace approved the merger of the company with USL and fixed the appointed date of the merger as 1 April 2008 subject to approvals.<ref>{{cite news|url=http://www.hindu.com/2007/11/30/stories/2007113057352000.htm |archive-url=https://web.archive.org/web/20071202131538/http://www.hindu.com/2007/11/30/stories/2007113057352000.htm |url-status=dead |archive-date=2 December 2007 |title=Shaw Wallace board okays merger with USL |newspaper=[[The Hindu]] |date=30 November 2007 |access-date=9 June 2013}}</ref> In 2006, McDowell & Co Limited, Herbertsons Limited, Triumph Distillers and Vintners Private Limited, Baramati Grape Industries India Limited, Shaw Wallace Distilleries Limited and four other companies are merged to form United Spirits Limited. Bouvet Ladubay, a subsidiary of France-based [[Taittinger]] was acquired the same year.<ref name="ambrosiaindia1"/> The UB Group purchased [[Whyte & Mackay]] in May 2007 for £595 million.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/scotland/6659779.stm |title=Whisky giant sold to billionaire |work=BBC News |date=16 May 2007 |access-date=27 July 2013}}</ref> USL also acquired Liquidity Inc., makers of [[Pinky Vodka]], in 2007. USL launched Black Dog 18 YO and Four Seasons Barrique Reserve in 2009–10, and McDowell's No 1 Platinum, 100% grain-based whisky, in 2011.<ref name="ambrosiaindia1"/>
On 21 March 2005, McDowell & Company entered into an agreement with Jumbo World Holdings Limited (JWHL) in [[Dubai]] to acquire [[Shaw Wallace]].<ref name="telegraphindia1">{{cite news|url=http://www.telegraphindia.com/1050322/asp/business/story_4522815.asp |archive-url=https://archive.today/20130712061013/http://www.telegraphindia.com/1050322/asp/business/story_4522815.asp |url-status=dead |archive-date=12 July 2013 |title=Mallya bottles Shaw Wallace |newspaper=[[The Telegraph (Calcutta)|The Telegraph]] |date=22 March 2005 |access-date=9 June 2013}}</ref><ref name="telegraphindia2">{{cite news|url=http://www.telegraphindia.com/1080425/jsp/business/story_9185627.jsp |archive-url=https://archive.today/20130712061151/http://www.telegraphindia.com/1080425/jsp/business/story_9185627.jsp |url-status=dead |archive-date=12 July 2013 |title=Shaw Wallace braces for final battle |newspaper=[[The Telegraph (Calcutta)|The Telegraph]] |date=25 April 2008 |access-date=9 June 2013}}</ref> The board of Shaw Wallace approved the merger of the company with USL and fixed the appointed date of the merger as 1 April 2008 subject to approvals.<ref>{{cite news|url=http://www.hindu.com/2007/11/30/stories/2007113057352000.htm |archive-url=https://web.archive.org/web/20071202131538/http://www.hindu.com/2007/11/30/stories/2007113057352000.htm |url-status=dead |archive-date=2 December 2007 |title=Shaw Wallace board okays merger with USL |newspaper=[[The Hindu]] |date=30 November 2007 |access-date=9 June 2013}}</ref> In 2006, McDowell & Co Limited, Herbertsons Limited, Triumph Distillers and Vintners Private Limited, Baramati Grape Industries India Limited, Shaw Wallace Distilleries Limited and four other companies are merged to form United Spirits Limited. Bouvet Ladubay, a subsidiary of France-based [[Taittinger]] was acquired the same year.<ref name="ambrosiaindia1"/>


The UB Group purchased [[Whyte & Mackay]] in May 2007 for £595 million.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/scotland/6659779.stm |title=Whisky giant sold to billionaire |work=BBC News |date=16 May 2007 |access-date=27 July 2013}}</ref> USL also acquired Liquidity Inc., makers of [[Pinky Vodka]], in 2007. USL launched Black Dog 18 YO and Four Seasons Barrique Reserve in 2009–10, and McDowell's No 1 Platinum, 100% grain-based whisky, in 2011.<ref name="ambrosiaindia1" />
⚫
On 27 May 2013, [[Diageo]] acquired a 10% stake in United Spirits at a cost of {{INRConvert|20927196000}}. It also separately acquired an additional 58,668 shares for {{INR}} 85,778,082.<ref>{{cite web|url=http://www.stockmarketwire.com/article/4626872/Diageo-increases-stake-in-United-Spirits.html |title=Diageo increases stake in United Spirits |publisher=Stock Market Wire |date=4 July 2013 |access-date=27 July 2013}}</ref> On 4 July 2013, Diageo bought an additional 14.98% of the company for {{INRConvert|31.35|b}}. Diageo acquired an additional 21.77 million shares at a cost of {{INRConvert|1440}} per share in an off-market deal from United Spirits' promoters, raising its holdings to 25.02 percent of the company.<ref>{{cite news|url=http://www.business-standard.com/article/markets/united-spirits-hits-record-high-on-change-of-guard-113070500225_1.html |title=United Spirits hits record high on change of guard |newspaper=[[Business Standard]] |date=5 July 2013 |access-date=27 July 2013}}</ref><ref>{{cite news|url=http://in.reuters.com/article/diageo-unitedspirits-idINWLB003V220130704 |title=Diageo winds up with 25 pct stake in United Spirits |work=Reuters |date=4 July 2013 |access-date=27 July 2013}}</ref> Following that purchase, Diageo held 36.3&nbsp;million shares in USL, acquired at a cost of {{INRConvert|52358.5|m}},<ref>{{cite web|url=http://www.telegraphindia.com/1130705/jsp/business/story_17083393.jsp |archive-url=https://archive.today/20130727143731/http://www.telegraphindia.com/1130705/jsp/business/story_17083393.jsp |url-status=dead |archive-date=27 July 2013 |title=Diageo ends with 25% in United Spirits |publisher=Telegraphindia.com |date=5 July 2013 |access-date=27 July 2013}}</ref> making it the largest shareholder.<ref>{{cite web|url=http://www.bignewsnetwork.com/index.php/sid/215630410 |title=Diageo completes stake acquisition in United Spirits |publisher=Big News Network |date=4 July 2013 |access-date=27 July 2013}}</ref> Under pressure from Diageo, some substantial changes to the management structure of the firm began to take place in 2013.<ref>Kurian, B., and Dhamija, A., [http://timesofindia.indiatimes.com/business/india-business/Mallya-rejigs-executive-payrolls-as-Diageo-tightens-leash/articleshow/21792773.cms Mallya rejigs executive payrolls as Diageo tightens leash], [[Times of India]], 13 August 2013.</ref>

⚫
On 27 May 2013, [[Diageo]] acquired a 10% stake in United Spirits at a cost of {{INRConvert|20927196000}}. It also separately acquired an additional 58,668 shares for {{INR}} 85,778,082.<ref>{{cite web|url=http://www.stockmarketwire.com/article/4626872/Diageo-increases-stake-in-United-Spirits.html |title=Diageo increases stake in United Spirits |publisher=Stock Market Wire |date=4 July 2013 |access-date=27 July 2013}}</ref> On 4 July 2013, Diageo bought an additional 14.98% of the company for {{INRConvert|31.35|b}}. Diageo acquired an additional 21.77 million shares at a cost of {{INRConvert|1440}} per share in an off-market deal from United Spirits' promoters, raising its holdings to 25.02 percent of the company.<ref>{{cite news|url=http://www.business-standard.com/article/markets/united-spirits-hits-record-high-on-change-of-guard-113070500225_1.html |title=United Spirits hits record high on change of guard |newspaper=[[Business Standard]] |date=5 July 2013 |access-date=27 July 2013}}</ref><ref>{{cite news|url=http://in.reuters.com/article/diageo-unitedspirits-idINWLB003V220130704 |archive-url=https://web.archive.org/web/20160514041307/http://in.reuters.com/article/diageo-unitedspirits-idINWLB003V220130704 |url-status=dead |archive-date=14 May 2016 |title=Diageo winds up with 25 pct stake in United Spirits |work=Reuters |date=4 July 2013 |access-date=27 July 2013}}</ref> Following that purchase, Diageo held 36.3&nbsp;million shares in USL, acquired at a cost of {{INRConvert|52358.5|m}},<ref>{{cite web|url=http://www.telegraphindia.com/1130705/jsp/business/story_17083393.jsp |archive-url=https://archive.today/20130727143731/http://www.telegraphindia.com/1130705/jsp/business/story_17083393.jsp |url-status=dead |archive-date=27 July 2013 |title=Diageo ends with 25% in United Spirits |publisher=Telegraphindia.com |date=5 July 2013 |access-date=27 July 2013}}</ref> making it the largest shareholder.<ref>{{cite web|url=http://www.bignewsnetwork.com/index.php/sid/215630410 |title=Diageo completes stake acquisition in United Spirits |publisher=Big News Network |date=4 July 2013 |access-date=27 July 2013}}</ref> Under pressure from Diageo, some substantial changes to the management structure of the firm began to take place in 2013.<ref>Kurian, B., and Dhamija, A., [http://timesofindia.indiatimes.com/business/india-business/Mallya-rejigs-executive-payrolls-as-Diageo-tightens-leash/articleshow/21792773.cms Mallya rejigs executive payrolls as Diageo tightens leash], [[Times of India]], 13 August 2013.</ref>


In 2014, Diageo's shareholdings rose to 54.8% of USL.<ref name=AboutUs/>
In 2014, Diageo's shareholdings rose to 54.8% of USL.<ref name=AboutUs/>
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==United Spirits brands==
==United Spirits brands==
USL manufactures [[Indian whisky]], [[Scotch whisky]], [[brandy]], [[rum]], [[vodka]], [[gin]] and [[wine]].<ref>{{cite web|title=Brands|url=http://unitedspirits.in/usl-brands.aspx|work=United Spirits Limited|access-date=27 July 2013}}</ref>
USL manufactures [[Indian whisky]], [[Scotch whisky]], [[brandy]], [[rum]], [[vodka]], [[gin]] and [[wine]].<ref>{{cite web |title=Brands |url=http://unitedspirits.in/usl-brands.aspx |archive-url=https://web.archive.org/web/20120920224309/http://unitedspirits.in/usl-brands.aspx |archive-date=2012-09-20 |access-date=27 July 2013 |work=United Spirits Limited}}</ref>


{{col-begin}}
{{col-begin}}
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* McDowell's Single Malt<ref>[http://www.ub-global.com/mcdowells_single_malt.html UB Global]. UB Global. Retrieved on 23 December 2013.</ref>
* McDowell's Single Malt<ref>[http://www.ub-global.com/mcdowells_single_malt.html UB Global]. UB Global. Retrieved on 23 December 2013.</ref>
* [[Royal Challenge]]
* [[Royal Challenge]]
* Royal Challenge American Pride
* [[Signature (whisky)|Signature]]
* [[Signature (whisky)|Signature]]
;Scotch whisky
;Scotch whisky
* [[Black Dog whisky|Black Dog]]
* [[Black Dog (whisky)|Black Dog]]


{{col-break}}
{{col-break}}
;Wine
;Wine
* [[Bouvet Ladubay]]
* Bouvet Ladubay
* [[Four Seasons Wines|Four Seasons]]
* [[Four Seasons Wines|Four Seasons]]
;Vodka
;Vodka
* [[Pinky Vodka|Pinky]]
* [[Pinky Vodka|Pinky]]
* [[Romanov (vodka)|Romanov]]
* [[Romanov (vodka)|Romanov]]
* [[Vladivar Vodka|Vladivar]]
* [[White Mischief (liquor)|White Mischief]]
* [[White Mischief (liquor)|White Mischief]]
{{col-break}}
{{col-break}}
Line 108: Line 110:
* Nacharam, [[Hyderabad]], [[Telangana]]
* Nacharam, [[Hyderabad]], [[Telangana]]
* Bethora-[[Ponda, Goa|Ponda]], Goa
* Bethora-[[Ponda, Goa|Ponda]], Goa
* [[Gopalpur, Odisha|Gopalpur]], [[Odisha]]
* Kumbalgodu, [[Bangalore]], Karnataka
* Kumbalgodu, [[Bangalore]], Karnataka
* Aurangabad, [[Maharashtra]]
* Aurangabad, [[Maharashtra]]
Line 114: Line 115:
* [[Nasik]], Maharashtra
* [[Nasik]], Maharashtra
* [[Alwar]], [[Rajasthan]]
* [[Alwar]], [[Rajasthan]]
* [[Udaipur]], Rajasthan
* [[Nimapara]], [[Odisha]]
* [[Nimapara]], [[Odisha]]
* Pioneer Distillery, [[Nanded]], [[Maharashtra]]
* Pioneer Distillery, [[Nanded]], [[Maharashtra]]
* Rosa, [[Shahjahanpur district]], Uttar Pradesh
* [[Asansol]], [[West Bengal]]
* [[Asansol]], [[West Bengal]]
{{col-break}}
{{col-break}}
Line 127: Line 126:
* Surma Distillery Pvt Ltd ([[Silchar]], Assam)
* Surma Distillery Pvt Ltd ([[Silchar]], Assam)
* M T M Wines & Bottlers Pvt Limited (Naharlagun, [[Arunachal Pradesh]])
* M T M Wines & Bottlers Pvt Limited (Naharlagun, [[Arunachal Pradesh]])
* Chitwan Blenders & Bottlers Pvt Ltd (Bihar)
* Salson Liquors Pvt Ltd (Bihar)
* Aegis Beverages (P) Ltd ([[Bilaspur, Chhattisgarh|Bilaspur]], Chhattisgarh)
* Aegis Beverages (P) Ltd ([[Bilaspur, Chhattisgarh|Bilaspur]], Chhattisgarh)
* Khemani Distilleries Pvt Ltd ([[Daman, Daman and Diu|Daman]])
* Khemani Distilleries Pvt Ltd ([[Daman, Daman and Diu|Daman]])
Line 162: Line 159:
{{United Spirits}}
{{United Spirits}}
{{Nifty 200 companies}}
{{Nifty 200 companies}}
[[Category:Diageo]]

⚫
[[Category:United Spirits]]
[[Category:United Breweries Group]]
[[Category:Distilleries in India]]
[[Category:Distilleries in India]]
[[Category:Drink companies of India]]
[[Category:Drink companies of India]]
[[Category:Manufacturing companies based in Bangalore]]
[[Category:Alcoholic drink companies]]
[[Category:Manufacturing companies based in Bengaluru]]
[[Category:Food and drink companies established in 1826]]
[[Category:Food and drink companies established in 1826]]
[[Category:Indian companies established in 1999]]
[[Category:1826 establishments in British India]]
[[Category:1826 establishments in British India]]
[[Category:Indian companies established in 1826]]
[[Category:Indian companies established in 1826]]
⚫
[[Category:United Breweries Group]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Indian companies established in 1999]]
[[Category:Women's Premier League (cricket) franchise owners]]

Latest revision as of 08:40, 5 December 2024

United Spirits
Company typePublic
BSE: 532432
NSE: UNITDSPR
IndustryDrink industry
PredecessorMcDowell and Company
Founded1826; 199 years ago (1826)
Fort St. George, Madras, Madras Presidency, British India
FounderAngus McDowell
Headquarters
UB Tower, No. 24, Vittal Mallya Road, Bangalore, Karnataka
,
India
Area served
Worldwide
Key people
Hina Nagarajan (MD & CEO)
ProductsAlcoholic beverages: spirits, beer and wine
RevenueIncrease ₹11,321 crore (US$1.3 billion) (FY24)[1]
Increase ₹2,001 crore (US$230 million) (FY24)[1]
Increase ₹1,408 crore (US$160 million) (FY24)[1]
Total assetsIncrease ₹9,762 crore (US$1.1 billion) (2023)[2]
Total equityIncrease ₹6,000 crore (US$700 million) (2023)[2]
Number of employees
3,200 (2022)[2]
ParentDiageo (54.8%)[3]
Websitewww.diageoindia.com

United Spirits Limited, abbreviated to USL, is an Indian alcoholic beverages company, and the world's second-largest spirits company by volume.[4] It is a subsidiary of Diageo, and headquartered at UB Tower in Bangalore, Karnataka. USL exports its products to over 37 countries.[3]

According to the official website of the company, as of March 2013, USL has more than 140 liquor brands, of which 15 brands each sell more than one million cases annually while 3 brands each sell more than 10 million cases annually.[5]

History

[edit]

The company originated as a trading company called McDowell and Company (also known as McDowell & Co, McDowell or McDowell's), founded in India in 1826 by Angus McDowell, a Scot.[6] He set up a warehouse near Fort St. George, Madras (now Chennai).[7] The company imported liquor, tobacco products, and other consumer goods into India to serve the needs of British people stationed there.[7] McDowell & Company Limited was incorporated as a company in 1898, with an initial capital of ₹8 lakh (equivalent to ₹31 crore or US$3.7 million in 2023) as 4,000 preferred shares and 4,000 common shares of ₹100 (equivalent to ₹39,000 or US$460 in 2023) each. The company's principal shareholders were A.M. Hooper, G.D. Coleman, and G.A. Ruppell.[7]

The Vittal Mallya-run United Breweries Group bought McDowell and Company in 1951.[6] In 1959, Mallya established the company's first distillery at Cherthala, Kerala on the banks of the Vembanad lake. McDowell's began bottling Bisquit Brandy and Dorville French Brandy, from imported concentrates, becoming the first company to manufacture Indian Made Foreign Liquor (IMFL). The company opened India's first distillation plant to manufacture extra-neutral alcohol (ENA) at Cherthala in 1961. The plant began bottling products for Herbertsons Limited of the Anglo Thai Group that same year. The company launched Golden Grape Brandy, its first original product, in 1962. The company launched McDowell's No.1 Brandy in 1963–64 when their contract with Herbertsons expired. In the early 1960s, the company acquired Carew & Co and Phipson & Co, manufacturers of rum, gin, and other hard liquors in 1963–64.[7]

The company launched McDowell's No.1 whisky in 1968, and commissioned new distilleries in Hyderabad, Ponda (Goa), and Hathidah (Bihar) over the next few years. In the late 1970s, distilleries were acquired in Udaipur, Alwar, Mirganj, and Serampore, and a plant was built in Pondicherry. The company bought out Herbertsons in 1973. Mallya's son, Vijay Mallya, took over as director of McDowell's the same year and assumed chairmanship of UB Group and McDowell's after Vittal Mallya died in 1983. McDowell's moved its headquarters from Madras to Bangalore in 1987. The company established a technical center for product and process development research in Bangalore in 1989. McDowell's No.1 Rum was launched in 1990. McDowell's acquired the spirits business and manufacturing facility of Forbes Campbell & Company Limited. McDowell's formed United Distillers India Limited, India's first joint venture in the alcoholic beverages industry, with United Distillers of the United Kingdom in 1991–92. McDowell's Signature whisky was launched in 1994. In 1995, Carew Phipson Limited, Consolidated Distilleries Ltd, and several other companies were merged into McDowell's.[7] The company was incorporated as McDowell Spirits Ltd in 1999. The name was changed to McDowell & Company Ltd on 1 April 2000. McDowell Alcobev became a wholly owned subsidiary of McDowell & Company in 2002. In the same year, the company acquired Phipson Distillery, McDowell International Brands Ltd, and most of Triumph Distilleries & Vinters Pvt Ltd. McDowell launched Derby Special Whisky in 2003 and Old Cask rum in 2004.[8]

On 21 March 2005, McDowell & Company entered into an agreement with Jumbo World Holdings Limited (JWHL) in Dubai to acquire Shaw Wallace.[9][10] The board of Shaw Wallace approved the merger of the company with USL and fixed the appointed date of the merger as 1 April 2008 subject to approvals.[11] In 2006, McDowell & Co Limited, Herbertsons Limited, Triumph Distillers and Vintners Private Limited, Baramati Grape Industries India Limited, Shaw Wallace Distilleries Limited and four other companies are merged to form United Spirits Limited. Bouvet Ladubay, a subsidiary of France-based Taittinger was acquired the same year.[7]

The UB Group purchased Whyte & Mackay in May 2007 for £595 million.[12] USL also acquired Liquidity Inc., makers of Pinky Vodka, in 2007. USL launched Black Dog 18 YO and Four Seasons Barrique Reserve in 2009–10, and McDowell's No 1 Platinum, 100% grain-based whisky, in 2011.[7]

On 27 May 2013, Diageo acquired a 10% stake in United Spirits at a cost of ₹20,927,196,000 (US$240 million). It also separately acquired an additional 58,668 shares for ₹ 85,778,082.[13] On 4 July 2013, Diageo bought an additional 14.98% of the company for ₹31.35 billion (US$370 million). Diageo acquired an additional 21.77 million shares at a cost of ₹1,440 (US$17) per share in an off-market deal from United Spirits' promoters, raising its holdings to 25.02 percent of the company.[14][15] Following that purchase, Diageo held 36.3 million shares in USL, acquired at a cost of ₹52,358.5 million (US$610 million),[16] making it the largest shareholder.[17] Under pressure from Diageo, some substantial changes to the management structure of the firm began to take place in 2013.[18]

In 2014, Diageo's shareholdings rose to 54.8% of USL.[3]

In early 2014, Whyte & Mackay, which had been purchased by UB Group in 2007, was sold to Philippines-based Emperador for £430 million.[19]

On 5 November 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that United Spirits with three other subsidiaries based in the UK were allegedly involved with diverting funds amounting to $1.5 billion.[20]

Technical centre

[edit]

The USL technical centre was opened in 1989 in Bangalore, and is recognised by the Department of Scientific & Industrial Research (DSIR) as an in-house Research & Development laboratory.[21]

United Spirits brands

[edit]

USL manufactures Indian whisky, Scotch whisky, brandy, rum, vodka, gin and wine.[22]

Distillery locations

[edit]

USL owns several distilleries throughout India, and also owns one unit in Nepal. Besides these, USL also has several contract and associate distilleries in India, and one in Nepal.[24]

References

[edit]
  1. ^ a b c "Press release for the quarter and year ended 31st March 2024" (PDF). BSE. United Spirits Limited. Retrieved 3 July 2024.
  2. ^ a b c "United Spirits Ltd. Financial Statements". moneycontrol.com.
  3. ^ a b c "About Us > USL at a Glance". Unitedspirits.in. Retrieved 27 July 2013.
  4. ^ M Padmakshan (25 January 2010). "USL's now world's No 2 spirit co, replaces Pernod". The Economic Times. ET Bureau. Archived from the original on 25 October 2013. Retrieved 27 July 2013.
  5. ^ "United Spirits Limited (USL) - Who We Are | About Us". Unitedspirits.in. 31 March 2013. Retrieved 7 August 2015.
  6. ^ a b "Diageo bottles Mallya genie". Telegraphindia.com. 10 November 2012. Archived from the original on 27 July 2013. Retrieved 27 July 2013.
  7. ^ a b c d e f g "UB Group supplement with April 2011 issue" (PDF). Ambrosia. April 2011. Archived from the original (PDF) on 3 October 2018. Retrieved 27 July 2013. {{cite journal}}: Cite journal requires |journal= (help)
  8. ^ United Spirits Ltd Background details about Company Profile. Indiainfoline.com. Retrieved on 23 December 2013.
  9. ^ "Mallya bottles Shaw Wallace". The Telegraph. 22 March 2005. Archived from the original on 12 July 2013. Retrieved 9 June 2013.
  10. ^ "Shaw Wallace braces for final battle". The Telegraph. 25 April 2008. Archived from the original on 12 July 2013. Retrieved 9 June 2013.
  11. ^ "Shaw Wallace board okays merger with USL". The Hindu. 30 November 2007. Archived from the original on 2 December 2007. Retrieved 9 June 2013.
  12. ^ "Whisky giant sold to billionaire". BBC News. 16 May 2007. Retrieved 27 July 2013.
  13. ^ "Diageo increases stake in United Spirits". Stock Market Wire. 4 July 2013. Retrieved 27 July 2013.
  14. ^ "United Spirits hits record high on change of guard". Business Standard. 5 July 2013. Retrieved 27 July 2013.
  15. ^ "Diageo winds up with 25 pct stake in United Spirits". Reuters. 4 July 2013. Archived from the original on 14 May 2016. Retrieved 27 July 2013.
  16. ^ "Diageo ends with 25% in United Spirits". Telegraphindia.com. 5 July 2013. Archived from the original on 27 July 2013. Retrieved 27 July 2013.
  17. ^ "Diageo completes stake acquisition in United Spirits". Big News Network. 4 July 2013. Retrieved 27 July 2013.
  18. ^ Kurian, B., and Dhamija, A., Mallya rejigs executive payrolls as Diageo tightens leash, Times of India, 13 August 2013.
  19. ^ "BBC News – Philippines firm Emperador buys Whyte & Mackay for £430m". BBC News. 9 May 2014.
  20. ^ Tandon, Suneera (7 November 2017). "The Indian superstars of tax haven leaks: Amitabh Bachchan and Vijay Mallya". Quartz India. Retrieved 9 November 2017.
  21. ^ "About us > Technical Center". United Spirits Limited. Retrieved 27 July 2013.
  22. ^ "Brands". United Spirits Limited. Archived from the original on 20 September 2012. Retrieved 27 July 2013.
  23. ^ UB Global. UB Global. Retrieved on 23 December 2013.
  24. ^ "About Us > Distilleries". Unitedspirits.in. Retrieved 27 July 2013.
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