McDowell shareholders, creditor battle it out for Rs 920-cr UB shares
Shareholders of McDowell Holdings have decided to invoke Section 12. A of the Insolvency and Bankruptcy Code, to pay up the ₹16.8 crore dues to Sunstar Hotels & Estates, after the creditor declined to accept the payment as part of the settlement of the insolvency process, said people familiar with the matter.
USL extends strategic review by another three months
"On 23 February 2021, we initiated a strategic review of selected popular brands. This strategic review is ongoing and is considering all options to deliver sustainable long-term profitable growth. The review is expected to be completed by March 31, 2022," USL said.
United Spirits Ltd extends deadline for strategic review of selected popular liquor brands by 3 months
USL's popular portfolio comprises around 30 entry-level lower-priced brands, with an average consumer price less than Rs 400 for a 750 ml bottle and straddle whisky, rum, brandy, vodka and gin. Under the strategic review, USL will therefore assess all options to continue this approach while taking into account the potential impacts of each.
Curbs have hurt, but liquor business will recover fast: United Spirits Ltd
United Spirits Ltd (USL), the countrys largest liquor company, said the alco-bev segment could recover faster than other discretionary segments, even as the industry faces both demand and supply challenges due to restrictions.
United Spirits Q4 results: Net profit jumps six-fold to Rs 167 crore
USL said it will not be immune to the volatile environment caused by the onset of the deadly second wave but will remain focused on building the long-term health of its brands supported by data-led insights.