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United Spirits Q4 results: United Spirits Q4 results: Net profit jumps six-fold to Rs 167 crore

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May 21, 2021

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Bengaluru: (USL) on Friday posted a six-fold increase in fiscal fourth-quarter net profit from a year earlier when the country’s largest liquor company had incurred a high tax expense.

The company controlled by UK-based spirits and beer maker Diageo Plc posted a net profit of Rs 167.3 crore for the quarter through March.

Net sales rose 11.6% from a year earlier to Rs 2,224 crore, driven by continued momentum in demand at retail outlets, partly offset by contraction of its owned business in Andhra Pradesh and softer footfall in the on-trade channel such as bars and restaurants.

Net sales in its Prestige and Above segment – which has mid-segment and premium brands such as ’s No 1, Royal Challenge, Johnnie Walker and Vat 69 – grew 25.8%, backed by strong demand for its Scotch portfolio, the company said.

Net sales in the Popular segment – which has mass-market brands such as Haywards, Bagpiper and White Mischief — fell 3.1%, hurt by a decline of 4.3% in priority states. West Bengal sales saw a steep decline due to high taxes imposed.

“Top-line growth momentum returned, and our in-quarter performance was strong on both top line and Ebitda aided by the weak comparatives. Net revenue management, stable commodity prices (and) efficiencies from our productivity programme enabled us to deliver a healthy Ebitda margin of 18.5% in the fourth quarter,” Anand Kripalu, CEO of Diageo India, said in a filing to the BSE.

“Despite a challenging start to FY21 in the first quarter, our business withstood the disruption and showed progressive improvement thereafter with every passing quarter. Debt at the end of this fiscal stood reduced to Rs 556 crore, a reduction of Rs 1,517 crore from last fiscal end,” he added.

USL said it would not be immune to the volatile environment caused by the onset of the deadly second wave, but would remain focused on building the long-term health of its brands supported by data-led insights.

The company announced the quarter results after the market closed. Its stock closed almost flat at Rs 572 on the BSE Friday.

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The above news was originally posted on economictimes.indiatimes.com

United Spirits Q4 results: United Spirits Q4 results: Net profit jumps six-fold to Rs 167 crore

By

-

May 21, 2021

[ad_1]

Bengaluru: (USL) on Friday posted a six-fold increase in fiscal fourth-quarter net profit from a year earlier when the country’s largest liquor company had incurred a high tax expense.

The company controlled by UK-based spirits and beer maker Diageo Plc posted a net profit of Rs 167.3 crore for the quarter through March.

Net sales rose 11.6% from a year earlier to Rs 2,224 crore, driven by continued momentum in demand at retail outlets, partly offset by contraction of its owned business in Andhra Pradesh and softer footfall in the on-trade channel such as bars and restaurants.

Net sales in its Prestige and Above segment – which has mid-segment and premium brands such as ’s No 1, Royal Challenge, Johnnie Walker and Vat 69 – grew 25.8%, backed by strong demand for its Scotch portfolio, the company said.

Net sales in the Popular segment – which has mass-market brands such as Haywards, Bagpiper and White Mischief — fell 3.1%, hurt by a decline of 4.3% in priority states. West Bengal sales saw a steep decline due to high taxes imposed.

“Top-line growth momentum returned, and our in-quarter performance was strong on both top line and Ebitda aided by the weak comparatives. Net revenue management, stable commodity prices (and) efficiencies from our productivity programme enabled us to deliver a healthy Ebitda margin of 18.5% in the fourth quarter,” Anand Kripalu, CEO of Diageo India, said in a filing to the BSE.

“Despite a challenging start to FY21 in the first quarter, our business withstood the disruption and showed progressive improvement thereafter with every passing quarter. Debt at the end of this fiscal stood reduced to Rs 556 crore, a reduction of Rs 1,517 crore from last fiscal end,” he added.

USL said it would not be immune to the volatile environment caused by the onset of the deadly second wave, but would remain focused on building the long-term health of its brands supported by data-led insights.

The company announced the quarter results after the market closed. Its stock closed almost flat at Rs 572 on the BSE Friday.

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The above news was originally posted on economictimes.indiatimes.com

BCPL Railway-led subsidiary secures provisional Stage-I clearance for ethanol production from Bihar govt

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May 20, 2021

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Railway Station

BCPL Railway Infrastructure Limited has updated its esteemed stakeholders that the Company’s proposed subsidiary ‘BCL BIO ENERGY PRIVATE LIMITED’ has been granted Provisional Stage-I clearance for production of Ethanol from grains like Maize, Rice for blending with petrol, as per the Bihar Industrial Investment Promotion Rules 2016 by the Government of Bihar, Department of Industries, Secretariat of State Investment Promotion Board.

This is the first stage clearance and this enables the said subsidiary company to apply for other clearances as required under the Bihar Industrial Investment Promotion Rules 2016.

Commenting on the same, Aparesh Nandi, Chairman said, “We at BCPL Railway Infrastructure Limited are pleased to inform our stakeholders that our proposed subsidiary company ‘BCL Bio Energy Private Limited’ has started its journey and has been granted the Stage – I clearance by the Government of Bihar, Department of Industries, Secretariat of State Investment Promotion Board.

We are hopeful that the other clearances as required under the Bihar Industrial Investment Promotion Rules 2016 will be granted to us by the concerned department very shortly. The project involves the production of Ethanol from grains like maize, rice etc at Purnia, Bihar or any other suitable place. It would be operational in around 14 months and its commercial production is expected to be reflected in the accounts of FY23 onwards.”

At around 11:34 AM, BCPL Railway was trading at Rs54 per piece down by Rs0.75 or 1.37% on Sensex.

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The above news was originally posted on www.indiainfoline.com

BCPL Railway-led subsidiary secures provisional Stage-I clearance for ethanol production from Bihar govt

By

-

May 20, 2021

[ad_1]

Railway Station

BCPL Railway Infrastructure Limited has updated its esteemed stakeholders that the Company’s proposed subsidiary ‘BCL BIO ENERGY PRIVATE LIMITED’ has been granted Provisional Stage-I clearance for production of Ethanol from grains like Maize, Rice for blending with petrol, as per the Bihar Industrial Investment Promotion Rules 2016 by the Government of Bihar, Department of Industries, Secretariat of State Investment Promotion Board.

This is the first stage clearance and this enables the said subsidiary company to apply for other clearances as required under the Bihar Industrial Investment Promotion Rules 2016.

Commenting on the same, Aparesh Nandi, Chairman said, “We at BCPL Railway Infrastructure Limited are pleased to inform our stakeholders that our proposed subsidiary company ‘BCL Bio Energy Private Limited’ has started its journey and has been granted the Stage – I clearance by the Government of Bihar, Department of Industries, Secretariat of State Investment Promotion Board.

We are hopeful that the other clearances as required under the Bihar Industrial Investment Promotion Rules 2016 will be granted to us by the concerned department very shortly. The project involves the production of Ethanol from grains like maize, rice etc at Purnia, Bihar or any other suitable place. It would be operational in around 14 months and its commercial production is expected to be reflected in the accounts of FY23 onwards.”

At around 11:34 AM, BCPL Railway was trading at Rs54 per piece down by Rs0.75 or 1.37% on Sensex.

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The above news was originally posted on www.indiainfoline.com

Sugar mills get orders to supply 302 cr litres of ethanol

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May 3, 2021

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Sugar mills across the country have contracted orders to supply 302.3 crore litres of ethanol to oil marketing companies (OMCs). This is 70 per cent more than the 178 crore litres supplied in the previous season.

This will help mills to reduce sugar production by 20 lakh tonnes (lt) due to the diversion of sugarcane juice and B-heavy molasses for ethanol production in this current sugar season.

According to the Indian Sugar Mills Association (ISMA), 117.72 crore litres of ethanol have already been delivered for the country’s ethanol blending programme. Nearly 77 per cent of this quantity was produced from sugarcane juice and B-heavy molasses. India’s ethanol marketing season extends from December to November next year.

“Last year, we were able to reduce 7-8 lt of sugar due to ethanol production. And this year it would be around 20 lt by the end of the season. Ethanol helps reduce the production of surplus sugar; besides it gives better returns,” said ISMA Director-General Abinash Verma. Moreover, ethanol is sold almost immediately unlike sugar which takes several months to sell.

He said sugar companies have been increasing ethanol production every year except last year when sugar production declined. This was on account of drought in Maharashtra and northern Karnataka. In 2018-19, ethanol production was 190 crore litres.

Troubles with the OMCs

The current season’s contracted production of 302.53 crore litres is good enough for a national blending target of 7.36 per cent, but as many as 11 States (which are either sugar-producing States or their neighbouring States) such as Uttar Pradesh, Maharashtra, Karnataka, Uttarakhand, Bihar, Haryana, Punjab, Delhi, Goa, Gujarat and Himachal Pradesh managed a higher ethanol blending percentage of close to 10 per cent.

The problem, however, is relating to offtake, said Verma. “Oil companies are still not geared up as much as we wanted them to be. If we have to move ethanol from Uttar Pradesh to Kerala or from Maharashtra to Rajasthan, it is a criss-cross. The planning by oil companies is very poor. Besides, the transport rate they give us is much lower than what we actually incur ,” the ISMA DG said.

He said the sugar industry has been telling OMCs to pay the full transport cost. If not, take it from the mill sites. Or they should set up their own transport agencies. “They have to come on board and the government has to intervene to ensure these transport rates are rationalised,” Verma said.

Higher production

Meanwhile, sugar mills in the country produced 299.15 lt of sugar till April 30 — which is 41lt more than the 258.09 lt produced in the corresponding period last year. While mills in Maharashtra produced 105.63 ltcompared to 60.95 lt in the same period last season, sugar production by Uttar Pradesh mills was 105.62 lt, which was 10.9 lt lower than that in the same period last year. Karnataka, where all 66 mills stopped crushing already, produced 41.67 lt (34.94 lt). As compared to 112 mills last year, only 106 mills continued crushing beyond April 30 this year.

Sugar mills have so far won contracts for exporting 54-55 lt in the current season, according to market reports. This is more than 90 per cent of the sugar export quota fixed by the government. While 25.24 lt of sugar was exported between January and March, around 10 lt was expected in April. Similarly, as per market estimates, another 8-10 lt sugar would be exported in May as well.

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The above news was originally posted on www.thehindubusinessline.com

Sugar mills get orders to supply 302 cr litres of ethanol

By

-

May 3, 2021

[ad_1]

Sugar mills across the country have contracted orders to supply 302.3 crore litres of ethanol to oil marketing companies (OMCs). This is 70 per cent more than the 178 crore litres supplied in the previous season.

This will help mills to reduce sugar production by 20 lakh tonnes (lt) due to the diversion of sugarcane juice and B-heavy molasses for ethanol production in this current sugar season.

According to the Indian Sugar Mills Association (ISMA), 117.72 crore litres of ethanol have already been delivered for the country’s ethanol blending programme. Nearly 77 per cent of this quantity was produced from sugarcane juice and B-heavy molasses. India’s ethanol marketing season extends from December to November next year.

“Last year, we were able to reduce 7-8 lt of sugar due to ethanol production. And this year it would be around 20 lt by the end of the season. Ethanol helps reduce the production of surplus sugar; besides it gives better returns,” said ISMA Director-General Abinash Verma. Moreover, ethanol is sold almost immediately unlike sugar which takes several months to sell.

He said sugar companies have been increasing ethanol production every year except last year when sugar production declined. This was on account of drought in Maharashtra and northern Karnataka. In 2018-19, ethanol production was 190 crore litres.

Troubles with the OMCs

The current season’s contracted production of 302.53 crore litres is good enough for a national blending target of 7.36 per cent, but as many as 11 States (which are either sugar-producing States or their neighbouring States) such as Uttar Pradesh, Maharashtra, Karnataka, Uttarakhand, Bihar, Haryana, Punjab, Delhi, Goa, Gujarat and Himachal Pradesh managed a higher ethanol blending percentage of close to 10 per cent.

The problem, however, is relating to offtake, said Verma. “Oil companies are still not geared up as much as we wanted them to be. If we have to move ethanol from Uttar Pradesh to Kerala or from Maharashtra to Rajasthan, it is a criss-cross. The planning by oil companies is very poor. Besides, the transport rate they give us is much lower than what we actually incur ,” the ISMA DG said.

He said the sugar industry has been telling OMCs to pay the full transport cost. If not, take it from the mill sites. Or they should set up their own transport agencies. “They have to come on board and the government has to intervene to ensure these transport rates are rationalised,” Verma said.

Higher production

Meanwhile, sugar mills in the country produced 299.15 lt of sugar till April 30 — which is 41lt more than the 258.09 lt produced in the corresponding period last year. While mills in Maharashtra produced 105.63 ltcompared to 60.95 lt in the same period last season, sugar production by Uttar Pradesh mills was 105.62 lt, which was 10.9 lt lower than that in the same period last year. Karnataka, where all 66 mills stopped crushing already, produced 41.67 lt (34.94 lt). As compared to 112 mills last year, only 106 mills continued crushing beyond April 30 this year.

Sugar mills have so far won contracts for exporting 54-55 lt in the current season, according to market reports. This is more than 90 per cent of the sugar export quota fixed by the government. While 25.24 lt of sugar was exported between January and March, around 10 lt was expected in April. Similarly, as per market estimates, another 8-10 lt sugar would be exported in May as well.

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The above news was originally posted on www.thehindubusinessline.com

FNB News – Fruzzante sparkling alcoholic beverage reaches Goan shores in 5 variants

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April 27, 2021

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Fruzzanté, a one-of-its-kind sparkling alcoholic beverage, is now available in Goa. The company recently launched all its five variants namely Pineapple, Mango, Chikoo, Starfruit and Strawberry, with a tasting event at the Grand Hyatt, Goa.

The products can be brought from retail stores in Goa and also some dine in places. The beverage is distributed by Russ Enterprises in Goa. Russell Marshon, owner, Russ Enterprises, is very positive about the brand and asserts, “The new generation consumer gives importance to the aspects of authenticity, novelty and reliability while making consumption decisions and I believe that’s exactly what Fruzzanté as a brand stands for. Fruit wine is here to stay. It was an absolute no brainer for me whether or not to bring Fruzzanté into the Goa market because it was a concept I genuinely believed in and I’m happy to play a part in the success I’m sure it will be. More so, it will be a refreshing tropical treat to tourists who flock to Goa year round as beach and Fruzzanté just sync in perfectly.”

The impact of Covid-19 on the domestic food and beverage industry was lesser due to the unique positioning of Indian market. The Indian millennials are an exciting audience for the industry due to their increasingly aspirational lifestyle, disposable incomes and exposure to global brands and trends. After an initial challenge, the company has been witnessing good traction for its products including an increase in sales numbers. The Goa launch is part of their growth and expansion strategy as well.

Speaking about this, Priyanka Save, founder & managing director,Hill Zill Wines, said, “#goagetsfruzzanté! We are now available in the favourite tourist destination, Goa. It is both an exciting and humbling time for us since we have managed to maintain a steady growth during the pandemic as well. Customers can now enjoy our sparkling alco-bev in all the five variants. Our aim is to make Fruzzanté products available in at least half of India by end 2021.”

The drink is made completely from fresh fruits. It is a gluten-free, vegan drink with no added colour or flavour. The brand is focussing on creating drinks for people who wish to enjoy good experiential drinking. A major USP is that it is a ready to drink product in a 330ml pint packaging which can be enjoyed anytime, anywhere, mixed or straight up.

“Goa is the showcase for products in India, especially in the alco-bev space. We have entered Goa with the ambition to enter Karnataka, West Bengal, Puducherry, Uttarakhand, Punjab, Himachal Pradesh, Meghalaya, Assam, Arunachal Pradesh and Telangana by end of 2021,”quotes Deepak Bhatnagar, CEO, Hill Zill Wines.

The brand envisages helping the local farmers across Maharashtra by sourcing directly from them and ensuring that they get paid their dues. It is also set to expand its product range and add variants like orange. Within the next 5 years, their aim is to be available in all major metros and start exporting too.

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The above news was originally posted on www.fnbnews.com

FNB News – Fruzzante sparkling alcoholic beverage reaches Goan shores in 5 variants

By

-

April 27, 2021

[ad_1]

Fruzzanté, a one-of-its-kind sparkling alcoholic beverage, is now available in Goa. The company recently launched all its five variants namely Pineapple, Mango, Chikoo, Starfruit and Strawberry, with a tasting event at the Grand Hyatt, Goa.

The products can be brought from retail stores in Goa and also some dine in places. The beverage is distributed by Russ Enterprises in Goa. Russell Marshon, owner, Russ Enterprises, is very positive about the brand and asserts, “The new generation consumer gives importance to the aspects of authenticity, novelty and reliability while making consumption decisions and I believe that’s exactly what Fruzzanté as a brand stands for. Fruit wine is here to stay. It was an absolute no brainer for me whether or not to bring Fruzzanté into the Goa market because it was a concept I genuinely believed in and I’m happy to play a part in the success I’m sure it will be. More so, it will be a refreshing tropical treat to tourists who flock to Goa year round as beach and Fruzzanté just sync in perfectly.”

The impact of Covid-19 on the domestic food and beverage industry was lesser due to the unique positioning of Indian market. The Indian millennials are an exciting audience for the industry due to their increasingly aspirational lifestyle, disposable incomes and exposure to global brands and trends. After an initial challenge, the company has been witnessing good traction for its products including an increase in sales numbers. The Goa launch is part of their growth and expansion strategy as well.

Speaking about this, Priyanka Save, founder & managing director,Hill Zill Wines, said, “#goagetsfruzzanté! We are now available in the favourite tourist destination, Goa. It is both an exciting and humbling time for us since we have managed to maintain a steady growth during the pandemic as well. Customers can now enjoy our sparkling alco-bev in all the five variants. Our aim is to make Fruzzanté products available in at least half of India by end 2021.”

The drink is made completely from fresh fruits. It is a gluten-free, vegan drink with no added colour or flavour. The brand is focussing on creating drinks for people who wish to enjoy good experiential drinking. A major USP is that it is a ready to drink product in a 330ml pint packaging which can be enjoyed anytime, anywhere, mixed or straight up.

“Goa is the showcase for products in India, especially in the alco-bev space. We have entered Goa with the ambition to enter Karnataka, West Bengal, Puducherry, Uttarakhand, Punjab, Himachal Pradesh, Meghalaya, Assam, Arunachal Pradesh and Telangana by end of 2021,”quotes Deepak Bhatnagar, CEO, Hill Zill Wines.

The brand envisages helping the local farmers across Maharashtra by sourcing directly from them and ensuring that they get paid their dues. It is also set to expand its product range and add variants like orange. Within the next 5 years, their aim is to be available in all major metros and start exporting too.

[ad_2]

The above news was originally posted on www.fnbnews.com

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