Diageo India (listed as United Spirits Ltd), a subsidiary of the British liquor giant Diageo, has announced a 88 per cent growth in standalone profit after tax (PAT) of ₹384 crore in the fourth quarter compared with ₹204 crore in the corresponding quarter of FY23. The net PAT margin for Q4FY24 stood at 14.4 per cent (8.2 per cent).

The net sales value (NSV) for Q4FY24 was recorded to be ₹2,666 crore. Overall, USL witnessed an NSV of ₹10,692 crore in FY24, up by 3.06 per cent y-o-y. The company attributes this to premiumisation and “choiceful consumption” with increased brand loyalty.  

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fourth quarter were ₹361 crore, an increase from the previous fiscal Q4’s ₹338 crore, and ₹1,708 crore the previous fiscal year.  

USL’s earnings per share (EPS) stood at ₹5.28 in the March quarter, with the EPS for FY24 being ₹18.04.  

Hina Nagarajan, CEO & Managing Director of Diageo India, commented, “We have ended fiscal year 2023-24 delivering our double-digit growth guidance and returned to mid teen margins amidst challenging external environment. The year witnessed sequentially moderating demand on the back of sustained consumer inflation and post pandemic consumption normalisation.” 

Addressing USL’s premiumisation efforts, she added, “We continue to innovate and renovate to secure future growth. Our most iconic trademark is being renovated and stretched upwards under the new ‘House of McDowell’s’ umbrella to reach new consumers in different sub segments and formats.”

Godawan 100, Diageo’s artisanal whisky, was recently crowned “Single Malt Whisky of the Year” at the London Spirits Competition. Nagarajan also acknowledged that the Royal Challengers Bengaluru Women’s Premier League (WPL) team won the 2nd edition of the WPL in March 2024. The team is owned by the company’s 100 per cent subsidiary, Royal Challengers Sports Private Ltd (RCSPL).

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