India: United Spirits bullish about growth prospects in India

Diageo-controlled United Spirits (USL) is bullish about its growth prospects in India, and expects a double-digit growth in top line, despite the regulatory uncertainties, according to a top company official, the Deccan Herald reported on May 12.

“Three years ago, we set our vision to become the best performing, most trusted and respected consumer goods company in India. To achieve that we set out a medium-term goal to grow top line double-digit and improve organic operating margin to mid-high teens,” USL CEO Anand Kripalu said in a presentation to investors in London.

Kripalu also said that the Supreme Court’s order to ban alcohol sales on national and state highways is unlikely to have a major impact on the company. “This (order) is creating a short-term impact, which is expected to go through to the first half of FY18 since some of the outlets have time till September 2017, to comply. We expect the impact to be mitigated eventually,” Kripalu said.