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As on Feb 27, 2021 12:00 AM Your results on : Hot Pursuit    
ICRA reaffirms USL's credit ratings
27-Feb-2021 (16:25)

ICRA has also reaffirmed the ratings of the company's commercial paper worth Rs 500 crore at '[ICRA]A1+'.

The credit ratings agency said that the ratings continue to factor in USL's strong operational and financial flexibility and robust corporate governance and compliance practices by virtue of being a 55.94% subsidiary of Diageo Plc (Diageo; rated A3 / Stable by Moody's).

USL continues to benefit from the business synergies through implementation of Diageo's global best practices across business functions which has complemented its large scale of operations.

The ratings also consider USL's strong market position in the domestic spirits industry supported by its large distribution network, wide product portfolio and presence across price points, flavours and segments.

USL manufactures and distributes a variety of alcohols and spirits, including whiskey, brandy and rum. The company also manufactures Indian-made foreign liquor brands.

The liquor maker's consolidated net profit jumped 20.8% to Rs 280.30 crore on 3.3% fall in net sales to Rs 2,673 crore in Q3 December 2020 over Q3 December 2019.

The scrip fell 1.84% to Rs 534.50 on Friday.

DCB Bank says ICRA reaffirms ratings
27-Feb-2021 (15:32)
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US stocks end mixed on Friday
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NLC India raises Rs 300 cr through commercial paper
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IOCL to invest Rs 32,946 cr to expand capacity of Panipat refinery
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Volumes spurt at KSB Ltd counter
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Auto stocks edge lower
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Financials shares slide
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Natco Pharma launches epilepsy treatment drug in India
26-Feb-2021 (13:03)
Steel Authority of India Ltd up for five straight sessions
26-Feb-2021 (13:00)
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