Stockrabit · Analysts
Questions across 3 calls

Ashutosh Jain

Barclays

United Spirits Limited

United Spirits Limited CC-Jan26.pdf · 2026-01-21
Hello, team. Thank you for taking my question. So I have 2 questions. First would be, you historically stated that your P&A growth algo is double -digit top line with like 4% to 5% volume/mix and 6% to 8% price/mix. Does this include the UK FTA impact, which will come from, say, Q1 '27 onwards? Or is it independent of the UK FTA impact?
Okay. So my -- so am I reading it correctly, like the current guidance, which is for P&A, double-digit top line, this kind of excludes FTA and anything which -- incremental benefit which comes from U.K. FTA will be on top of that?

United Breweries Limited

United Breweries Limited CC-Jun25.pdf · 2025-07-23
Hello Jorn and Vivek. Thanks for taking my question. Two from me, please. If my understanding is correct, the recent personal income tax benefits of no income tax approvement, lack of income is broadly aimed at your core consumer segment. Given that these effects came -- were effective from April 1, could you share your best estimate of how much of the recent volume growth, if any, can be attributed to this?
Thank you so much. It would be good if we can always have a follow back on this. I was also very surprised because we haven't heard many commentaries from the companies. I guess Unilever was only one of the few apart from I guess Dabur to mention this. So just a passing thought like, is it because the impact of the consumption is not that meaningful, which I guess you will still figure it out? Or is it just like companies like you are just being cautious to avoid fueling overly optimistic expectations of the Street?