Some state governments for instanceMaharashtra and Uttar Pradesh offered separate licenses for beer sale further boosting theprospects for the industry. Our competitors too have introduced brands from their internationalportfolio. All the wage agreements have been renewed in a timely manner and are valid andsubsisting. It remains highly regulated with high taxationrestrictions on cross border movements constraints on production retailing and otherbarriers. The Company carries out periodic reviews of comparable companies and throughcommissioned survey ascertains the remuneration level prevailing in these companies. India has all thenecessary infrastructure required for the successful e-commerce and online sale in beer.Your Company is actively supporting the development of these new initiatives. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. Capacity expansion has been done in our breweries in Telangana Karnataka &Rajasthan. Due to constrained domestic capacity duringlast year import sources developed during 2018-19 were used to bridge the gap and coverour peak requirement. For the quarter ended December 2019, UNITED BREWERIES has posted a net profit of Rs 1 bn (down 2.6% YoY). Kindly visit the Manage my subscription page to discover the benefits of this programme. Profit before Taxation for the year stood at Rs.5674 million as compared to Rs.8785million in the previous year reflecting a decrease of 35%. Due to lockdown and COVID situation the timeline may getextended further. Consumer acceptance of our beers hasled to further innovations and new product introductions. "UB Tower",,Level 12, UB City,,No.24, Vittal Mallya Road, No.30, Ramana Residency,4th Cross, Sampige Road, Your feedback matters! What is Intellectual Capital? Make an informed investment decision with advanced AI-based features like SWOT analysis, investment checklist, technical ratings and know how fairly the company is valued. This policy can be viewed on the Company's website atwww.unitedbreweries.com . AllIndependent Directors have given a declaration that they meet the criteria of Independenceand in the opinion of the Board the Independent Directors fulfil the condition ofIndependence as laid down under the Act and Listing Regulations. Your Directors take this opportunity to thank UBL's customers shareholders suppliersbankers business partners and associates financial institutions and central and stategovernments for their consistent support and encouragement to the Company. Track FII, DII and MF trends. As part of this process customizedquestionnaires were circulated to all Directors of the Company. The distribution of beer in India is still largely controlled by the state-orstate-owned corporations resulting in stricter regulations across various states so as tohave better control over prices consumption and excise duty. Overall renewable energy consumption for electricity usage for FY20 stood at 22.6% outof total electrical power consumption for own breweries and 18.4% against total powerconsumption at our own and associate breweries. There is a perennial threat of competition introducing new products in varioussegments. In the last year your Company conducted a week-long awareness programme on"Responsible Consumption of Alcohol" for truck drivers associated with UBL at 3of its breweries in Haryana Odisha and West Bengal. Howeverfor a variety of socio economic and religious reasons India's current per capitaconsumption of beer still hovers around 2 litres which is well below the Global average ofaround 30 litres and Asia average of about 27 litres. In India the beer sector is at its growth stage with competing companies in the marketlooking for further market expansion with introduction of new products and bystrengthening their distribution network. The Company continues sustainable associations for Kingfisher in the fields of sportsmusic food and fashion. TheCompany has not invited any deposits during the year. Chief Financial Officer (Key Managerial Personnel), Mr. Berend Odink has been appointed as Chief Financial Officer of the Company effectiveAugust 15 2019 following transfer of Mr. Steven Bosch to a new assignment by Heineken N.V, Meetings of the Board of Directors and Committees of the Board. Inhis place Mr. Jan Cornelis van der Linden was appointed as an additional Director w.e.f.June 01 2020 and a Resolution for regularisation of his appointment has been proposed forapproval of Members at this Annual General Meeting (AGM). Note : Support and Kingfisher Ultra Kingfisher Ultra Max and Heinekencomplete our brand portfolio in the super-premium segment. Undisclosed assets include shares worth Rs 207 crore of United Breweries Ltd (UBL) held by The Gem Investment and Trading, shares of United Spirits Ltd (USL) and UBL worth Rs 89.68 crore held by Devi Investment Pvt and shares of McDowell, USL and UBL worth Rs 470 crore held by Mallya Pvt Ltd, among others. Mr. Chhaganlal Jain and Mr. Chugh Yoginder Pal Independent Directors retired w.e.f.September 04 2019. Manufacturing facilities of world-class standards Built upon the pillars of safety and hygiene. Still, the company was doomed to fail, and despite the will of investors, it failed to stay viable. Over 50% of its population is below theage of 25 and more than 65% below the age of 35 as per United Nations Department ofEconomic and Social Affairs statistics. Transfer ofthese shares therefore may not constitute a transfer of ownership. The market has been growing mainly because ofyouth higher disposable income rising preference for low alcohol beverage and gradualsocial acceptance. Human Resources (HR) develops UBL's most important asset - our people - by empoweringthem. The Familiarization programme for newIndependent Directors as and when inducted shall aim to familiarize them with the Companytheir roles rights responsibility in the Company market business model of the Companyetc. … The composition of the Audit Committee its terms of reference roles anddetails of Meetings convened and held during the year under review is given in theCorporate Governance Report forming part of this Report. An analysis of stocks based on price performance, financials, the Piotroski score and shareholding. The Remuneration Policy lays down the criteria for appointmentand removal of Directors KMP and Senior Management. The company markets beer under the Kingfisher brand, and owns various other brands of alcoholic beverages. Carlton & United Breweries is an Australian brewing company based in Melbourne.In 1983 it became a wholly owned subsidiary of Elders IXL and CUB was delisted. UNITED BREWERIES Announces Quarterly Results (3QFY20); Net Profit Down 2.6% (Quarterly Result Update) Feb 10, 2020 | Updated on Feb 10, 2020. The programme is ongoing andwill benefit 20000 people through the 2 Safe Drinking Water Hubs that are being installed.In addition to implementing rainwater harvesting and watershed management projects in andaround the breweries recycling of the treated waste water continues within the breweries.The water initiatives have benefitted over 200000 people. 2. UB Export announced its association with leadingKannada film star Rakshit Shetty. The Company is proud ofthe fact that many of the leading rating agencies have recognized its achievements andprogress with excellent ratings and have acknowledged us as one of the future readycompanies. Unlike other emerging economies beer Industry in India continues to remain traditionaland is controlled by State Governments. It is expected that the initial months of thenew financial year will remain very challenging as retail only reopened in many states inIndia during 1st week of May. Kingfisher Ultra announced its association with themulti-talented and leading Bollywood celebrity Farhan Akhtar. Pursuant to the Section 204 of the Act 2013 and Rule 9 of the Companies (Appointmentand Remuneration of Managerial Personnel) Rules 2014 the Company has appointed Mr.Sudhir Hulyalkar Company Secretary to undertake Secretarial Audit of the Company for theFY20. Messrs S. R. Batliboi & Associates LLP Chartered Accountants (Firm RegistrationNo. Performance evaluation of Non-Independent Directors Independent Directors the Boardas a whole and Committees of the Board has been carried out in accordance with thestatutory provisions as contained in the Act and Listing Regulations. Share of local Ring pullCrowns and PSL Labels sourcing increased to optimise cost. Please select atleast one option or provide feedback in the text field. The inputs from our annual employee engagement survey help us in continuously improvingour people practices policies and programs and stay in touch with the expectations of ouremployees. Given such a scenario companies will have to operate differently to effectivelymanage the crisis. 3. The information on conservation of energy technology absorption foreign exchangeearnings and outgo as stipulated under Clause (m) of sub-section (3) of Section 134 ofthe Act read with the Companies (Accounts) Rules 2014 is set out herewith as Annexure-Dto this Report. This shift from conventional torenewable sources of energy has helped us reduce our carbon footprint substantially to thetune of 27907 MT of equivalent CO2 which is equivalent to 1.3 million trees. Learning is ingrained in the UBL culture and employees are constantly encouraged andgiven ample opportunities to upgrade their knowledge and skill. India is the second most populous country in the world with over 1.3 billion peoplei.e. The Accounting Policies are reviewed andupdated from time to time. Your Company is actively making representations tovarious state governments to delink beer taxation from IMFL and encourage taxation on thebasis of alcohol content paving the way for incremental growth in the market. 0 Mukesh Ambani is an Indian business mogul and chairman of 'Reliance Industries Limited\' (RIL). The details of the Familiarization Programme for Independent Directorsis disclosed on the Company's website at the weblink: http://unitedbreweries.com/pdf/policyandcodes/Familiarisation%20Programme.pdf, The Company has adopted vigil mechanism which is a channel for receiving and redressingof complaints about any misconduct actual or suspected fraud actual or potentialviolations of the Company's code of conduct and any other unethical unlawful or improperpractices acts or activities within the Company. None of the Employees & Directors have been denied access to the Chairman of theAudit Committee. Beer companies are reeling under pressure as the lock-down has come at the onset of thesummer which comprises the bulk of sales. based on price range of the previous trading month. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time. The Company has since commenced manufacture of non-alcoholic beveragesat its above facility. The total dividend is Rs.661 million whichamounts to about 12% of the Profit after Tax. The maker of Kingfisher reported a 10.65% drop in net sales in the second quarter at Rs 3099.58 crore. Get all the information on mutual fund schemes and the names of institutions which invested in a company. Home; Intellectual Capital. Instrumenting such technology has resulted in standardized automated processesimproved productivity and enhanced employee experience. United Breweries has net debt worth just 1.1% of its market capitalization. In order to cater to new consumers capture market opportunities compete with newlaunches by competitors and in continuous endeavour to offer new product ranges UBL hasadded to its portfolio via "Kingfisher Ultra Witbier" in the premium segment. Which stock to buy and why? In the alcohol space beer is the most popular drink in India after spirits. Internal Control evaluates adequacy of segregation of duties transparency inauthorization of transactions adequacy of records and documents accountability &safeguarding of assets and reliability of the management information system. CORPORATE SOCIAL RESPONSIBILITY AND SUSTAINABILITY. Note : Support and Resistance level for the Born in 1954 in Bikaner, Rajasthan and is famous investor and Entrepreneur. The Company has formulated a WhistleBlower Policy for Employees & Directors and has ensured adequate safeguards againstvictimization of whistle blowers. The current industry size isestimated to be over 320 million cases per annum. We havepro-actively managed sustainability under our "3R" policy to reduce recycle andrecharge as well as look at opportunities for water conservation through Rain WaterHarvesting to achieve a positive or at least neutral water balance. Shiv Nadar. The Company's association withrestaurants / bars / pubs / clubs/star-hotels / nightclubs continues to thrive. On-trade sale was progressively closed in weeks leading up to March 232020. How much will banks get if they sell Vijay Mallyau2019s shares? A variety of taxes & levies are imposed on beer during and after productionmovement and sale by each state. Such decrease is due tothe reasons mentioned above. represents current trend. Cultivated area under our varietiesof barley increased by 47% in FY20. Maltex Malsters Limited is a non-listed entity and is not a materialnon-listed subsidiary as defined in Regulation 16(1)(c) of the Listing Regulations. Beer market in India has evolved from manufacturing usual beers such as strong andlager to flavored beers owing to the adoption of trends and technologies from westernmarkets. The Board of Directors of UBL currently comprises of eight Directors with a balancedcombination of Executive Non-Executive and Independent Directors. No Data For Substantial Acquisition of Shares & Takeovers. Dec 24 2019 03:12 PM, Britannia, Colgate, ITC, UBL, HUL gain over 6% after cut in corporate tax Heineken has established itself as one of India's most premium brands. Breweries across the country haveadopted neighbouring Government schools and supported them in meeting their requirementson a regular basis. The Indian beer market shrunk during the FY 20. Familiarization is done at the Board Meeting itself where business is discussed atlength along with Industry dynamics Strategic planning and other relevant information.Presentations are regularly made to the Board of Directors /Audit Committee / Nomination& Remuneration Committee on various related matters where Directors get anopportunity to interact with Senior Managers. Your Company's Equity Shares are listed on the BSE Limited and National Stock Exchangeof India Limited. United Breweries Stock Price Analysis and Quick Research Report. In order to maintain confidentiality of the entire process the exercise was carriedout on an anonymous basis and summary of responses received from Directors was placed anddiscussed at a Board Meeting and individual scores circulated to the Director concerned.Discussions on a one-to-one basis with individual Directors were also organized for thoseDirectors who wanted a more in-depth understanding. Kingfisher Ultra Max with arobust 23% growth has crossed 1 million cases in sale in 2019-20. • Our brewery at Palakkad received "Safety" award from Kerala StateDepartment of Factories & Boilers under Large Factories - Food and Food ProductCategory. As per our estimate a number ofmarkets across the country remained sluggish during the second half of last FinancialYear. Sales on the other hand came in at Rs 33 bn (up 2.0% YoY). Most Read. Who is raising the stake and who is exiting? London Pilsner announced its association withlegendary English cricketer Ben Stokes. Throughits large portfolio of brands the Company has creatively worked on digital and televisioncommunication around its various associations. Recycled bottle collection continues toremain a key focus area. The company said its accumulated losses as on March 31, 2015 at Rs 5,045.45 crore is greater than 50 percent of the peak net worth in the immediately preceding four financial years at Rs 5,849.62 crore. Long Term Can Contractsexecuted with lower conversion cost & Aluminium prices to maximise benefits. Business Standard News: Check out United Breweries Financial Results, Quarterly Results (Q1, Q2, Q3, Q4) & Yearly Results & more financial news from Business Standard | Page 1 3. This largest-selling beer in India, commands a significant market share* in the country with an alternate bottle of beer sold in India being a Kingfisher brand. But for the COVID pandemic there has been a steady growth of beer consumption inIndia. Industry volumes grew. Additionally the effectiveness of the Board andCommittees was also evaluated by each Member of the Board and Committee. The dividend declared for the previous year was Rs.2.50/- per Equity Share of Re.1/- each. The rising number of pubs and bars another factorwhich increased beer consumption in metropolitan cities increased the range of productavailability and improved the retail environment. Consumers today expect more from theirbeers-in-terms of flavour taste and experience. The State Government of Bihar has challenged theJudgement of Patna High Court in Supreme Court which is pending. United Breweries share price gains 6% on potential Heineken offer, Britannia, Colgate, ITC, UBL, HUL gain over 6% after cut in corporate tax, UBHL pleads with Karnataka High Court not to wind up company, USL, GM Breweries, Pincon Spirit fall 5-6% after Karnataka govt raises excise duty on liquor. Read research reports, investor presentations, listen to earnings call and get recommendations from the best minds to maximise your gains. Kingfisher Premium with over 35 million cases is the first choice of mildbeer consumers across the country. UBL has constituted an Internal Complaints Committee (ICC) at its Corporate /Registered Office and at all its breweries / Regional Offices to consider and deal withall reported sexual harassment complaints. We procured highest ever quantities of ourown varieties of "two row barley" in FY20. Appeal filed by UBHL against the said winding up order was dismissed by theHon'ble Karnataka High Court on March 06 2020. Approval of the Audit Committee and the Board of Directors as required underthe Listing Regulations has been obtained for such transactions. These in turn are supported by a set of Standard OperatingProcedures (SOPs) that have been established for the business. Note : Support and Resistance level for the Amstel is a slow brewedand extra matured lager internationally appreciated for its quality and enjoyed in over110 countries across the globe. In the last quarter of 2018 the Company entered the 'Non-Alcoholic Beverages' segmentby launching Kingfisher Radler a non-alcoholic drink with 0% alcohol. COVID in India where industry slowed down and effectively stopped functioning duringthe last 10 days. UBL was one of the 3finalists at the Rotary Karnataka CSR Awards-2020 nominated for the Nandi Lakerejuvenation project. It is expected that the demand forpremium beer will continue to rise in the future with an increase in personal disposableincome and higher living standards. Manufacturing expenses for the FY20 amounted to Rs. Generally high-end consumer pricesdampened sales during the year. (v) Pursuant to enquiry initiated by Competition Commission of India ("CCI")on October 10 2018 in relation to allegations of price-fixation and cartelisation theoffice of the Director General Competition Commission of India had completed itsinvestigation in November 2019 and had filed its investigation report (DG Report) with theCCI. UBL's Research and Development function continues to support its growth strategy with afocus on new capabilities development of new products enhancement of existing productsproductivity improvement and cost reduction. Also aquestionnaire for Committees is framed on parameters such as adherence to the terms ofreference and adequate reporting to the Board. 0 Azim Premji, Indian business … Bengaluru: United Breweries Ltd on Wednesday reported net profit decline of 39.35% at Rs 41.19 crore for the quarter ended March, mainly due to Covid-19 led disruption intensified by overall consumption slowdown, policy changes in Andhra Pradesh and input cost increase. … Beer has become one of the most popular alcoholic beverages in thecountry over the past two decades. UBL firmly believes in creating social value through its business. The regulator said that funds for United Spirits Limited were diverted to other United Breweries companies, including Kingfisher Airlines. Steenbergen a Non-Executive Non-Independent Directorretires by rotation at this AGM fund schemes and the Board the communities Supreme. Also curated to build thetalent and leadership pipeline to enhance organisational capability to and... 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