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| 27 November, 2020, 08:31 PM IST | E-Paper
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    Liquor

    Diageo targets net zero carbon emissions across direct India operations by 2025

    Under its global 'Decade of Action' to help achieve the United Nations Sustainable Development Goals, Diageo, the maker of popular brands like Johnnie Walker, Smirnoff and Guinness, said it will ensure 100 per cent use of recycled content in plastic packaging in India by 2030.

    CIABC: Liquor sales decline 29% in the first half of the current fiscal

    According to the data compiled by the national body that represents leading liquor firms, the drop in sales was much higher in states that imposed Covid-led taxes

    Lockdowns, ban on sale, corona tax led to liquor sales falling 29%: CIABC

    “The situation has been worse in states like Andhra Pradesh, Chhattisgarh, West Bengal and Rajasthan where sales have seen a steep decline due to high corona tax on liquor. The all-India sales volume growth for IMFL for the first half of the year 2020-21 was down by 29%,” CIABC said.

    Off-trade delivered an above par performance: United Spirits MD Anand Kripalu

    For the maker of Johnnie Walker and Vat 69, on-trade, which essentially covers restaurants and bars, account for about 25% of their sales. The company, however, has seen a demand pick-up in at-home for its products compared to beer, which are bulkier to carry and people concerned about covid from drinking chilled beer.

    Delhi government looks at ways of boosting excise revenues, seeks suggestions

    The Delhi government is also working on a new excise policy for which NRAI had provided suggestions in October. NRAI’s suggestions included reducing the drinking age limit of 25 years in Delhi- which is the highest in the country- to 21 years for hard liquor and 18 years for beer/wine.

    Pernod Ricard grew 6 per cent in India during FY19-20

    The maker of Absolut vodka and Chivas Regal scotch had gross sales of Rs21424 crore crore in the year-to-March 2020, according to the latest filing sourced from Altinfo, a data insights firm. The French liquor firm's net profit at Rs 1612 crore was more than double that of its larger rival, United Spirits, which had profit of Rs 705 crore during the year.

    Andhra Pradesh government slashes liquor prices, cites increase in smuggling

    The rate cut, which the government called rationalisation, was aimed at curbing inter-border smuggling of liquor from neighbouring states that has become rampant in recent days.

    Indian environment, highly uncertain and volatile: Carlsberg CEO Cees't Hart

    The world's third-biggest brewer said its Indian business at off-trade or retail channel fell 40% in the quarter ended September. Also, many restaurants, bars and pubs that account for nearly a third of beer sales, have either shut or opened last month.

    Supreme Court junks UBHL plea against HC order to wind up Vijay Mallya's firm

    The total dues of UBHL to its creditors, as per the Karnataka High Court order in February 2018, are around Rs 7,000 crore. On September 30, the United Breweries Holdings Ltd had told the Supreme Court that it had offered over Rs 14,000 crore to various banks to settle its dues and that the company's assets exceeded its total debt.

    With festival season round the corner, liquor companies are betting on premium products

    United Spirits Limited, Radico Khaitan, Brown-Forman, William Grant & Sons and Amrut Distilleries have all said premium brands will drive the festive quarter where they see at-home consumption in small gatherings replacing holidaying and large parties during Dusshera and Diwali due to the pandemic.

    Alcobev e-commerce remains a non-starter; steep delivery fees, lack of clear guidelines hurdles

    Alcobev e-commerce remains a non-starter; steep delivery fees, lack of clear guidelines hurdles

    A senior executive with a beer manufacturer said the online model comes with loopholes and liquor being a state subject has created ambiguity. “There is no uniformity in policy guidelines creating much ambiguity for consumers

    United Breweries may be among the biggest beneficiaries as bars slowly reopen across the country

    United Breweries may be among the biggest beneficiaries as bars slowly reopen across the country

    The UBBL stock has declined 23% in the last one year and 15% in the past two years with steep taxes by states, increase in input prices in FY20 followed by the Covid-19-led disruption. The stock is currently trading at a PE of 42 times its FY22 estimated earnings compared to its five year average of 69.5.

    Goa’s Latambarcem Brewers launches bottled craft beer to cash in on the maturing bespoke beer market

    Goa’s Latambarcem Brewers launches bottled craft beer to cash in on the maturing bespoke beer market

    “India is fast becoming a mature market even for craft beer with many breweries experimenting with producing quality beer. The time is just right to start looking at producing craft beer in a commercial capacity because the demand is set to only increase from here,” said Aditya Ishan Varshnei, co-founder of Latambarcem Brewers.

    Liquor body CIABC urges centre to not reduce customs duty on imports

    Liquor body CIABC urges centre to not reduce customs duty on imports

    The body, that represents leading liquor firms, has submitted a representation which states that any reduction in BCD must be gradual to provide protection to Indian liquor companies which are already reeling from Covid-19 led disruption.

    Any import duty cut on alcoholic beverages must be gradual: Industry body

    Any import duty cut on alcoholic beverages must be gradual: Industry body

    Stressing that the Indian alcoholic industry was not against reduction in BCD, CIABC Director General Vinod Giri said that the industry is urging the government to ensure a level-playing field.

    Ab InBev, IHCL opens their first microbrewery, 7Rivers, in Bengaluru

    Ab InBev, IHCL opens their first microbrewery, 7Rivers, in Bengaluru

    The microbrewery was in the making since the fourth quarter of last fiscal and original plan was to launch it in peak summer season which overlapped with the nationwide lockdown. Now, the world’s biggest brewer and country’s largest hospitality chain are banking on this pre-pandemic project to revive sales as both sectors have been hit hard amid travel curbs and negligible socializing.

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