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Company Information

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UNITED SPIRITS LTD.

07 July 2025 | 02:44

Industry >> Beverages & Distilleries

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ISIN No INE854D01024 BSE Code / NSE Code 532432 / UNITDSPR Book Value (Rs.) 104.94 Face Value 2.00
Bookclosure 01/08/2025 52Week High 1700 EPS 21.75 P/E 63.24
Market Cap. 100047.11 Cr. 52Week Low 1249 P/BV / Div Yield (%) 13.11 / 0.87 Market Lot 1.00
Security Type Other

ACCOUNTING POLICY

You can view the entire text of Accounting Policy of the company for the latest year.
Year End :2024-03 

Company overview

United Spirits Limited ("the Company” or "USL”) is a public company domiciled and headquartered in Bengaluru, Karnataka, India. It is incorporated under the Companies Act, 1956 and its shares are listed on the BSE Limited and National Stock Exchange of India Limited. The Company is engaged in the business of manufacture, purchase and sale of beverage alcohol and other allied spirits, including through tie-up manufacturing units and through strategic franchising of some of its brands.

These standalone financial statements ((or) financial statements) are approved for issue by the Company's Board of Directors on May 24, 2024. Note 1: Basis of preparation of financial statements

(i) Compliance with Ind AS

These financial statements comply in all material aspects with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the 'Act') [Companies (Indian Accounting Standards) Rules, 2015, as amended] and other relevant provisions of the Act.

(ii) Historical cost convention

These financial statements have been prepared on a historical cost basis, except for the following:

• defined benefits plans - plan assets are measured at fair value;

• share-based payments are measured at fair value; and

• investment in mutual funds and investment in compulsorily convertible preference shares of associate are measured at fair value.

All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and other criteria set out in the Schedule III (Division II) to the Act. Based on the nature of products and the time between the acquisition of asset for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as twelve months for the purpose of current / non-current classification of assets and liabilities.

(iii) New and amended standards adopted

The Ministry of Corporate Affairs had vide notification dated March 31, 2023 notified Companies (Indian Accounting Standards) Amendment Rules, 2023 (the "Rules') which amended certain accounting standards, and are effective 1st April 2023.

• Disclosure of accounting policies - amendments to Ind AS 1

• Definition of accounting estimates - amendments to Ind AS 8

• Deferred tax related to assets and liabilities arising from a single transaction - amendments to Ind AS 12. The other amendments to Ind AS notified by these rules are primarily in the nature of clarifications.

These amendments did not have any material impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. Specifically, no changes would be necessary as a consequence of amendments made to Ind AS 12 as the Company's accounting policy already complies with the new mandatory treatment.

The material accounting policy information related to preparation of the Standalone Financial Statements have been disclosed in the respective notes.

Note 2: Critical estimates and judgements

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual result. This note provides an overview of the areas that involved a higher degree of judgement or complexity, and of items which are more likely to be materially adjusted due to estimates and assumptions turning out to be different than those originally assessed. Detailed information about each of these estimates and judgements is included in relevant notes together with information about the basis of calculation for each affected line item in the financial statements.

The areas involving critical estimates and judgements are:

• Estimation of provisions recognized and contingent liabilities disclosed in respect of tax matters- Notes 8, 17, and 42;

• Impairment of trade receivables and other financial assets - Notes 6, 11 and 31A .

Estimates and judgements are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the Company and that are believed to be reasonable under the circumstances.