United Spirits Limited has informed the Exchange about General Updates
UNITDSPR · price
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Awaiting price reaction for this filing.
United Spirits Limited received a favorable order from the Customs, Excise & Services Tax Appellate Tribunal (CESTAT), Bangalore, on 2nd March 2026 (order dated 9th June 2025). The Tribunal upheld the company's valuation methodology and held that royalty received from Contract Bottling Units (CBUs) has no connection with the price of food flavours sold to them. As a result, the entire excise duty demand of INR 79.80 crores plus applicable interest, along with a penalty of INR 60.70 crores, has been set aside to NIL. This is a follow-up to the company's earlier filing dated 14th August 2023 regarding the same matter covering FY 1997-2005. The company has stated there is no financial or operational impact as it has received full relief.
Positive for shareholders — a long-pending excise dispute has been fully resolved in the company's favor, eliminating a potential liability of roughly INR 140.5 crores (duty + penalty) plus interest. This removes a significant overhang on the stock and may boost investor confidence.