United Spirits Limited has informed the Exchange about Agreements
UNITDSPR · price
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United Spirits (USL) has an existing bulk scotch supply agreement with Diageo Scotland Limited (DSL), a fellow Diageo group company. DSL discovered unintended omissions in its costing and invoicing process that caused a shortfall in the price charged for certain bulk scotch supplies made between October 2019 and end of July 2025. USL will voluntarily pay the resulting additional customs duty (up to ₹95 crore) and interest (up to ₹30 crore), totalling not more than ₹125 crore, and self-disclosed the matter to customs authorities. Under a new letter agreement, DSL will fully reimburse USL for this ₹125 crore payment plus related costs of up to ₹20 crore, ensuring zero net financial impact on USL. The arrangement has been approved by the Audit Committee and Board as an arm's length related party transaction.
No material financial impact on shareholders since the entire customs payment plus associated costs will be reimbursed by DSL. The voluntary self-disclosure and swift reimbursement are positive governance signals, though the long-standing (nearly 6-year) invoicing lapse from a related party supplier may draw scrutiny on internal controls.