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. 3) Confederation of Indian Industry (CII) Environment Health and Safety (EHS)Excellence Awards: Our breweries at Palakkad and Srikakulam received "EHS Excellence"award from CII. Majority of beer market growth is drivenby young consumers who consider beer a trendy drink compared to traditional spirits. Resistance level for the month, calculated based on price range of the The Company has not offeredany stock options to the employees during the year under review. UBL has adopted Green Energy usage to reduce dependence on conventional electricalpower. The Authorized Share Capital of the Company stands at Rs.9990 million comprisingEquity Share Capital of Rs.4130 million and Preference Share Capital of Rs.5860 million.The Issued Subscribed and Paid-up Equity Share Capital of the Company as on March 312020remains unchanged at Rs.264.4 million comprising 264405149 Equity Shares of Re.1/-each. Shiv Nadar. The CCI had permitted UBLand other parties to the enquiry to file their comments/objections to the DG Report byMarch 18 2020 and appear for an oral hearing in the matter on March 25 2020.Subsequently the timeline for filing the comments/objections to the DG Report wasextended till July 17 2020. Who is raising the stake and who is exiting? Heineken has established itself as one of India's most premium brands. India Business News: Vijay Mallya-led UB Group, whose aviation entity Kingfisher Airlines is passing through turbulent times, spent Rs 400 crore more on its staff across v 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. Demand is likely to only gradually recover and is negativelyimpacted due to increased taxation and other impediments. We have built infrastructure which helps inreduction of water consumption in breweries as a sustainability initiative. The Company operates out of a large number of locations across the country that arecharacterized by non-uniformity in levels of awareness socio-economic developmenteducation poverty practices and rituals. 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. On-the-job training is theprincipal source of learning. Kingfisher Strong is the largest brand in the country with a volume of over 107million cases. Intellectual Capital Reporting; Intellectual Investing Insights; Intellectual Capital News; Tools. Controls in place are routinely evaluated and audited by the Internal andStatutory Auditors and gaps are identified by the Auditors through a detailed testingexercise. Further the Recovery Officer-I DRT-II Bengaluru has transferred 7404932 EquityShares comprising 2.80% of the total paid-up Equity Share capital of the Company in itsname from the demat account of UBHL which is under liquidation. The Kingfisher Calendar continues to maintain its high aspirational value. The Secretarial Audit Report forms part of this Report and is annexed as Annexure-E. A Cash Flow Statement for the year ended March 31 2020 is appended. What is Intellectual Capital? Our first offering in speciality beer segment widens our footprint and provides anotherbeverage option in the beer category. Sheer size of India's population itself is a hugeopportunity which will be continuously tapped for future growth. -Vijay Mallya-led leading brewer United Breweries Ltd (UBL) has created a new designation of joint president in the company. The Companyis moving towards extensive usage of energy generated from renewable sources to minimizeenvironmental impact. Attitude towards alcohol consumption is evolving particularly amongst youth workingwomen and other urban population who are gaining an appetite for beer as social drinkinghas become a more adaptable lifestyle in metros and tier two cities. The current industry size isestimated to be over 320 million cases per annum. Which stock to buy and why? Reproduction of news articles, photos, videos or any other content in whole or in part in any form Book Value Rs. During the year under review all the recommendations of the Audit Committee wereaccepted by the Board. 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 Radleris available in three flavours namely Ginger Lime. New variety UB-168 developed by the Company has beenput to commercial cultivation in 2019 which resulted in 5% better yield than the existingvariety with better malt quality. The company did take certain measures like fleet recovery and a debt repayment plan which could still attract investors. represents current trend. Performance of the Board is evaluated on various parameterssuch as composition strategy tone at the top risk and controls and diversity. We take pleasure in proposing a dividend of Rs. The Company continues sustainable associations for Kingfisher in the fields of sportsmusic food and fashion. In 2002, he got in to retailing with one stone in Suburban Mumbai and has unstoppable since then. Your Company intends to be a Water Neutral Organization by 2025 and the efforts havebeen focused in this direction. The Meetings of the Board and Committees are pre-scheduled and a tentative calendar ofthe meetings finalized in consultation with the Directors is circulated to them in advanceto facilitate them to plan their schedule. The beer brands manufactured and marketed by United Breweries Ltd. have always been recognized for their international quality. United Breweries share price gains 6% on potential Heineken offer During FY20 seven (7) BoardMeetings were held. 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. Over 617 truck drivers linked to the supply chain havebeen covered through this programme. Non-Executive Director"},{"name":"Daljit Mahal","designation":"Non Exe.Non Ind.Director"}],"registrars":{"name":"Integrated Enterprises (India) Ltd.","address1":"No.30, Ramana Residency","address2":"4th Cross, Sampige Road","address3":"Malleswaram","address4":"","telephone":"080-23460815","fax":"080-23460819","email":"","internet":"","city":"Bengaluru","state":"Karnataka","pincode":"560003"},"listing":[{"name":"BSE 100","value":"No"},{"name":"BSE 200","value":"No"},{"name":"SENSEX","value":"No"},{"name":"CNX MIDCAP 200","value":"No"},{"name":"NIFTY 50","value":"No"},{"name":"BSE 500","value":"No"}],"details":{"bseId":"507458","nseId":"UBHOLDINGS","series":"","isinid":"INE696A01025"}}}. Periodicreviews are carried out for identification of control deficiencies and opportunities forbridging gaps with best practices along with formalization of action plans to minimizerisks. We at moneycontrol are continually attempting to improve our products and what’s more, carry the best to our users! Against this dismissal a special leavepetition has been filed by UBHL before the Hon'ble Supreme Court of India. As required under Regulation 43A of the Listing Regulations the Company has formulateda Dividend Distribution Policy. Heineken in 2019 was a key partner to the IndianNightlife Convention and Awards (INCA) one of India's most respected and covetedplatforms to recognize the food beverage and nightlife industry. UNITED BREWERIES Announces Quarterly Results (3QFY20); Net Profit Down 2.6% (Quarterly Result Update) Feb 10, 2020 | Updated on Feb 10, 2020. No order/s have been passed or stringent action taken by any Regulator or Court orTribunal impacting the going concern status of the Company. 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. EBITDA for the year under review stood at Rs.8835 million ascompared to Rs.11695 million in the previous year reflecting a decrease of about 24%.Increased input cost and increase in price of beer to consumers due to increases in dutiesand consequent reduction in volumes not only dampened the demand but were alsoinstrumental in putting pressure on margins. 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. UBL has 3207 employees on its rolls across all locations. UBL has formulated a Performance Evaluation Policy inter-alia prescribingevaluation criteria for Independent Directors and the Board of Directors of the Company.The Policy is posted on the website of the Company and is available through the weblink http://unitedbreweries.com/pdf/policyandcodes/Directors%20Performance%20Evaluation%20Policy.pdf. (Net Worth)/Number of Shares. UBL continues toinvest in both capacities and brands year on year. Recycled bottle collection continues toremain a key focus area. Strategic long-term contracts were executed / extended with domesticglass suppliers for period starting April' 20 to mitigate higher cost due to imports. icTracker; icTopTen; Services. The Nomination and Remuneration Committee is constituted to act in accordance with theterms of reference and perform roles as prescribed under the Act and Listing Regulations.The composition of the Nomination and Remuneration Committee its terms of referenceroles and details of Meetings convened and held during the year under review is given inthe Corporate Governance Report forming a part of this Report. We implemented domestic malt movement freight through reverse auction process whichresulted in drop of malt freight. The said report has been shared with UBL vide CCI order dated November 26 2019seeking comments/objections to the DG Report on behalf of UBL. Besides this 5 large new water conservation projects were launched in TelanganaKarnataka Maharashtra Kerala and Tamil Nadu which aims at creating groundwater rechargepotential sustainable livelihood through natural resource management and training offarmers to promote sustainable livelihood through organic farming and climate resilientfarming practices. The threat to sales in some territories in the country arises due to changes ingovernment regulations as also the threat of prohibitive actions which stems from constantchanges in the political climate in the country. This had a huge and significant impact on the globalbusinesses all over the world across sectors and economy including India. Amstel is a slow brewedand extra matured lager internationally appreciated for its quality and enjoyed in over110 countries across the globe. Significant changes in Key Financial Ratios. more than a sixth of the world's population. Personal Financial Planning; Stock Advisory India; Stock Advisory USA; Mutual Funds Advisory; Growth Capital … Duringthe year under review the state of Andhra Pradesh introduced a new alcohol policy whichcancelled existing bar licenses and reduced the number of retail outlets by about 40%.Such a conservative and anti-industry approach in a few states poses a challenge for theCompany. Wealso established multi-modal transportation network (combination of surface & railroute) for movement of beer consignments for export from brewery in Daman to JawaharlalNehru Port Trust. -Mr. Henricus Petrus van Zon has been nominated by … based on price range of the previous trading week. day, calculated based on price range of the previous trading day. Lemon and Mint Lime. Learning is ingrained in the UBL culture and employees are constantly encouraged andgiven ample opportunities to upgrade their knowledge and skill. Kingfisher Storm has highly differentiated and disruptive packagingalong with a smooth and refreshing taste profile. Radhakishan Damani - Net Worth: $13.8 Billion. Nomination and Remuneration Committee. In the last quarter of 2018 the Company entered the 'Non-Alcoholic Beverages' segmentby launching Kingfisher Radler a non-alcoholic drink with 0% alcohol. Direct impact of COVID istherefore estimated at Rs. Analyst Corner – United Breweries Beer volume recovery tracking well FV raised to Rs 1260. Beer comprises about 12%1 of the total alcohol consumed in India. Kingfisher Ultra announced its association with themulti-talented and leading Bollywood celebrity Farhan Akhtar. UBL has not received any communication from the ED in thisregard. UBL's intent is to ensure a close alignment between the core commercial goals of thebusiness and the maximum possible social and economic benefit achievable. Our brands are sold in 60+ countries We create employment for over 7000 people. 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. The regulator said that funds for United Spirits Limited were diverted to other United Breweries companies, including Kingfisher Airlines. UBL's initiatives in the field of education have been in tandem with its endeavours toenhance the educational experience and improve the quality of primary education forchildren especially from the underprivileged sections. To ensure an effective evaluation process the Nomination and Remuneration Committeehas put in place a robust framework for conducting the exercise with key steps andpractices defined clearly. In addition to this focused education projects have been implementedin Rajasthan and Karnataka. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Total employee benefit expenses for the year stood at Rs. There is a perennial threat of competition introducing new products in varioussegments. On basis of alcohol content beer in India can be categorized into Strong and MildBeers. Some state governments for instanceMaharashtra and Uttar Pradesh offered separate licenses for beer sale further boosting theprospects for the industry. This gives us significant advantage in costagainst imported malt and flexibility in sourcing. The trading in the Equity Shares of the Company is under compulsory dematerializationmode. Return on Net worth: Return on Net worth decreased from 18% in 2018-19 to 12% in2019-20. Resistance level for the week, calculated based on price range of the This also include introduction of variety of craft and premium beers.Competition in the country's beer segment is witnessed amongst 3 major players. The above details be treated aspart of this Annual Report. COVID has changed the way we live work and use technology. None of the Employees & Directors have been denied access to the Chairman of theAudit Committee. Mukesh Ambani. These outlets have introduced consumers to new types of beers for example'wheat beer'. Sep 23 2019 10:09 AM, UBHL pleads with Karnataka High Court not to wind up company The company markets beer under the Kingfisher brand, and owns various other brands of alcoholic beverages. Assessed profit impact for March 2020 comprises lost sales volumes estimated at Rs.870 million and provision for obsolete stocks of Rs.160 million. Profit after Taxation stood atRs.4272 million as against Rs.5628 million in the previous year. Old MCI!~!172@29@0@53!~!|commonstore|commonfiles|moneycontrol_footer.php?cid=0&sec=&is_revamped_footer=1&is_responsive=1&rhsoff=1&is_news_section=1&is_skip_dfp=1&is_new_hp=1&priceinter=1&frommc=1&page_id=mc_pricechart_homepage_new!~!www|moneycontrol|com!~!|commonstore|commonfiles|moneycontrol_footer.php!~!is_mobile=false, Webinar Presented by Knowlarity & Freshworks. as provided in sub-section (12) of Section 197 of the Act read with Rule 5(1) &5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014.The details provided by the Company are in compliance with Section 136(1) of the Act andincludes salient features of Form AOC-3A. Is United Breweries an attractive stock to invest in? 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. UBL's sustainability reporting articulates its perspective on the emerging forces inthe global sustainability landscape and UBL's response on multiple dimensions likeeconomic ecological and social sustainability. Barring the COVID impact both in terms of revenues and sales volume which may lastduring the current FY20 the market is expected to further grow going forward. However the Secretarial Auditor has observed delay/ deviation with respect to (i)disclosure on related party transactions for half year ended March 2019 to Stock Exchangesand (ii) non-intimation of Board Meeting held on August 13 2019 to Stock Exchanges.Deviations in the nature of delay in submissions have been addressed by making requisitefilings with the Stock Exchanges and the matters stand resolved. New malts were developed locally forthe various new brand variants. Share of local Ring pullCrowns and PSL Labels sourcing increased to optimise cost. The Company has formulated a WhistleBlower Policy for Employees & Directors and has ensured adequate safeguards againstvictimization of whistle blowers. This is generally done by examining the company's profit and loss account, balance sheet and cash flow statement. Apart from our essential programmes tailor made customised programmes arealso offered to address the specific needs expressed by businesses aimed at buildingspecific capabilities at various levels of the organisation. Is the company as good as it looks? Pursuant to clause (c) of sub-section (3) of Section 134 of the Act 2013 the Board ofDirectors report that: (a) in the preparation of the annual accounts for the financial year ended March 312020 the applicable accounting standards have been followed along with proper explanationrelating to material departures; (b) the Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year and ofthe profit of the Company for that period; (c) the Directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities; (d) the Directors have prepared the annual accounts on a going concern basis; (e) the Directors have laid down internal financial controls to be followed by theCompany and ensured that such internal financial controls are adequate and were operatingeffectively and, (f) the Directors have devised proper systems to ensure compliance with the provisionsof all applicable laws and ensured that such systems were adequate and operatingeffectively. It has commenced this initiative with a programme toengage with key stakeholders of our business. He is positioned among the most richest individuals on the planet. 4998 million as compared toRs. UNITED BREWERIES Announces Quarterly Results (3QFY20); Net Profit Down 2.6% (Quarterly Result Update) Feb 10, 2020 | Updated on Feb 10, 2020. Consumers today expect more from theirbeers-in-terms of flavour taste and experience. The airlines turned to Bombay Stock Exchange (BSE) in 2011 disclosing that their net worth significantly dropped. The maker of Kingfisher reported a 10.65% drop in net sales in the second quarter at Rs 3099.58 crore. United Breweries chosen as one of the top future-ready companies in this year’s ET 500 Edition. wat a CAGR of about 7% during the last five years. Founded by Thomas Leishman in 1857, the company specializes in the sales of alcoholic beverages, information technology, … The learning initiatives are also curated to build thetalent and leadership pipeline to enhance organisational capability to compete and win inthe market. The second half of March 2020 saw a rapid spread of. The Company carries out periodic reviews of comparable companies and throughcommissioned survey ascertains the remuneration level prevailing in these companies. Human Resources (HR) develops UBL's most important asset - our people - by empoweringthem. Copyright © e-Eighteen.com Ltd All rights resderved. 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. 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 Impact of COVID. 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. Mid-day meals have been supported for 1666 children in 23 Government schoolsof Mangalore. Consumer acceptance of our beers hasled to further innovations and new product introductions. Following are the Key Financial Ratios where variance of more than 25% is noticed ascompared to the previous financial year; Interest Coverage Ratio: EBITDA 37 times interest in 2018-19 has come down to 28 timesin 2019-20 on account of EBITDA degrowth by 24% while interest costs is at same level. Our brewery at Palakkad received "Safety" award from Kerala StateDepartment of Factories & Boilers under Large Factories - Food and Food ProductCategory. Note : Support and … Details of transactions with related parties as defined in the Act and the Rules framedthereunder the Listing Regulations and Accounting Standard 18 of the Companies(Accounting Standards) Rules 2006 have been reported in the Notes to financialstatements. Infrastructure development for a tribal school in Nagpur Maharashtra wascompleted. day, calculated based on price range of the previous trading day. Familiarization programme for Independent Directors. Find out how a company stacks up against peers and within the sector. A statement containing the salient features of the financial statement of thesubsidiary and associate is attached as Annexure-C to this Report. How much will banks get if they sell Vijay Mallyau2019s shares? Given such a scenario companies will have to operate differently to effectivelymanage the crisis. 6800 crore. 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. This had an adverse impact on despatches sales as well as margins. The Board of Directors have approved and adopted the 'Code of Conduct to RegulateMonitor and Report of Trading by Insiders' and also a 'Code of Practices and Proceduresfor Fair Disclosure of Unpublished Price Sensitive Information'. The rippling effect of lockdown will have a key impact on India's economy as allbusiness sectors get affected resulting in low revenue generation due to an eventual halt/ slump on the sale of products and / or services. As part of this process customizedquestionnaires were circulated to all Directors of the Company. The UBL Competency Frameworkhelps in assessing the current and future talent capability. The State Government of Bihar has challenged theJudgement of Patna High Court in Supreme Court which is pending. 2467 million) and foreign exchange outgo stood at Rs.3754 million(Previous Year: Rs. The maturing beer market combined with the support of government incentives on exportswill positively open up higher export potentials for Indian beer brands. (ii) As per disclosures received by UBL in May 2018 under SEBI (Prohibition of InsiderTrading) Regulations 2015 and SEBI (Substantial Acquisition of Shares and Takeovers)Regulations 2011 from a few Promoter companies controlled by Dr. Vijay Mallya we noticethat 41315690 Equity Shares held by such entities in UBL constituting 15.63% of thetotal paid up capital have been transferred to the demat account of EnforcementDirectorate (ED) Mumbai Government of India. Increase in Cullet Prices in West & North India since last 2years is impacting old bottle returns. In entirety the industry also faces the threat of partial or total prohibitionbased on political manifesto of the ruling party in a State. A name synonymous with beer in India, Kingfisher stands for excitement, youth, and camaraderie. The Board of Directors of UBL currently comprises of eight Directors with a balancedcombination of Executive Non-Executive and Independent Directors. The Company has put in placeaddtional financing headroom since the start of the pandemic to ensure sufficient accessto financial resources are in place under various business scenarios. From a total industry consumption of about 100 million cases in2005 the consumption crossed over 300 million cases in 2019. During the year the Company hasnot entered into any transaction with related parties which could be considered materialin accordance with the policy of the Company on materiality of related party transactions.
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