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Feb 08, 2012
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16:28
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| United Breweries (Q3 FY12) |
| India Infoline Research Team/16:28,Feb 08,2012 |
| UB reported a ~58% yoy rise in revenues but growth not comparable yoy as Q3 FY12 revenues include results of several merged entities notably Millenium Alcobev, Empee Breweries and Chennai Breweries; for 9M FY12, UBL posted 6% vol growth vs industry growth of 1.5% |
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Nov 11, 2011
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12:53
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| Radico Khaitan (Q2 FY12) |
| India Infoline Research Team/12:53,Nov 11,2011 |
| Radico reported healthy ~20% yoy revenue growth driven by higher realizations and volume growth |
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Nov 08, 2011
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15:00
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| United Spirits: Q2 FY12 |
| India Infoline Research Team/15:00,Nov 08,2011 |
| Reported PAT up 98% yoy buoyed by Rs394mn in FX gain and Rs657mn in write back of levy on ENA in previous fiscal years imposed by Maharashtra govt; standalone interest cost jumped 26% yoy due to increased cost of funds and higher borrowings for working capital and capex |
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Nov 03, 2011
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16:15
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| United Breweries (Q2 FY12) |
| India Infoline Research Team/16:15,Nov 03,2011 |
| On a like-to-like basis, UB Q2 revenues revs up ~21% yoy supported by 13% higher realization/case |
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Aug 10, 2011
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17:43
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| United Breweries: Call Closure |
| India Infoline Research Team/17:43,Aug 10,2011 |
| We had recommended a SELL on United Breweries in our report – Conviction Sell Ideas, dated 11th July, 2011 with a target price of Rs443. |
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14:06
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| United Breweries (Q1 FY12) |
| India Infoline Research Team/14:06,Aug 10,2011 |
| Upgrade to Market Performer but retain our 9-mth TP of Rs443. |
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Aug 04, 2011
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17:14
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| United Spirits (Q1 FY12) |
| India Infoline Research Team/17:14,Aug 04,2011 |
| UNSP reported Q1 volume growth of 15.4% yoy to 30.7mn cases (+6.7% qoq) albeit on a weak base (Q1 FY11 vols up just 6% yoy) |
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Aug 03, 2011
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09:39
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| Radico Khaitan (Q1 FY12) |
| India Infoline Research Team/09:39,Aug 03,2011 |
| Strong 14% yoy mainline brand growth with premium brands growing even faster at ~22% yoy. |
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Jun 29, 2011
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12:45
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| United Breweries: ‘Too much froth’ |
| India Infoline Research Team/12:45,Jun 29,2011 |
| Await better entry point; initiate with SELL |
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May 19, 2011
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12:52
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| Radico Khaitan (Q4 FY11) |
| India Infoline Research Team/12:52,May 19,2011 |
| BUY with a revised 9-mth TP of Rs184 (earlier Rs203) |
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May 02, 2011
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12:14
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| United Spirits (Q4 FY11) |
| India Infoline Research Team/12:14,May 02,2011 |
| We cut our FY12/13 margin estimates but retain Market Performer with a revised 9-mth TP of Rs1,143 (earlier Rs1,570) |
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Feb 02, 2011
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10:01
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| Radico Khaitan (Q3 FY11) |
| India Infoline Research Team/10:01,Feb 02,2011 |
| Although sugar production is pegged at 24-25mn tonnes in current season, molasses prices have remained steady in Q3 due to off take for ethanol blending program; we expect ~100bps EBIDTA improvement in next fiscal and retain our estimates and 9-mth target price of Rs203 |
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Dec 24, 2010
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11:31
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| Radico Khaitan: ‘In high spirits’ |
| India Infoline Research Team/11:31,Dec 24,2010 |
| Mainline brands to sport ~15% volume cagr |
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Nov 01, 2010
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17:46
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| Radico Khaitan (Q2 FY11) |
| India Infoline Research Team/17:46,Nov 01,2010 |
| Radico Khaitan (Q2 FY11) |
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Oct 28, 2010
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15:04
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| United Spirits (Q2 FY11) |
| India Infoline Research Team/15:04,Oct 28,2010 |
| United Spirits (Q2 FY11) |
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Oct 04, 2010
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14:06
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| Mr. Vijay K. Rekhi, President and Managing Director, United Spirits Ltd |
| Yash Ved/14:06,Oct 04,2010 |
| Replying to Yash Ved of IIFL, Vijay K. Rekhi "United Spirits is projecting to sell over 110 million cases in FY 2010-11 thereby becoming world’s largest spirits company."
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Aug 19, 2010
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10:56
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| Ajay Kumar Swarup, Managing Director, Globus Spirits |
| Anurag More/10:56,Aug 19,2010 |
| Replying to Anurag More of IIFL, Ajay Kumar Swarup, says "we are much more diversified company in terms of revenue mix" |
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Jul 26, 2010
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12:31
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| Mr. Lalit Sethi, Chief Financial Officer (CFO), Tilaknagar Industries Ltd. |
| Hemant P. Maradia/12:31,Jul 26,2010 |
| Speaking exclusively to Hemant P. Maradia of IIFL, Mr. Sethi says, "Currently, TI is looking at a Bottling Unit in Andhra Pradesh. The transactions are expected to be completed by September to October." |
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Jun 29, 2010
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16:08
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| United Spirits - 'Spirited Growth' - BUY (Target Rs1,512, Upside 16.5%) |
| India Infoline Research Team/16:08,Jun 29,2010 |
| United Spirits (UNSP) is well placed to outpace the IMFL industry growth as domestic portfolio is set to report a 14.5% volume CAGR over FY10-12. |
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Jun 28, 2010
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15:22
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| Alessio Secci, co-owner, Fratelli Wines India |
| Anil Mascarenhas/15:22,Jun 28,2010 |
| Replying to Anil Mascarenhas of IIFL during his visit to India, Alessio Secci says, "The biggest challenge is to grow consumption of wines, which is presently miniscule compared with spirits and beer." |
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