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United Spirits delivered resilient 6.3% P&A revenue growth despite significant regulatory headwinds from FSSAI and policy changes. Management remains aggressively optimistic, front-loading marketing spend ahead of the festive season.
United Spirits delivers strong double-digit P&A growth driven by Smirnoff's performance, but masks a volume contraction caused by policy headwinds in Maharashtra.
United Spirits (Diageo India) reported 7.6% Total NSV growth and 8.6% P&A NSV growth for FY26, driven by premiumization and portfolio re-shaping under 'Three Indias' strategy.