United Spirits Management

Management criteria checks 1/4

We currently do not have sufficient information about the CEO.

Key information

Hina Nagarajan

Chief executive officer

₹119.0m

Total compensation

CEO salary percentage	82.9%
CEO tenure	2.8yrs
CEO ownership	n/a
Management average tenure	2.8yrs
Board average tenure	2.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Hina Nagarajan's remuneration changed compared to United Spirits's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	₹13b
Sep 30 2023	n/a	n/a	₹11b
Jun 30 2023	n/a	n/a	₹13b
Mar 31 2023	₹119m	₹99m	₹11b
Dec 31 2022	n/a	n/a	₹12b
Sep 30 2022	n/a	n/a	₹13b
Jun 30 2022	n/a	n/a	₹10b
Mar 31 2022	₹65m	₹47m	₹8b

Compensation vs Market: Hina's total compensation ($USD1.43M) is above average for companies of similar size in the Indian market ($USD942.51K).

Compensation vs Earnings: Hina's compensation has increased by more than 20% in the past year.

CEO

Hina Nagarajan (58 yo)

2.8yrs

Tenure

₹119,043,225

Compensation

Ms. Hina Nagarajan serves as Managing Director and Chief Executive Officer of Diageo India at Diageo plc. since 2023 and served as its Managing Director and Chief Executive Officer of United Spirits Limite...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Hina Nagarajan	MD, CEO & Director	2.8yrs	₹119.04m	no data
Pradeep Jain	CFO & Executive Whole-time Director	3.5yrs	₹3.72m	no data
Mital Sanghvi	VP of Treasury	3.8yrs	₹13.94m	no data
Shilpa Vaid	Chief Human Resource Officer	1.4yrs	₹22.86m	no data
Prathmesh Mishra	Chief Commercial Officer	no data	₹46.79m	no data
Subroto Geed	Executive VP and COO of Popular & Franchise Business	no data	₹32.08m	no data
Shweta Jain	Chief Business Development Officer - Luxury Reserve Craft & Strategic Accounts	no data	₹18.63m	no data
Vikram Damodaran	Chief Innovation Officer	no data	₹22.52m	no data
Jitendra Mahajan	Chief Supply & Sustainability Officer	2yrs	₹44.80m	no data
Kashinath Jha	Vice President of Manufacturing	no data	₹17.60m	no data
Anshu Vazirani	Vice President of Corporate Real Estate Services	no data	₹14.49m	no data
Ashok Arora	Vice President of Supply Finance	no data	₹10.88m	0.000010% ₹ 85.1k

2.8yrs

Average Tenure

48yo

Average Age

Experienced Management: 532432's management team is considered experienced (2.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Hina Nagarajan	MD, CEO & Director	2.8yrs	₹119.04m	no data
Pradeep Jain	CFO & Executive Whole-time Director	1.2yrs	₹3.72m	no data
Mahendra Sharma	Independent Non-Executive Chairman	9yrs	₹5.48m	no data
Vegulaparanan Viswanathan	Independent Non-Executive Director	7.5yrs	₹4.78m	no data
Indu Shahani	Independent Non-Executive Director	9.6yrs	₹4.80m	no data
Mukesh Butani	Independent Director	no data	no data	no data
Dhanushkodi Sivanandhan	Independent Non-Executive Director	10.8yrs	₹4.70m	no data
Rajeev Gupta	Independent Non-Executive Director	9.3yrs	₹4.03m	no data
Mark Sandys	Non-Executive Non-Independent Director	2yrs	no data	no data
Mamta Sundara	Non-Executive Non-Independent Director	1.2yrs	₹44.07m	no data
Indu Bhushan	Independent Director	no data	no data	no data
Emily Gibson	Non-executive & Non-independent director	less than a year	no data	no data

2.4yrs

Average Tenure

62yo

Average Age

Experienced Board: 532432's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.

United Spirits Management

Management criteria checks 1/4

Key information

Recent management updates

United Spirits Limited Announces Board Appointments

United Spirits Limited Announces Resignation of Navin Jain as Tax Director Asia & India, Effective from December 31, 2023

High number of new directors

United Spirits Limited Appoints Emily Kathryn Gibson as an Additional Director (Non-Executive Non-Independent Director), Effective 7 September 2023

United Spirits Limited, Annual General Meeting, Jul 31, 2023

United Spirits Limited Announces Resignation of John Thomas Kennedy as Non-Executive Non-Independent Director, Member of the Audit Committee and Nomination and Remuneration Committee, Effective from End of Day 30 June 2023

Recent updates

United Spirits Limited Announces Board Appointments

Third quarter 2024 earnings released: EPS: ₹4.93 (vs ₹3.02 in 3Q 2023)

United Spirits Limited to Report Q3, 2024 Results on Jan 23, 2024

Price target increased by 8.1% to ₹1,118

United Spirits Limited Approves the Payment of Interim Dividend for the Financial Year Ending 31 March 2024, Payable on or After December 4, 2023

United Spirits Limited to Report Q2, 2024 Results on Nov 08, 2023

United Spirits Limited Announces Resignation of Navin Jain as Tax Director Asia & India, Effective from December 31, 2023

High number of new directors

United Spirits Limited Appoints Emily Kathryn Gibson as an Additional Director (Non-Executive Non-Independent Director), Effective 7 September 2023

Price target increased by 7.6% to ₹969

New minor risk - Profit margin trend

New minor risk - Earnings quality

Full year 2023 earnings: EPS exceeds analyst expectations

United Spirits Limited to Report Q1, 2024 Results on Jul 20, 2023

United Spirits Limited, Annual General Meeting, Jul 31, 2023

United Spirits Limited Announces Resignation of John Thomas Kennedy as Non-Executive Non-Independent Director, Member of the Audit Committee and Nomination and Remuneration Committee, Effective from End of Day 30 June 2023

Full year 2023 earnings: EPS exceeds analyst expectations

Price target decreased by 7.3% to ₹880

Mr. Girish Jain and Mr. M. Sukumar entered into a definitive agreement to acquire Sovereign Distilleries Limited from United Spirits Limited (NSEI:MCDOWELL-N) for INR 320 million.

Third quarter 2023 earnings released: EPS: ₹3.02 (vs ₹4.22 in 3Q 2022)

United Spirits Limited (NSEI:MCDOWELL-N) completed the acquisition of remaining 25% stake in Pioneer Distilleries Limited (BSE:531879).

Second quarter 2023 earnings released: EPS: ₹7.80 (vs ₹4.11 in 2Q 2022)

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

United Spirits Limited to Report Fiscal Year 2023 Results on May 18, 2023

United Spirits Limited to Report Q1, 2023 Results on Jul 26, 2022

United Spirits Limited, Annual General Meeting, Aug 09, 2022

Inbrew Holdings Pte Ltd entered into an agreement to acquire 32 liquor brands from United Spirits Limited (NSEI:MCDOWELL-N) for INR 8.2 billion.

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Second quarter 2022 earnings released: EPS ₹4.11 (vs ₹1.82 in 2Q 2021)

Price target increased to ₹786

Prasanna Natarajan completed the acquisition of an unknown minority stake in Hip Bar Private Limited from United Spirits Limited (NSEI:MCDOWELL-N).

Price target increased to ₹692

First quarter 2022 earnings released: EPS ₹0.78 (vs ₹3.40 loss in 1Q 2021)

MD, CEO & Additional Director Anand Kripalu has left the company

Full year 2021 earnings released: EPS ₹5.41 (vs ₹9.29 in FY 2020)

New 90-day low: ₹547

NCL Industries Limited (BSE:502168) completed the acquisition of Tern Distilleries Private Limited from United Spirits Limited (NSEI:MCDOWELL-N).

Third quarter 2021 earnings released: EPS ₹4.05 (vs ₹3.32 in 3Q 2020)

New 90-day high: ₹645

United Spirits Limited to Report Q3, 2021 Results on Jan 27, 2021

New 90-day high: ₹614

United Spirits Limited Announces Change in Management

United Spirits Limited Announces Executive Changes

New 90-day high: ₹580

Second quarter 2021 earnings released: EPS ₹1.82

United Spirits Limited to Report Q2, 2021 Results on Nov 04, 2020

Sri Balaji Impex (SNG) Pte. Ltd. entered into an agreement to acquire Tern Distilleries Private Limited from United Spirits Limited (NSEI:MCDOWELL-N) for INR 300 million.

United Spirits Ltd Appoints Pradeep Jain as New Chief Financial Officer

New 90-day low - ₹547

New 90-day low - ₹570

United Spirits Limited to Report Q1, 2021 Results on Jul 27, 2020

CEO Compensation Analysis

CEO

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Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

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