Press Release for quarter and half year ended September 30, 2026

United Spirits Limited Registered Office: UB Tower #24, Vittal Mallya Road, Bengaluru 560 001 Tel: +91 80 2221 0705 Fax: +91 80 2224 5253 www.diageoindia.com 28th October 2026 BSE Limited The National Stock Exchange of India Limited Listing Department Exchange Plaza, C-1 Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra East, Mumbai – 400 051 Scrip Code: 532432 Scrip Code: UNITDSPR Dear Sirs, Sub: Press release for the quarter and half year ended 30th September 2026. Kindly find enclosed a press release issued by the Company in connection with results for the quarter and half year ended 30th September 2026. This is for your information and records. Thank you, For United Spirits Limited Pragya Kaul Company Secretary and Compliance Officer Encl: as above Corporate Identity Number: L01551KA1999PLC024991 contactus.india@diageo.com Unaudited financial results for thef irst half and second quarter ended 30th September 2026 (Standalone only) Bengaluru, India - October 28, 2026: United Spirits Ltd., one of the leading beverage alcohol companies in India, reported its unaudited standalone results for the first half and second quarter ended 30 September 2026. Key Highlights for H1FY27 • Net Sales Value (NSV) at INR5,961 Cr. (+4.2%), with Prestige & Above (P&A) saliency of 93.5% • P&A NSV at INR5,576 Cr. (+7.8%#) • EBITDA at INR1,075 Cr. (-1.1%) with a margin of 18.0% • PAT at INR853 Cr. (16.8%) Key Highlights for Q2FY27* • NSV at INR3,258 Cr. (+2.8%), with Prestige & Above (P&A) saliency of 94.1% • P&A NSV at INR3,065 Cr. (+6.3%#) • EBITDA at INR643 Cr. (-4.3%) with a margin of 19.7% • PAT at INR462 Cr. (-2.1%) *From Q2FY27, McDowells No.1 brandy is reclassified from popular to the P&A segment based on the consumer price point. Consequently, the numbers for the current as well as prior periods are reported & restated accordingly. #P&A NSV ex-brandy for H1FY27 & Q2FY27 grew 8.1% and 6.5% respectively on a like for like basis. Mr. Praveen Someshwar, CEO & Managing Director, commenting on the Q2FY27 performance, said: “We delivered a resilient quarter despite a strong prior-year base and regulatory headwinds, while continuing to invest behind our brands for long-term growth. The relaunch of J&B Scotch, enabled by the India-UK FTA, offers consumers a compelling proposition that will help recruit and deepen Scotch penetration. We also continue to unlock new avenues for growth, most recently, entering the Ready-to-Drink (RTD) segment with Smirnoff Ice to give consumers a convenient new choice. We look ahead to the festive quarter with confidence.” Q2FY27 performance highlights: • Net sales value (NSV) at INR3,258 Cr., up 2.8% YoY. Within the above 2.8% growth, Prestige & Above segment grew 6.3% despite lapping a high growth quarter in the prior year. This was on the back of Smirnoff local flavor innovation, J&B scotch relaunch and growth in the luxury portfolio. This was partially offset by the continuing impact of the adverse policy in Maharashtra. • NSV for the Popular segment at INR181 Cr., down 22.7% on a like-for-like basis. This was driven by MML impact in Maharashtra as well as recent policy changes in Karnataka, which have adversely impacted the realisations and growth in the segment owing to excise slab changes. • Gross profit grew 4.7% and reported gross margin was at 48.0%, an expansion of 88 bps over prior year. This was on the back of better mix, and productivity flow-through partially offset by the continued adverse impact from the West Asia crisis. • A&P re-investment rate was 11.6% (vs. 7.6% LY) of net sales value, reflecting healthy investments behind the brands and new launches ahead of the festive season. • EBITDA at INR643 Cr., down 4.3% year-on-year, impacted by the conscious pro- active A&P spending ahead of season. • EBITDA margin at 19.7%, a contraction of 146bps over prior year same quarter due to higher investments behind the trademarks. • Finance cost stands at INR24 Cr for the quarter and is primarily on account of customary non-debt related items. • Profit after tax at INR462 Cr., down 2.1%, with a net profit margin at 14.2%. H1FY27 performance highlights: • Net sales value (NSV) at INR5,961 Cr., up 4.2% YoY. Within the above 4.2% growth, Prestige & Above segment grew 7.8%. This was driven by the strong performance of Smirnoff local flavour innovation and the luxury portfolio partly offset by the regulatory headwinds in Maharashtra and disruption in the Exports business. • NSV for the Popular segment at INR354 Cr., declined 20.6% on account of policy related headwinds both in the state of Maharashtra, owing to MML, and Karnataka, due to excise slab changes. • Gross profit grew 7.5% and gross margin was at 47.1%. This is on the back of sustained revenue growth management interventions leading to headline pricing and mix flow-through as well as ongoing productivity initiatives offset by West Asia crisis impact. • A&P re-investment rate was 11.6% (vs. 8.4%) of net sales value on back of targeted investment behind the key trademarks. • Reported EBITDA at INR1,075 Cr., down 1.1%. • EBITDA margin at 18.0%, a contraction of 97bps over prior year. • Finance cost stands at INR54 Cr is on account of customary non-debt related items. • Profit after tax at INR853 Cr., grew 16.8% over prior year, with a net profit margin at 14.3%. Key Financial Information (Standalone basis) (In compliance with Schedule III of the Companies Act, 2013, the company has reported revenue from operations inclusive of excise duty.) Key performance indicators as a % of net sales value Q2FY27 Q2FY26 H1FY27 H1FY26 Gross profit margin (%) 48.0 47.1 47.1 45.7 Staff cost (%) (4.7) (5.5) (4.8) (5.4) Marketing spends (%) (11.6) (7.6) (11.6) (8.4) Other overheads (%) (11.9) (12.8) (12.7) (12.9) EBITDA growth (%) (4.3) 32.5 (1.1) 12.6 EBITDA margin (%) 19.7 21.2 18.0 19.0 EPS (INR) 6.35 6.49 11.73 10.04 Summary Financial Information - For the three months ended 30 September 2026 INR Crores. Q2FY27 Q2FY26 H1FY27 H1FY26 Volume (‘000 cases) 15,769 16,605 30,243 31,589 Gross revenue 7,001 7,192 13,114 13,015 Excise duty (3,743) (4,022) (7,153) (7,296) Net sales value 3,258 3,170 5,961 5,719 COGS (1,695) (1,677) (3,152) (3,105) Gross profit 1,563 1,493 2,809 2,614 Staff cost (153) (175) (286) (311) Marketing spends (378) (241) (690) (479) Other overheads (389) (405) (758) (737) EBITDA 643 672 1,075 1,087 Other income* 64 76 286 137 Depreciation (74) (65) (144) (133) EBIT 633 683 1,217 1,091 Finance cost (24) (21) (54) (70) PBT before exceptional items 609 662 1,163 1,021 Exceptionals# 11 (30) (70) (41) PBT 620 632 1,093 980 Tax (158) (160) (240) (250) PAT 462 472 853 730 *Other income for Q1FY27 includes dividend income amounting to INR150 crore from Royal Challengers Sports Private Limited (RCSPL) #Exceptionals in Q2FY27 is on account of sale of a license for a manufacturing unit covered by the Supply Agility Program. Exceptionals in Q1FY27 are primarily on account of organisation restructuring and supply agility program. Exceptionals for Q2FY26 and H1FY26 relate to employee severance costs. Business Segment Review (Standalone basis) For the period ended 30 September 2026 For the first half ended 30 September 2026 (Standalone) Volume Net sales value H1FY27 H1FY26 H1FY27 H1FY26 Movement Movement Segment '000 cs '000 cs % INR Cr. INR Cr. % P&A* 26,997 27,272 (1.0)# 5,576 5,173 7.8# Popular 3,246 4,317 (24.8) 354 446 (20.6) Other 31 100 (69.0) TOTAL 30,243 31,589 (4.3) 5,961 5,719 4.2 *From Q2FY27, McDowells No.1 brandy is reclassified from popular to the P&A segment based on the consumer price point. Consequently, the numbers for the current as well as prior periods are reported and restated accordingly. #For H1FY27, P&A ex-brandy declined 1.5% in volumes and grew 8.1% in value on a like-for-like basis. • The Prestige & Above segment accounted for 93.5% of net sales value during the first half of fiscal year 2027, up 3.1ppts over the s [Showing first 8,000 characters — download PDF for full document]