Latest news with #Someshwar
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Business Standard
12 hours ago
- Business
- Business Standard
Diageo India to acquire majority stake in NAO Spirits for ₹130 cr
Diageo India (United Spirits) on Thursday announced that it is acquiring a controlling stake in NAO Spirits at an enterprise value of ₹130 crore ($15.2 million), resulting in NAO Spirits becoming a subsidiary of the company, it said in a release. United Spirits will first purchase 37,683 equity shares of NAO from its existing shareholders, in two tranches, for an aggregate consideration of approximately ₹53.80 crore, according to a stock exchange filing. It will then subscribe afresh to 31,820 equity shares and 27,577 compulsorily convertible preference shares (CCPS) of NAO for a total consideration of approximately ₹56 crore. 'Upon successful completion of both the acquisition of shares in the first tranche under the SPA (share purchase agreement) and the fresh subscription (which will occur simultaneously), the company will hold shares constituting approximately 97.07 per cent of the paid-up share capital of NAO, resulting in NAO becoming a subsidiary of the company,' United Spirits said in its exchange filing. The company also said that the board of directors, in its meeting on Thursday, has authorised a further investment of up to ₹20 crore in NAO by way of subscription to CCPS and equity shares, in one or more tranches, to fund the working capital and other requirements of NAO from time to time. Praveen Someshwar, managing director and chief executive officer, Diageo India (United Spirits), said in the release: 'Ventures, Diageo India's investment arm, is dedicated to strengthening our portfolio by investing in disruptive alco-bev start-ups. This allows us to offer consumers a wider array of products that resonate with evolving preferences. The acquisition of NAO Spirits, a promising portfolio company within our Ventures arm, represents a pivotal step in exploring future growth opportunities in Indian craft spirits.' Someshwar added that the company believes it is the right time to scale up NAO Spirits using Diageo's expertise, unlocking new avenues for distribution and production. He further said that over the past few years, India has seen the emergence of multiple craft gin players, and NAO Spirits has become a leader in the category. 'As consumers shift towards experimentation, repertoire, and casual drinking occasions, demand for local yet authentic, craft-oriented brands is on the rise. NAO Spirits' brands are well placed to cater to these evolving trends. Diageo India already has leading international gin brands such as Tanqueray in its portfolio,' he said.
Time of India
13 hours ago
- Entertainment
- Time of India
Chakravarti Samrat Prithviraj Chauhan: Ronit Roy as King Someshwar ascends the throne; says 'It is an emotional milestone, and it hit me on a very personal level'
Historical epic Chakravarti Samrat Prithviraj Chauhan continues to captivate audiences with its powerful storytelling, grand visuals, and strong performances. Chronicling the remarkable journey of one of India's most legendary rulers, the show now gears up for a landmark moment, the Rajya Abhishek of King Someshwar played by the talented , marking a significant turn in the legacy of the Chauhan dynasty. Tired of too many ads? go ad free now Following the untimely demise of his elder brother, King Someshwar steps forward to shoulder the immense responsibility of the kingdom. Known for his unwavering principles, righteous nature, and strategic acumen, King Someshwar is a man deeply rooted in values and committed to justice. As he is crowned king, the kingdom looks to him with hope and reverence, setting the stage for a new chapter in the royal lineage of Ajmer. Talking about the track, Ronit Bose Roy shared, 'Portraying King Someshwar has been an incredibly enriching experience for me — not just as an actor but as a person. He's a man of profound integrity, who carries the weight of the kingdom with quiet strength and wisdom. The Rajya Abhishek sequence is an emotional milestone in the show, and it hit me on a very personal level. As an actor, I've always been drawn to roles that challenge me internally, and this one definitely did. I remember standing on set during the coronation scene, with the grand costumes, the heavy crown, the chants echoing around — and for a moment, there was complete stillness. It transported me. It didn't feel like a scene being shot. It felt like I was genuinely stepping into the shoes of a king whose every move mattered. Playing him has reminded me why I became an actor in the first place — to tell stories that matter, and to lose myself in characters that have something profound to say.' Ronit Roy bags his first Hollywood project!
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Business Standard
20-05-2025
- Business
- Business Standard
Diageo (USL) Q4 PAT rises 43% to Rs 421 crore, revenue rises 2.74%
USL reports 43% jump in Q4 PAT to Rs 421 crore, driven by strong P&A growth; NSV rises 8.9% despite fewer IPL matches, final dividend of Rs 8 per share proposed Bengaluru Bengaluru-based alcobev major Diageo (United Spirits Limited) reported a consolidated profit after tax (PAT) of Rs 421 crore for the fourth quarter ended 31 March FY25, up 42.7 per cent from Rs 295 crore in the same period last year. Net revenue for Q4 rose 2.74 per cent year-on-year to Rs 6,809 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 460 crore, registering a 37.7 per cent increase, driven by leveraged growth in the alcohol segment. The company posted a net sales value (NSV) of Rs 3,031 crore for the quarter, up 8.9 per cent annually. This growth was supported by the standalone business, partly offset by a lower number of Indian Premier League (IPL) matches played by Royal Challengers Bengaluru (RCB) in the January–March quarter compared to the corresponding period last year. Commenting on the full-year performance, Praveen Someshwar, chief executive officer and managing director, said: 'The challenging demand environment notwithstanding, we have delivered 13.2 per cent NSV growth for the prestige and above (P&A) segment in Q4FY25, and 9.9 per cent P&A growth for FY25, along with leveraged EBITDA growth that brings us closer to our medium-term guidance.' 'Looking ahead, we remain focused on delivering sustained growth while creating long-term value for all our stakeholders, in line with our ambition to be the best-performing, most trusted and respected consumer-packaged goods (CPG) company in India,' Someshwar added. The board has recommended a final dividend of Rs 8 per share for FY25, subject to shareholders' approval. For the full year FY25, PAT rose to Rs 1,582 crore compared to Rs 1,408 crore in FY24. Revenue for the full year FY25 is reported at Rs 27,612 crore, up 4.95 per cent from FY24. Diageo announced its Q4 results post-market hours on Tuesday. The company's shares closed at Rs 1,557.45 apiece, up 0.022 per cent on the BSE.
Time of India
13-05-2025
- Entertainment
- Time of India
Annual Kurdi reunion called off as submerged village fails to surface
Margao: The annual Sri Someshwar Utsav at Kurdi village has been cancelled as water levels of the underwater village haven't receded to the desired level. The traditional event, scheduled for May 18, brings together displaced residents of the submerged village to celebrate their cultural roots and shared heritage. The organising committee announced the cancellation with 'a heavy heart,' citing safety concerns as water levels remain high, blocking access roads to the village site. In recent years, locals witnessed a pattern where the village emerges from the waters during summer months, allowing former residents to visit their ancestral land. Kurdi, which went under water over three decades ago following the construction of the Selaulim irrigation project , was once a thriving community known for its abundant produce of cashews, jackfruits, mangoes, bananas, and coconuts. The village resurfaces for a few months before the monsoon, revealing remnants of its rich historical and cultural heritage , including the centuries-old Someshwar temple, Ganesh temple ruins, and the former high school building. The village holds particular significance as the birthplace of renowned Hindustani classical singer Mogubai Kurdikar , mother of Kishori Amonkar. The ruins of her house, located near the Someshwar temple, have been a point of interest for visitors during previous reunions. Last year's celebration saw a successful gathering after a three-year hiatus, featuring classical vocal performances and traditional religious ceremonies. The event drew not only former residents but also tourists eager to explore the underwater village's remains. 'This is disappointing,' said a former Kurdi resident. 'The annual gathering is more than just a celebration — it's a connection to our roots and an opportunity to pass our heritage to younger generations.' The organising committee has promised to keep the community informed about potential future dates for the Sri Someshwar Utsav, should water levels permit.
