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United Spirits

₹1392.8 16.1 | 1.2%

Last updated: 11:19

Consolidated Standalone

Last updated: 11:19

United Spirits Overview

United Spirits Limited is an India-based organization, which is engaged within the business of manufacture, buy and sale of beverage alcohol and other allied spirits, thru tie-up production devices and through strategic franchising of its manufacturers in certain states. The Company manufacture, promote and distribute a group of manufacturers, along with Johnnie Walker, Black Dog, Black & White, Vat sixty nine, Antiquity, Signature, Royal Challenge, McDowell's No1, Smirnoff, and Captain Morgan.

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United Spirits Key Financials

Market Cap ₹101305 Cr.

Stock P/E 63.8

P/B 11.5

Current Price ₹1392.8

Book Value ₹ 121.4

Face Value 2

52W High ₹1644.9

Dividend Yield 0.86%

52W Low ₹ 1270.5

Edit Ratio

United Spirits Share Price

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Volume
Price

United Spirits Quarterly Price

Quarterly Monthly
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United Spirits Peer Comparison

United Spirits Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 6737 6962 6511 6238 6672 7732 6634 6295 7199 7942
Other Income 40 52 111 35 54 72 175 72 81 51
Total Income 6777 7014 6622 6273 6726 7804 6809 6367 7280 7993
Total Expenditure 6269 6476 6177 5525 6170 7164 6174 5651 6539 7343
Operating Profit 508 538 445 748 556 640 635 716 741 650
Interest 27 16 29 22 25 20 22 49 21 19
Depreciation 66 63 73 72 69 72 70 76 65 80
Exceptional Income / Expenses 31 0 -31 0 0 -65 0 -14 -30 -10
Profit Before Tax 446 459 312 654 462 483 543 577 625 541
Provision for Tax 107 109 71 168 119 145 121 154 160 123
Profit After Tax 339 350 241 486 343 338 422 423 465 418
Adjustments 0 0 0 -1 -2 -3 -1 -6 -1 0
Profit After Adjustments 339 350 241 485 341 335 421 417 464 418
Adjusted Earnings Per Share 4.7 4.8 3.3 6.7 4.7 4.6 5.8 5.8 6.4 5.8

United Spirits Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 8463 8495 8818 8591 9341 9325 8131 9712 10612 11321 12069 28070
Other Income 54 44 105 219 69 79 40 48 73 225 345 379
Total Income 8516 8539 8923 8810 9410 9404 8171 9761 10685 11546 12414 28449
Total Expenditure 8436 7530 7828 7383 7947 7810 7079 8117 9195 9320 9835 25707
Operating Profit 81 1008 1095 1426 1463 1594 1092 1644 1490 2226 2579 2742
Interest 687 457 375 278 237 212 188 88 104 76 89 111
Depreciation 194 157 189 192 215 285 299 304 282 275 283 291
Exceptional Income / Expenses -1081 -27 -368 -45 3 67 -64 -165 176 -17 -65 -54
Profit Before Tax -1881 366 163 912 1012 1160 540 1087 1279 1857 2135 2286
Provision for Tax 49 223 70 260 328 540 178 276 153 449 553 558
Profit After Tax -1929 143 93 652 684 621 362 811 1126 1408 1582 1728
Adjustments 242 -5 7 -18 17 38 22 18 11 0 0 -8
Profit After Adjustments -1688 138 100 634 700 659 384 829 1137 1408 1582 1720
Adjusted Earnings Per Share -23.2 1.9 1.4 8.7 9.6 9.1 5.3 11.4 15.7 19.4 21.8 23.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 7% 8% 5% 4%
Operating Profit CAGR 16% 16% 10% 41%
PAT CAGR 12% 25% 21% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -2% 21% 20% 11%
ROE Average 21% 21% 18% 7%
ROCE Average 29% 28% 24% 17%

United Spirits Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 660 1635 1786 2419 3090 3728 4120 4954 6001 7121 8104
Minority's Interest 1 6 -3 14 -3 -41 -61 -79 0 0 0
Borrowings 1117 731 870 763 780 15 2 1 0 0 0
Other Non-Current Liabilities 100 -83 -134 -119 -237 -3 -33 50 -20 480 811
Total Current Liabilities 5923 5838 6182 5818 6144 4994 5365 3838 3623 4041 4833
Total Liabilities 7801 8139 8718 8894 9775 8692 9393 8764 9604 11642 13748
Fixed Assets 1921 1887 1917 1791 1841 1956 1886 1855 1509 1421 1637
Other Non-Current Assets 1017 965 1052 1301 1714 1866 1677 1745 1861 2706 2798
Total Current Assets 4863 5258 5625 5660 6220 4870 5830 5163 6234 7515 9313
Total Assets 7801 8139 8718 8894 9775 8692 9393 8764 9604 11642 13748

United Spirits Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 606 268 129 79 142 216 66 78 55 115 1052
Cash Flow from Operating Activities -196 283 647 925 948 783 1818 977 615 1118 1947
Cash Flow from Investing Activities 3877 751 -227 104 -66 -194 -99 -313 -55 226 -1114
Cash Flow from Financing Activities -4002 -1160 -470 -966 -808 -740 -1707 -688 -500 -407 -557
Net Cash Inflow / Outflow -321 -126 -50 63 75 -150 12 -23 60 937 276
Closing Cash & Cash Equivalent 263 129 79 142 216 66 78 55 115 1052 1328

United Spirits Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -23.23 1.9 1.38 8.72 9.64 9.07 5.28 11.41 15.68 19.42 21.82
CEPS(Rs) -23.89 4.14 3.88 11.62 12.36 12.47 9.1 15.34 19.42 23.21 25.72
DPS(Rs) 0 0 0 0 0 0 0 0 0 9 12
Book NAV/Share(Rs) 9.08 22.5 24.52 33.3 42.47 51.23 56.61 68.19 82.76 98.21 111.77
Core EBITDA Margin(%) 0.13 4.03 3.84 4.55 4.83 5.26 3.84 5.14 5.09 7.69 8.19
EBIT Margin(%) -5.54 3.44 2.09 4.48 4.33 4.76 2.65 3.78 4.97 7.43 8.15
Pre Tax Margin(%) -8.73 1.53 0.63 3.43 3.5 4.03 1.97 3.5 4.6 7.14 7.83
PAT Margin (%) -8.96 0.6 0.36 2.45 2.37 2.15 1.32 2.61 4.05 5.41 5.8
Cash Profit Margin (%) -8.06 1.26 1.09 3.18 3.11 3.14 2.41 3.59 5.06 6.47 6.84
ROA(%) -17.1 1.8 1.1 7.4 7.32 6.72 4 8.93 12.26 13.25 12.46
ROE(%) -104.53 12.5 5.44 31.04 24.84 18.23 9.24 17.88 20.56 21.46 20.78
ROCE(%) -14.05 14.29 9.11 20.21 21.14 22.73 13.11 22.82 24.48 29.4 29.17
Receivable days 34.04 30.93 37.25 38.93 33.21 30.56 29.76 26.8 31.54 38.51 43.26
Inventory Days 39.78 28.3 27.49 26.44 24.36 24.45 26.49 24.73 28.78 30.11 29.23
Payable days 141.3 111.05 131.65 181.43 171.99 134.68 162.09 159.26 145.39 168.15 179.25
PER(x) 0 262.61 315.5 71.66 57.38 53.48 105.38 77.83 48.23 58.41 64.24
Price/Book(x) 80.67 22.22 17.73 18.77 13.02 9.47 9.83 13.02 9.14 11.55 12.54
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0.79 0.86
EV/Net Sales(x) 6.83 4.76 4.04 5.66 4.58 4.03 5.07 6.67 5.08 7.15 8.25
EV/Core EBITDA(x) 716.37 40.09 32.56 34.07 29.24 23.55 37.73 39.41 36.21 36.38 38.62
Net Sales Growth(%) -4.03 -9 3.8 -2.57 8.73 -0.16 -12.8 19.44 9.26 6.68 6.61
EBIT Growth(%) -776.72 186.88 -34.7 121.14 5.01 9.88 -46.98 61.43 17.74 39.77 15.05
PAT Growth(%) -33.9 108.5 -35.15 600.97 4.86 -9.22 -41.65 123.86 38.91 25.04 12.36
EPS Growth(%) 62.4 108.2 -27.62 533.18 10.48 -5.9 -41.78 116.01 37.5 23.83 12.36
Debt/Equity(x) 7.56 2.6 2.33 1.41 0.93 0.64 0.21 0.07 0 0 0
Current Ratio(x) 0.82 0.9 0.91 0.97 1.01 0.98 1.09 1.35 1.72 1.86 1.93
Quick Ratio(x) 0.52 0.57 0.6 0.64 0.7 0.59 0.7 0.78 1.11 1.35 1.45
Interest Cover(x) -1.74 1.8 1.43 4.29 5.27 6.47 3.88 13.35 13.3 25.43 24.99
Total Debt/Mcap(x) 0.09 0.12 0.13 0.08 0.07 0.07 0.02 0.01 0 0 0

United Spirits Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 56.67 56.67 56.67 56.67 56.67 56.67 56.67 56.67 56.67 56.67
FII 16.51 16.23 16.68 15.1 16.11 15.93 14.98 15.04 14.38 14.12
DII 12.32 12.5 12.28 14 13.16 13.55 14.6 14.4 14.91 15.37
Public 14.5 14.59 14.37 14.22 14.05 13.84 13.75 13.88 14.04 13.83
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

United Spirits News

United Spirits Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 21%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 168.15 to 179.25days.
  • Stock is trading at 11.5 times its book value.

* The pros and cons are machine generated.

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