United Spirits Ltd.

NSE: UNITDSPR · Breweries & Distilleries

52W Range₹1,211 ₹1,563

Snapshot

Unlock United Spirits Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

United Spirits Limited is a prominent Indian manufacturer and distributor of alcoholic beverages, offering a diverse portfolio of whisky, brandy, rum, vodka, and gin. The company manages a wide range of domestic brands alongside the distribution of Diageo's international premium spirits.

Business Model

The company generates revenue through the production, marketing, and sale of alcoholic beverages across various price points, ranging from popular to prestige segments. It leverages its extensive distribution network and the global brand equity of its parent company, Diageo, to maintain market leadership.

Growth Outlook

Growth is driven by the premiumisation of the Indian spirits market and the continued expansion of its international brand portfolio. The company focuses on enhancing its product mix to cater to evolving consumer preferences for higher-value offerings.

Key Risks

  • Regulatory and Taxation Risk. The alcoholic beverage industry in India is subject to complex state-level regulations, excise duties, and frequent changes in taxation policies that can significantly impact profitability.
  • Raw Material Price Volatility. Fluctuations in the costs of key inputs such as extra neutral alcohol (ENA), grains, and packaging materials can exert pressure on operating margins.
  • Public Health and Social Policy. Changes in social attitudes towards alcohol consumption or the implementation of prohibition policies in specific Indian states pose a threat to market access and demand.
  • Competitive Intensity. The company faces stiff competition from both domestic players and international entrants, necessitating continuous investment in brand building and marketing.

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Key Metrics

REVENUE

₹28,118 Cr

TTM · consolidated

+2.9%YoY

NET PROFIT

₹1,883 Cr

TTM · consolidated

+24.4%YoY

EPS

₹26.52

TTM · consolidated

+24.4%YoY

RETURN ON EQUITY

22.1%

TTM · consolidated

+3.4 ppYoY

RETURN ON CAPITAL EMPLOYED

25.6%

TTM · consolidated

+0.0 ppYoY

P/E

55.5x

Q1 FY27 · consolidated

55.5 vs 87.0x5Y avg

EV/EBITDA

38.2x

Q1 FY27 · consolidated

38.2 vs 53.6x5Y avg

EBITDA MARGIN

9.9%

TTM · consolidated

+0.6 ppYoY

NET PROFIT MARGIN

7.6%

Q1 FY27 · consolidated

+1.0 ppYoY

DEBT TO EQUITY

0.0x

Q1 FY27 · consolidated

+0.00xYoY

Peers · Breweries & Distilleries

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
United Spirits Ltd.UNITDSPR
₹1.07L Cr55.4938.182.9%9.9%22.1%25.6%+11.4%
Radico Khaitan LtdRADICO
₹60,189 Cr85.5052.5318.6%5.3%23.2%29.3%+58.2%
United Breweries Ltd.UBL
₹33,828 Cr85.5240.07-5.1%4.8%8.9%13.7%-30.3%
Allied Blenders & Distillers Ltd.ABDL
₹17,061 Cr77.9031.76-5.9%7.5%13.1%26.3%+23.5%
Tilaknagar Industries Ltd.TI
₹13,242 Cr-418.0529.4698.9%7.7%-1.9%4.5%+16.4%
Piccadily Agro Industries Ltd.PICCADIL
₹6,070 Cr42.8826.4129.7%21.2%15.6%20.4%+2.7%

As of Q1 FY27

Financials