United Spirits

What does United Spirits do?

United Spirits Ltd is India's largest alcoholic beverage company, with a market cap of Rs 115,627 Cr and reported net sales of 3,031 Cr and net profit of 421 Cr for the quarter ending March 2025. The company, originally founded in 1999, is known for its strong brand portfolio and operates under the Diageo umbrella.

Overview:<BR>United Spirits Ltd is the largest alcoholic beverage company in India, operating within the beverages industry and classified as a large-cap company.<BR><BR>History:<BR>United Spirits Ltd was initially incorporated in 1999 as 'McDowell Spirits Limited'. The company underwent several name changes, becoming McDowell & Company Limited in April 2000 and finally United Spirits Limited on October 17, 2006. The latest reported quarterly results indicate net sales and net profit for the period ending March 2025.<BR><BR>Financial Snapshot:<BR>Net Sales: 3,031 Cr (Quarterly Results - Mar 2025) <BR>Net Profit: 421 Cr (Quarterly Results - Mar 2025) <BR>Market Cap: Rs 115,627 Cr (Large Cap)<BR><BR>Key Metrics:<BR>P/E: 72.00 <BR>Industry P/E: 65 <BR>Dividend Yield: 0.56% <BR>Debt-Equity: -0.30 <BR>Return on Equity: 20.08% <BR>Price to Book: 14.45<BR><BR>Contact Details:<BR>Address: UB Tower, 24 Vittal Mallya Road UB City Bangalore Karnataka : 560001 <BR>Tel: 91-80-39856500/22210705 <BR>Email: usinvestor@unitedsprits.in <BR>Website: http://www.diageoindia.com

Who are the peers of the United Spirits?

United Spirits' peers include Varun Beverages, United Breweries, Radico Khaitan, and Sula Vineyards, among others. Radico Khaitan leads in 1-year returns at 64.34%, while United Spirits has a return of 34.87%, and Sula Vineyards shows a decline of -41.92%.

Peers: The peers of United Spirits are Varun Beverages, United Breweries, Radico Khaitan, Allied Blenders, Tilaknagar Inds., Globus Spirits, Som Distilleries, Sula Vineyards, Assoc.Alcohols, and G M Breweries.<BR><BR>Quality Snapshot: Excellent management risk is observed at Varun Beverages, while Good management risk is found at Radico Khaitan, Allied Blenders, Globus Spirits, and Sula Vineyards, and the rest. Average management risk is noted at United Breweries, Tilaknagar Inds., Som Distilleries, Assoc.Alcohols, and G M Breweries, and the rest. Excellent growth is seen at Varun Beverages and Som Distilleries, while Good growth is found at Allied Blenders and Tilaknagar Inds., and the rest. Below Average growth is noted at United Spirits, United Breweries, Radico Khaitan, Globus Spirits, Sula Vineyards, and the rest. Excellent capital structure is observed at United Spirits, United Breweries, Radico Khaitan, and Assoc.Alcohols, while Good capital structure is found at Varun Beverages and Globus Spirits, and the rest. Average capital structure is noted at Allied Blenders, while Below Average capital structure is observed at Tilaknagar Inds.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Radico Khaitan at 64.34%, while Sula Vineyards has the lowest at -41.92%. United Spirits has a 1-year return of 34.87%, which is significantly higher than Sula Vineyards but lower than Radico Khaitan. Additionally, the peers with negative six-month returns include Varun Beverages, Sula Vineyards, and G M Breweries.

Who are in the management team of United Spirits?

As of March 2023, the management team of United Spirits includes Mahendra Kumar Sharma (Chairman), Hina Nagarajan (Managing Director & CEO), Pradeep Jain (Executive Director & CFO), and several independent and non-executive directors. The team is diverse, encompassing various roles in governance and compliance.

As of March 2023, the management team of United Spirits includes the following individuals:<BR><BR>1. Mahendra Kumar Sharma - Chairman & Independent Director<BR>2. D Sivanandhan - Non-Executive & Independent Director<BR>3. Indu Shahani - Non-Executive & Independent Director<BR>4. Rajeev Gupta - Non-Executive & Independent Director<BR>5. John Thomas Kennedy - Non-Executive & Non-Independent Director<BR>6. V K Viswanathan - Non-Executive & Independent Director<BR>7. Mital Sanghvi - Company Secretary & Compliance Officer<BR>8. Hina Nagarajan - Managing Director & CEO<BR>9. Mark Dominic Sandys - Non-Executive Director<BR>10. Pradeep Jain - Executive Director & CFO<BR>11. Mamta Sundara - Director<BR><BR>This diverse team comprises various roles, including independent directors, executive positions, and compliance oversight.

Who are the top shareholders of the United Spirits?

The top shareholders of United Spirits are Diageo Relay Bv with 55.88%, followed by mutual funds at 12.64%, foreign institutional investors at 14.98%, and HDFC Trustee Company Limited at 2.78%. Individual investors hold 8.16% of the shares.

The top shareholders of United Spirits include Diageo Relay Bv, which holds a significant 55.88% of the shares, making it the largest promoter. Other notable shareholders are mutual funds, which collectively hold 12.64% through 295 schemes, and foreign institutional investors (FIIs) with a 14.98% stake across 695 entities. The highest public shareholder is HDFC Trustee Company Limited, specifically through the HDFC Flexi Cap Fund and various schemes, holding 2.78%. Additionally, individual investors account for 8.16% of the shareholding.

How big is United Spirits?

As of 24th July, United Spirits Ltd has a market capitalization of 97,614.00 Cr, with recent net sales of 12,069.00 Cr and a net profit of 1,582.00 Cr over the last four quarters.

As of 24th July, <BR><BR>Market Cap: United Spirits Ltd has a market capitalization of 97,614.00 Cr and is classified as a Large Cap company.<BR><BR>Recent Quarterly Performance: The sum of Net Sales for the latest 4 quarters is 12,069.00 Cr, while the sum of Net Profit for the same period is 1,582.00 Cr.<BR><BR>Balance Sheet Snapshot: The reporting period for the latest annual data is March 2024. Shareholder's Funds are valued at 7,121.00 Cr, and Total Assets amount to 11,072.00 Cr.

Is United Spirits overvalued or undervalued?

As of August 8, 2025, United Spirits is considered very expensive and overvalued with a PE ratio of 57.65 and an EV to EBITDA of 40.75, despite strong returns on capital and equity, while its stock has underperformed the Sensex with a year-to-date return of -20.64%.

As of 8 August 2025, the valuation grade for United Spirits has moved from expensive to very expensive, indicating a significant shift in its perceived market value. The company is currently considered overvalued. Key ratios highlight this assessment, with a PE ratio of 57.65, an EV to EBITDA of 40.75, and a PEG ratio of 3.95, all of which are substantially higher than industry norms.<BR><BR>In comparison to its peers, Varun Beverages has a PE ratio of 58.73 and an EV to EBITDA of 33.49, while United Breweries stands at a PE of 108.55 and an EV to EBITDA of 58.87, both of which further emphasize the high valuation of United Spirits. Despite its strong ROCE of 34.50% and ROE of 20.08%, the company's recent stock performance has lagged behind the Sensex, with a year-to-date return of -20.64% compared to the Sensex's positive return of 2.20%.

How has been the historical performance of United Spirits?

United Spirits has shown consistent growth from March 2019 to March 2025, with net sales increasing from ₹9,340.80 Cr to ₹12,069.00 Cr, and profit after tax rising from ₹685.40 Cr to ₹1,589.00 Cr. The company's earnings per share also improved significantly, from 9.64 to 21.82, reflecting strong financial performance overall.

Answer:<BR>The historical performance of United Spirits shows a consistent growth trend in net sales and profits over the years leading up to March 2025.<BR><BR>Breakdown:<BR>United Spirits has demonstrated a steady increase in net sales, rising from 9,340.80 Cr in March 2019 to 12,069.00 Cr in March 2025. This growth is reflected in the total operating income, which also increased from 9,340.80 Cr in March 2019 to 12,069.00 Cr in March 2025. The company's operating profit (PBDIT) has similarly improved, reaching 2,579.00 Cr in March 2025, up from 1,462.80 Cr in March 2019. Profit before tax has shown a significant rise from 1,013.50 Cr in March 2019 to 2,142.00 Cr in March 2025, while profit after tax has increased from 685.40 Cr to 1,589.00 Cr over the same period. The earnings per share (EPS) have also seen a notable increase, from 9.64 in March 2019 to 21.82 in March 2025. On the balance sheet, total assets grew from 8,692.30 Cr in March 2019 to 13,093.00 Cr in March 2025, while total liabilities increased from 8,365.90 Cr to 13,093.00 Cr. The cash flow from operating activities improved significantly, reaching 1,947.00 Cr in March 2025, compared to 783.00 Cr in March 2020. Overall, United Spirits has shown a robust financial performance with increasing revenues, profits, and cash flow over the years.

Is United Spirits technically bullish or bearish?

As of December 4, 2025, United Spirits shows a mildly bearish trend due to a bearish weekly RSI and daily moving averages, despite mixed signals from the MACD and a mildly bullish stance indicated by Bollinger Bands.

As of 4 December 2025, the technical trend for United Spirits has changed from sideways to mildly bearish. The weekly MACD is bullish, but the monthly MACD is mildly bearish, indicating mixed signals. The weekly RSI is bearish, while the monthly RSI shows no signal, further contributing to the bearish stance. Daily moving averages are mildly bearish, and the KST shows a bullish weekly but mildly bearish monthly trend. Bollinger Bands indicate a mildly bullish stance on both weekly and monthly time frames. Overall, the current technical stance is mildly bearish, driven primarily by the bearish weekly RSI and the daily moving averages.

Has United Spirits Ltd declared dividend?

Yes, United Spirits Ltd has declared a dividend of 300%, amounting to ₹8 per share, with an ex-date of January 27, 2026. While recent total returns have been negative, the company has shown significant growth over the longer term, particularly a total return of 114.78% over the past five years.

United Spirits Ltd has declared a dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 300%<BR>- Amount per share: 8<BR>- Ex-date: 27 Jan 26<BR><BR>Dividend Yield: 0.91%<BR><BR>Total Returns by Period:<BR>In the last 3 months, the price return was -3.0%, the dividend return was 0.44%, resulting in a total return of -2.56%.<BR><BR>Over the last 6 months, the price return was -3.7%, the dividend return was 1.07%, leading to a total return of -2.63%.<BR><BR>In the past year, the price return was -7.99%, the dividend return was 1.29%, culminating in a total return of -6.7%.<BR><BR>For the 2-year period, the price return was 18.96%, the dividend return was 2.13%, resulting in a total return of 21.09%.<BR><BR>In the last 3 years, the price return was 60.43%, the dividend return was 3.46%, leading to a total return of 63.89%.<BR><BR>Over the 4-year period, the price return was 46.7%, the dividend return was 3.20%, culminating in a total return of 49.9%.<BR><BR>In the last 5 years, the price return was 110.03%, the dividend return was 4.75%, resulting in a total return of 114.78%.<BR><BR>Overall, United Spirits Ltd has declared a substantial dividend, and while the recent total returns over shorter periods have shown negative trends, the longer-term returns indicate significant growth, particularly in the 5-year period.

When is the next results date for United Spirits Ltd?

The next results date for United Spirits Ltd is 14 May 2026.

The next results date for United Spirits Ltd is scheduled for 14 May 2026.

Are United Spirits Ltd latest results good or bad?

United Spirits Ltd's latest results show strong profit growth with a net profit of ₹539 crore for Q4 FY26, up 28.03% year-on-year, but revenue growth was modest at 3.67% and declined 17.26% sequentially, raising concerns about rising interest costs and future performance. Overall, the results are positive for profitability but highlight challenges in revenue growth and cost management.

United Spirits Ltd's latest results present a mixed picture. On one hand, the company reported a net profit of ₹539 crore for Q4 FY26, which reflects a robust year-on-year growth of 28.03%. This strong profit growth is indicative of improved operational efficiency and effective cost management, as evidenced by an increase in the profit after tax (PAT) margin to 18.60% from 15.55% in the same quarter last year.<BR><BR>On the other hand, the revenue for the same quarter was ₹3,054 crore, showing only a modest year-on-year growth of 3.67%, but a significant sequential decline of 17.26% from the previous quarter. This drop in revenue is somewhat typical for the beverage industry, as the festive quarter usually outperforms the following periods.<BR><BR>Additionally, while the operating margin improved to 19.42%, there are concerns regarding rising interest costs, which surged to ₹69 crore compared to ₹22 crore in the same quarter last year. This increase raises questions about the company's working capital management.<BR><BR>Overall, while the profit figures are encouraging and demonstrate strong capital efficiency with a return on equity of 20.74%, the decline in revenue and rising interest expenses suggest that the company faces challenges that could impact its future performance. Thus, the results can be seen as good in terms of profitability but concerning in terms of revenue growth and cost management.

Should I buy, sell or hold United Spirits Ltd?

Which are the latest news on United Spirits?

Why is United Spirits Ltd falling/rising?

As of 24-May, United Spirits Ltd's stock price has risen to 1,283.45 after a trend reversal, but it still underperforms its sector and shows declining investor interest. Despite a recent uptick, the stock has significantly declined over the past year and is considered expensive relative to peers.

As of 24-May, United Spirits Ltd is experiencing a rise in its stock price, currently at 1,283.45, with a change of 10.65 (0.84%) upward. This increase comes after a trend reversal, as the stock has gained following four consecutive days of decline. However, it is important to note that despite this recent uptick, the stock has underperformed its sector by 1.08% today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally weaker performance over a longer period.<BR><BR>Investor participation appears to be declining, as evidenced by a decrease in delivery volume, which fell by 1.86% against the 5-day average. This suggests that while the stock is currently rising, there may be underlying concerns regarding sustained interest from investors. <BR><BR>On a broader scale, the stock has shown a significant decline over the past year, with a return of -18.40%, which is considerably worse than the market's overall performance. The company's financial metrics indicate a high valuation relative to its peers, with a Price to Book Value of 10.4, suggesting that it may be perceived as expensive. Despite a healthy long-term growth rate in operating profit of 24.05% annually, the stock's performance has not aligned with these positive indicators, leading to a complex picture of its current rise amidst a backdrop of overall decline.