NSE: UNITDSPR · BSE: 532432 · ISIN INE854D01024
United Spirits Limited stock analysis
United Spirits Limited ranks #1137 in the TickerSutra evidence-ranked universe with a score of 56/100 and 95% data confidence. The latest captured fundamentals show ROCE of 26.4%, quarterly sales growth of -10.4% and quarterly profit growth of -20.5%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 26.4%
- Low debt/equity of 0.05×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
Risks and constraints
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹9,712cr | ₹1,595cr | ₹811cr | 16.0% |
| 2023 | ₹10,612cr | ₹1,417cr | ₹1,126cr | 13.0% |
| 2024 | ₹11,321cr | ₹2,000cr | ₹1,408cr | 18.0% |
| 2025 | ₹12,069cr | ₹2,236cr | ₹1,582cr | 19.0% |
| 2026 | ₹12,467cr | ₹2,279cr | ₹1,838cr | 18.0% |
| TTM | ₹12,626cr | ₹2,295cr | ₹1,884cr | 18.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
United Spirits Limited has informed the Exchange about Resignation of Director/KMP/SMP
RoutineUnited Spirits Ltd - 532432 - Announcement under Regulation 30 (LODR)-Change in ManagementBSE · 29 Sept 2026Resignation by Senior Management Personnel (SMP)
RoutineTrading WindowBSE · 28 Sept 2026United Spirits Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineGeneral UpdatesNSE · 19 Sept 2026United Spirits Limited has informed the Exchange about an intimation regarding completion of investment in Nuvola Spirits Private Limited
RoutineUnited Spirits Ltd - 532432 - Intimation Regarding Completion Of Investment In Nuvola Spirits Private LimitedBSE · 19 Sept 2026Intimation regarding completion of investment in Nuvola Spirits Private Limited
MANAGEMENT COMMENTARY
Signals from filed documents
The Prestige and Above segment remained the cornerstone of our growth strategy, delivering healthy growth and contributing strongly to overall revenues. Gross margins expanded meaningfully through the year, driven by portfolio mix improvement, disciplined revenue growth management, and a largely benign commodity environment. For the full fiscal year FY 2025-26, consolidated net sales reached ` 12,467 Crores, reflecti
Advertising & Promotion (A&P) remained within the guided range, balancing growth investment with profitability discipline. EBITDA growth outpaced revenue growth, reflecting operating leverage, favourable portfolio mix and cost optimisation. Healthy Performance Across Financial Metrics In FY 2025-26, we delivered a strong financial performance driven by premiumisation, revenue growth management (RGM), and disciplined
Adverse policy movements are an ongoing risk for any alcobev business in India. High Taxation and Pricing Pressure: Multiple lay e rs of excise duties, VAT and state surcharges significantly infla te retail prices, which can constrain consumption growth, especially in price-sensitive segments. High taxation also makes premium and imported products less affordable for broad consumer groups.
• White spirits: India is now in the Top 5 mark ets for Smirnoff globally. Smirnoff delivered disruptive growth and market share gains, led by flavoured variants. Don Julio emerged as the fastest 100 Crores brand and continued to drive category growth.
We blend our craft expertise with consumer insight and entrepreneurial partnerships. Dedicated facilities and collaborative platforms enable rapid experimentation, allowing ideas to evolve into differentiated products and formats. The resulting innovation capability supports premiumisation, nurtures emerging craftsmanship, and strengthens our role in elevating the future of Indian spirits.
The Prestige and Above portfolio continued to anchor value creation, strengthening pricing power and operating leverage. Premiumisation Powering Value Creation We remain committed to navigating an evolving competitive and regulatory landscape by staying focused on portfolio and disciplined execution. The net sales salience of the Prestige & Above segment strengthened further, reflecting sustained consumer preference
Pursuant to the announcement dated March 24, 2026, RCSPL has been classified as discontinued operations. The transaction remains subject to approval from the Board of Control for Cricket in India, the Competition Commission of India (CCI) and other applicable regulatory authorities. Consequently, consolidated numbers do not include RCSPL, and prior year numbers have also been restated accordingly.
The approval of the shareholders was received by means of postal ballot on 11th March 2026. Julie Bramham is a global luxury and consumer leader with over 25 years of experience shaping some of the world’s most iconic brands and driving commercial growth across international markets. She brings deep expertise in driving brand and commercial transformation, global go-to-market strategy, innovation, digital and AI-enab
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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