1. India Stocks

  2. •

    Consumer Defensive

  3. •

    Beverages - Wineries & Distilleries
United Spirits Limited

United Spirits Limited

UNITDSPR.BO
United Spirits LimitedIN flagBombay Stock Exchange
1,440.45
INR
+14.55
- -
1.05TMarket Cap
United Spirits Limited
UNITDSPR.BO
(Bombay Stock Exchange)

Recent

price

1,440.45

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
117.2
145.97
165.43
148.24
126.05
118.05
123.26
117.99
130.96
130.8
114.16
136.11
148.73
158.57
162.99
175.61
172.42
Revenue per Share
9.05
2.99
-1.61
-63.37
-23.23
1.95
1.41
8.94
9.87
9.29
5.41
11.68
16.02
19.83
22.28
25.89
21.32
Basic EPS, GAAP
-6.23
1.16
26.67
-11.7
-5.58
-0.31
4.73
10.44
10.93
8.06
23.18
11.89
6.74
14.37
25.14
18
- -
Free Cash Flow per Basic Share
0.57
0.53
0.53
0.51
0.01
- -
- -
- -
- -
- -
- -
- -
- -
4
5
17.79
- -
Dividend per Share
12.94
14.52
11.58
-52.8
-75.92
-63.95
-61.74
-52.65
-43.29
-34.38
-28.9
-17.05
-2.3
13.51
27.32
2.04
- -
Book Value per Share
-11.46
-18.84
-16.53
-6.73
12.32
15.93
18.64
28.38
37.33
46.03
51.51
63.27
79.28
95.36
109.48
124.32
- -
Tangible Book Value per Share
629
629
629
708
727
709
709
709
709
709
709
709
710
710
710
710
710
Basic Weighted Avg Shares
73,762
91,865
104,115
105,009
91,594
83,737
87,434
83,698
92,894
92,779
80,979
96,547
105,540
112,590
115,730
124,670
122,440
Sales/Revenue/Turnover
14.12
10.61
11.09
-3.16
3.82
16.76
9.01
11.95
12.69
13.8
9.31
13.51
10.75
15.34
15.43
16.02
15.82
Operating Margin (%)
1,023
1,474
1,784
2,026
2,229
1,572
1,886
1,923
2,147
2,920
2,991
3,038
2,820
2,750
2,740
2,890
2,870
Depreciation Expense
5,695
1,879
-1,012
-44,891
-16,877
1,383
1,001
6,338
7,002
6,589
3,836
8,286
11,370
14,080
15,820
18,380
15,140
Net Income, GAAP
31.87
44.17
- -
- -
- -
60.84
42.84
28.5
32.43
46.51
32.94
25.4
11.96
24.18
25.9
22.98
26.18
Effective Tax Rate (%)
7.72
2.05
-0.97
-42.75
-18.43
1.65
1.14
7.57
7.54
7.1
4.74
8.58
10.77
12.51
13.67
14.74
12.37
Profit Margin (%)
-12,705
4,810
-4,529
-34,393
-11,428
-5,632
-4,498
-158
760
-1,235
4,653
13,251
26,100
34,740
44,800
54,180
- -
Working Capital
24,612
48,935
45,257
7,765
11,117
7,305
8,697
7,628
7,804
1,350
947
1,350
800
1,370
3,340
3,080
- -
LT Debt
41,961
46,764
47,984
30,330
14,682
16,403
17,831
24,327
30,872
36,867
40,589
48,748
59,990
71,210
81,040
89,570
- -
Total Equity
8.23
5.26
- -
- -
- -
8.42
7.08
11.44
12.7
10.65
7.9
15.06
14.62
17.55
15.37
15.97
- -
Return on Invested Capital (%)
16.91
9.58
- -
- -
- -
-75.58
-121.5
-304.96
-359.46
-1,513.71
-107.58
-103.85
-374.15
235.63
90.45
131.43
371.46
Return on Capital (%)
99.83
21.75
-12.32
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
109.14
176.31
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
1,460
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
3,340
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
710
- -
Market Capitalization
1,154,178
995,282
1,014,273

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
92,020
- -
Cash, Cash Equivalents & STI
- -
25,630
- -
Accounts Receivable, Net
- -
34,100
- -
Inventories
- -
23,050
- -
Total Current Liabilities
- -
47,220
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,460
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.77%
17.24%
10.53%
Free Cash Flow
-127.18%
13.59%
-28.4%
Net Income, GAAP
67.4%
41.12%
16.18%
Sales/Revenue/Turnover
4.4%
9.14%
7.72%
Total Cash Common Dividend
- -
- -
255.77%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
26,670
28,690
30,020
27,217
112,590
2025
27,610
28,440
34,330
29,460
115,730
2026
30,210
36,940
30,540
- -
124,670

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6.71
4.78
4.93
- -
19.83
2025
6.83
4.8
4.72
5.93
22.28
2026
5.87
5.88
7.59
- -
25.89

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
4
2025
- -
- -
- -
- -
5
2026
- -
- -
- -
- -
17.79
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Business
United Spirits Limited, a subsidiary of Diageo Plc, manufactures, sells and distributes alcoholic beverages including Scotch whisky, Indian made foreign liquor whisky, brandy, rum, vodka, gin and ready-to-drink products primarily in India with exports to over 37 countries. Core brands encompass McDowell's No.1 whisky, Royal Challenge, Signature, Antiquity, Black Dog, Director's Special Black, Smirnoff vodka, Johnnie Walker Scotch, Captain Morgan rum, Greater Than and Hapusa craft gins; the company operates 36 manufacturing facilities across India and serves popular, premium and luxury segments targeting diverse consumer preferences from mass-market to affluent buyers. Founded in 1826 as McDowell & Company and headquartered in Bengaluru, India, United Spirits recently acquired majority control of NAO Spirits & Beverages Pvt Ltd in June 2025 for Rs 130 crore, increasing its stake from 30% to 97% with full ownership targeted by June 2026 to bolster its craft gin portfolio; it also made strategic minority investments in non-alcoholic startups V9 Beverages and Indie Brews in 2024 while exploring a potential sale of its IPL franchise Royal Challengers Bengaluru amid rising valuations.