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Earnings Call Transcript

United Spirits Earnings Call Transcript: Key Takeaways

United Spirits delivers strong double-digit P&A growth driven by Smirnoff's performance, but masks a volume contraction caused by policy headwinds in Maharashtra.

Guidance and delivery
Management target Revenue 12.0% FY27
Highlights
Revenue growthP&A revenue grew 10.1% reported; 14.8% excluding Maharashtra impact.
MarginsEBITDA margin at 16%; pressured by West Asia packaging costs.
Demand visibilityStrong premiumization trends offset by value-segment demand uncertainty.
Management confidenceBalanced; highly optimistic on Scotch but cautious on input inflation.

Growth

P&A revenue grew 14.8% excluding Maharashtra; overall reported P&A volume shrank 1.3%.

Outlook

Management maintains double-digit growth aspirations with 5-6% volume and 6-7% price/mix guidance.

Risks

Inflationary pressures in glass and West Asia crisis impacts; policy-driven volume declines in Maharashtra.

Source

Earnings Call Transcript filed with NSE, NSE: UNITDSPR. Summary written with AI assistance from the document.

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United Spirits Ltd: key numbers

Share price
₹1,423.80
Market cap
₹1,03,560 Cr
Revenue (annual)
₹12,467 Cr
Net profit (annual)
₹1,838 Cr
P/E (TTM)
55.0×Sector 29.0×
Promoter holding
56.67%+0.00% QoQ
FII holding
12.89%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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Acquisition

United Spirits Acquisition Worth ₹2.69 Cr

United Spirits completed its acquisition of a 10.08% stake in Nuvola Spirits Private Limited for an aggregate cash consideration of ₹2.69 Crore.

Value
₹2.69 Cr
16:30 IST BSE
Other Announcement

United Spirits Other Announcement

United Spirits Limited received an ESG score of 75 for 2026 from NSE Sustainability Ratings and Analytics Limited, compared to a score of 73 for 2025.