United Spirits Ltd: Share Price Analysis, Intrinsic Value & Fundamentals (2025)

Share Price and Basic Stock Data

Last Updated: March 8, 2025, 1:08 pm

Market Cap	94,875 Cr.
Current Price	1,305
High / Low	1,314/866
Stock P/E	66.8
Book Value	97.9
Dividend Yield	0.69 %
ROCE	28.7 %
ROE	21.7 %
Face Value	2.00
PEG Ratio	4.08

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for United Spirits Ltd

Competitors of United Spirits Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
United Spirits Ltd	94,875 Cr.	1,305	1,314/866	66.8	97.9	0.69 %	28.7 %	21.7 %	2.00
United Breweries Ltd	50,827 Cr.	1,922	2,300/1,667	116	160	0.52 %	13.5 %	10.1 %	1.00
Tilaknagar Industries Ltd	4,916 Cr.	254	457/182	25.6	38.5	0.20 %	22.0 %	24.6 %	10.0
Som Distilleries & Breweries Ltd	2,426 Cr.	124	149/86.5	24.1	31.5	0.00 %	19.4 %	18.4 %	2.00
Radico Khaitan Ltd	29,368 Cr.	2,195	2,638/1,429	94.4	187	0.14 %	13.2 %	11.3 %	2.00
Industry Average	18,995.90 Cr	943.40		55.45	216.27	0.29%	17.17%	15.77%	6.70

All Competitor Stocks of United Spirits Ltd

Quarterly Result

Metric	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	2,673	2,230	1,722	2,508	2,947	2,536	2,419	2,911	2,779	2,503	2,668	2,867	3,002
Expenses	2,216	1,834	1,533	2,038	2,429	2,104	2,047	2,474	2,407	2,268	1,955	2,401	2,516
Operating Profit	457	396	188	469	519	432	372	437	372	235	713	466	486
OPM %	17%	18%	11%	19%	18%	17%	15%	15%	13%	9%	27%	16%	16%
Other Income	39	-5	-38	4	0	-97	-12	389	-127	0	5	71	52
Interest	43	33	25	7	39	16	22	21	24	36	4	26	16
Depreciation	79	77	74	76	76	77	83	66	65	69	74	65	63
Profit before tax	374	281	51	390	404	241	254	739	155	130	639	446	459
Tax %	25%	28%	2%	27%	27%	26%	-3%	26%	-38%	21%	25%	24%	24%
Net Profit	280	203	50	286	295	179	261	548	214	103	477	339	350
EPS in Rs	3.95	2.87	0.76	4.02	4.12	2.50	3.66	7.61	2.95	1.41	6.55	4.66	4.81

Last Updated: Unknown

Below is a detailed analysis of the quarterly data for United Spirits Ltd based on the most recent figures (Dec 2023) and their trends compared to the previous period:

For Sales, as of Dec 2023, the value is ₹3,002.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,867.00 Cr. (Sep 2023) to ₹3,002.00 Cr., marking an increase of ₹135.00 Cr..
For Expenses, as of Dec 2023, the value is ₹2,516.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2,401.00 Cr. (Sep 2023) to ₹2,516.00 Cr., marking an increase of ₹115.00 Cr..
For Operating Profit, as of Dec 2023, the value is ₹486.00 Cr.. The value appears strong and on an upward trend. It has increased from 466.00 Cr. (Sep 2023) to ₹486.00 Cr., marking an increase of ₹20.00 Cr..
For OPM %, as of Dec 2023, the value is 16.00%. The value remains steady. There is no change compared to the previous period (Sep 2023) which recorded 16.00%.
For Other Income, as of Dec 2023, the value is ₹52.00 Cr.. The value appears to be declining and may need further review. It has decreased from 71.00 Cr. (Sep 2023) to ₹52.00 Cr., marking a decrease of 19.00 Cr..
For Interest, as of Dec 2023, the value is ₹16.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 26.00 Cr. (Sep 2023) to ₹16.00 Cr., marking a decrease of 10.00 Cr..
For Depreciation, as of Dec 2023, the value is ₹63.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 65.00 Cr. (Sep 2023) to ₹63.00 Cr., marking a decrease of 2.00 Cr..
For Profit before tax, as of Dec 2023, the value is ₹459.00 Cr.. The value appears strong and on an upward trend. It has increased from 446.00 Cr. (Sep 2023) to ₹459.00 Cr., marking an increase of ₹13.00 Cr..
For Tax %, as of Dec 2023, the value is 24.00%. The value remains steady. There is no change compared to the previous period (Sep 2023) which recorded 24.00%.
For Net Profit, as of Dec 2023, the value is ₹350.00 Cr.. The value appears strong and on an upward trend. It has increased from 339.00 Cr. (Sep 2023) to ₹350.00 Cr., marking an increase of ₹11.00 Cr..
For EPS in Rs, as of Dec 2023, the value is 4.81. The value appears strong and on an upward trend. It has increased from ₹4.66 (Sep 2023) to 4.81, marking an increase of ₹0.15.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Sales	10,378	10,508	9,254	8,495	8,818	8,591	9,341	9,325	8,131	9,712	10,612	11,321
Expenses	9,287	13,876	9,619	8,162	7,826	7,381	7,947	7,756	7,080	8,117	9,208	9,321
Operating Profit	1,091	-3,368	-366	333	991	1,209	1,394	1,569	1,051	1,595	1,404	2,000
OPM %	11%	-32%	-4%	4%	11%	14%	15%	17%	13%	16%	13%	18%
Other Income	146	681	-360	648	-265	172	70	89	-25	-117	262	208
Interest	985	1,323	687	457	375	278	237	212	188	88	104	76
Depreciation	178	203	223	157	189	192	215	285	299	304	282	275
Profit before tax	73	-4,213	-1,635	366	163	912	1,012	1,160	540	1,087	1,279	1,857
Tax %	244%	-7%	-3%	61%	43%	28%	32%	47%	33%	25%	12%	24%
Net Profit	-105	-4,489	-1,687	143	93	652	684	621	362	811	1,126	1,408
EPS in Rs	-1.55	-61.78	-23.23	1.90	1.38	8.72	9.64	9.07	5.28	11.40	15.62	19.36
Dividend Payout %	-31%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-4175.24%	62.42%	108.48%	-34.97%	601.08%	4.91%	-9.21%	-41.71%	124.03%	38.84%	25.04%
Change in YoY Net Profit Growth (%)	0.00%	4237.66%	46.06%	-143.44%	636.04%	-596.17%	-14.12%	-32.50%	165.74%	-85.19%	-13.80%

United Spirits Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: Unknown

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	126	126	145	145	145	145	145	145	145	145	145	146	146
Reserves	4,536	4,661	2,887	514	1,489	1,640	2,274	2,945	3,583	3,974	4,808	5,854	6,665
Borrowings	8,164	8,242	8,307	4,987	4,242	4,144	3,421	2,883	2,570	1,037	605	183	203
Other Liabilities	3,031	3,453	3,518	2,242	2,452	2,967	3,086	3,135	2,546	3,354	3,304	3,534	4,011
Total Liabilities	15,857	16,483	14,858	7,889	8,329	8,896	8,926	9,109	8,844	8,511	8,863	9,716	11,025
Fixed Assets	7,881	7,869	5,700	1,921	1,887	1,917	1,791	1,841	1,956	1,893	1,855	1,534	1,564
CWIP	108	131	110	114	282	199	102	118	121	97	96	83	60
Investments	236	218	238	216	77	0	0	25	22	-0	222	286	1,298
Other Assets	7,632	8,265	8,810	5,637	6,084	6,780	7,033	7,124	6,745	6,521	6,690	7,814	8,103
Total Assets	15,857	16,483	14,858	7,889	8,329	8,896	8,926	9,109	8,844	8,511	8,863	9,716	11,025

Below is a detailed analysis of the balance sheet data for United Spirits Ltd based on the most recent figures (Sep 2023) and their trends compared to the previous period:

For Equity Capital, as of Sep 2023, the value is ₹146.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2023) which recorded ₹146.00 Cr..
For Reserves, as of Sep 2023, the value is ₹6,665.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹5,854.00 Cr. (Mar 2023) to ₹6,665.00 Cr., marking an increase of 811.00 Cr..
For Borrowings, as of Sep 2023, the value is ₹203.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from ₹183.00 Cr. (Mar 2023) to ₹203.00 Cr., marking an increase of 20.00 Cr..
For Other Liabilities, as of Sep 2023, the value is ₹4,011.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹3,534.00 Cr. (Mar 2023) to ₹4,011.00 Cr., marking an increase of 477.00 Cr..
For Total Liabilities, as of Sep 2023, the value is ₹11,025.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹9,716.00 Cr. (Mar 2023) to ₹11,025.00 Cr., marking an increase of 1,309.00 Cr..
For Fixed Assets, as of Sep 2023, the value is ₹1,564.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹1,534.00 Cr. (Mar 2023) to ₹1,564.00 Cr., marking an increase of 30.00 Cr..
For CWIP, as of Sep 2023, the value is ₹60.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹83.00 Cr. (Mar 2023) to ₹60.00 Cr., marking a decrease of 23.00 Cr..
For Investments, as of Sep 2023, the value is ₹1,298.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹286.00 Cr. (Mar 2023) to ₹1,298.00 Cr., marking an increase of 1,012.00 Cr..
For Other Assets, as of Sep 2023, the value is ₹8,103.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹7,814.00 Cr. (Mar 2023) to ₹8,103.00 Cr., marking an increase of 289.00 Cr..
For Total Assets, as of Sep 2023, the value is ₹11,025.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹9,716.00 Cr. (Mar 2023) to ₹11,025.00 Cr., marking an increase of 1,309.00 Cr..

Notably, the Reserves (₹6,665.00 Cr.) exceed the Borrowings (203.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

No data available for this post.

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-7.00	-11.00	-370.00	329.00	987.00	-2.00	-1.00	-1.00	0.00	-604.00	-182.00	2.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	71	85	79	69	99	122	115	99	89	98	89	84
Inventory Days	315	247	185	123	150	226	263	235	199	254	229	193
Days Payable	228	186	115	56	78	144	195	171	124	176	168	154
Cash Conversion Cycle	158	146	148	136	171	205	183	163	165	177	150	122
Working Capital Days	89	55	96	83	99	98	86	74	58	59	57	54
ROCE %	10%	8%	-24%	-3%	15%	15%	18%	20%	21%	14%	25%	20%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Promoters	56.76%	56.76%	56.73%	56.73%	56.73%	56.73%	56.74%	56.74%	56.68%	56.68%	56.68%	56.68%
FIIs	18.88%	18.98%	19.08%	17.94%	17.73%	16.76%	16.07%	15.98%	15.38%	15.92%	16.51%	16.23%
DIIs	7.98%	8.21%	9.65%	10.41%	10.41%	10.85%	11.61%	12.08%	12.70%	12.64%	12.32%	12.49%
Government	1.73%	1.73%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	14.66%	14.33%	14.53%	14.92%	15.12%	15.65%	15.58%	15.20%	15.24%	14.77%	14.49%	14.60%
No. of Shareholders	1,87,139	1,83,411	1,91,699	2,34,926	2,41,111	2,52,264	2,74,307	2,58,189	2,68,993	2,49,395	2,49,741	2,64,583

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Franklin India Flexi Cap Fund	3,600,000	2.77	392.31	739,311	2025-03-06	386.94%
SBI Balanced Advantage Fund	2,242,500	0.89	244.38	739,311	2025-03-06	203.32%
SBI Contra Fund	1,907,565	0.88	207.88	739,311	2025-03-06	158.02%
Nippon India ELSS Tax Saver Fund	1,700,000	1.31	185.26	739,311	2025-03-06	129.94%
Franklin India ELSS Tax Saver Fund	1,650,000	2.98	179.81	739,311	2025-03-06	123.18%
Canara Robeco Bluechip Equity Fund	1,345,000	1.24	146.57	739,311	2025-03-06	81.93%
UTI MNC Fund	1,300,000	5.2	141.67	739,311	2025-03-06	75.84%
UTI Large Cap Fund	739,311	0.67	80.57	739,311	2025-03-06	0%
Nippon India ETF Nifty Next 50 Junior BeES	736,246	1.9	80.23	739,311	2025-03-06	-0.41%
Canara Robeco Equity Hybrid Fund	650,000	0.73	70.83	739,311	2025-03-06	-12.08%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	19.83	16.01	11.68	5.41	9.29
Diluted EPS (Rs.)	19.83	16.01	11.68	5.41	9.29
Cash EPS (Rs.)	23.23	19.38	15.34	9.12	12.51
Book Value[Excl.RevalReserv]/Share (Rs.)	98.22	82.47	67.10	55.87	50.75
Book Value[Incl.RevalReserv]/Share (Rs.)	98.22	82.47	67.10	55.87	50.75
Revenue From Operations / Share (Rs.)	156.15	145.86	133.69	111.92	128.36
PBDIT / Share (Rs.)	30.70	20.48	22.62	15.04	21.94
PBIT / Share (Rs.)	26.91	16.60	18.44	10.92	18.02
PBT / Share (Rs.)	25.63	17.59	14.96	7.45	16.02
Net Profit / Share (Rs.)	19.43	15.49	11.16	5.00	8.59
NP After MI And SOA / Share (Rs.)	19.42	15.62	11.41	5.28	9.07
PBDIT Margin (%)	19.66	14.04	16.92	13.43	17.09
PBIT Margin (%)	17.23	11.37	13.79	9.75	14.03
PBT Margin (%)	16.41	12.06	11.18	6.65	12.47
Net Profit Margin (%)	12.44	10.62	8.34	4.46	6.69
NP After MI And SOA Margin (%)	12.43	10.70	8.53	4.71	7.06
Return on Networth / Equity (%)	19.77	18.93	16.72	9.31	17.67
Return on Capital Employeed (%)	26.55	19.67	26.41	18.88	33.93
Return On Assets (%)	12.51	11.64	9.29	4.49	7.44
Total Debt / Equity (X)	0.00	0.00	0.06	0.21	0.43
Asset Turnover Ratio (%)	1.08	1.12	1.11	0.92	1.03
Current Ratio (X)	1.89	1.72	1.35	1.11	0.97
Quick Ratio (X)	1.36	1.10	0.78	0.63	0.58
Inventory Turnover Ratio (X)	2.45	2.43	2.32	2.04	2.45
Interest Coverage Ratio (X)	29.29	14.34	18.68	5.82	7.52
Interest Coverage Ratio (Post Tax) (X)	19.76	10.15	12.09	3.28	3.63
Enterprise Value (Cr.)	80992.75	54142.26	64690.27	41154.36	36744.78
EV / Net Operating Revenue (X)	7.15	5.10	6.66	5.06	3.94
EV / EBITDA (X)	36.38	36.34	39.36	37.68	23.05
MarketCap / Net Operating Revenue (X)	7.26	5.19	6.64	4.97	3.78
Price / BV (X)	11.55	9.17	13.02	9.81	9.45
Price / Net Operating Revenue (X)	7.26	5.19	6.64	4.97	3.78
EarningsYield	0.01	0.02	0.01	0.01	0.01

After reviewing the key financial ratios for United Spirits Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
For Basic EPS (Rs.), as of Mar 24, the value is 19.83. This value is within the healthy range. It has increased from 16.01 (Mar 23) to 19.83, marking an increase of 3.82.
For Diluted EPS (Rs.), as of Mar 24, the value is 19.83. This value is within the healthy range. It has increased from 16.01 (Mar 23) to 19.83, marking an increase of 3.82.
For Cash EPS (Rs.), as of Mar 24, the value is 23.23. This value is within the healthy range. It has increased from 19.38 (Mar 23) to 23.23, marking an increase of 3.85.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 98.22. It has increased from 82.47 (Mar 23) to 98.22, marking an increase of 15.75.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 98.22. It has increased from 82.47 (Mar 23) to 98.22, marking an increase of 15.75.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 156.15. It has increased from 145.86 (Mar 23) to 156.15, marking an increase of 10.29.
For PBDIT / Share (Rs.), as of Mar 24, the value is 30.70. This value is within the healthy range. It has increased from 20.48 (Mar 23) to 30.70, marking an increase of 10.22.
For PBIT / Share (Rs.), as of Mar 24, the value is 26.91. This value is within the healthy range. It has increased from 16.60 (Mar 23) to 26.91, marking an increase of 10.31.
For PBT / Share (Rs.), as of Mar 24, the value is 25.63. This value is within the healthy range. It has increased from 17.59 (Mar 23) to 25.63, marking an increase of 8.04.
For Net Profit / Share (Rs.), as of Mar 24, the value is 19.43. This value is within the healthy range. It has increased from 15.49 (Mar 23) to 19.43, marking an increase of 3.94.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 19.42. This value is within the healthy range. It has increased from 15.62 (Mar 23) to 19.42, marking an increase of 3.80.
For PBDIT Margin (%), as of Mar 24, the value is 19.66. This value is within the healthy range. It has increased from 14.04 (Mar 23) to 19.66, marking an increase of 5.62.
For PBIT Margin (%), as of Mar 24, the value is 17.23. This value is within the healthy range. It has increased from 11.37 (Mar 23) to 17.23, marking an increase of 5.86.
For PBT Margin (%), as of Mar 24, the value is 16.41. This value is within the healthy range. It has increased from 12.06 (Mar 23) to 16.41, marking an increase of 4.35.
For Net Profit Margin (%), as of Mar 24, the value is 12.44. This value exceeds the healthy maximum of 10. It has increased from 10.62 (Mar 23) to 12.44, marking an increase of 1.82.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 12.43. This value is within the healthy range. It has increased from 10.70 (Mar 23) to 12.43, marking an increase of 1.73.
For Return on Networth / Equity (%), as of Mar 24, the value is 19.77. This value is within the healthy range. It has increased from 18.93 (Mar 23) to 19.77, marking an increase of 0.84.
For Return on Capital Employeed (%), as of Mar 24, the value is 26.55. This value is within the healthy range. It has increased from 19.67 (Mar 23) to 26.55, marking an increase of 6.88.
For Return On Assets (%), as of Mar 24, the value is 12.51. This value is within the healthy range. It has increased from 11.64 (Mar 23) to 12.51, marking an increase of 0.87.
For Total Debt / Equity (X), as of Mar 24, the value is 0.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 0.00.
For Asset Turnover Ratio (%), as of Mar 24, the value is 1.08. It has decreased from 1.12 (Mar 23) to 1.08, marking a decrease of 0.04.
For Current Ratio (X), as of Mar 24, the value is 1.89. This value is within the healthy range. It has increased from 1.72 (Mar 23) to 1.89, marking an increase of 0.17.
For Quick Ratio (X), as of Mar 24, the value is 1.36. This value is within the healthy range. It has increased from 1.10 (Mar 23) to 1.36, marking an increase of 0.26.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 2.45. This value is below the healthy minimum of 4. It has increased from 2.43 (Mar 23) to 2.45, marking an increase of 0.02.
For Interest Coverage Ratio (X), as of Mar 24, the value is 29.29. This value is within the healthy range. It has increased from 14.34 (Mar 23) to 29.29, marking an increase of 14.95.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 19.76. This value is within the healthy range. It has increased from 10.15 (Mar 23) to 19.76, marking an increase of 9.61.
For Enterprise Value (Cr.), as of Mar 24, the value is 80,992.75. It has increased from 54,142.26 (Mar 23) to 80,992.75, marking an increase of 26,850.49.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 7.15. This value exceeds the healthy maximum of 3. It has increased from 5.10 (Mar 23) to 7.15, marking an increase of 2.05.
For EV / EBITDA (X), as of Mar 24, the value is 36.38. This value exceeds the healthy maximum of 15. It has increased from 36.34 (Mar 23) to 36.38, marking an increase of 0.04.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 7.26. This value exceeds the healthy maximum of 3. It has increased from 5.19 (Mar 23) to 7.26, marking an increase of 2.07.
For Price / BV (X), as of Mar 24, the value is 11.55. This value exceeds the healthy maximum of 3. It has increased from 9.17 (Mar 23) to 11.55, marking an increase of 2.38.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 7.26. This value exceeds the healthy maximum of 3. It has increased from 5.19 (Mar 23) to 7.26, marking an increase of 2.07.
For EarningsYield, as of Mar 24, the value is 0.01. This value is below the healthy minimum of 5. It has decreased from 0.02 (Mar 23) to 0.01, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of United Spirits Ltd as of March 8, 2025 is: ₹1,143.13

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 8, 2025, United Spirits Ltd is Overvalued by 12.40% compared to the current share price 1,305.00

Intrinsic Value of United Spirits Ltd as of March 8, 2025 is: 1,330.32

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 8, 2025, United Spirits Ltd is Undervalued by 1.94% compared to the current share price 1,305.00

Last 5 Year EPS CAGR: 16.37%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (9.08 cr) and profit (171.17 cr) over the years.	The stock has a low average ROCE of 11.58%, which may not be favorable. The stock has a high average Working Capital Days of 75.67, which may not be favorable. The stock has a high average Cash Conversion Cycle of 160.33, which may not be favorable. The company has higher borrowings (3,768.31) compared to reserves (3,525.38), which may suggest financial risk.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in United Spirits Ltd:
1. Net Profit Margin: 12.44%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 26.55% (Industry Average ROCE: 17.17%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 19.77% (Industry Average ROE: 15.77%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 19.76
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.36
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 66.8 (Industry average Stock P/E: 55.45)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

United Spirits Ltd. is a Public Limited Listed company incorporated on 31/03/1999 and has its registered office in the State of Karnataka, India. Company's Corporate Identification Number(CIN) is L01551KA1999PLC024991 and registration number is 024991. Currently Company is involved in the business activities of Distilling, rectifying and blending of spirits; ethyl alcohol production from fermented materials. Company's Total Operating Revenue is Rs. 10692.00 Cr. and Equity Capital is Rs. 145.00 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Beverages & Distilleries	UB Tower, Bengaluru Karnataka 560001	investor.india@diageo.com http://www.diageoindia.com

Management
Name	Position Held
Mr. Mahendra Kumar Sharma	Chairman & Ind.Director
Ms. Hina Nagarajan	Managing Director & CEO
Mr. Pradeep Jain	Executive Director & CFO
Mr. Mark Dominic Sandys	Non Executive Director
Ms. Mamta Sundara	Non Executive Director
Ms. Emily Kathryn Gibson	Non Executive Director
Mr. V K Viswanathan	Independent Director
Dr.(Mrs.) Indu Shahani	Independent Director
Mr. D Sivanandhan	Independent Director
Mr. Rajeev Gupta	Independent Director
Dr. Indu Bhushan	Independent Director
Mr. Mukesh Hari Butani	Independent Director

FAQ

What is the latest intrinsic value of United Spirits Ltd?

The latest intrinsic value of United Spirits Ltd as on 27 January 2025 is ₹1143.13, which is 12.40% lower than the current market price of ₹1,305.00. The stock has a market capitalization of 94,875 Cr. and recorded a high/low of 1,314/866 during the current fiscal year 2024-2025. As of Sep 2023, the company has reserves of ₹6,665 Cr and total liabilities of 11,025 Cr.

What is the Market Cap of United Spirits Ltd?

The Market Cap of United Spirits Ltd is 94,875 Cr..

What is the current Stock Price of United Spirits Ltd as on 27 January 2025?

The current stock price of United Spirits Ltd as on 27 January 2025 is 1,305.

What is the High / Low of United Spirits Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of United Spirits Ltd stocks is 1,314/866.

What is the Stock P/E of United Spirits Ltd?

The Stock P/E of United Spirits Ltd is 66.8.

What is the Book Value of United Spirits Ltd?

The Book Value of United Spirits Ltd is 97.9.

What is the Dividend Yield of United Spirits Ltd?

The Dividend Yield of United Spirits Ltd is 0.69 %.

What is the ROCE of United Spirits Ltd?

The ROCE of United Spirits Ltd is 28.7 %.

What is the ROE of United Spirits Ltd?

The ROE of United Spirits Ltd is 21.7 %.

What is the Face Value of United Spirits Ltd?

The Face Value of United Spirits Ltd is 2.00.