United Spirits Ltd gained for a third straight session today. The stock is quoting at Rs 858.6, up 2.06% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.67% on the day, quoting at 18443.15. The Sensex is at 62289.24, up 0.67%. United Spirits Ltd has risen around 11.83% in last one month.

Meanwhile, Nifty Financial Services index of which United Spirits Ltd is a constituent, has risen around 5.88% in last one month and is currently quoting at 49657, up 0.98% on the day. The volume in the stock stood at 12.99 lakh shares today, compared to the daily average of 9.16 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 863.35, up 2% on the day. United Spirits Ltd is up 10.39% in last one year as compared to a 12.79% spurt in NIFTY and a 31.12% spurt in the Nifty Financial Services index.

The PE of the stock is 66.94 based on TTM earnings ending March 23.

Powered by Capital Market - Live News

Net sales fell marginally on a year on year basis to Rs 2,493.80 crore in the quarter ended 31 March 2023.

Rebased net sales value (NSV) increased 15.6% reflecting a strong quarter driven by continued momentum in the off-trade and on-trade along with normalisation of BIO Supplies.

Prestige & Above segment net sales grew 23.2% with strong double-digit growth buoyed by continued momentum in our innovation & renovation offerings.

Profit before exceptional items and tax slipped 28.71% to Rs 250.5 crore in Q4 FY23 from Rs 351.4 crore in Q4 FY22.

Exceptional items comprised of profit on sale of business undertaking of Rs 1.9 crore, impairment of investment/recoverable value in a subsidiary for Rs 0.6 crore and supply restructuring cost of Rs 8.7 crore.

EBITDA de-grew to Rs 338 crore in Q4 FY23, sliding 6.63% year on year and EBITDA margin slipped to 13.6%, down 322 basis points (bps); primarily driven by the gross margin contraction, higher A&P partly offset by a one-off credit on account of reversal of indirect tax provisions.

Underlying gross margin, after adjusting for a one-off credit on account of reversal of indirect tax provisions, stood at 42.6%, down 225 bps from last year.

A&P re-investment rate during the quarter was 13.8% of sales largely reflecting the high spend on the BIO portfolio that normalised on market supplies after three quarters, said the company.

On full year basis, the IMFL maker recorded a 23.6% rise in net profit to Rs 1,051.70 crore on a 10.1% increase in net sales to Rs 10,373.70 crore in FY23 over FY22.

Hina Nagarajan, managing director & chief executive officer (CEO) of United Spirits said, “The steppedup contribution in growth from the upper and mid prestige segments lend credence to our portfolio reshape strategy. This comes on the back of the successful closure of the slump sale and franchising of the strategically reviewed popular portfolio during the year. The supply chain agility programme, announced last quarter, is progressing well, in line with our overall strategy.

Looking ahead, our core focus remains on continuing the growth momentum, while being more agile as an organisation, with simplified supply chain & legal entity footprint.”

United Spirits is the country's leading beverage alcohol company and a subsidiary of global leader Diageo plc. The company manufactures, sells and distributes a portfolio of premium brands.

Powered by Capital Market - Live News

Net profit of United Spirits declined 43.42% to Rs 102.80 crore in the quarter ended March 2023 as against Rs 181.70 crore during the previous quarter ended March 2022. Sales declined 1.30% to Rs 2502.80 crore in the quarter ended March 2023 as against Rs 2535.70 crore during the previous quarter ended March 2022.

For the full year,net profit rose 37.13% to Rs 1136.30 crore in the year ended March 2023 as against Rs 828.60 crore during the previous year ended March 2022. Sales rose 9.26% to Rs 10611.60 crore in the year ended March 2023 as against Rs 9712.40 crore during the previous year ended March 2022.

Powered by Capital Market - Live News

United Spirits announced the resignation of John Thomas Kennedy as non-executive non-independent director from the Board of directors of the Company consequent to his resignation from the employment of Diageo group. The resignation will be effective from 30 June 2023.

Powered by Capital Market - Live News