United Spirits Ltd Share Price – NSE  /  BSE

Alcoholic Beverages, Mid Cap

United Spirits Ltd is up for a third straight session today. The stock is quoting at Rs 1402.5, up 5.29% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.56% on the day, quoting at 24341.6. The Sensex is at 79865.77, down 0.7%. United Spirits Ltd has gained around 9.41% in last one month.

Meanwhile, Nifty FMCG index of which United Spirits Ltd is a constituent, has gained around 10.41% in last one month and is currently quoting at 62511.25, down 0.65% on the day. The volume in the stock stood at 47.36 lakh shares today, compared to the daily average of 8.79 lakh shares in last one month.

The benchmark July futures contract for the stock is quoting at Rs 1399.95, up 5.24% on the day. United Spirits Ltd is up 42.61% in last one year as compared to a 23.68% jump in NIFTY and a 18.71% jump in the Nifty FMCG index.

The PE of the stock is 76.23 based on TTM earnings ending March 24.

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Revenue from operations (excluding excise duty) stood at Rs 2,352 crore in Q1 FY25, up 8.29% from Rs 2,172 crore recorded in the same period a year ago.

The growth in the net sales was mainly driven by improved footprint & saliency of its innovation and renovation offerings and revenue growth management interventions.

The Prestige & Above segment accounted for 87.8% of net sales during the quarter, up 1.4ppts over the prior year. Prestige & above segment net sales increased 10.1% in Q1 FY25.

The Popular segment accounted for 9.4% of net sales during the first quarter, down 1.0ppt compared to the same period last year. The Popular segment net sales fell 2.4% in Q1 FY25.

Profit before tax jumped 25.94% to Rs 403 crore in Q1 FY25 as compared to Rs 320 crore recorded in Q4 FY24.

EBITDA stood at Rs 458 crore in Q1 FY25, registering a growth of 18.96% YoY. EBITDA margin improved to 19.5% as compared to 17.7% reported in Q1 FY24.

Gross margin was at 44.5% in Q1 FY25, up bps YoY. Excluding the one-off benefit of Rs 13 crore. driven by a write-back in the base quarter, gross margin expanded 145 bps over the previous year on the back of sustained revenue growth management interventions and productivity flow-through.

A&P re-investment rate was 7.4% of sales reflecting the seasonally low quarter for the business however, higher than the prior year comparator, stated by the company in exchange filing.

Interest cost stood at Rs 22 crore in June 2024 quarter. Excluding the one-off reversal benefit of Rs 15 crore in the base quarter, interest cost was up 12.8% versus same period previous year.

Hina Nagarajan, managing director & chief executive officer (CEO) of United Spirits said, “We have commenced fiscal 2025 with a steady performance in the first quarter. Our renovation and innovation offerings are rolling out progressively with an encouraging response.

Looking ahead, we remain focused on enhancing the long-term competitiveness of our portfolio and to sustainably deliver in a soft demand environment and harness every opportunity to create long-term value for all our stakeholders.”

Meanwhile, the company’s board approved an investment in V9 Beverages (Sober) by subscribing to 1,972 compulsory convertible preference shares (CCPS) and 10 equity shares of Sober equivalent to 15% of its issued and paid-up share capital on a fully diluted basis for an aggregate consideration of Rs 2.29 crore.

Further, the firm will also invest in Indie Brews and Spirits (Quaffine) by subscribing to 4,016 compulsory convertible preference shares (CCPS) and 10 equity shares of Quaffine equivalent to 25% of its issued and paidup share capital on a fully diluted basis for an aggregate consideration of Rs 5 crore.

United Spirits is the largest Indian spirits company that manufactures, sells and distributes beverage alcohol, producing and selling around 60 million cases of Scotch whisky, IMFL whisky, brandy, rum, vodka, gin and wine. Its portfolio of over 15 brands includes McDowell's No.1, Royal Challenge, Signature, and Antiquity as well as Diageo’s iconic brands such as Johnnie Walker, VAT 69, Black & White, Smirnoff and Ciroc.

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Net profit of United Spirits rose 1.68% to Rs 485.00 crore in the quarter ended June 2024 as against Rs 477.00 crore during the previous quarter ended June 2023. Sales rose 3.52% to Rs 2761.00 crore in the quarter ended June 2024 as against Rs 2667.00 crore during the previous quarter ended June 2023.

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United Spirits will hold a meeting of the Board of Directors of the Company on 23 July 2024.

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