United Spirits Limited

Fast Moving Consumer Goods · Beverages

NSE: UNITDSPR BSE: 532432

₹1354.00

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Beverages

The largest companies in the same industry by market cap. This company ranks #2 of 32. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Varun Beverages Limited	146,115	49.5	13.2%	-2.5%	—	87	3	68
United Spirits Limited (this stock)	98,483	50.2	20.5%	0.5%	1.26%	80	24	28
Radico Khaitan Limited	58,474	84.1	16.8%	49.8%	0.21%	73	31	31
United Breweries Limited	30,621	77.3	9.1%	-35.6%	0.86%	55	0	10
Allied Blenders and Distillers Limited	20,108	73.0	13.1%	35.6%	0.75%	49	0	91
Tilaknagar Industries Limited	13,380	67.7	0.7%	19.5%	—	35	30	49
Piccadily Agro Industries Limited	5,839	40.5	12.9%	-12.3%	0.17%	64	26	63
Globus Spirits Limited	2,287	21.9	6.4%	-26.1%	0.83%	42	65	9

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹97,628 Cr

EV / EBITDA

33.8x

EV / Sales

3.48x

Market cap / Sales

3.51x

Earnings yield

1.99%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 6,335 Cr, up 7.7% YoY.

↑ Positive

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 391 Cr, up 51.6% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	6,113	473	391	₹5.3800
March 31, 2026	6,838	706	571	₹7.8500
Dec. 31, 2025	7,928	654	529	₹7.2700
Sept. 30, 2025	7,192	632	472	₹6.4900
June 30, 2025	5,823	348	258	₹3.5500
March 31, 2025	6,549	585	451	₹6.2000
Dec. 31, 2024	7,731	621	473	₹6.5000
Sept. 30, 2024	6,671	447	335	₹4.6100
June 30, 2024	5,829	403	299	₹4.1100
March 31, 2024	6,394	460	384	₹5.2800
Dec. 31, 2023	6,949	458	348	₹4.7900
Sept. 30, 2023	6,734	448	341	₹
June 30, 2023	5,312	320	238	₹3.2700

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Jun 23	Mar 23
Total income (before exceptional items)	6,335	7,133	8,072	7,268	5,884	6,719	7,921	6,705	5,861	6,623	6,995	5,333	5,800
Operating revenue	6,113	6,838	7,928	7,192	5,823	6,549	7,731	6,671	5,829	6,394	6,949	5,312	5,783
Other income	222	295	144	76	61	170	190	34	32	229	46	21	17
Operating expenses	5,681	6,247	7,310	6,520	5,408	6,044	7,143	6,164	5,371	6,032	6,458	4,927	5,445
Operating profit	432	591	618	672	415	505	588	507	458	362	491	385	338
Operating profit margin	7.1%	8.6%	7.8%	9.3%	7.1%	7.7%	7.6%	7.6%	7.9%	5.7%	7.1%	7.2%	5.8%
Depreciation	70	71	79	65	68	68	72	69	65	71	63	65	68
Interest	30	69	19	21	49	22	20	25	22	29	16	4	36
Exceptional items, gain / (loss)	-81	-40	-10	-30	-11	—	-65	—	—	-31	—	-17	-11
Profit before tax	473	706	654	632	348	585	621	447	403	460	458	320	239
Tax	82	135	125	160	90	134	148	112	104	76	110	81	35
Net profit	391	571	529	472	258	451	473	335	299	384	348	238	204
EPS	5.38	7.85	7.27	6.49	3.55	6.20	6.50	4.61	4.11	5.28	4.79	3.27	2.80
Net profit (TTM)	1,963	1,830	1,710	1,654	1,517	1,558	1,491	1,366	1,269	1,174	901	1,116	1,088
EPS (TTM)	26.99	25.16	23.51	22.74	20.86	21.42	20.50	18.79	17.45	16.14	12.38	15.34	14.96

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	27,781	2,340	1,830
March 31, 2025	26,780	2,056	1,558
March 31, 2024	25,389	1,686	1,312
March 31, 2023	27,578	1,289	1,052

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	0.8%	0.8%	28,357^†	27,206^†	—	27,651^†	30,773^†	27,224^†	28,635^†	28,642^†	26,275^†	21,746^†
Operating revenue	0.2%	0.4%	27,781	26,780	25,389	27,578	30,731^†	27,176^†	28,589^†	28,523^†	26,069^†	21,647^†
Other income	—	—	576^†	426^†	—	73^†	42^†	48^†	46^†	120^†	206^†	100^†
Operating expenses	—	—	25,485^†	24,722^†	—	26,102^†	29,218^†	26,189^†	27,083^†	27,266^†	25,048^†	20,398^†
Operating profit	15.9%	18.4%	2,296^†	2,058^†	—	1,476^†	1,514^†	988^†	1,506^†	1,256^†	1,022^†	1,249^†
Operating profit margin	—	—	8.3%^†	7.7%^†	—	5.4%^†	4.9%^†	3.6%^†	5.3%^†	4.4%^†	3.9%^†	5.8%^†
Depreciation	—	—	283^†	274^†	—	253^†	254^†	249^†	228^†	144^†	135^†	132^†
Interest	—	—	158^†	89^†	—	91^†	68^†	166^†	191^†	213^†	261^†	369^†
Exceptional items, gain / (loss)	—	—	-91^†	-65^†	—	171^†	-209^†	-151^†	1^†	-27^†	9^†	-309^†
Profit before tax	22.0%	37.9%	2,340	2,056	1,686	1,289	1,024^†	469^†	1,135^†	991^†	840^†	255^†
Tax	—	—	510^†	498^†	—	238^†	254^†	159^†	430^†	333^†	279^†	85^†
Net profit	20.3%	42.6%	1,830	1,558	1,312	1,052	770^†	310^†	705^†	659^†	562^†	170^†
EPS	18.9%	42.6%	25.16^†	21.42^†	—	14.96^†	10.59^†	4.26^†	9.70^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	8.3%^†	7.7%^†	—	5.4%^†	4.9%^†	3.6%^†	5.3%^†	4.4%^†	3.9%^†	5.8%^†
EBIT margin	9.0%^†	8.0%^†	—	5.0%^†	3.6%^†	2.3%^†	4.6%^†	4.2%^†	4.2%^†	2.9%^†
PBT margin	8.4%	7.7%	6.6%	4.7%	3.3%^†	1.7%^†	4.0%^†	3.5%^†	3.2%^†	1.2%^†
Net margin	6.6%	5.8%	5.2%	3.8%	2.5%^†	1.1%^†	2.5%^†	2.3%^†	2.2%^†	0.8%^†
Interest coverage	15.81x^†	24.10x^†	—	15.17x^†	16.13x^†	3.83x^†	6.95x^†	5.65x^†	4.22x^†	1.69x^†
Dividend payout	71.5%^†	23.3%^†	—	0.0%^†	0.0%^†	0.0%^†	0.0%^†	—	—	—
Earnings retention	28.5%^†	76.7%^†	—	100.0%^†	100.0%^†	100.0%^†	100.0%^†	—	—	—
Current ratio	2.03x	1.96x	—	—	—	—	—	—	—	—
Quick ratio	1.48x	1.45x	—	—	—	—	—	—	—	—
Debt to equity	0.00x	0.00x	—	—	—	—	—	—	—	—
Return on equity	21.0%	19.8%	—	—	—	—	—	—	—	—
Return on assets	13.2%	12.3%	—	—	—	—	—	—	—	—
Return on capital employed	27.6%^†	26.1%^†	—	—	—	—	—	—	—	—
Asset turnover	2.00x	2.11x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	1,483	-335	-1,443	181	1,302
March 31, 2025	1,606	-950	-527	162	1,444
March 31, 2024	913	466	-439	98	815
March 31, 2023	577	-21	-501	140	437
March 31, 2022	888	-227	-684	115	773

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	13,864	8,721	8,576	0	0	9,737	4,797	855	1,212	2,659
March 31, 2025	12,718	7,879	7,734	0	0	8,817	4,489	1,150	1,307	2,305
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.