Fast Moving Consumer Goods · NIFTY 500

United Spirits Limited

NSEUNITDSPR BSE532432 ISININE854D01024 SeriesEQ Listed on NSE · BSE

₹1,424.90 +14.90 (+1.06%) Updated 12 Nov, 8:49 pm IST

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Price, daily close-2.27% in a year

Today

Open: ₹1,420.00
Prev close: ₹1,410.00
Day high: ₹1,425.80
Day low: ₹1,399.80
Volume: 2.29 L
Value traded: ₹32.41 Cr
Upper circuit: ₹1,459.80
Lower circuit: ₹1,374.80
52W high: ₹1,563.40
52W low: ₹1,210.80
1 month: +7.57%
6 months: +12.00%

52W low52W high

Ratios

Key numbers

Worked out from the latest filings (Consolidated) and today's price. TTM = last four quarters.

Market cap₹103,305 Cr

P/E (TTM)54.76

P/B11.40

Book value / share₹124.99

EPS (TTM)₹26.02

ROE20.4%

Dividend yield1.19%

Dividend (12m)₹17.00 / share

Net margin (TTM)6.6%

Operating margin9.3%

Debt / equity0.00

Current ratio2.11

EV / EBITDA47.64

Sales growth (YoY qtr)-2.57%

Profit growth (YoY qtr)-7.79%

Sales CAGR 3Y+0.00%

Profit CAGR 3Y+17.39%

Shares72.50 Cr

Quarterly results

Results for each quarter

Last 12 quarters, consolidated, ₹ crore. Hover a bar to see the number.

Revenue and net profit

6,962350

Dec 23

6,511241

Mar 24

6,238485

Jun 24

6,672341

Sep 24

7,7320.0

Dec 24

6,634421

Mar 25

6,295417

Jun 25

7,199464

Sep 25

7,942418

Dec 25

6,855539

Mar 26

6,122463

Jun 26

7,014428

Sep 26

Revenue · QoQ (vs last quarter)

—-6.5%-4.2%+7.0%+16%-14%-5.1%+14%+10%-14%-11%+15%

Revenue · YoY (vs a year ago)

————+11%+1.9%+0.9%+7.9%+2.7%+3.3%-2.7%-2.6%

Net profit · QoQ (vs last quarter)

—-31%+101%-30%-100%—-1.0%+11%-10.0%+29%-14%-7.5%

Net profit · YoY (vs a year ago)

————-100%+75%-14%+36%—+28%+11%-7.8%

RevenueNet profitLine = trend

4.93

Dec 23

3.40

Mar 24

6.83

Jun 24

4.80

Sep 24

4.72

Dec 24

5.93

Mar 25

5.87

Jun 25

6.53

Sep 25

5.88

Dec 25

7.59

Mar 26

6.52

Jun 26

6.03

Sep 26

EPS (₹) · YoY (vs a year ago)

————-4.3%+74%-14%+36%+25%+28%+11%-7.7%

EPS (₹)Line = trend

₹ Cr	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	6,962	6,511	6,238	6,672	7,732	6,634	6,295	7,199	7,942	6,855	6,122	7,014
Other income	52.1	111	35.0	54.0	72.0	175	72.0	81.0	51.0	295	73.0	65.0
Total income	7,014	6,622	6,273	6,726	7,804	6,809	6,367	7,280	7,993	7,150	6,195	7,079
Raw material	1,309	1,358	1,088	1,460	1,493	1,402	1,185	1,638	1,448	1,736	1,179	1,732
Purchases	221	155	141	195	343	185	135	432	151	90.0	60.0	290
Employee cost	142	135	135	163	174	137	137	179	177	142	133	153
Other expenses	4,642	4,531	4,084	4,449	5,093	4,401	4,086	4,682	5,206	4,513	4,098	4,522
Total expenses	6,555	6,279	5,619	6,264	7,256	6,266	5,776	6,625	7,442	6,407	5,795	6,471
Operating profit	487	303	713	502	503	460	630	630	589	553	348	654
OPM %	7.0%	4.7%	11.4%	7.5%	6.5%	6.9%	10.0%	8.8%	7.4%	8.1%	5.7%	9.3%
Finance cost	16.4	29.0	22.0	25.0	20.0	22.0	49.0	21.0	19.0	69.0	30.0	24.0
Depreciation	62.8	73.0	72.0	69.0	72.0	70.0	76.0	65.0	80.0	76.0	72.0	76.0
Exceptional items	—	-31.0	—	—	-65.0	—	-14.0	-30.0	-10.0	-40.0	-81.0	11.0
Profit before tax	459	312	654	462	483	543	577	625	541	703	319	619
Tax	109	71.0	168	119	145	121	154	160	123	135	82.0	158
Net profit	350	241	485	341	335	421	417	464	418	539	463	428
Profit to shareholders	350	241	485	341	0.0	421	417	464	418	539	463	428
EPS (₹)	4.93	3.40	6.83	4.80	4.72	5.93	5.87	6.53	5.88	7.59	6.52	6.03

Profit & loss

Results for each year

8 financial years (April to March), consolidated, ₹ crore.

Sales, operating profit and net profit

28,8731,396700

FY19

28,8241,639659

FY20

27,419988384

FY21

31,0621,443829

FY22

27,8151,5931,136

FY23

26,0181,9841,408

FY24

27,2762,1781,582

FY25

27,8162,1951,838

FY26

Revenue · YoY (vs a year ago)

—-0.2%-4.9%+13%-10%-6.5%+4.8%+2.0%

Net profit · YoY (vs a year ago)

—-5.9%-42%+116%+37%+24%+12%+16%

RevenueOperating profitNet profitLine = trend

₹ Cr	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	28,873	28,824	27,419	31,062	27,815	26,018	27,276	27,816
Other income	69.2	22.0	39.6	35.5	73.1	225	336	478
Total expenses	27,931	27,749	26,853	29,846	26,785	24,368	25,405	25,977
Employee cost	690	530	556	653	610	547	609	635
Operating profit	1,396	1,639	988	1,443	1,593	1,984	2,178	2,195
OPM %	4.8%	5.7%	3.6%	4.6%	5.7%	7.6%	8.0%	7.9%
Finance cost	237	212	188	88.0	104	76.0	89.0	158
Depreciation	215	285	299	304	283	275	283	289
Profit before tax	1,014	1,164	541	1,087	1,280	1,858	2,142	2,226
Tax	328	540	178	276	153	449	553	510
Tax rate %	32.4%	46.4%	32.9%	25.4%	11.9%	24.2%	25.8%	22.9%
Net profit	684	621	362	811	1,126	1,408	1,582	1,838
Profit to shareholders	700	659	384	829	1,136	1,408	1,582	1,838
Net margin %	2.4%	2.3%	1.4%	2.7%	4.1%	5.4%	5.8%	6.6%
EPS (₹)	9.87	9.29	5.41	11.68	16.01	19.83	22.28	25.89

Balance sheet

Assets and debt

At each year end (and the latest half year), ₹ crore.

Equity, debt and assets

6,0001.1115

Mar 23

7,12125.01,052

Mar 24

8,1041,328

Mar 25

8,9536.0859

Mar 26

9,0624.01,178

Sep 26

Shareholders' equity · YoY (vs a year ago)

—+19%+14%+10%—

Shareholders' equityBorrowingsCashLine = trend

₹ Cr	Mar 23	Mar 24	Mar 25	Mar 26	Sep 26
Shareholders' equity	6,000	7,121	8,104	8,953	9,062
Long-term borrowings	0.3	0.0	0.0	0.0	0.0
Short-term borrowings	0.8	25.0	0.0	6.0	4.0
Total borrowings	1.1	25.0	—	6.0	4.0
Current liabilities	3,624	3,903	4,722	4,818	5,009
Fixed assets (PPE)	1,151	1,071	1,307	1,215	1,197
Inventories	2,230	2,063	2,305	2,668	2,688
Trade receivables	2,434	3,056	3,410	3,609	3,752
Cash & equivalents	115	1,052	1,328	859	1,178
Current assets	6,235	7,377	9,202	9,862	10,578
Total assets	9,762	11,249	13,248	14,469	14,625
Debt / equity	0.00	0.00	—	0.00	0.00

Cash flow

Cash coming in and going out

For each financial year, ₹ crore. Free cash flow = cash from operations minus spending on fixed assets.

Operating, investing and financing cash

977-313-688

FY22

615-53.2-501

FY23

1,118226-407

FY24

1,947-1,114-557

FY25

1,459-428-1,450

FY26

Operations · YoY (vs a year ago)

—-37%+82%+74%-25%

OperationsInvestingFinancingLine = trend

₹ Cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	977	615	1,118	1,947	1,459
Cash from investing	-313	-53.2	226	-1,114	-428
Cash from financing	-688	-501	-407	-557	-1,450
Spent on fixed assets	-134	-137	-98.0	-162	-181
Free cash flow	843	478	1,020	1,785	1,278
Net cash flow	-23.3	60.6	937	276	-419

Shareholding

Who holds the shares

Promoter and public holding at each quarter end, as filed with NSE.

Holding over time

56.7%Dec 23

56.7%Mar 24

56.7%Jun 24

56.7%Sep 24

56.7%Dec 24

56.7%Mar 25

56.7%Jun 25

56.7%Sep 25

56.7%Dec 25

56.7%Mar 26

56.7%Jun 26

56.7%Sep 26

Promoter & groupPublic

Latest (30 Sep 2026)

56.7%promoter

Promoter & group: 56.67%
Public (FIIs, mutual funds, retail…): 43.33%
Promoter change, last quarter: 0.00 pts

Dividends & news

Latest dividends and announcements

Dividends & corporate actions

Dividend - Rs 11 Per ShareEx 08-Jul-2026
Interim Dividend - Rs 6 Per ShareEx 27-Jan-2026
Dividend - Rs 8 Per ShareEx 01-Aug-2025
Interim Dividend - Rs 4 Per ShareEx 03-Apr-2025
Dividend - Rs 5 Per ShareEx 12-Jul-2024
Interim Dividend - Rs 4 Per ShareEx 17-Nov-2023
Annual General MeetingEx 13-Aug-2019
Annual General MeetingEx 30-Aug-2018

Board meetings

United Spirits Limited has informed the Exchange about Board Meeting to be held on 28-Oct-2026 to inter-alia consider and approve the Unaudited Finan…28-Oct-2026
the financial results for the period ended September 30, 202628-Oct-2026
United Spirits Limited has informed the Exchange about Board Meeting to be held on 22-Jul-2026 to inter-alia consider and approve the Unaudited Finan…22-Jul-2026
the unaudited financial results for the period ended June 30, 202622-Jul-2026
the Yearly Audited Financial results of the Company for the period ended March 2026 and Dividend.14-May-2026

Filings with NSE

Analysts/Institutional Investor Meet/Con. Call Updates12 Nov
Action(s) initiated or orders passed5 Nov
Analysts/Institutional Investor Meet/Con. Call Updates5 Nov
Analysts/Institutional Investor Meet/Con. Call Updates2 Nov
Action(s) initiated or orders passed30 Oct
Analysts/Institutional Investor Meet/Con. Call Updates29 Oct
Copy of Newspaper Publication29 Oct

Latest news

United Spirits Ltd. Peer Comparison – Compare with OthersValue Research · 30 Aug, 9:18 pm United Spirits shares rise 4% as gross margins above estimates in Q2; Jefferies sees up to 27% upsideMoneycontrol.com · 29 Oct, 12:30 pm United Spirits shares jump 4% as gross margin beats estimates in Q2; here’s what analysts saidUpstox · 29 Oct, 12:30 pm United Spirits gains 4% in weak market, nears 52-week high; here's whyBusiness Standard · 24 Jul, 12:30 pm United Spirits shares gain over 5% on Q4 operational beat; Analysts see up to 30% upsideCNBC TV18 · 15 May, 12:30 pm United Spirits Share Price Today: Rs 1,433 and Key ViewUnivest · 23 Sep, 12:30 pm FSSAI revokes June 29 order on United Spirits Baramati unit productsscanx.trade · 19 Aug, 8:47 pm Three Days Left To Buy United Spirits Limited (NSE:UNITDSPR) Before The Ex-Dividend DateSimply Wall St · 4 Jul, 12:30 pm

About

About United Spirits Limited

United Spirits Limited (USL) is an Indian alcoholic beverages company, and the world's second-largest spirits company by volume. It is a subsidiary of Diageo, and headquartered at UB Tower in Bengaluru, Karnataka. USL exports its products to over 37 countries.

From Wikipedia (CC BY-SA 4.0).

BRANDS

BaileysCaptain MorganCîrocDon JulioJ&BJohnnie WalkerKetel OneSmirnoff

Company details

Company name: United Spirits Limited
NSE symbol: UNITDSPR
BSE scrip code: 532432
ISIN: INE854D01024
Listed on: NSE, BSE
Series: EQ (normal equity)
Listed on NSE since: 27 Sep 2001
Face value: ₹2 per share
Market lot: 1 share
Shares issued: 72.50 crore
Index: NIFTY 500
Sector (NSE): Fast Moving Consumer Goods
Industry: Beverages: Alcoholic
Managing director / CEO: Praveen Someshwar
Chair: Narayan K Seshadri
Headquarters: Bengaluru, Karnataka, India
Registered address: UB Tower, #24, Vittal Mallya Road, Bengaluru - 560 001, Karnataka, India.
Founded: 1826
Employees: 4,105
Financial year: April to March
Results basis: Consolidated
Website: diageoindia.com

Peers

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Prices from NSE via Upstox. Financials from the company's results filed with NSE (XBRL); ratios are our own working. Profile from global-stock-logos (MIT). For information only, not a recommendation to buy or sell.

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United Spirits Limited

Today

Ratios

Quarterly results

Revenue and net profit

Profit & loss

Sales, operating profit and net profit

Balance sheet

Equity, debt and assets

Cash flow

Operating, investing and financing cash

Shareholding

Holding over time

Latest (30 Sep 2026)

Dividends & news

Dividends & corporate actions

Board meetings

Filings with NSE

Latest news

About

Company details

Peers