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United Spirits Limited (IN:UNITDSPR)
:UNITDSPR
India Market
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United Spirits Limited (UNITDSPR) AI Stock Analysis

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IN:UNITDSPR

United Spirits Limited

(UNITDSPR)

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Outperform 72 (OpenAI - 4o)
Rating:72Outperform
Price Target:
₹1,479.00
▲(11.02% Upside)
United Spirits Limited's strong financial performance is the primary driver of its overall stock score, supported by robust revenue growth, efficient cost management, and impressive cash flow generation. Technical analysis indicates short-term bullish momentum, but valuation concerns due to a high P/E ratio and low dividend yield temper the outlook.

United Spirits Limited (UNITDSPR) vs. iShares MSCI India ETF (INDA)

United Spirits Limited Business Overview & Revenue Model

Company DescriptionUnited Spirits Limited manufactures, purchases, and sells alcoholic beverages and other allied spirits in India and internationally. Its alcoholic beverages include Scotch whisky, Indian made foreign liquor whisky, brandy, rum, vodka, and gin. The company primarily owns McDowell's No.1, Royal Challenge, Signature, Antiquity, Black Dog, Director's Special Black, McDowell's Rum, and McDowell's Brandy brands. It also manufactures, imports, and sells Diageo's iconic brands, such as Haig Gold Label, Captain Morgan, Johnnie Walker, J&B, Baileys, Lagavulin, Talisker, VAT 69, Black & White, Smirnoff, and Ciroc. In addition, the company holds the perpetual right to the Bangalore Franchise of Board of Control for Cricket in India –Indian Premier League. It exports its products. The company was formerly known as McDowell & Company Limited and changed its name to United Spirits Limited in October 2006. United Spirits Limited was founded in 1826 and is headquartered in Bengaluru, India. United Spirits Limited operates as a subsidiary of Relay B.V.
How the Company Makes MoneyUnited Spirits Limited generates revenue through the production, marketing, and distribution of alcoholic beverages. The company's primary revenue stream is the sale of its wide range of spirits across various price points and categories. By leveraging its extensive distribution network, United Spirits ensures widespread availability and accessibility of its products in both urban and rural markets. Additionally, the company benefits from strategic partnerships and collaborations with its parent company, Diageo, which enhances its brand portfolio and market reach. Factors such as brand loyalty, marketing initiatives, and product innovation also play a significant role in driving sales and sustaining its competitive edge in the industry.

United Spirits Limited Financial Statement Overview

Summary
United Spirits Limited exhibits strong financial health with robust revenue growth, improving profit margins, and efficient cost management. The balance sheet reflects low leverage and strong equity, ensuring financial stability. Impressive cash flow generation underscores the company’s operational efficiency and financial flexibility.
Income Statement
85
Very Positive
United Spirits Limited has demonstrated strong revenue growth with a 6.6% increase from 2024 to 2025, driven by robust sales strategies. The Gross Profit Margin for 2025 stands at 47.0%, showing efficient cost management. The Net Profit Margin improved to 13.1%, reflecting solid bottom-line performance. EBIT and EBITDA margins are healthy at 32.6% and 18.6%, respectively, indicating strong operational efficiency. The consistent upward trend in revenue and profitability margins highlights the company’s solid market position.
Balance Sheet
78
Positive
The company maintains a strong balance sheet with a Debt-to-Equity Ratio of 0.06, indicating low financial leverage and prudent debt management. The Return on Equity (ROE) improved to 19.5% in 2025, reflecting efficient use of equity. The Equity Ratio stands at 61.2%, showcasing a solid equity base. However, the high reliance on equity could pose risks if growth opportunities require significant capital investments. Overall, the balance sheet reflects financial stability and low risk.
Cash Flow
82
Very Positive
United Spirits Limited has shown impressive Free Cash Flow growth of 75.0% from 2024 to 2025, driven by strong operating cash flows. The Operating Cash Flow to Net Income Ratio is 1.23, indicating healthy cash generation relative to profitability. The Free Cash Flow to Net Income Ratio of 1.13 further confirms efficient cash conversion. The company’s ability to generate significant cash flow supports its financial flexibility and ability to invest in growth opportunities.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue123.29B120.69B113.21B106.12B97.12B80.98B
Gross Profit55.78B56.72B39.96B32.55B31.10B35.15B
EBITDA22.85B22.43B22.09B16.66B14.78B10.28B
Net Income15.14B15.82B14.08B11.37B8.29B3.84B
Balance Sheet
Total Assets0.00132.48B112.49B97.61B89.11B85.37B
Cash, Cash Equivalents and Short-Term Investments28.98B29.03B18.61B11.34B2.77B778.00M
Total Debt0.004.80B2.65B1.83B6.05B10.37B
Total Liabilities-81.04B51.44B41.28B37.62B40.37B44.78B
Stockholders Equity81.04B81.04B71.21B59.99B49.54B41.20B
Cash Flow
Free Cash Flow0.0017.85B10.20B4.78B8.43B16.44B
Operating Cash Flow0.0019.47B11.18B6.15B9.77B18.18B
Investing Cash Flow0.00-11.14B2.26B-550.00M-3.13B-992.00M
Financing Cash Flow0.00-5.57B-4.07B-5.00B-6.88B-17.07B

United Spirits Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1332.15
Price Trends
50DMA
1321.01
Positive
100DMA
1385.82
Negative
200DMA
1417.28
Negative
Market Momentum
MACD
5.90
Negative
RSI
50.16
Neutral
STOCH
73.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:UNITDSPR, the sentiment is Negative. The current price of 1332.15 is above the 20-day moving average (MA) of 1330.39, above the 50-day MA of 1321.01, and below the 200-day MA of 1417.28, indicating a neutral trend. The MACD of 5.90 indicates Negative momentum. The RSI at 50.16 is Neutral, neither overbought nor oversold. The STOCH value of 73.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:UNITDSPR.

United Spirits Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
₹989.92B63.830.60%8.02%6.96%
67
Neutral
₹401.20B100.550.13%21.38%46.88%
62
Neutral
$20.33B14.63-3.31%3.23%1.93%-12.26%
56
Neutral
₹32.24B127.030.25%4.34%-65.65%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:UNITDSPR
United Spirits Limited
1,332.15
-178.73
-11.83%
IN:GLOBUSSPR
Globus Spirits Limited
1,108.75
-37.03
-3.23%
IN:RADICO
Radico Khaitan Limited
2,983.90
865.57
40.86%

United Spirits Limited Corporate Events

United Spirits Limited Conducts 26th AGM with Key Resolutions Passed
Aug 29, 2025

United Spirits Limited held its 26th Annual General Meeting (AGM) on August 29, 2025, via video conferencing. The meeting, chaired by Independent Director V K Viswanathan, included discussions on the company’s financial statements, the declaration of a final dividend, and the appointment and remuneration of auditors. The AGM facilitated remote e-voting for resolutions, ensuring compliance with regulatory requirements. The proceedings reflect the company’s commitment to transparency and stakeholder engagement, potentially strengthening its position in the market.

United Spirits Limited Announces AGM Voting Results
Aug 29, 2025

United Spirits Limited has disclosed the voting results from its 26th Annual General Meeting held on August 29, 2025. The meeting, which was conducted via video conferencing, saw participation from 58 public shareholders. This announcement provides transparency in the company’s governance practices and may influence stakeholder confidence in the company’s management.

United Spirits Limited Clarifies Secretarial Auditor Appointment and Fees
Aug 24, 2025

United Spirits Limited has clarified details regarding the appointment of M/s. Makarand M. Joshi and Co. as the new Secretarial Auditor at their upcoming Annual General Meeting. The company has proposed a total fee of INR 6,90,000 for secretarial audit and other services, reflecting a slight increase from the previous auditor’s fees. This move aims to maintain transparency and address investor queries about the fees involved.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 09, 2025