United Spirits Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Excellent return on equity (ROE 21.4%)
- ✓Efficient capital deployment (ROCE 27.5%)
- ✓Virtually debt-free
- ✓Near 52-week low — potential value zone (₹1,210)
Concerns
- ✗High premium to book value (P/B 10.1x)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HINDUNILVR Hindustan Unilever Limited | ₹2,121 | ₹4.9L Cr | 45 | 10.25 | 22.3 | 28.4 | 0.04 |
| ITC ITC Limited | ₹281 | ₹3.5L Cr | 17 | 4.85 | 29.3 | 38.9 | 0.01 |
| NESTLEIND Nestle India Limited | ₹1,391 | ₹2.7L Cr | 79.2 | 52.1 | 74.3 | 85.4 | 0.09 |
| VBL Varun Beverages Limited | ₹522 | ₹1.8L Cr | 57.2 | 9.01 | 16.2 | 19.7 | 0.13 |
| BRITANNIA Britannia Industries Limited | ₹5,129 | ₹1.2L Cr | 48.7 | 24.19 | 53.6 | 56 | 0.59 |
| TATACONSUM TATA CONSUMER PRODUCTS LIMITED | ₹1,132 | ₹1.1L Cr | 74.4 | 5.14 | 7.35 | 9.24 | 0.13 |
| MARICO Marico Limited | ₹810 | ₹1.1L Cr | 59.7 | 25 | 43 | 47.2 | 0.14 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
UNITDSPR · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 56.68% | 56.68% | 56.68% | 56.68% | 56.68% | 56.68% |
| FII | 16.23% | 16.68% | 15.09% | 16.11% | 15.93% | 14.98% |
| DII | 12.49% | 12.27% | 14.00% | 13.15% | 13.54% | 14.59% |
| Public | 14.60% | 14.37% | 14.22% | 14.04% | 13.83% | 13.73% |
| Govt | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
Corporate Events
to consider and approve the audited financial results (Standalone and Consolidated) of the Company and recommend final dividend, if any, for the financial year ended 31st March 2026.
Interim Dividend - Rs 6 Per Share
Dividend - Rs 8 Per Share
Interim Dividend - Rs 4 Per Share
Dividend - Rs 5 Per Share
Interim Dividend - Rs 4 Per Share
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3.7K Cr ▲16.3% | ₹3.2K Cr ▲5.0% | ₹3.0K Cr ▲2.5% | ₹2.9K Cr ▼14.2% | ₹3.4K Cr ▲20.7% | ₹2.8K Cr ▲3.0% | ₹2.8K Cr ▼0.8% | ₹2.8K Cr |
| Op. Profit | ₹614 Cr ▼6.8% | ₹659 Cr ▲3.3% | ₹638 Cr ▲25.3% | ₹509 Cr ▼9.9% | ₹565 Cr ▲13.0% | ₹500 Cr ▼29.8% | ₹712 Cr ▲113.2% | ₹334 Cr |
| OPM | 17.0% ▼19.0% | 21.0% ▲0.0% | 21.0% ▲23.5% | 17.0% ▲6.3% | 16.0% ▼11.1% | 18.0% ▼30.8% | 26.0% ▲116.7% | 12.0% |
| Net Profit | ₹418 Cr ▼9.9% | ₹464 Cr ▲11.3% | ₹417 Cr ▼1.0% | ₹421 Cr ▲25.7% | ₹335 Cr ▼1.8% | ₹341 Cr ▼29.7% | ₹485 Cr ▲101.2% | ₹241 Cr |
| EPS (₹) | 5.75 ▼9.9% | 6.38 ▲11.3% | 5.73 ▼1.0% | 5.79 ▲25.6% | 4.61 ▼1.7% | 4.69 ▼29.7% | 6.67 ▲101.5% | 3.31 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹12.5K Cr ▲3.3% | ₹12.1K Cr ▲6.6% | ₹11.3K Cr ▲6.7% | ₹10.6K Cr ▲9.3% | ₹9.7K Cr ▲19.4% | ₹8.1K Cr ▼12.8% | ₹9.3K Cr ▼0.2% | ₹9.3K Cr ▲8.7% | ₹8.6K Cr ▼2.6% | ₹8.8K Cr |
| Expenses | ₹10.2K Cr ▲3.6% | ₹9.8K Cr ▲5.5% | ₹9.3K Cr ▲1.4% | ₹9.2K Cr ▲13.3% | ₹8.1K Cr ▲14.6% | ₹7.1K Cr ▼8.7% | ₹7.8K Cr ▼2.4% | ₹7.9K Cr ▲7.7% | ₹7.4K Cr ▼5.7% | ₹7.8K Cr |
| Op. Profit | ₹2.3K Cr ▲1.9% | ₹2.2K Cr ▲11.8% | ₹2.0K Cr ▲41.1% | ₹1.4K Cr ▼11.2% | ₹1.6K Cr ▲51.8% | ₹1.1K Cr ▼33.1% | ₹1.6K Cr ▲12.7% | ₹1.4K Cr ▲15.3% | ₹1.2K Cr ▲22.0% | ₹991 Cr |
| OPM | 18.0% ▼5.3% | 19.0% ▲5.6% | 18.0% ▲38.5% | 13.0% ▼18.8% | 16.0% ▲23.1% | 13.0% ▼23.5% | 17.0% ▲13.3% | 15.0% ▲7.1% | 14.0% ▲27.3% | 11.0% |
| Other Income | ₹516 Cr ▲90.4% | ₹271 Cr ▲30.3% | ₹208 Cr ▼16.5% | ₹249 Cr ▲312.8% | ₹-117 Cr ▼368.0% | ₹-25 Cr ▼128.7% | ₹87 Cr ▲24.3% | ₹70 Cr ▼59.3% | ₹172 Cr ▲164.9% | ₹-265 Cr |
| Interest | ₹158 Cr ▲77.5% | ₹89 Cr ▲17.1% | ₹76 Cr ▼26.9% | ₹104 Cr ▲18.2% | ₹88 Cr ▼53.2% | ₹188 Cr ▼11.3% | ₹212 Cr ▼10.5% | ₹237 Cr ▼14.7% | ₹278 Cr ▼25.9% | ₹375 Cr |
| Depreciation | ₹289 Cr ▲2.1% | ₹283 Cr ▲2.9% | ₹275 Cr ▼2.8% | ₹283 Cr ▼6.9% | ₹304 Cr ▲1.7% | ₹299 Cr ▲4.9% | ₹285 Cr ▲32.6% | ₹215 Cr ▲12.0% | ₹192 Cr ▲1.6% | ₹189 Cr |
| PBT | ₹2.3K Cr ▲10.0% | ₹2.1K Cr ▲15.0% | ₹1.9K Cr ▲45.2% | ₹1.3K Cr ▲17.7% | ₹1.1K Cr ▲101.3% | ₹540 Cr ▼53.4% | ₹1.2K Cr ▲14.6% | ₹1.0K Cr ▲11.0% | ₹912 Cr ▲459.5% | ₹163 Cr |
| Tax % | 22.0% ▼15.4% | 26.0% ▲8.3% | 24.0% ▲100.0% | 12.0% ▼52.0% | 25.0% ▼24.2% | 33.0% ▼29.8% | 47.0% ▲46.9% | 32.0% ▲14.3% | 28.0% ▼34.9% | 43.0% |
| Net Profit | ₹1.8K Cr ▲16.2% | ₹1.6K Cr ▲12.4% | ₹1.4K Cr ▲25.0% | ₹1.1K Cr ▲38.8% | ₹811 Cr ▲124.0% | ₹362 Cr ▼41.7% | ₹621 Cr ▼9.2% | ₹684 Cr ▲4.9% | ₹652 Cr ▲601.1% | ₹93 Cr |
| EPS (₹) | 25.27 ▲16.2% | 21.75 ▲12.3% | 19.36 ▲23.9% | 15.63 ▲37.1% | 11.4 ▲115.9% | 5.28 ▼41.8% | 9.07 ▼5.9% | 9.64 ▲10.6% | 8.72 ▲531.9% | 1.38 |
| Div Payout | 43.0% ▼21.8% | 55.0% ▲19.6% | 46.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹145 Cr ▲0.0% | ₹145 Cr ▲0.0% | ₹145 Cr ▲0.0% | ₹145 Cr ▲0.0% | ₹145 Cr ▲0.0% | ₹145 Cr ▲0.0% | ₹145 Cr ▲0.0% | ₹145 Cr ▲0.0% | ₹145 Cr ▲0.0% | ₹145 Cr |
| Reserves | ₹8.3K Cr ▲3.8% | ₹8.0K Cr ▲14.1% | ₹7.0K Cr ▲19.2% | ₹5.9K Cr ▲21.8% | ₹4.8K Cr ▲21.0% | ₹4.0K Cr ▲10.9% | ₹3.6K Cr ▲21.7% | ₹2.9K Cr ▲29.5% | ₹2.3K Cr ▲38.7% | ₹1.6K Cr |
| Borrowings | ₹412 Cr ▼14.2% | ₹480 Cr ▲81.1% | ₹265 Cr ▲44.8% | ₹183 Cr ▼69.8% | ₹605 Cr ▼41.7% | ₹1.0K Cr ▼59.6% | ₹2.6K Cr ▼10.9% | ₹2.9K Cr ▼15.7% | ₹3.4K Cr ▼17.4% | ₹4.1K Cr |
| Other Liabilities | ₹4.7K Cr ▲1.6% | ₹4.6K Cr ▲21.2% | ₹3.8K Cr ▲7.2% | ₹3.5K Cr ▲7.0% | ₹3.3K Cr ▼1.5% | ₹3.4K Cr ▲31.7% | ₹2.5K Cr ▼18.8% | ₹3.1K Cr ▲1.6% | ₹3.1K Cr ▲4.0% | ₹3.0K Cr |
| Total Liabilities | ₹13.5K Cr ▲2.3% | ₹13.2K Cr ▲17.9% | ₹11.2K Cr ▲15.0% | ₹9.7K Cr ▲9.6% | ₹8.9K Cr ▲4.1% | ₹8.5K Cr ▼3.8% | ₹8.8K Cr ▼2.9% | ₹9.1K Cr ▲2.1% | ₹8.9K Cr ▲0.3% | ₹8.9K Cr |
| Assets | ||||||||||
| Fixed Assets | ₹1.8K Cr ▲2.6% | ₹1.7K Cr ▲9.7% | ₹1.6K Cr ▲1.7% | ₹1.5K Cr ▼17.3% | ₹1.9K Cr ▼2.0% | ₹1.9K Cr ▼3.2% | ₹2.0K Cr ▲6.2% | ₹1.8K Cr ▲2.8% | ₹1.8K Cr ▼6.6% | ₹1.9K Cr |
| CWIP | ₹81 Cr ▲12.5% | ₹72 Cr ▲94.6% | ₹37 Cr ▼55.4% | ₹83 Cr ▼13.5% | ₹96 Cr ▼1.0% | ₹97 Cr ▼19.8% | ₹121 Cr ▲2.5% | ₹118 Cr ▲15.7% | ₹102 Cr ▼48.7% | ₹199 Cr |
| Investments | ₹1.3K Cr ▲44.1% | ₹923 Cr ▲43.1% | ₹645 Cr ▲125.5% | ₹286 Cr ▲28.8% | ₹222 Cr | ₹0 Cr ▼100.0% | ₹22 Cr ▼12.0% | ₹25 Cr | ₹0 Cr | ₹0 Cr |
| Other Assets | ₹10.3K Cr ▼1.5% | ₹10.5K Cr ▲17.2% | ₹8.9K Cr ▲14.3% | ₹7.8K Cr ▲16.8% | ₹6.7K Cr ▲2.6% | ₹6.5K Cr ▼3.3% | ₹6.7K Cr ▼5.3% | ₹7.1K Cr ▲1.3% | ₹7.0K Cr ▲3.7% | ₹6.8K Cr |
| Total Assets | ₹13.5K Cr ▲2.3% | ₹13.2K Cr ▲17.9% | ₹11.2K Cr ▲15.0% | ₹9.7K Cr ▲9.6% | ₹8.9K Cr ▲4.1% | ₹8.5K Cr ▼3.8% | ₹8.8K Cr ▼2.9% | ₹9.1K Cr ▲2.1% | ₹8.9K Cr ▲0.3% | ₹8.9K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹1.9K Cr ▲74.2% | ₹1.1K Cr ▲81.8% | ₹615 Cr ▼37.1% | ₹977 Cr ▼46.3% | ₹1.8K Cr ▲132.2% | ₹783 Cr ▼17.4% | ₹948 Cr ▲2.5% | ₹925 Cr ▲43.0% | ₹647 Cr ▲128.6% | ₹283 Cr |
| Investing CF | ₹-1.1K Cr ▼592.9% | ₹226 Cr ▲510.9% | ₹-55 Cr ▲82.4% | ₹-313 Cr ▼216.2% | ₹-99 Cr ▲49.0% | ₹-194 Cr ▼193.9% | ₹-66 Cr ▼163.5% | ₹104 Cr ▲145.8% | ₹-227 Cr ▼131.0% | ₹733 Cr |
| Financing CF | ₹-557 Cr ▼36.9% | ₹-407 Cr ▲18.6% | ₹-500 Cr ▲27.3% | ₹-688 Cr ▲59.7% | ₹-1.7K Cr ▼130.7% | ₹-740 Cr ▲8.4% | ₹-808 Cr ▲16.4% | ₹-966 Cr ▼103.4% | ₹-475 Cr ▲58.9% | ₹-1.2K Cr |
| Net Cash Flow | ₹276 Cr ▼70.5% | ₹937 Cr ▲1461.7% | ₹60 Cr ▲360.9% | ₹-23 Cr ▼291.7% | ₹12 Cr ▲108.0% | ₹-150 Cr ▼302.7% | ₹74 Cr ▲17.5% | ₹63 Cr ▲212.5% | ₹-56 Cr ▲59.7% | ₹-139 Cr |
| Free Cash Flow | ₹1.8K Cr ▲71.9% | ₹1.0K Cr ▲105.7% | ₹505 Cr ▼42.7% | ₹882 Cr ▼47.5% | ₹1.7K Cr ▲188.0% | ₹583 Cr ▼33.1% | ₹872 Cr ▼2.6% | ₹895 Cr ▲130.1% | ₹389 Cr ▲678.0% | ₹50 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 103d ▲4.0% | 99d ▲17.9% | 84d ▼5.6% | 89d ▼9.2% | 98d ▲10.1% | 89d ▼10.1% | 99d ▼13.9% | 115d ▼5.7% | 122d ▲23.2% | 99d |
| Inventory Days | 197d ▲5.9% | 186d ▼3.6% | 193d ▼15.7% | 229d ▼9.8% | 254d ▲27.6% | 199d ▼15.3% | 235d ▼10.6% | 263d ▲16.4% | 226d ▲50.7% | 150d |
| Days Payable | 191d ▲8.5% | 176d ▲14.3% | 154d ▼8.3% | 168d ▼4.5% | 176d ▲41.9% | 124d ▼27.5% | 171d ▼12.3% | 195d ▲35.4% | 144d ▲84.6% | 78d |
| Cash Conv. Cycle | 109d ▲0.9% | 108d ▼11.5% | 122d ▼18.7% | 150d ▼15.3% | 177d ▲7.3% | 165d ▲1.2% | 163d ▼10.9% | 183d ▼10.7% | 205d ▲19.9% | 171d |
| Working Capital Days | 48d ▼7.7% | 52d ▲2.0% | 51d ▲30.8% | 39d ▲129.4% | 17d ▲312.5% | -8d ▲0.0% | -8d ▲33.3% | -12d ▲45.5% | -22d ▲26.7% | -30d |
| ROCE | 26.0% ▼7.1% | 28.0% ▲40.0% | 20.0% ▼20.0% | 25.0% ▲78.6% | 14.0% ▼33.3% | 21.0% ▲5.0% | 20.0% ▲11.1% | 18.0% ▲20.0% | 15.0% ▲0.0% | 15.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About United Spirits Limited
Diageo India incorporated in India as United Spirits Ltd.(USL) is the country’s leading beverage alcohol company and a subsidiary of global leader Diageo PLC. The company manufactures, sells, and distributes a wide portfolio of premium brands such as Johnnie Walker, Black Dog, Black & White, VAT 69, Antiquity, Signature, Royal Challenge, McDowell’s No.1, Smirnoff and Captain Morgan. [1]
Fast Moving Consumer Goods · Beverages