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UNITDSPR · NSE · Breweries & Distilleries

United Spirits Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: Consumer Defensive
fair low confidence No valuation within 120 days; P/E 51.5 vs peers 46.0 (9th of 16); P/B 10.1 vs peers 10.5 (8th of 16).
Statements through FY2026Prices adjusted for 1 corporate actionNot yet reviewed by the adversarial model

What is United Spirits's share price today?

United Spirits last traded at ₹1,349.70 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.2% on the day, up 3.8% over a year. Its 52-week range is ₹1,211 to ₹1,563. The live price is in the app.

₹1,349.70 −1.2% today
+3.8% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range39% of the way up
Low ₹1,211High ₹1,563

What is United Spirits's market cap?

United Spirits's market capitalisation is about ₹99,356 crore: what it would cost to buy every share at today's price. That makes it the 17th largest mid cap company we cover.

₹99,356 Cr Mid Cap17th largest mid cap company
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: UNITDSPR
ISIN
INE854D01024
Cap bucket
Mid Cap, 17th largest by market cap
Industry (NSE)
Fast Moving Consumer Goods › Beverages › Breweries & Distilleries
Listed since
2001
Futures and options
Traded

Is United Spirits overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 51.5 vs peers 46.0 (9th of 16); P/B 10.1 vs peers 10.5 (8th of 16).

Valuation

Latest price and trailing 12 months
P/E 51.51
vs peers 46.0 · 9th of 16
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 10.13
vs peers 10.5 · 8th of 16
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹99,356 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 1.4%
vs peers 1.0% · 5th of 12
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 9.91
vs peers 15.8 · 5th of 11
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 2.97
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is United Spirits a quality business?

Quality score 59.2, 8th of 16 in its peer set; CLEAN on 30 of 30 flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 59.2
vs peers 47.5 · 8th of 16
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level CLEAN
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 22.1%
vs peers 20.3% · 8th of 16
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 28.5%
vs peers 24.7% · 8th of 16
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 14.1%
vs peers 13.2% · 6th of 16
Profit after everything, as a share of revenue. Learn more →
EPS ₹25.35
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has United Spirits made money for shareholders?

Yes: +3.8% over one year.

Shareholder returns

1-year return +3.8%
Price only
What the share price did over the last 12 months. Learn more →
5-year return Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−0.2%
1M
−0.3%
3M
−0.5%
6M
+10.9%
1Y
+3.8%
3Y
—
5Y
—
— not available

Does United Spirits pay a dividend?

Yes. United Spirits's dividend yield is 1.39% at the latest price; the last payout was ₹11.00 a share, ex-dividend 8 Jul 2026.

Dividends

Per share, by ex-dividend date
Dividend yield1.39%
The past 12 months' dividends as a share of today's price.
8 Jul 2026 · Final₹11.00
27 Jan 2026 · Interim₹6.00
1 Aug 2025 · Final₹8.00
3 Apr 2025 · Interim₹4.00
12 Jul 2024 · Final₹5.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is United Spirits growing?

Revenue 3 years 5.8% a year; profit 3 years 17.4% a year; revenue 5 years 6.5% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 5.8% a year
vs peers 8.0% · 10th of 14
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 17.4% a year
vs peers 8.6% · 5th of 14
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 6.5% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 17.9% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 17.3% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 36.8% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -19.7%
vs peers -21.6% · 8th of 13
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did United Spirits do last quarter?

United Spirits reported revenue of ₹2,708 Cr, up 3.3% on a year earlier and a net profit of ₹463 Cr, up 16.2% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹2,708 Cr
+3.3% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹463 Cr
+16.2% on a year earlier
What was left for shareholders after every cost and tax.

How does United Spirits compare with its peers?

Compared with 15 Fast Moving Consumer Goods (the sector, as the industry was too small); 9th of 16 on P/E; 8th of 16 on quality score.

Compared with 15 Fast Moving Consumer Goods (the sector, as the industry was too small)

15 companies

United Spirits against its peers

Largest 10 of 15 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
United Spirits Ltd₹99,356 Cr51.510.122.1%28.5%+3.8%
ITC Ltd₹3.3 L Cr16.85.229.4%38.0%−33.4%
Nestle India Ltd₹2.6 L Cr67.442.775.2%56.1%+12.2%
Varun Beverages Ltd₹1.5 L Cr44.18.815.2%19.4%−0.3%
Britannia Industries Ltd₹1.2 L Cr44.628.260.1%60.6%−17.7%
Marico Ltd₹1.0 L Cr53.916.537.0%41.7%+10.2%
Tata Consumer Products Ltd₹94,516 Cr57.85.69.4%11.7%−14.5%
Godrej Consumer Products Ltd₹88,055 Cr46.012.818.7%20.2%−22.5%
Dabur India Ltd₹68,599 Cr34.89.719.9%24.7%−20.7%
Radico Khaitan Ltd₹60,965 Cr86.610.820.3%24.0%+51.8%
Colgate-Palmolive (India) Ltd₹49,442 Cr36.730.781.6%104.1%−18.2%
Peer median—46.010.520.3%24.7%−17.7%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns United Spirits?

United Spirits is held by promoters 56.7%, foreign institutions 12.9%, domestic institutions 17.1%.

Shareholding pattern

Latest filing, percent of shares
Promoters56.7%
The founders and controlling group.
Foreign institutions12.9%
Overseas funds investing through the FPI route.
Domestic institutions17.1%
Indian insurers, banks, pension and mutual funds together.
Mutual funds15.0%
Indian mutual fund schemes; part of domestic institutions.
Retail and others5.2%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about United Spirits?

22 analysts cover United Spirits, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

22 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does United Spirits do and what is it sensitive to?

United Spirits Limited (USL) manufactures and sells beverage alcohol across 250+ SKUs spanning Scotch, IMFL whisky, brandy, rum, vodka, and gin through distributors, wholesalers, retailers and modern trade. Sensitive to: legal Drinking Age (LDA) consumer addition and age cohort demographics.

Business-model card

FY2025 · 46 verified
0Revenue
3Channels
2Regulators
2Reg. dependencies
6Sensitivities
4Costs
1Geographies

United Spirits Limited (USL) manufactures and sells beverage alcohol across 250+ SKUs spanning Scotch, IMFL whisky, brandy, rum, vodka, and gin through distributors, wholesalers, retailers and modern trade. The company sells over 60 million cases annually across 28 states and 6 union territories in India, with exports to 24 countries, and earns revenue from product sales, tie-up manufacturing arrangements, and brand franchise royalties.

Revenue by segment

year ended March 31, 2026 (Consolidated)
Beverage alcohol95.8%
Sports4.2%

Customers & channels

3 verified
Retail outlets including government-licensed liquor stores and supermarkets
Account for a significant portion of total alcohol sales. Growth of modern retail infrastructure has improved product visibility and accessibility for consumers.
On-premise consumption through bars, restaurants, hotels and entertainment venues
Continues to contribute significantly to overall demand, particularly in metropolitan cities and tourist destinations.
Distributors, wholesalers, retailers, aggregators, and modern trade channels
Variety of business models through which company sells over 60 million cases annually across 90,000+ outlets. Reach extends across 28 states and 6 union territories, supported by 1,500+ direct dispatch customer drop points.

Regulators

2 verified
State excise departments
Govern excise duties, taxation, licensing, retail policies, pricing structures, and direct distribution frameworks that vary by state and directly constrain market accessibility.
Government of India (central and state authorities)
Evolving government regulations, excise duties, and taxation changes create pricing volatility. Company engages continuously with key external stakeholders across regulatory levels.

Regulatory dependencies

2 verified
Excise duty framework and state-level excise policies
Complex regulatory environment with state-level variations in taxation, licensing and retail policies directly influence industry structure and future growth. Restriction on market accessibility and pricing volatility driven by evolving excise duties affects revenue and cost structure.
Product category taxation and slab structures
Excise duty rationalisation, slab corrections for premium brands, and refund mechanisms for brands supplied affect pricing power and margins across product tiers.

Sensitivities

6 verified
Legal Drinking Age (LDA) consumer addition and age cohort demographics
India will add 100 million LDA consumers in five years. Younger cohorts entering the category with different expectations drive premiumisation and new format adoption, positively affecting volume and value growth.
Women's participation in the category
Women's participation rising, driving growth in scotch, cocktails, malts, and white spirits. Positively influences category expansion and premium product adoption.
Consumer preference for moderation and reduced consumption
Increasing consumer preference for moderation driven by evolving consumer preferences may influence consumption patterns and impact long-term category growth, potentially affecting product positioning and brand communication.
3 more statements
Broader economic growth and disposable incomes
India at inflexion point as one of fastest growing large economies with booming middle and high-income class and projected GDP of $7 trillion by 2030. Rising affluence and disposable incomes in emerging markets drive demand for premium and luxury products.
Interest rate environment and investment returns
Sensitivity to changes in interest rates affects returns on debt mutual fund investments and term deposits held as financial assets.
Foreign exchange rates on exports
Primarily represented by receivables and payables towards export and imports. Company monitors foreign exchange rate movements to manage cash flow volatility, though exports contribute only 0.67% of total turnover.

Cost inputs

4 verified
Direct labour and fixed overhead expenditure in manufacturing
Cost of work-in-progress and finished goods comprises direct materials, direct labour and an appropriate proportion of variable and fixed overhead allocated on basis of normal operating capacity.
Trade allowances, rebates and value added taxes
Revenue from sale of goods is net of returns, trade allowances, rebates, value added taxes and amounts collected on behalf of third parties.
Advertising and promotion spend
₹1,295 Crores invested in advertising and promotion to build brand equity and maintain consumer engagement across portfolio.
1 more statement
Capital expenditure and manufacturing infrastructure maintenance
₹165 Crores capital expenditure and 35 manufacturing facilities (including third-party) operated to produce 61+ million cases annually.

Geographies

1 verified
India – 28 states and 6 union territories
Primary market. Company has reach of more than 90,000 outlets across 28 states and 6 union territories, supported by 1,500+ direct dispatch customer drop points. Revenue contribution (excluding discontinued operations) is ₹27,577 crores (FY2026).
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (22 Jul 2026).

Change log

8 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Corporate actionDividend - Rs 11 Per Share.
  3. Results filedQ4 FY2026 results filed.
  4. Corporate actionInterim Dividend - Rs 6 Per Share.
  5. Results filedQ3 FY2026 results filed.
  6. Results filedQ2 FY2026 results filed.
  7. Results filedQ1 FY2026 results filed.
  8. Corporate actionDividend - Rs 8 Per Share.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsCLEAN on 30 of 30 flags judged; no red flag.
  • Data gapsBusiness quality, 5-year return, Wealth destroyer: not available yet.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓100 months of month-end prices, adjusted for bonuses and splits (1 corporate action)○no valuation of ours yet✓business-model card FY2025 · 46 verified

Questions people ask

What is United Spirits's share price today?

United Spirits last traded at ₹1,349.70 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.2% on the day, up 3.8% over a year. Its 52-week range is ₹1,211 to ₹1,563. The live price is in the app.

What is United Spirits's market cap?

United Spirits's market capitalisation is about ₹99,356 crore: what it would cost to buy every share at today's price. That makes it the 17th largest mid cap company we cover.

Is United Spirits Ltd a large cap, mid cap or small cap?

United Spirits Ltd (UNITDSPR) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is United Spirits Ltd's P/E ratio?

51.51, vs peers 46.0 · 9th of 16. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is United Spirits Ltd overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 51.5 vs peers 46.0 (9th of 16); P/B 10.1 vs peers 10.5 (8th of 16).

How does United Spirits Ltd make money?

United Spirits Limited (USL) manufactures and sells beverage alcohol across 250+ SKUs spanning Scotch, IMFL whisky, brandy, rum, vodka, and gin through distributors, wholesalers, retailers and modern trade. The company sells over 60 million cases annually across 28 states and 6 union territories in India, with exports to 24 countries, and earns revenue from product sales, tie-up manufacturing arrangements, and brand franchise royalties.

Who are United Spirits Ltd's peers?

Compared with 15 Fast Moving Consumer Goods (the sector, as the industry was too small): ITC Ltd, Nestle India Ltd, Varun Beverages Ltd, Britannia Industries Ltd, Marico Ltd and 10 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did United Spirits do last quarter?

United Spirits reported revenue of ₹2,708 Cr, up 3.3% on a year earlier and a net profit of ₹463 Cr, up 16.2% in the Jun 2026 quarter.

Who owns United Spirits?

United Spirits is held by promoters 56.7%, foreign institutions 12.9%, domestic institutions 17.1%.

Does United Spirits pay a dividend?

Yes. United Spirits's dividend yield is 1.39% at the latest price; the last payout was ₹11.00 a share, ex-dividend 8 Jul 2026.

What do analysts say about United Spirits?

22 analysts cover United Spirits, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on United Spirits, and 6,621 other companies, with 212 filters and the full peer tables

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