United Spirits Ltd
United Spirits is engaged in the business of manufacture, purchase and sale of beverage alcohol and other allied spirits, including through tie-up manufacturing units and through strategic franchising of some of its brands.
- Market Cap ₹ 40,463 Cr.
- Current Price ₹ 557
- High / Low ₹ 662 / 443
- Stock P/E 150
- Book Value ₹ 49.8
- Dividend Yield 0.00 %
- ROCE 20.8 %
- ROE 17.4 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 21.19% CAGR over last 5 years
Cons
- Stock is trading at 11.19 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 0.15% over past five years.
- Company's cost of borrowing seems high
Peer comparison
Sector: Alcoholic Beverages Industry: Breweries & Distilleries
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Jun 2012 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,434 | 2,271 | 2,238 | 2,514 | 2,318 | 2,433 | 2,314 | 2,588 | 1,990 | 1,032 | 2,196 | 2,673 | |
2,183 | 1,948 | 1,810 | 2,158 | 2,033 | 1,943 | 1,907 | 2,163 | 1,744 | 1,124 | 1,906 | 2,216 | |
Operating Profit | 251 | 322 | 429 | 357 | 284 | 490 | 407 | 425 | 247 | -92 | 290 | 457 |
OPM % | 10% | 14% | 19% | 14% | 12% | 20% | 18% | 16% | 12% | -9% | 13% | 17% |
Other Income | 50 | 4 | 11 | 47 | 10 | 4 | 5 | 6 | 74 | -70 | 11 | 39 |
Interest | 213 | 62 | 48 | 62 | 65 | 58 | 50 | 51 | 53 | 56 | 56 | 43 |
Depreciation | 50 | 58 | 50 | 51 | 56 | 63 | 71 | 66 | 85 | 74 | 69 | 79 |
Profit before tax | 38 | 206 | 342 | 290 | 174 | 372 | 290 | 314 | 184 | -292 | 176 | 374 |
Tax % | 202% | 30% | 35% | 31% | 33% | 51% | 46% | 26% | 73% | 15% | 29% | 25% |
Net Profit | -39 | 147 | 226 | 204 | 123 | 202 | 163 | 235 | 58 | -242 | 129 | 287 |
EPS in Rs | -0.60 | 2.03 | 3.11 | 2.81 | 1.69 | 2.78 | 2.24 | 3.24 | 0.80 | -3.32 | 1.78 | 3.95 |
Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5,412 | 6,282 | 7,280 | 9,139 | 10,378 | 10,508 | 9,254 | 8,495 | 8,818 | 8,591 | 9,341 | 9,325 | 7,891 | |
5,024 | 5,566 | 6,137 | 8,027 | 9,287 | 13,876 | 9,619 | 8,162 | 7,863 | 7,446 | 7,949 | 7,785 | 6,989 | |
Operating Profit | 388 | 716 | 1,144 | 1,111 | 1,091 | -3,368 | -366 | 333 | 955 | 1,145 | 1,391 | 1,541 | 902 |
OPM % | 7% | 11% | 16% | 12% | 11% | -32% | -4% | 4% | 11% | 13% | 15% | 17% | 11% |
Other Income | 124 | 167 | 248 | 247 | 146 | 681 | -360 | 648 | -228 | 236 | 72 | 117 | 55 |
Interest | 738 | 619 | 456 | 876 | 985 | 1,323 | 687 | 457 | 375 | 278 | 237 | 212 | 207 |
Depreciation | 93 | 95 | 102 | 147 | 178 | 203 | 223 | 157 | 189 | 192 | 215 | 285 | 307 |
Profit before tax | -318 | 169 | 834 | 335 | 73 | -4,213 | -1,635 | 366 | 163 | 912 | 1,012 | 1,160 | 442 |
Tax % | -28% | 114% | 32% | 44% | 244% | -7% | -3% | 61% | 43% | 28% | 32% | 47% | |
Net Profit | -408 | -23 | 570 | 188 | -101 | -4,489 | -1,688 | 138 | 100 | 634 | 700 | 659 | 233 |
EPS in Rs | -8.16 | -0.36 | 8.71 | 2.87 | -1.55 | -61.78 | -23.23 | 1.90 | 1.38 | 8.72 | 9.64 | 9.07 | 3.21 |
Dividend Payout % | -5% | -138% | 6% | 17% | -31% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 4% |
5 Years: | 0% |
3 Years: | 2% |
TTM: | -18% |
Compounded Profit Growth | |
---|---|
10 Years: | 48% |
5 Years: | 21% |
3 Years: | 25% |
TTM: | -63% |
Stock Price CAGR | |
---|---|
10 Years: | 10% |
5 Years: | 3% |
3 Years: | -2% |
1 Year: | -14% |
Return on Equity | |
---|---|
10 Years: | -8% |
5 Years: | 20% |
3 Years: | 22% |
Last Year: | 17% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
103 | 121 | 126 | 126 | 126 | 145 | 145 | 145 | 145 | 145 | 145 | 145 | 145 | |
Reserves | 2,283 | 3,653 | 4,053 | 4,536 | 4,661 | 2,887 | 514 | 1,489 | 1,640 | 2,394 | 3,065 | 3,702 | 3,470 |
Borrowings | 7,804 | 5,850 | 6,711 | 8,164 | 8,242 | 8,307 | 4,987 | 4,242 | 4,144 | 3,421 | 2,883 | 2,570 | 1,004 |
1,655 | 1,773 | 2,020 | 3,031 | 3,453 | 3,518 | 2,242 | 2,452 | 2,967 | 2,966 | 3,016 | 2,426 | 4,349 | |
Total Liabilities | 11,842 | 11,397 | 12,909 | 15,857 | 16,483 | 14,858 | 7,889 | 8,329 | 8,896 | 8,926 | 9,109 | 8,844 | 8,968 |
6,101 | 5,970 | 6,372 | 7,881 | 7,869 | 5,700 | 1,921 | 1,887 | 1,917 | 1,791 | 1,841 | 1,956 | 1,935 | |
CWIP | 29 | 94 | 103 | 108 | 131 | 110 | 114 | 282 | 199 | 102 | 118 | 121 | 118 |
Investments | 950 | 127 | 154 | 236 | 218 | 238 | 216 | 77 | 0 | 0 | 25 | 22 | 21 |
4,762 | 5,207 | 6,280 | 7,632 | 8,265 | 8,810 | 5,637 | 6,084 | 6,780 | 7,033 | 7,124 | 6,745 | 6,894 | |
Total Assets | 11,842 | 11,397 | 12,909 | 15,857 | 16,483 | 14,858 | 7,889 | 8,329 | 8,896 | 8,926 | 9,109 | 8,844 | 8,968 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
235 | 1,591 | -116 | 756 | 1,969 | -552 | -196 | 283 | 647 | 925 | 948 | 783 | |
86 | -372 | -319 | -1,070 | -1,121 | -252 | 3,855 | 733 | -227 | 104 | -66 | -194 | |
-417 | -900 | 278 | 22 | -992 | 1,235 | -4,002 | -1,155 | -475 | -966 | -808 | -740 | |
Net Cash Flow | -95 | 320 | -157 | -292 | -145 | 431 | -343 | -139 | -56 | 63 | 74 | -150 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROCE % | 4% | 7% | 12% | 10% | 8% | -24% | -3% | 15% | 15% | 18% | 20% | 21% |
Debtor Days | 60 | 78 | 70 | 71 | 85 | 79 | 69 | 99 | 122 | 115 | 99 | 89 |
Inventory Turnover | 1.02 | 1.18 | 1.23 | 1.34 | 1.44 | 2.16 | 2.24 | 2.58 | 1.62 | 1.40 | 1.57 | 1.84 |
Documents
Add documentRecent announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Mar
- Announcement under Regulation 30 (LODR)-Credit Rating 26 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Feb
- Announcement - Updates 23 Feb
View all
Annual reports
- Financial Year 2020 from bse
- Financial Year 2019 from bse
- Financial Year 2018 from bse
- Financial Year 2017 from bse
- Financial Year 2016 from bse
- Financial Year 2015 from bse
- Financial Year 2014 from bse
- Financial Year 2013 from bse
- Financial Year 2012 from bse
- Financial Year 2012 from nse
- Financial Year 2011 from bse
- Financial Year 2011 from nse
- Financial Year 2010 from bse
- Financial Year 2010 from nse