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    MCDOWELL-N   INE854D01024

UNITED SPIRITS LIMITED

(MCDOWELL-N)
  Report
End-of-day quote NSE India Stock Exchange  -  2023-01-26
767.15 INR   -0.18%
01/25United Spirits's Consolidated Profit Drops in Fiscal Q3
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01/25Transcript : United Spirits Limited, Q3 2023 Earnings Call, Jan 25, 2023
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01/24United Spirits to Sell Wholly-Owned Arm for INR320 Million
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India's United Spirits Dec-quarter profit falls as sales drop, expenses weigh

01/24/2023 | 10:00am EST
A bartender takes a bottle of Johnnie Walker whisky at Barmaglot bar in Almaty

BENGALURU (Reuters) - Indian alcoholic beverage maker United Spirits Ltd on Tuesday reported a 64.4% slump in quarterly profit, hurt by soaring input costs, falling sales and a one-time expense.

The maker of Johnny Walker whiskey reported a profit of 1.11 billion rupees ($13.61 million) in the quarter ended Dec. 31, down from 3.11 billion rupees in the previous year.

The sector has been grappling with high cost of extra neutral alcohol and soda ash. Meanwhile, bottle prices have spiked due to inflation in natural gas required for glass production.

The Bengaluru-based scotch maker's revenue fell 25% to 66.12 billion rupees in the quarter, while net sales fell nearly 10% to 2.78 billion rupees.

The company said it incurred a one-time expense of 1.51 billion rupees, while its input costs rose 4.6%.

"Looking ahead, in the shorter term, we do expect inflationary headwinds to continue," said Hina Nagarajan, chief executive of United Spirits.

The Diageo PLC-backed company had sold 32 brands in May last year, including Haywards and Old Tavern, to Inbrew Beverages on a slump sale basis.

Shares fell about 1.5% on Tuesday, ahead of the quarterly results.

($1 = 81.5750 Indian rupees)

(Reporting by Biplob Kumar Das in Bengaluru; Editing by Eileen Soreng)


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
DIAGEO PLC -1.44% 3422 Delayed Quote.-4.88%
S&P GSCI NATURAL GAS INDEX 0.04% 133.3926 Real-time Quote.-34.86%
UNITED SPIRITS LIMITED -0.18% 767.15 End-of-day quote.-12.58%
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Financials
Sales 2023 106 B 1 296 M 1 296 M
Net income 2023 10 338 M 127 M 127 M
Net Debt 2023 - - -
P/E ratio 2023 53,2x
Yield 2023 -
Capitalization 545 B 6 681 M 6 681 M
Capi. / Sales 2023 5,16x
EV / Sales 2024 4,90x
Nbr of Employees 3 145
Free-Float 40,4%
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Technical analysis trends UNITED SPIRITS LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 767,15 INR
Average target price 886,90 INR
Spread / Average Target 15,6%
EPS Revisions
Managers and Directors
Hina Nagarajan CEO, Director & Managing Director
Pradeep Jain Chief Financial Officer
Mahendra Kumar Sharma Independent Non-Executive Chairman
Manish Shetty Vice President-Information Technology
Subroto Geed Executive VP, COO-Popular & Franchise Business