Valuation United Spirits Limited

Equities

Market Closed - NSE India S.E. Other stock markets 11:49:46 18/11/2025 GMT			5-day change	1st Jan Change
1,434.70 ^INR	-0.01%		+1.43%	-11.74%

11-06	Adar Poonawalla Reportedly Plans to Buy the Royal Challengers Bengaluru Cricket Team	CI
11-04	United Spirits Initiates A Strategic Review of the Investment in Its Wholly Owned Subsidiary, RCSPL	CI

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	394,643	629,703	537,015	805,380	995,001	1,018,716	-	-
Change	-	59.56%	-14.72%	49.97%	23.54%	2.38%	-	-
Enterprise Value (EV) ¹	402,571	632,517	528,193	792,940	974,701	992,662	984,663	975,727
Change	-	57.12%	-16.49%	50.12%	22.92%	1.84%	-0.81%	-0.91%
P/E ratio	103x	76.1x	47.2x	57.2x	62.9x	56.8x	49.6x	43.6x
PBR	9.81x	13x	8.95x	11.5x	12.5x	11.5x	9.81x	8.87x
PEG	-	1x	1.3x	2.4x	5.1x	4.3x	3.4x	3.1x
Capitalization / Revenue	4.85x	6.48x	5.06x	7.11x	8.24x	7.8x	7.06x	6.37x
EV / Revenue	4.95x	6.51x	4.98x	7x	8.08x	7.6x	6.82x	6.1x
EV / EBITDA	38.2x	39.3x	37.3x	39.6x	43.5x	39.5x	34.6x	30.4x
EV / EBIT	53.4x	48.5x	46.6x	46x	49.7x	44.7x	39.3x	34.5x
EV / FCF	23.4x	75x	110x	77.7x	54.6x	64.9x	59.2x	49.7x
FCF Yield	4.27%	1.33%	0.91%	1.29%	1.83%	1.54%	1.69%	2.01%
Dividend per Share ²	-	-	-	9	8	11.11	11.48	13.7
Rate of return	-	-	-	0.79%	0.57%	0.77%	0.8%	0.96%
EPS ²	5.41	11.68	16.01	19.83	22.28	25.25	28.9	32.92
Distribution rate	-	-	-	45.4%	35.9%	44%	39.7%	41.6%
Net sales ¹	81,313	97,124	106,116	113,210	120,690	130,576	144,374	159,973
EBITDA ¹	10,527	16,081	14,169	20,010	22,430	25,143	28,480	32,108
EBIT ¹	7,536	13,043	11,330	17,250	19,600	22,226	25,062	28,262
Net income ¹	3,836	8,286	11,363	11,370	15,820	18,254	20,926	23,779
Net Debt ¹	7,928	2,814	-8,822	-12,440	-20,300	-26,055	-34,054	-42,989
Reference price ²	556.35	888.35	756.30	1,134.25	1,401.30	1,434.70	1,434.70	1,434.70
Nbr of stocks (in thousands)	709,343	708,846	710,055	710,055	710,055	710,055	-	-
Announcement Date	21/05/21	27/05/22	18/05/23	24/05/24	20/05/25	-	-	-

¹INR in Million²INR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
UNITED SPIRITS LIMITED	56.82x	7.6x	39.49x	0.77%	11.5B
KWEICHOW MOUTAI CO., LTD.	20.27x	8.94x	13.04x	3.81%	259B
WULIANGYE YIBIN CO.,LTD.	17.84x	4.48x	10.07x	4.26%	65.62B
SHANXI XINGHUACUN FEN WINE FACTORY CO.,LTD.	19.93x	6.22x	13.81x	3.02%	34.16B
LUZHOU LAOJIAO CO.,LTD	17.15x	6.27x	10.94x	4.01%	28.99B
JIANGSU YANGHE DISTILLERY CO., LTD.	24.62x	4.1x	14.25x	6.03%	14.51B
ANHUI GUJING DISTILLERY CO., LTD.	19.21x	3.07x	8.62x	3.48%	10.79B
DAVIDE CAMPARI-MILANO N.V.	19.03x	2.91x	11.83x	1.25%	7.85B
JIANGSU KING'S LUCK BREWERY JOINT-STOCK CO.,LTD.	15.86x	4.27x	10.62x	2.82%	6.76B
ANHUI YINGJIA DISTILLERY CO., LTD.	16.14x	5.05x	10.56x	2.9%	4.84B
Average	22.69x	5.29x	14.32x	3.23%	44.42B
Weighted average by Cap.	20.61x	7.35x	13.06x	3.75%