Obermatt

United Spirits

NSI:UNITDSPR · INE854D01024
BeveragesLarge

360

48
EV / EBIT3
Price / Owner Earnings11
Owner Earnings Yield32
Dividend Yield33
Price/Sales5
EV / Gross Profit4
Price/Book8
Return on Capital76
Cash Return on Capital86
Return on Equity70
EBIT Margin57
Gross Profitability74
Cash Conversion4
Owner Earnings Margin86
Sales growth87
Profit Growth63
Long-Term EPS Growth88
Reinvestment56
Price momentum20
Debt load87
Refinancing44
Debt Payback100
Liquidity74
Analyst ratings54
Opinion Changes48
Price Target Upside54
Market mood89
Value Creation13/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

United Spirits clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Based on 3/5 components.

Profile

CountryUK
IndustryBeverages
SizeLarge
TypePublic Company
ExchangeNSEI
Founded1999
Employees2,336
ISININE854D01024
Last UpdateApr 2, 2026
Index & Theme
DistillerySports Franchises, Leagues & ClubsFood and BeverageManufacturingWine And Spirits

Description

United Spirits Limited, together with its subsidiaries, engages in the manufacture, sale, and distribution of alcoholic beverages and other allied spirits in India and internationally. Business Segments Business Segments The company operates throu…

Analysis

Hope premium

United Spirits Limited is priced well ahead of what the underlying numbers justify, a pattern we describe as a hope premium. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is expensive. The owner-earnings multiple stands at 42.2×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 16% a year, against analyst forecasts of 14%. The price, in other words, assumes less than the experts do.

Growth is solid; the safety picture is sturdy. The company scores 13/20 on our value-creation score: creating some value.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
72
2023202420252026

All-time high

79

Mar 2026

All-time low

13

Jan 2023

Average rank

47

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
5
3
7
5
Price/Earnings
3
7
9
5
Price/Book
8
17
12
12
Dividend Yield
33
13
9
1
Value (overall)
6
5
5
1

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →