Motilal Oswal has a buy call on with a target price of Rs 685. The current market price of United Spirits is Rs 588.2.

United Spirits Ltd, incorporated in the year 1999, is a Large-Cap company with a market cap of Rs 42748.16 Crore, operating in Beverages-Alcoholic sector.

United Spirits Ltd’s key Products/Revenue Segments include Beverages (Alcohol), Income From Franchise, Scrap and Other Operating Revenue for the year ending 31-Mar-2020.

Investment Rationale

Changes to the model – due to the ongoing lockdowns amid the second Covid wave in India – have led to a ~35 per cent/17 per cent EPS cut in Motial Oswal’s FY22/FY23 estimates.

Nevertheless, the impact of the ongoing second wave on sales and profits is likely to be less severe than in FY21 given that home deliveries are permitted and there is far lower supply chain disruption. Furthermore, the earnings rebound may be very sharp beyond the next few months, especially with a leaner-than-expected balance sheet.


For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 2235.00 Crore, down 16.97 per cent from last quarter Total Income of Rs 2691.80 Crore and up 11.84 per cent from last year same quarter Total Income of Rs 1998.40 Crore. Company has reported net profit after tax of Rs 203.30 Crore in latest quarter.

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