United Spirits Share Price: Brokerages gave a mixed response on United Spirits following its Q4FY26 results, with some flagging near-term headwinds even as others see moderate upside. While Citi has suspended its rating, Motilal Oswal has maintained a ‘Neutral’ stance with a target price of Rs 1,500, implying up to 13 per cent upside from current levels. The company reported steady revenue growth and strong margin expansion during the quarter, although weakness in certain state markets and segments continues to weigh on overall performance.
Brokerages On United Spirits
MOSL On United Spirits
- Maintain Neutral with an unchanged TP of Rs 1500
- Broadly maintain our estimates for FY26-FY28E
- Soft top-line performance; healthy margin delivery
- Model revenue and EBITDA CAGR of 10 per cent/11 per cent over FY26-28E
Citi on United Spirits
- Rating Suspended
- Q4FY26 net revenue grows 2% YoY
- EBITDA rises 12% YoY with margin expanding 180bps
- Maharashtra policy impacts lower prestige and popular segment volumes
- Ex-Maharashtra and Andhra Pradesh, revenue growth at 8.5 per cent
- Brokerage says profitability remained ahead of estimates despite weak volume growth
Goldman Sachs on United Spirits
- Maintain Buy
- Target price: Rs 1,480
- Management aims for double-digit revenue growth in FY27
- Maharashtra slowdown impacts FY26 growth
- McDowell’s relaunch seen as key FY27 growth driver
- Luxury portfolio momentum remains strong
- India-UK trade deal may support margins via lower import duties
- Higher packaging costs could pressure margins near term
United Spirits Q4FY26
United Spirits Ltd reported a net sales value (NSV) of Rs 3,054 crore for Q4FY26, reflecting a 3.7 per cent increase compared with the same period last year. The company recorded a profit after tax (PAT) of Rs 568 crore during the quarter. For the full financial year, NSV stood at Rs 12,467 crore, marking a 7.7 per cent year-on-year growth. Annual PAT rose to Rs 1,709 crore, up from Rs 1,582 crore reported in FY25. On a standalone basis, the Prestige & Above (P&A) segment delivered a 5 per cent growth in Q4. However, performance during the quarter was partly impacted by Maharashtra Made Liquor (MML), which weighed on both the popular and lower prestige segments in the state.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
