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    United Spirits Limited

    Diageo India's spirits arm: manufactures & distributes 50+ alcobev brands incl. Johnnie Walker, McDowell's.

    Fast Moving Consumer Goods
    Fast Moving Consumer Goods
    View UNITDSPR earnings calls
    ₹1,320.5
    +2.23% from avg

    Overview

    Price

    ₹1,320.5

    Market Cap

    ₹1.1L Cr

    Sector

    Fast Moving Consumer Goods

    Fast Moving Consumer Goods

    Rank

    4

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital145145146145145145145145
    Reserves3.7k4.0k4.7k5.8k6.8k7.7k8.3k8.6k
    Borrowings2.3k713605183240480412405
    Other Liabilities2.5k3.3k3.2k3.4k3.5k4.4k4.7k4.7k
    Total Liabilities8.6k8.1k8.7k9.6k10.7k12.7k13.5k13.9k
    AssetsFixed Assets1.3k1.3k1.5k1.2k1.2k1.4k1.8k1.3k
    CWIP11986968337728170
    Investments2532024394628231.1k1.3k1.5k
    Other Assets6.8k6.6k6.7k7.8k8.6k10.1k10.3k11.1k
    Total Assets8.6k8.1k8.7k9.6k10.7k12.7k13.5k13.9k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating8586671.7k9115769131.6k1.5k
    Cash from Investing-72613-246-22466-950-335
    Cash from Financing-912-717-1.7k-688-500-439-527-1.4k
    SummaryCapital Expenditure
    Free Cash Flow7924691.6k8154638341.4k1.6k
    FCF Margin

    Valuation

    Assumptions

    Current — UNITDSPR
    Price
    ₹1,321
    EPS (TTM)
    ₹24.17
    PE (TTM)
    54.6
    Profit growth
    22.3%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (71.5×) and current (54.6×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹1,321
    vs
    Fair value · 15% return
    ₹1,655
    25%Undervalued

    At 22.3% growth and a 55× exit, ₹1321 only delivers your return if you pay ₹1,655. The price is currently baking in 17% growth.

    EPS grows 22.3%/yr for 5 years, then fades to 6% over 2, exits at 55×.

    YearGrowthEPS (₹)
    FY2722.3%29.56
    FY2822.3%36.15
    FY2922.3%44.21
    FY3022.3%54.07
    FY3122.3%66.13
    FY3214.2% ·fade75.49
    FY336.0% ·fade80.02

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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