iStockICICI Securities has add call on with a target price of Rs 950. The current market price of United Spirits Ltd. is Rs 852.2. Time period given by analyst is one year when United Spirits Ltd. price can reach defined target.
United Spirits Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 63577.25 Crore) operating in Beverages - Alcoholic sector.
United Spirits Ltd. key Products/Revenue Segments include Beverages (Alcohol), Income From Franchise, Scrap and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 2947.50 Crore, up 17.36 % from last quarter Total Income of Rs 2511.40 Crore and up 9.50 % from last year same quarter Total Income of Rs 2691.80 Crore. Company reported net profit after tax of Rs 295.30 Crore in latest quarter.
Investment Rationale
The brokerage cuts earnings estimate for FY23 by 9%; modelling revenue / EBITDA / PAT CAGR of 15% / 29% / 45% over FY21-24E. It maintains ADD with DCF-based revised target price of Rs950. Key downside risks are significant downtrading due to tax hikes, continued weakness in on-trade due to operating restrictions and a potential ban of spirits in states.
Promoter/FII Holdings
Promoters held 56.73 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.94 per cent, DIIs 10.41 per cent.
United Spirits Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 63577.25 Crore) operating in Beverages - Alcoholic sector.
United Spirits Ltd. key Products/Revenue Segments include Beverages (Alcohol), Income From Franchise, Scrap and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 2947.50 Crore, up 17.36 % from last quarter Total Income of Rs 2511.40 Crore and up 9.50 % from last year same quarter Total Income of Rs 2691.80 Crore. Company reported net profit after tax of Rs 295.30 Crore in latest quarter.
Investment Rationale
The brokerage cuts earnings estimate for FY23 by 9%; modelling revenue / EBITDA / PAT CAGR of 15% / 29% / 45% over FY21-24E. It maintains ADD with DCF-based revised target price of Rs950. Key downside risks are significant downtrading due to tax hikes, continued weakness in on-trade due to operating restrictions and a potential ban of spirits in states.
Promoter/FII Holdings
Promoters held 56.73 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.94 per cent, DIIs 10.41 per cent.
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