United Spirits - 4QFY2013 Result Update - Angel Broking

For 4QFY2013 United Spirits posted a 11.3% yoy growth in to Rs. 2,094cr, which was slightly below our estimates. Volume growth stood at 4% for the quarter. Volume growth in Prestige and strategic brands stood at 30%. OPM came in line with estimates at 11.3%. Bottom-line stood at Rs. 56cr impacted by Rs. 22cr of exceptional items.

We maintain our Neutral recommendation on the stock.

Source : Equity Bulls

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