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United Spirits Ltd posts consolidated PAT of Rs. 287 crore in Q3 FY2020-21
Posted On : 2021-01-27 19:46:07( TIMEZONE : IST )
UNITED SPIRITS LTD. has reported financial results for the period ended December 31, 2020.
Financial Results (Q3 FY20-21) - QoQ Comparison
The company has reported total income of Rs.8429.1 crores during the period ended December 31, 2020 as compared to Rs.7520.4 crores during the period ended September 30, 2020.
The company has posted net profit / (loss) of Rs.287 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.129.4 crores for the period ended September 30, 2020.
The company has reported EPS of Rs.4.05 for the period ended December 31, 2020 as compared to Rs.1.82 for the period ended September 30, 2020.
| Financials | Q3 FY20-21 | Q2 FY20-21 | % Change |
| Total Income | ₹ 8429.1 crs | ₹ 7520.4 crs |  12.08% |
| Net Profit | ₹ 287 crs | ₹ 129.4 crs | 121.79% |
| EPS | ₹ 4.05 | ₹ 1.82 | 122.53% |
Financial Results (Q3 FY20-21) - YoY Comparison
The company has reported total income of Rs.8429.1 crores during the period ended December 31, 2020 as compared to Rs.7818.1 crores during the period ended December 31, 2019.
The company has posted net profit / (loss) of Rs.287 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.235.3 crores for the period ended December 31, 2019.
The company has reported EPS of Rs.4.05 for the period ended December 31, 2020 as compared to Rs.3.32 for the period ended December 31, 2019.
| Financials | Q3 FY20-21 | Q3 FY19-20 | % Change |
| Total Income | ₹ 8429.1 crs | ₹ 7818.1 crs | 7.82% |
| Net Profit | ₹ 287 crs | ₹ 235.3 crs | 21.97% |
| EPS | ₹ 4.05 | ₹ 3.32 | 21.99% |
Financial Results (9 Months ended FY 20-21) - YoY Comparison
The company has reported total income of Rs.19775.4 crores during the 9 months period ended December 31, 2020 as compared to Rs.22418.8 crores during the 9 months period ended December 31, 2019.
The company has posted net profit / (loss) of Rs.174.9 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.600.5 crores for the 9 months period ended December 31, 2019.
The company has reported EPS of Rs.2.47 for the 9 months period ended December 31, 2020 as compared to Rs.8.47 for the 9 months period ended December 31, 2019.
| Financials | 9 Months ended FY20-21 | 9 Months ended FY19-20 | % Change |
| Total Income | ₹ 19775.4 crs | ₹ 22418.8 crs |  -11.79% |
| Net Profit | ₹ 174.9 crs | ₹ 600.5 crs | -70.87% |
| EPS | ₹ 2.47 | ₹8.47 | -70.84% |
Anand Kripalu, CEO, commenting on the quarter and nine months ended 31 December 2020 said: "The reported revenue decline of 3.6% in the third quarter reflects improving consumer sentiment over previous quarters, notwithstanding on-premise footfalls still being low, the route to market change in Andhra Pradesh and taxation led price hikes post Covid-19. Operational resilience, contextual marketing with focus on in-home occasions and renovation of our core brands supported the top-line recovery.
Prestige & Above segment net sales moderately declined 0.8% in Q3, albeit lapping strong normal festive base comparatives. Scotch performance continues to be encouraging.
The third quarter witnessed benign commodities which, along with continued productivity, facilitated marginal expansion of gross margin to 44.6%.
The company maintained its marketing reinvestment rate for the quarter @ a healthy 9.4%. Reported EBITDA margin for the quarter was 15.4% and we delivered a PAT of Rs. 230 Crores.
Overall, performance for the nine months remains impacted by first quarter disruption in sales and supply chain on account of the pandemic and lower fixed cost absorption as a consequence. Contraction of owned and franchise business in AP due to the route to market change further impacted performance adversely. Notwithstanding the resilient second and third quarter performance, our underlying net sales in the first nine months declined 18.2%, EBITDA margin contracted to 10.2%. with a PAT of Rs. 143 Crores.
Operating cash flow remained strong and external debt reduced consistently through the nine months. CRISIL has reaffirmed its 'CRISIL AA+/Positive' ratings on the bank facilities and debt programmes.
Despite a quicker rebound than originally expected, in the near term there are still reasons to remain cautious and consequently, the company is not providing quantitative guidance for fiscal 2021. Our business continues to exhibit strong fundamentals and our focus to "Emerge stronger" will hold us in good stead."
Shares of UNITED SPIRITS LTD. was last trading in BSE at Rs.644.75 as compared to the previous close of Rs. 634.6. The total number of shares traded during the day was 125152 in over 3661 trades.
The stock hit an intraday high of Rs. 649.65 and intraday low of 629.5. The net turnover during the day was Rs. 80394688.
