Q4FY21 Result Update - United Spirits - ICICI Direct

United Spirits continued its strong momentum in Q4, reporting 8% YoY growth in volumes mainly led by resilience in off-trade channels and strong performance of prestige and above segment. Net revenues grew 12% YoY to Rs. 2224 crore (I-direct estimate: Rs. 1991 crore) in spite of softer on-trade channel. Prestige & above segment volumes grew 19% YoY to 10 million cases while popular segment reported largely flat volumes at 9.7 million cases. EBITDA margins expanded 490 bps YoY to 18.5% and came in above I-direct estimate of 16%, due to better product mix and improved productivity (gross margins were at 43.9% vs. 42.2% in Q4FY20). EBITDA grew 52% YoY to Rs. 412 crore. Subsequently, reported PAT grew 6x to Rs. 167 crore on a weak base (I-direct estimate of Rs. 177 crore), as strong operational performance was negated by an exceptional expense of Rs. 76 crore.

For details, click on the link below: Link to the Report

Shares of UNITED SPIRITS LTD. was last trading in BSE at Rs.588.2 as compared to the previous close of Rs. 572.7. The total number of shares traded during the day was 310082 in over 7906 trades.

The stock hit an intraday high of Rs. 594.45 and intraday low of 574.1. The net turnover during the day was Rs. 181837372.

Source : Equity Bulls

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