United Spirits Ltd (NSE:UNITDSPR)
₹ 1,342.3 -1.2 (-0.09%) Market Cap: 975.89 Bil Enterprise Value: 949.10 Bil PE Ratio: 61.35 PB Ratio: 11.98 GF Score: 89/100
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Q3 2025 United Spirits Ltd Earnings Call Transcript

Jan 24, 2025 / 10:30 AM GMT
Release Date Price: ₹1469.75 (-2.06%)

Key Points

Positve
  • United Spirits Ltd (BOM:532432) reported a 14.8% year-on-year growth in net sales value for the quarter, with the prestige and above segment growing by 16.1%.
  • The company successfully launched new products, such as the McDowell's X series and Smirnoff Vodka flavors, which received positive market responses.
  • The company has seen strong growth in the Tequila segment, with Don Julio now available in over 20 cities and performing well during the festive season.
  • United Spirits Ltd (BOM:532432) has maintained a strong focus on premiumization, with no major signs of downtrading observed in its portfolio.
  • The company has effectively managed costs, with a gross margin improvement of 131 basis points over the prior year, driven by muted commodity inflation and ongoing cost productivity interventions.
Negative
  • The top-end market segment is experiencing relative moderation, impacting the company's price mix aspirations for the festive quarter.
  • The company faces ongoing inflationary pressures, particularly in neutral alcohol spirits, which remain high and could see further price increases.
  • There is a cautious optimism on the demand environment in the short term, with the company acknowledging potential challenges in maintaining growth momentum.
  • The company's growth in Andhra Pradesh includes retail pipeline filling, which may not be sustainable in future quarters.
  • The company is still lagging in covering past inflationary impacts, with ongoing advocacy needed to secure appropriate pricing adjustments.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

UNSP.NS - United Spirits Ltd
Q3 2025 United Spirits Ltd Earnings Call
Jan 24, 2025 / 10:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and Chairman. Good day and welcome to the United Spirits Limited Q3 F 525 earnings conference call.

As a reminder, all part of the lines will remain the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call? Please signal the operator by pressing star then zero on your touchtone telephone.

Please note that this conference is being recorded.

I now hand the conference over to MS Shweta Arora, Head of International Relations for United Spirits. Thank you and over to you.

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Unidentified_2 [2]
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