United Spirits (NSE:UNITDSPR) Operating Income: ₹19,880 Mil (TTM As of Jun. 2026)

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NSE:UNITDSPR United Spirits Ltd NSE:UNITDSPR
88 GF Score
Price ₹1,510.00
GF Value ₹1,448.78
Valuation Fairly Valued
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What is United Spirits Operating Income?

United Spirits NSE:UNITDSPR -0.79% 88 Operating Income is ₹19,880 Mil as of Jun. 2026. GuruFocus rates NSE:UNITDSPR with a GF Score™ of 88/100 and a GF Value™ of ₹1,448.78 (Fairly Valued).

United Spirits's Operating Income for the three months ended in Jun. 2026 was ₹3,570 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was ₹19,880 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. United Spirits's Operating Income for the three months ended in Jun. 2026 was ₹3,570 Mil. United Spirits's Revenue for the three months ended in Jun. 2026 was ₹27,080 Mil. Therefore, United Spirits's Operating Margin % for the quarter that ended in Jun. 2026 was 13.18%.

Good Sign:

United Spirits Ltd operating margin is expanding. Margin expansion is usually a good sign.

United Spirits's 5-Year average Growth Rate for Operating Margin % was 10.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. United Spirits's annualized ROC % for the quarter that ended in Jun. 2026 was 14.60%. United Spirits's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 37.50%.


United Spirits  (NSE:UNITDSPR) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

United Spirits's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=14280 * ( 1 - 25.71% )/( (72670 + 0)/ 1 )
=10608.612/72670
=14.60 %

where

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

United Spirits's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=13960/( ( (13110 + max(24120, 0)) + (0 + max(0, 0)) )/ 1 )
=13960/( ( 37230 + 0 )/ 1 )
=13960/37230
=37.50 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(36090 + 26680 + 11750) - (41340 + 0 + 9060)
=24120

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

United Spirits's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=3570/27080
=13.18 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


United Spirits Operating Income Related Terms


United Spirits Operating Income Historical Data

* Premium members only.

The historical data trend for United Spirits's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

United Spirits Operating Income Chart

United Spirits Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13,043.00 11,350.00 17,270.00 17,860.00 19,970.00

United Spirits Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3,510.00 5,950.00 5,190.00 5,170.00 3,570.00
NSE:UNITDSPR
88GF Score
United Spirits Ltd NSE:UNITDSPR
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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United Spirits Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹19,880 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of ₹19,880 Mil mean?
United Spirits (NSE:UNITDSPR) has a Operating Income of ₹19,880 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on United Spirits and its competitors.
Is United Spirits' Operating Income too high?
United Spirits' current Operating Income is ₹19,880 Mil. Overall, United Spirits has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does United Spirits' Operating Income compare to BF.B?
United Spirits' Operating Income of ₹19,880 Mil can be compared against companies in the Beverages - Alcoholic industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Beverages - Alcoholic company?
A good Operating Income depends on the Beverages - Alcoholic industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on United Spirits and its competitors. United Spirits's current Operating Income is ₹19,880 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Spirits stock overvalued right now?
Based on GuruFocus' analysis, United Spirits (NSE:UNITDSPR) is currently considered Fairly Valued. The stock's GF Value™ is ₹1,448.78, compared to a current price of ₹1,510.00 — trading 4.2% above its estimated fair value. The current Operating Income is ₹19,880 Mil. United Spirits' overall GF Score™ is 88/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For United Spirits (NSE:UNITDSPR), the current Operating Income is ₹19,880 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is United Spirits (NSE:UNITDSPR) Overvalued in 2026?

Based on GuruFocus' analysis, United Spirits stock appears to be overvalued. The current stock price of ₹1,510.00 is trading 4.2% above its estimated GF Value™ of ₹1,448.78. GuruFocus considers United Spirits to be Fairly Valued.

Key valuation signals for NSE:UNITDSPR:

  • Operating Income: ₹19,880 Mil
  • GF Value™: ₹1,448.78 vs. price of ₹1,510.00 (4.2% above fair value)
  • GF Score™: 88/100

No single metric tells the full story. See the NSE:UNITDSPR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


United Spirits Business Description

Other Exchanges 532432:India
Address No. 24, Vittal Mallya Road, UB Tower, Bengaluru, KA, IND, 560001
United Spirits Ltd manufactures and sells spirits, beer, wine, and other alcoholic beverages. The company is engaged in the business of manufacture, purchase, and sale of beverage alcohol and other allied spirits, including through tie-up manufacturing units and strategic franchising of some of its brands. Its brand portfolio consists of McDowell's No.1, Royal Challenge, Black Dog, Signature, Antiquity, Director's Special Black, McDowell's Rum, McDowell's Brandy, Bagpiper, Old Tavern, and Haywards among others. Geographically, the firm generates a majority of its revenue from India. The company's segment includes: Beverage alcohol; and Sports. It derives maximum revenue from Beverage alcohol that manufacture, purchase, franchise and sale of beverage alcohol and other allied spirits.
88GF Score

Get the complete analysis for NSE:UNITDSPR

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,510.00
Price
₹1,448.78
GF Value