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This Article is From Jun 10, 2024

United Spirits - Aging Profitably; Yes Securities Initiates Coverage With An 'Add' Rating

United Spirits - Aging Profitably; Yes Securities Initiates Coverage With An 'Add' Rating
Range of liquor brands manufactured by United Spirits Ltd. (Source: Company website)
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United Spirits Ltd.
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NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Yes Securities Report

We initiate coverage on United Spirits Ltd./Diageo India with Rs 1,320 target price and an Add rating. Our view is underpinned by the following argument:

  1. AlcoBev consumption opportunity is healthy despite the stringent regulations that govern the sector,

  2. Premiumization and category additions to aid double digit growth,

  3. Profitability per case improvement shows an upward trend,

  4. Ebitda/earnings to grow at ~15%/13% compound annual growth rate over FY24-26E on improved ratios.

Click on the attachment to read the full report:

Yes Securities United Spirits Initiating Coverage Note.pdf
VIEW DOCUMENT

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

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