ADVERTISEMENT
United Spirits Q3 Review - HDFC Securities Maintains 'Buy' On The Stock, Hikes Target Price — Here's Why
One should be mindful of the fact that United Spirits' margins for premium products are capped at 10% if they are procured from Diageo’s stable, adds the brokerage.
27 Jan 2025, 10:32 AM IST 
United Spirits Ltd.'s Q3 FY25 results were broadly in line with estimates; however, volume growth surprised positively.
(Source: Company website)
In the brokerages' view, Radico offers a much better risk-reward profile compared to United Spirits at similar valuations, given its much better earnings CAGR (35% FY24-27) versus United Spirits’ (14% CAGR) and its ability to fully participate in the premiumization story.
