For the second quarter ended in fiscal 2026, United Spirits Limited recorded a 36.1% year-over-year jump in consolidated net income to ₹ 464 crore and beat consensus. For the period, the firm’s earnings increased by 11.6% to ₹ 3,173 crore, excluding excise duties. The re-entry into the critical market of Andhra Pradesh and the firm’s impressive customer demand amid the usual burdensome regulations in Maharashtra helped raise the firm’s top line.
The company’s EBITDA grew 31.5% to Rs 660 crore, well above street estimates. Notably, EBITDA margin expanded from 7.5% in FY20 to 9.2% in the quarter under review. Total revenue, including excise, grew 7.9% to Rs 7,199 crore. As such, the improved profitability has been driven by revenue growth initiatives, product mix, strong brand performance, sustained productivity, and stable input commodity inflation levels.
The “Prestige and Above” segment accounted for 89.6% of net sales, a YOY increase, while the popular segment accounted for 8.8%. Praveen Someshwar, Chief Executive and Managing Director, United Spirits, expressed confidence in the Simpson-Half festive, holiday, and wedding seasons in Simpson-Half II, as commercial and marketing initiatives drive increased opportunities across the brand portfolio and overall category growth.
United Spirits’ shares responded favorably, closing 0.40% higher, a 7% intraday gain on the day of the results launch. They are currently down 14.2% year to date, but analyst reviews are quite bullish: one-third think people should keep purchasing, and the other two-thirds believe they should buy. The company’s strong quarterly results underline its market moves that could only occur in the last three months and reveal its ability to navigate the regulatory and competitive landscape while maintaining its premium legacy.
