In Wednesday’s trading session, the shares of a leading beverage alcohol company in India, surged by 6.5 percent on BSE to hit a new 52-week high at Rs. 1,416.85, after reporting financial results for Q1 FY24-25 with a rise in the net profit by 101.2 percent QoQ and 1.7 percent YoY.
At 11:21 a.m., the shares of United Spirits Limited were trading in the green at Rs. 1,405.9, up by 5.7 percent, as against its previous closing price of Rs. 1,330.25, with a market cap of Rs. 1.02 lakh crores.
What’s the News:
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the stock exchanges on Tuesday post-market hours.
The consolidated revenue from operations for Q1 FY24-25 stood at Rs. 6,238 crores, marking a 7.4 percent YoY rise from Rs. 5,808 crore in Q1 FY23-24, but a 4.2 percent decline quarter-on-quarter from Rs. 6,511 crore in Q4 FY23-24.
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The net profit jumped by 1.7 percent to Rs. 485 crore in Q1 FY24-25 as against Rs. 477 crore in Q1 FY23-24, and on a quarter-on-quarter basis, it grew by 101.2 percent from Rs. 241 crore in Q4 FY23-24.
The consolidated EBITDA of United Spirits stood at Rs. 713 crore, almost flat from prior year comparators.
Additionally, the company’s Board approved investments in V9 Beverages Private Limited (Sober) for an aggregate consideration of nearly Rs. 2.3 crore as well as Indie Brews and Spirits Private Limited (Quaffine) for an amount of Rs. 5 crore.
Shareholding Pattern:
As per the shareholding pattern of June 2024, the Promoters hold a 56.67 percent stake in the company, Foreign Institutional Investors (FII) hold a 15.1 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 14.22 percent and 14.01 percent stake in United Spirits, respectively.
Stock performance:
The stock has delivered positive returns of nearly 43.3 percent in one year as well as around 26 percent returns in the last six months. So far in 2024, the shares of United Spirits have given about 26.7 percent of positive returns.
About the company:
United Spirits Limited is engaged in the business of manufacture (including through third-party manufacturing facilities), purchase and sale of beverage alcohol (including franchising of some of its brands in certain states), and other allied spirits.
In addition, United Spirits, together with its subsidiaries and its controlled trust, have rights to operate sports franchise through Royal Challengers Sports Private Limited.
Written by Shivani Singh
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