Add United Spirits, target price Rs 940: ICICI Securities

ICICI Securities has add call on United Spirits with a target price of Rs 940. The current market price of United Spirits Ltd. is Rs 872.5.

United Spirits Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 63428.29 Crore) operating in Beverages - Alcoholic sector.

United Spirits Ltd. key Products/Revenue Segments include Beverages (Alcohol), Income From Franchise, Scrap and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 2918.60 Crore, up 19.36 % from last quarter Total Income of Rs 2445.30 Crore and up 16.21 % from last year same quarter Total Income of Rs 2511.40 Crore. Company reported net profit after tax of Rs 548.20 Crore in latest quarter.

Investment Rationale
The brokerage reiterates ADD on UNSP as we believe UNSP under Hina's leadership is targeting double-digit revenue growth over the medium term through Portfolio re- shape.

Promoter/FII Holdings
Promoters held 56.73 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.76 per cent, DIIs 11.35 per cent.