Press Release for quarter and year ended March 31, 2026
UNITDSPR · price
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United Spirits reported FY26 standalone NSV of INR 12,448 Cr (+7.6%) and EBITDA of INR 2,296 Cr (+11.6%) with margin expansion to 18.4% (up 66 bps). PAT grew 17.5% to INR 1,830 Cr. Q4FY26 saw NSV of INR 3,046 Cr (+3.4%) and EBITDA of INR 591 Cr (+17.0%) with margin at 19.4%. The company faced adverse Maharashtra Made Liquor policy impact but delivered resilient performance with gross margin expanding 281 bps in Q4 to 47.3%. Prestige & Above segment now accounts for 89.6% of sales (up 1.1 ppt), reflecting strong premiumisation. The Board approved sale of 100% stake in Royal Challengers Sports Private Limited and recommended final dividend of INR 11 per share.
Strong double-digit EBITDA growth and margin expansion indicate operational efficiency gains despite state-level policy headwinds. The premiumisation trend and Karnataka policy relaxation support the company's medium-term double-digit growth guidance. Sale of RCSPL sharpens focus on core beverage alcohol business.