United Spirits' PAT declined ~12% yoy at Rs178.60 crore for Q4FY22; stock marginally down

31 May 2022 , 12:05 PM

United Spirits Limited announced its results for the quarter and fiscal year ended March 31, 2022.

The company has posted a net profit of Rs178.60 crore during the quarter under review, down by 12.1% yoy as compared to Rs203 crore in the previous corresponding quarter.

Whereas, revenue for the quarter logged a marginal gain of 1.16% yoy at Rs7,767.30 crore as compared to Rs7,678.10 crore in Q4FY21.

For FY22, the company’s net profit increased to Rs810.6 crore as compared to Rs362.1 crore in the previous financial year, up manyfold.

Its revenue from operations was at Rs3,106.18 crore in FY22, registering a 13.28% yoy jump as compared to Rs2,741.85 crore in the previous financial year. For FY22, the company’s net sales increased 18.9% yoy.

At the operating level, EBITDA grew 9% yoy in Q4FY22 to Rs431.8 crore as against Rs396.3 crore in Q4FY21. EBITDA margin stood at 17% in Q4FY22 as compared to 17.8% in Q4FY21.

EBITDA for FY22 was reported at Rs1,511 crore. 

UNSP announced slump sale of 32 brands in its popular portfolio, with FY22 revenue/EBITDA of Rs7.6 billion/Rs1.2 billion to Inbrew for a cash consideration of Rs8.2 billion (~7x EV/EBITDA). Further, it entered a 5- year franchise arrangement with Inbrew for 11 other brands, with an option of perpetual rights or acquiring the brand at a pre-determined consideration of Rs1.33bn.

United Spirits is currently trading at Rs821.30 down by Rs1.85 or 0.22% from its previous closing of Rs823.15 on the BSE. The scrip opened at Rs821 and touched intraday high and low of Rs825.50 and Rs810.20 respectively.