Breweries & Distilleries company United Spirits announced Q4FY25 & FY25 results Consolidated Q4FY25 Financial Highlights: Reported net sales value (NSV) was at Rs 3,031 crore, up 8.9% versus same period prior year. Underlying growth was 10.2%. EBITDA was at Rs 460 crore, a growth of 37.7% versus prior year in-line with strong leveraged growth in the standalone business. Profit after tax was at Rs 421 crore. Consolidated FY25 Financial Highlights: Net sales value (NSV) at Rs 12,069 crore, up 6.6% YoY, driven by growth in the standalone business. Underlying net sales value (NSV) at Rs 12,106, up 6.9% YoY. EBITDA was at Rs 2,243 crore, growth of 12.1% YoY. Profit after tax was at Rs 1,582 crore, up 12.4% YoY. Standalone Q4FY25 Financial Highlights: Total reported NSV at Rs 2,946 crore, up 10.5% YoY and underlying NSV at Rs 2,983 crore. registered a growth of 11.9%. NSV for the Popular segment grew 1.1% Gross profit grew 13.4% and reported gross margin was at 44.5%, an expansion of 115 bps YoY. A&P; re-investment rate was 10.8% of net sales, reflecting consistent investment behind the trademarks. EBITDA at Rs 505 crore, an increase of 39.5% YoY on the back of strong gross profit growth and continued discipline and productivity across the value chain. EBITDA margin was 17.1%, an expansion of 358 bps over prior year same quarter. nterest cost at Rs 22 crore, was down 24.1%. The interest cost is on account of the customary nondebt related items. Profit after tax was Rs 451 crore. with a net profit margin of 15.3%. Standalone FY25 Financial Highlights: Total NSV at Rs 11,573 crore. increased 8.2% YoY, driven by re-entry in the market of Andhra Pradesh and resilient performance of our trademarks. Within the above, Prestige & Above segment grew 9.9%. NSV for the Popular segment was almost flat (+0.8% YoY). Gross profit increased by 11.5%, while gross margin at 44.7% was an expansion of 129 bps versus last year. A&P; re-investment rate was 9.7% of sales as we continue to invest behind the brands to build and maintain mental availability for the trademarks. EBITDA at Rs 2,058 crore, an increase of 20.5% YoY. EBITDA margin at 17.8%, an expansion of 181 bps versus prior year. Interest cost at Rs 89 crore, is up 17.1%. Interest cost is on account of customary non-debt related items. Profit after tax was Rs 1,558 crore. with a net profit margin of 13.5%, up 18.8% YoY. Praveen Someshwar, CEO & Managing Director, commenting on the FY25 performance, said: “The challenging demand environment notwithstanding, we have delivered 13.2% NSV growth for P&A; in Q4FY25 and 9.9% P&A; growth for FY25, and a leveraged EBITDA growth that takes us to our medium-term guidance. The Board of Directors have recommended a final dividend of Rs 8.0 per share for the fiscal year 2024-25, subject to Shareholder’s approval. Looking ahead, we remain focused on delivering sustained growth while creating long-term value for all our stakeholders in line with our ambition to be the best performing, most trusted and respected CPG company in India.” Result PDF
Conference Call with United Spirits Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Breweries & Distilleries company United Spirits announced 9MFY25 & Q3FY25 results Q3FY25 Financial Highlights: Net sales at Rs 3,432 crore. increased 14.8% year-on-year with Prestige & Above segment growing 16.1%. Growth was driven by resilient consumer demand in peak festive season and a fast scale-up in Andhra Pradesh. Net sales for the Popular segment grew 9.6%. Value righting done a few quarters ago along with the duty reduction in the most salient state, provided the necessary growth tailwinds. Gross margin was 44.7%, up 131 bps versus last year on the back of sustained revenue growth management interventions and productivity flow-through. A&P; re-investment rate was 11.0% of net sales, reflecting the seasonality of the peak consumption quarter and investment behind the brands and innovations. EBITDA at Rs 588 crore., an increase of 19.8% YoY. EBITDA margin was 17.1%, expansion of 71 bps versus last year. Interest cost was at Rs 20 crore. and is on account of customary non-debt related expenses. Profit after tax was Rs 473 crore. with a net profit margin of 13.8%. 9MFY25 Financial Highlights: Net sales at Rs 8,627 crore. increased 7.5% over prior year. Within this, Prestige & Above segment grew 8.8%. The growth is reflective of the strength of our broad-based portfolio with national reach and our ability to capitalise on opportunities that present themselves in the normal course of business. Net sales for the Popular segment were up 0.6% versus prior year comparator on the back of a strong quarter. Gross margin at 44.8%, up 134 bps versus last year, driven by healthy headline pricing flow-through, revenue growth management and COGS productivity initiatives. A&P; re-investment rate was 9.4% of net sales, reflecting the investment behind the brands and the innovations & renovations. EBITDA at Rs 1,553 crore. is an increase of 15.3% over prior year comparator. EBITDA margin was 18.0%, up 122 bps versus last year. This is driven by gross margin expansion and productivity across the value chain. 9MFY25 Interest cost is at Rs 67 crore. Excluding the one-off reversal benefit of Rs 15 crore. in Q1FY24, interest cost in 9MFY24 was at Rs 62 crore. Interest cost is on account of customary non-debt related expenses and the increase is on account of lease finance cost partly off-set by savings in other line items. Exceptional charge of Rs 65 crore. in Q3FY25 is related to the multi-year supply agility program. Profit after tax stands at Rs 1,107 crore. with a net profit margin of 12.8%. Hina Nagarajan, CEO & Managing Director, said: “Amidst a moderate but sequentially improving demand environment, we have delivered a quarter in line with our aspirations buoyed by the festive season and fast scale-up in the state of Andhra Pradesh. Looking ahead, we remain cautiously optimistic in the short-term while remaining committed to the long-term potential of the India consumer story.” Result PDF