Conference Call with United Spirits Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Breweries & Distilleries company United Spirits announced Q3FY24 results: Financial Performance - Consolidated Net Sales Value (NSV): Rs 3,002 Crore, an increase of 8.0% YoY. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): Rs 487 Crore, a 30.8% growth YoY. Financial Performance - Standalone Net Sales Value (NSV): Rs 2,989 Crore, Prestige & Above segment sales constituting 88% of NSV. Total NSV Growth: 7.5% YoY. Prestige & Above Segment NSV Growth: 10.0% YoY. EBITDA: Rs 491 Crore, a 33.6% increase from the previous year, with an EBITDA margin of 16.4%. Profitability Consolidated Profit After Tax (PAT): Rs 350 Crore. Standalone Profit After Tax (PAT): Rs 348 Crore, net profit margin standing at 11.6%. Segment Performance Prestige & Above: Strong growth, with segment net sales up 13.8% during 9MFY24. Popular Segment: Net sales declined by 4.6% during 9MFY24. Hina Nagarajan, CEO & Managing Director, commented on the quarter's performance: "We have delivered a resilient quarter in a challenging macro environment. While the sequential demand momentum was relatively muted, reassuringly, the premiumisation trend continues. Our consumer engagement remained high with a slew of festivals, the cricket World Cup, and peak wedding season. The focus on continuous improvement and value chain productivity is reflected in the performance. Looking ahead, we remain cautiously optimistic on growth on the back of sustained investments in our brands, belief in our innovation and renovation pipeline, and the long-term India consumer potential." Result PDF