United Spirits Ltd.

Financial

	United Spirits	United Breweries	Radico Khaitan
Operational Metrics
Alcoholic Beverages
Quarterly Sales Volume - Alcoholic Beverages	16.48 Million Cases	n/a	n/a
Realization/Case - Alcoholic Beverages	1814.15 Rs/Case	n/a	n/a
Unclassified
Advertisement Spend as a % of Total Sales	4.73 %	1.86 %	0.97 %
FMCG Sector
Volume Growth	-1.8 %	10.9 %	3.7 %
Financials
5 yr Average ROE	17.06 %	9.99 %	13.56 %
5yr average Equity Multiplier	2.23	1.62	1.63
5yr Average Asset Turnover Ratio	1.02	1.04	0.9
5yr Avg Net Profit Margin	7.71 %	5.65 %	9.29 %
Price to Book	12.56	12.12	8.83
P/E	67.41	123.53	85.89
5yr Avg Cash Conversion Cycle	-85.05 Days	-97.0 Days	-62.96 Days
Inventory Days	25.76 Days	28.99 Days	15.47 Days
Days Receivable	31.54 Days	29.18 Days	22.62 Days
Days Payable	154.68 Days	196.83 Days	135.31 Days
5yr Average Interest Coverage Ratio	8.46	36.46	14.82
5yr Avg ROCE	27.37 %	14.58 %	17.78 %
5yr Avg Operating Profit Margin	15.43 %	12.63 %	15.34 %
5 yr average Debt to Equity	0.37	0.04	0.21
5yr CAGR Net Profit	10.17 %	-11.6 %	2.57 %
5yr Average Return on Assets	8.02 %	6.14 %	8.4 %
Shareholdings
Promoter Holding	56.67 %	70.83 %	40.26 %
Share Pledged by Promoters	1.18 %	12.4 %	0.0
Change in Promoter Holding (3 Yrs)	-0.09 %	13.11 %	-0.04 %
Change in Mutual Fund Holding (3 Yrs)	4.44 %	6.59 %	3.28 %

Business

	United Spirits	United Breweries	Radico Khaitan
Product Wise Break-Up	Product Wise Break-Up Alcohol 100.0 Beer 0 Jaivik Khad 0 Pet Bottles & Caps 0 Alcohol And Other Alcoholic Products 0	Product Wise Break-Up Pet Bottles & Caps 0 Alcohol And Other Alcoholic Products 0 Alcohol 0 Jaivik Khad 0 Beer 99.91 Others 0.09	Product Wise Break-Up Pet Bottles & Caps 0.3 Alcohol 99.59 Alcohol 0 Jaivik Khad 0.04 Beer 0 Others 0.07
Location Wise Break-Up	Location Wise Break-Up India 99.52 Rest of the World 0 Others 0.48	Location Wise Break-Up Rest of the World 1.03 India 98.97	Location Wise Break-Up Rest of the World 0 India 94.37 Others 5.63
Customer Segment	Customer Segment Prestige & Above 88.29 Popular 10.2 Non Imfl 0 Prestige And Above 0 Regular An Others 0 Others 1.51	-	Customer Segment Popular 0 Regular An Others 17.2 Prestige & Above 0 Prestige & Above 44.77 Non Imfl 37.17 Others 0.86
Asset Break-Up	Asset Break-Up India 100.0	-	Asset Break-Up India 100.0