BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
United Spirits Ltd.’s Q4 FY21 was ahead of our expectation.
Revenue/Ebitda/adjusted profit after tax were up 16/63/172% YoY.
This was led by healthy 19/26% volume/revenue growth in prestige and above and modest employee and advertising and promotion spends.
The company’s net debt reduction by Rs 15.3 billion (led by working capital efficiencies) was noteworthy.
The company’s story is attractive as a long-term consumption play in industry with high barriers to entry.
Management work on costs is appreciable.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.