Buy United Spirits; target of Rs 770: ICICI Direct
#ICICIBANK Direct's research report on United Spirits
#MCDOWELLN (USL) is India’s leading alcoholic beverage company and subsidiary of global leader Diageo plc. It manufactures, sells premium liquor brands such as Johnnie Walker, Black Dog, Black & White, Vat 69, Antiquity, Signature, Royal Challenge, McDowell’s No 1, Smirnoff and Captain Morgan.
Outlook
Prestige and above segment forms 67% of its revenues It aims to grow its revenues in double digits and expects its operating margin to remain in mid to high-teen levels in the medium term.