Buy United Spirits, target price Rs 830: ICICI Securities

ICICI Securities has buy call on United Spirits with a target price of Rs 830. The current market price of United Spirits is Rs 796.2. ICICI Securities recommended to keep stop loss at Rs 764.

United Spirits, incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 58046.23 Crore) operating in Beverages - Alcoholic sector.

United Spirits key Products/Revenue Segments include Beverages (Alcohol), Income From Franchise, Scrap and Other Operating Revenue for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2800.00 Crore, down -4.06 % from last quarter Total Income of Rs 2918.60 Crore and down -5.00 % from last year same quarter Total Income of Rs 2947.50 Crore. Company has reported net profit after tax of Rs 214.40 Crore in latest quarter.

The company’s top management includes Mr.Mahendra Kumar Sharma, Ms.Hina Nagarajan, Dr.(Mrs.)Indu Shahani, Mr.D Sivanandhan, Mr.Rajeev Gupta, Mr.V K Viswanathan, Mr.John Thomas Kennedy, Mr.Mark Dominic Sandys, Mr.Randall David Ingber. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditors. As on 31-03-2023, the company has a total of 73 Crore shares outstanding.

Investment Rationale
Buying demand emerging after last three months base formation, providing favourable risk-reward.

Promoter/FII Holdings
Promoters held 56.68 per cent stake in the company as of 31-Mar-2023, while FIIs owned 15.38 per cent, DIIs 12.54 per cent.