India's United Spirits falls on margin miss

United Spirits

21/01/2026 04:07

** Shares of India's United Spirits UNSP.NS drop 2.4% to 1285 rupees, set for third straight session of losses

** Co's Q3 profit rises 12% yoy; rev up 3% yoy

** Brokerage CLSA ("hold", PT at 1300 rupees) says co missed expectation on EBITDA, margins driven by higher marketing spend

** Brokerage Investec says co's margin contracted 35 bps yoy to 16.8%, missing estimates

** Solid net sales value (NSV) growth, but volumes below expectations- Investec ("buy", PT at 1673 rupees)

** UNSP rated "buy" on avg by 23 analysts covering it; median PT at 1640 rupees- data compiled by LSEG

** In 2025, UNSP lost 11%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))