United Spirits Limited, a leading beverage alcohol company in India, has announced its unaudited standalone financial results for the first half and second quarter ending 30 September 2026. The company demonstrated a resilient performance despite facing significant regulatory challenges and a strong prior-year base.
For the first half of the fiscal year 2027, United Spirits reported a net sales value (NSV) of INR 5,961 crore, marking a 4.2% year-on-year increase. The Prestige & Above (P&A) segment, which accounts for a significant portion of the company’s sales, grew by 7.8%, driven by innovations in local flavours and the luxury portfolio. However, the Popular segment experienced a decline of 20.6% due to adverse policy impacts in Maharashtra and Karnataka. The company’s gross profit increased by 7.5%, with a gross margin of 47.1%.
In the second quarter, the company recorded an NSV of INR 3,258 crore, up 2.8% from the previous year. The P&A segment showed a robust growth of 6.3%, supported by the relaunch of J&B Scotch and the introduction of Smirnoff Ice in the Ready-to-Drink segment. Despite these gains, the Popular segment’s NSV fell by 22.7%, influenced by policy changes in key markets. The company’s EBITDA for the quarter stood at INR 643 crore, a decrease of 4.3% year-on-year, with a margin contraction to 19.7%.
Praveen Someshwar, CEO & Managing Director of United Spirits, expressed confidence in the company’s strategic investments and brand innovations, which are expected to drive long-term growth. The company is optimistic about the upcoming festive quarter, bolstered by recent product launches and strategic market entries.
Analysts note that while United Spirits has managed to navigate regulatory headwinds effectively, the ongoing policy changes in major states pose a challenge to its Popular segment. The company’s focus on premiumisation and innovation in the P&A segment is seen as a positive move to mitigate these risks and sustain growth momentum.
