United Spirits Q2 FY25 Results Preview: Revenue likely to grow 2.4% to Rs 2,935 crore, margin may expand by 50 bps

United Spirits is set to announce its quarterly numbers on October 23. Analysts expect the beverage alcohol manufacturer to stage a steady financial performance for the July-September period driven by mild growth in volumes and realisations. 

According to Zee Business research, USL is estimated to register a consolidated net profit of Rs 335 crore for the September quarter, marking a decline of 1.2 per cent compared with the corresponding period a year ago which included an exceptional gain of Rs 31 crore. Its revenue is anticipated to increase 2.4 per cent to Rs 2,935 crore on a year-on-year basis, according to the research. 

USL Q2 FY25 Results | EBITDA and margin estimates

The expected EBITDA stands at Rs 492 crore, up 5.4 per cent from the Rs 467 crore reported last year, according to Zee Business analysts.  The EBITDA margin is expected to improve from 16.3 per cent to 16.8 per cent on the back of better cost management. 

The reduction in the cost of glass and extra neutral alcohol (ENA) is expected to support the margins, offsetting some of the pressures, according to Zee Business research. 

Volume and segment results
Analysts expect USL's overall volumes to increase by 1 per cent, with the Premium and Above (P&A) segment leading the growth with a 2 per cent rise in volumes. 

In terms of realisation, an overall increase of 3.3% is anticipated, according ot the analysts. 

USL shares 

As of October 22, USL shares have grown almost 13 per cent in the past year, underperforming a gain of almost 27 per cent in the headline Nifty50 index.