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Mon, 29 Jun 2026
06:47:55 am
Mon, 29 Jun 2026
06:47:55 am
Synopsis
United Spirits reported FY26 standalone net profit of ₹1,830 crore on revenue of ₹27,781 crore and announced a final dividend of ₹11 per share. The company also approved the ₹16,663 crore sale of Royal Challengers Sports Private Limited and completed the acquisition of a 97.07% stake in Nao Spirits & Beverages.
United Spirits Limited reported strong financial performance for the financial year ended March 31, 2026, with growth in revenue, profitability, and operating performance across its beverage alcohol business. The company also announced a major strategic development during the year with the approval of the sale of Royal Challengers Sports Private Limited (RCSPL) for ₹16,663 crore.
The Board of Directors approved the audited standalone and consolidated financial results at its meeting held on May 14, 2026. Alongside the results, the company recommended a final dividend of ₹11 per equity share for FY2025-26, subject to shareholder approval at the upcoming Annual General Meeting scheduled for August 4, 2026.
United Spirits also completed the acquisition of a 97.07% stake in Nao Spirits & Beverages Private Limited during FY26 as part of its premium portfolio expansion strategy. The company continued focusing on profitability, premiumization, portfolio growth, and strategic restructuring initiatives during the year.
United Spirits reported strong growth in standalone and consolidated profitability during FY26, supported by higher revenue, improved operating performance, and continued momentum in its premium spirits business.
Standalone revenue from operations increased to ₹27,781 crore during FY26 compared to ₹26,780 crore in FY25. Net profit for the year rose significantly to ₹1,830 crore from ₹1,558 crore in the previous financial year.
| Metric | FY26 | FY25 |
|---|---|---|
| Revenue from Operations | ₹27,781 crore | ₹26,780 crore |
| Other Income | ₹576 crore | ₹426 crore |
| Total Income | ₹28,357 crore | ₹27,206 crore |
| Total Expenses | ₹25,926 crore | ₹25,085 crore |
| Profit Before Tax | ₹2,340 crore | ₹2,056 crore |
| Net Profit | ₹1,830 crore | ₹1,558 crore |
| Basic & Diluted EPS | ₹25.16 | ₹21.42 |
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The company also reported strong quarterly performance during Q4 FY26.
For the quarter ended March 31, 2026, standalone revenue from operations stood at ₹6,838 crore compared to ₹6,549 crore during the corresponding quarter last year.
Quarterly net profit increased to ₹571 crore from ₹451 crore during Q4 FY25, reflecting continued demand growth and improved profitability across the premium spirits portfolio.
On a consolidated basis, United Spirits reported revenue from operations of ₹27,816 crore during FY26 compared to ₹26,780 crore in FY25.
Net profit for the year rose to ₹1,838 crore from ₹1,582 crore in the previous financial year. Profit from continuing operations stood at ₹1,709 crore during FY26.
| Metric | FY26 | FY25 |
|---|---|---|
| Revenue from Operations | ₹27,816 crore | ₹26,780 crore |
| Total Income | ₹28,294 crore | ₹27,105 crore |
| Profit Before Exceptional Items & Tax | ₹2,310 crore | ₹2,015 crore |
| Profit Before Tax | ₹2,219 crore | ₹1,950 crore |
| Profit After Tax – Continuing Operations | ₹1,709 crore | ₹1,445 crore |
| Profit After Tax – Discontinued Operations | ₹129 crore | ₹137 crore |
| Net Profit | ₹1,838 crore | ₹1,582 crore |
| EPS – Continuing Operations | ₹24.07 | ₹20.35 |
The company stated that the sports business has been classified as discontinued operations under Ind AS 105.
The beverage alcohol business remained the primary growth driver for United Spirits during FY26. Revenue and EBITDA growth improved during the year due to premiumization, operating efficiencies, and continued portfolio expansion.
| Segment | Revenue FY26 | Revenue FY25 | EBITDA FY26 | EBITDA FY25 |
|---|---|---|---|---|
| Beverage Alcohol | ₹12,467 crore | ₹11,573 crore | ₹2,286 crore | ₹2,057 crore |
| Sports | ₹545 crore | ₹504 crore | ₹159 crore | ₹186 crore |
| Total Net Segment Revenue | ₹13,012 crore | ₹12,077 crore | ₹2,445 crore | ₹2,243 crore |
The beverage alcohol segment recorded strong EBITDA growth during FY26, supported by improved product mix and higher contribution from premium brands.
The sports segment, which includes Royal Challengers Sports Private Limited, was reported under discontinued operations during the year.
One of the biggest developments during FY26 was the Board approval for the sale of Royal Challengers Sports Private Limited (RCSPL), the owner of the Royal Challengers Bengaluru franchise.
United Spirits approved the sale of 100% shareholding in RCSPL for an aggregate consideration of ₹16,663 crore, subject to adjustments and regulatory approvals.
| Particulars | Details |
|---|---|
| Subsidiary Being Sold | Royal Challengers Sports Private Limited |
| Stake Sold | 100% |
| Deal Value | ₹16,663 crore |
| Share Purchase Agreement Date | March 24, 2026 |
| Amended Agreement Date | May 11, 2026 |
The transaction involves multiple buyers, including:
The deal remains subject to approvals from:
The proposed sale marks one of the largest transactions involving an IPL franchise-related business structure.
During FY26, United Spirits also completed the acquisition of a controlling stake in Nao Spirits & Beverages Private Limited.
The company purchased 34,291 equity shares from existing shareholders for ₹49 crore and infused an additional ₹56 crore through equity and compulsorily convertible preference shares.
Following the transaction, United Spirits now holds 97.07% stake in Nao Spirits & Beverages.
| Particulars | Details |
|---|---|
| Stake Acquired | 97.07% |
| Initial Share Purchase | ₹49 crore |
| Capital Infusion | ₹56 crore |
| Total Investment | ₹105 crore |
The acquisition resulted in recognition of:
The acquisition supports United Spirits’ premiumization strategy and strengthens its position in the premium craft spirits category.
United Spirits reported exceptional items amounting to a net charge of ₹91 crore during FY26.
| Exceptional Item | FY26 (₹ crore) |
|---|---|
| Gain on Sale of Closed Unit | 28 |
| Supply Restructuring Cost | (36) |
| Impairment Loss on Plant & Machinery | (19) |
| Impact of New Labour Codes | (49) |
| Voluntary Separation Scheme | (15) |
| Total Exceptional Items | (91) |
The company also wrote off an outstanding loan amounting to ₹1,238 crore due from United Breweries Holdings Limited (UBHL).
Despite the write-off, United Spirits stated that it continues pursuing legal remedies for recovery of the amount.
United Spirits maintained strong balance sheet growth during FY26, supported by profitability improvement and asset expansion.
| Metric | FY26 | FY25 |
|---|---|---|
| Standalone Total Assets | ₹13,864 crore | ₹12,718 crore |
| Standalone Equity | ₹8,721 crore | ₹7,879 crore |
| Consolidated Total Assets | ₹14,469 crore | ₹13,248 crore |
| Consolidated Equity | ₹8,957 crore | — |
Standalone net cash generated from operating activities stood at ₹1,483 crore during FY26.
Cash and cash equivalents at year-end stood at ₹855 crore.
The Board recommended a final dividend of ₹11 per equity share for FY2025-26.
| Particulars | Details |
|---|---|
| Final Dividend | ₹11 per share |
| Face Value | ₹2 per share |
| AGM Date | August 4, 2026 |
| Record Date | July 8, 2026 |
| Dividend Payment Date | On or after August 13, 2026 |
The dividend recommendation reflects the company’s strong profitability and cash generation during FY26.
United Spirits delivered strong FY26 financial performance with higher revenue, improved profitability, and continued momentum in its premium beverage alcohol business. The company also announced significant strategic developments during the year, including the proposed ₹16,663 crore sale of Royal Challengers Sports Private Limited and the acquisition of Nao Spirits & Beverages.
The combination of premiumization, operational growth, strategic restructuring, and portfolio expansion helped strengthen the company’s overall financial position during FY26.
With rising profitability, higher dividend payout, expansion in premium spirits, and major corporate transactions, United Spirits continues focusing on long-term value creation and growth across its alcoholic beverages business.
United Spirits reported standalone net profit of ₹1,830 crore for FY26 compared to ₹1,558 crore in FY25. Consolidated net profit for the year stood at ₹1,838 crore.
The Board of Directors recommended a final dividend of ₹11 per equity share for FY2025-26, subject to shareholder approval at the Annual General Meeting.
United Spirits reported standalone revenue from operations of ₹27,781 crore during FY26, while consolidated revenue from operations stood at ₹27,816 crore.
United Spirits approved the sale of 100% stake in Royal Challengers Sports Private Limited (RCSPL) for ₹16,663 crore, subject to regulatory approvals and transaction conditions.
The proposed buyers include:
The transaction requires approvals from:
United Spirits acquired a 97.07% stake in Nao Spirits & Beverages Private Limited through share purchases and capital infusion totaling ₹105 crore.
Exceptional items totaled a net charge of ₹91 crore and included:
United Spirits wrote off an outstanding loan of ₹1,238 crore due from United Breweries Holdings Limited (UBHL), while continuing legal recovery efforts.
The beverage alcohol segment reported revenue of ₹12,467 crore and EBITDA of ₹2,286 crore during FY26, showing strong operational growth.
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