)

United Spirits (MCDOWELL-N) investor relations material
United Spirits Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales value grew 8.4% year-over-year, with the prestige and above segment up 9% despite muted demand and policy headwinds in Maharashtra.
The Board approved unaudited standalone and consolidated financial results for the quarter, with no material misstatements identified.
The company remains cautiously optimistic, leveraging premiumization, innovation, and format-led recruitment as growth drivers.
Policy changes in Maharashtra present headwinds, while progressive reforms in UP, MP, and Jharkhand offer tailwinds.
Recent acquisition of craft gin brands Greater Than, Hapusa, and a majority stake in Nao Spirits expands the white spirits portfolio.
Financial highlights
Consolidated revenue from operations for Q1 FY26 was ₹6,295 crore, with net profit at ₹417 crore.
Standalone net profit for Q1 FY26 was ₹258 crore, with a PAT margin of 10.1%.
Gross profit for the quarter was ₹1,121 crore, with a gross margin of 44%; underlying gross margin was 45.5%, up 107 bps year-over-year.
Reported EBITDA stood at ₹415 crore; underlying EBITDA was ₹455 crore, flat year-over-year.
Basic and diluted EPS for Q1 FY26 stood at ₹5.87 (consolidated) and ₹3.55 (standalone).
Outlook and guidance
Double-digit growth in the P&A segment remains the medium-term aspiration, with no dilution of this target.
Management focuses on growth initiatives, including Nao Spirits integration and rationalization of non-core assets.
EBIT growth is expected to remain slightly ahead of sales growth, though at a moderated pace.
Full-year A&P investment guidance remains at 9.5–10% of net sales.
Import duty reduction benefits are expected to flow through in Q1 of the next fiscal year.
Next United Spirits earnings date

Next United Spirits earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage