United Spirits Limited (UNITDSPR), one of India’s leading beverage alcohol companies, reported its unaudited standalone financial results for the first half and second quarter ended 30th September 2026. Despite regulatory headwinds and a strong prior-year base, the company delivered resilient performance, as highlighted by Mr. Praveen Someshwar, CEO & Managing Director. The relaunch of J&B Scotch, enabled by the India-UK FTA, and the entry into the Ready-to-Drink (RTD) segment with Smirnoff Ice, are key growth drivers for the company.

Key Highlights for H1FY27

For the first half of FY27, United Spirits Limited reported:

• Net Sales Value (NSV) at INR 5,961 Cr. (+ 4.2%)
• P&A NSV at INR 5,576 Cr. (+ 7.8%)
• EBITDA at INR 1,075 Cr. (-1.1%)
• PAT at INR 853 Cr. (16.8%)

Key Highlights for Q2FY27

For the second quarter of FY27, the company reported:

• NSV at INR 3,258 Cr. (+ 2.8%), with P&A saliency of 94.1%
• P&A NSV at INR 3,065 Cr. (+ 6.3%)
• EBITDA at INR 643 Cr. (-4.3%)
• PAT at INR 462 Cr. (-2.1%)

The company continues to invest behind its brands for long-term growth, with an A&P re-investment rate of 11.6% of net sales value. The strategic initiatives and new product launches are expected to drive growth in the festive quarter ahead.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of United Spirits Limited

United Spirits Limited belongs to the Consumer Defensive › Beverages – Wineries & Distilleries sector. Here’s a quick read on where the business and the stock stand today.

United posts a 0.3% three-month gain, but softens in the last few weeks. The PEG reaches 3.34. The stock trades on brand and index weight, not on growth. Not a single revenue dip or loss quarter in five years — this is a business built to last through cycles. Sellers drive 1.5x the volume of buyers. Furthermore, they controlled 18 of recent sessions versus 11 for buyers — a clear distribution signal. Revenue grows at 5.6% and profits at 17.4%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of United Spirits Limited.

VST Industries Limited (VSTIND) has reported that its year-to-date performance remains under pressure due to an extraordinary tax increase. The company’s net revenue went down by 21% to Rs. 498 crores compared to Rs. 634 crores, while the profit after tax (PAT) dropped by 28% to Rs. 84 crores against Rs. 115 crores in the same period last year.

Impact of Tax Increase

The significant hike in cigarette taxation, which increased by about 50% on average, has created a challenging operating environment. This has impacted consumer affordability and legal industry volumes. The company’s focus remains on strengthening brands, adopting a measured pricing approach, improving distribution effectiveness, and driving cost efficiencies.

Financial Performance

In the first half of FY27, cigarette volume averaged 586 million pieces per month, down by 16.8% compared to 704 million pieces in the same period last year. The revenue from operations, net of excise duty, stood at Rs. 187 crores, down 19.1% from Rs. 216 crores. EBITDA dropped by 40.4% to Rs. 43 crores against Rs. 79 crores, and EBITDA margin decreased by 590 basis points to 17.9% from 23.4%.

Commenting on the performance, Piyush Srivastava, Managing Director, said, “The significant increase in cigarette taxation has created a challenging operating environment, impacting consumer affordability and legal industry volumes. Our focus remains on strengthening our brands, adopting a measured pricing approach, improving distribution effectiveness and driving cost efficiencies. In our unmanufactured tobacco business, ongoing geopolitical situation continues to weigh on growth. We remain committed to navigating these challenges with discipline and building a resilient business for sustainable long-term growth.”

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of VST Industries Limited

VST Industries Limited belongs to the Consumer Defensive › Tobacco sector. Here’s a quick read on where the business and the stock stand today.

VST falls 13.4% over three months and has not found a floor yet. A 5.94% dividend yield is exceptional — this stock acts like a high-yield bond with equity upside. D/E of 0.37 and a 5.94% dividend yield give the balance sheet a decent cushion. The stock sits at 2% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 4.2% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of VST Industries Limited.

Allied Blenders and Distillers Limited (ABDL) has announced its unaudited financial results for the quarter and half year ended September 30, 2026, showcasing robust topline growth. The company reported an Income from Operations of ₹ 1,152 crore, marking a 15.8% year-on-year (y-o-y) increase and a 17.1% quarter-on-quarter (q-o-q) rise. This impressive performance is driven by the highest-ever quarterly sales volumes of 10.0 million cases in Q2FY27.

EBITDA and PAT Growth

EBITDA stood at ₹ 143 crore, up 10.0% y-o-y and 19.2% q-o-q. The Profit After Tax (PAT) reached ₹ 69 crore, reflecting a 9.7% y-o-y and 52.0% q-o-q growth. Excluding the ₹29 crore impact of global supply chain disruptions, like-to-like (LTL) EBITDA would have been ₹ 172 crore, higher by 32.3% y-o-y, with an LTL EBITDA margin of 14.9% (up 186 bps y-o-y) and an LTL PAT of ₹ 91 crore (higher by 44.3% y-o-y).

Strategic Investments and Expansions

ABDL continued to invest in expanding its super-premium and luxury portfolio, including brand-building and distribution initiatives. The recent commissioning of capacity-expansion projects has strengthened the company’s manufacturing capabilities and is expected to improve supply-chain efficiency and margin accretion. With the festive season ahead, ABDL expects the topline growth momentum to continue.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Allied Blenders and Distillers Limited

Allied Blenders and Distillers Limited belongs to the Consumer Defensive › Beverages – Wineries & Distilleries sector. Here’s a quick read on where the business and the stock stand today.

Allied gains 21.4% over three months and trades near its 52-week highs. The PEG of 0.23 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Thin margins at 5.6% leave limited room for error — any demand softness or cost spike hits the bottom line hard. Buyers show up with 2.0x the volume of sellers. Moreover, they dominated on 19 of recent sessions versus 11 for sellers — a healthy accumulation pattern. Both the business and the stock move in the right direction. Revenue grows at 7.4%, profits at 422.6%, and the PEG sits at 0.23 — below its growth rate. That combination is rare. Check Fundamentals of Allied Blenders and Distillers Limited.