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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
United Spirits Ltd

United Spirits Q2 FY27 Standalone PAT at INR462 Cr; H1 FY27 PAT up 16.8%

RESULTS ▼ Concern Flagged MEDIUM RISK
📅 Filed on BSE: 28 Oct 2026, 05:56 PM IST  ·  BSE ID: b74122a8-7850-4bb0-9775-6d543abc03f0
View Original BSE Filing (PDF)
💡
In Simple Terms
United Spirits reported its standalone financial results for Q2 and H1 FY27, showing growth in overall sales but a dip in Q2 profit.
🤖 AI Summary
  • United Spirits Q2 FY27 standalone Net Sales Value was INR3,258 Cr, a 2.8% YoY increase.
  • H1 FY27 standalone Net Sales Value reached INR5,961 Cr, marking a 4.2% YoY growth.
  • Profit After Tax for Q2 FY27 stood at INR462 Cr, a 2.1% YoY decrease.
  • H1 FY27 Profit After Tax increased 16.8% YoY to INR853 Cr.
  • Prestige & Above segment NSV grew 6.3% in Q2 FY27 and 7.8% in H1 FY27.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q2 FY27 Net Sales Value
INR3,258 Cr.
2.8%
H1 FY27 Net Sales Value
INR5,961 Cr.
4.2%
Q2 FY27 Profit After Tax
INR462 Cr.
-2.1%
H1 FY27 Profit After Tax
INR853 Cr.
16.8%
Q2 FY27 EBITDA
INR643 Cr.
-4.3%
H1 FY27 EBITDA
INR1,075 Cr.
-1.1%
🏢 How This Affects the Company
📈
Business Impact
The Prestige & Above segment continues to be the primary growth driver, contributing 94.1% of Q2 FY27 NSV, partially offsetting a 22.7% decline in the Popular segment's NSV due to adverse policy changes in Maharashtra and Karnataka.
💰
Financial Impact
Q2 FY27 EBITDA decreased 4.3% YoY to INR643 Cr due to higher A&P reinvestment rate at 11.6% (vs. 7.6% LY), impacting EBITDA margin which contracted by 146bps to 19.7%.
⚙️
Operational Impact
The reclassification of McDowells No.1 brandy to the Prestige & Above segment from Q2 FY27 repositions a key product within the company's premium portfolio, influencing segment-wise reporting and focus.
⚠️
Risk Impact
Regulatory headwinds in Maharashtra (MML impact) and Karnataka (excise slab changes) adversely affected the Popular segment's realizations and growth, posing ongoing policy-related risks.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this financial results filing.
👤
Who Is Affected
Shareholders are affected by the reported financial performance, including a 2.1% decrease in Q2 FY27 standalone PAT to INR462 Cr and an increase in H1 FY27 standalone PAT of 16.8% to INR853 Cr.
🔍
Management Signal
Management is prioritizing investments in brands and new product launches, such as J&B Scotch relaunch and Smirnoff Ice RTD, ahead of the festive season to support long-term growth, accepting a short-term impact on EBITDA and PAT.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Q3 FY27 financial results — assess impact of festive season investments on profitability.
Updates on regulatory policy changes in Maharashtra and Karnataka for Popular segment.
Details on the performance of new launches like J&B Scotch and Smirnoff Ice RTD.
MEDIUM RISK Regulatory headwinds in key states impact Popular segment performance and overall revenue/profitability.
💡 Investor Takeaway
United Spirits reported Q2 FY27 standalone Net Sales Value at INR3,258 Cr, up 2.8% YoY, with Profit After Tax declining 2.1% to INR462 Cr. H1 FY27 PAT, however, grew 16.8% to INR853 Cr. The Prestige & Above segment continues to be the primary growth driver, while the Popular segment faces regulatory headwinds.
⚖️ Strengths & Concerns

✅ Positives

  • H1 FY27 Profit After Tax grew 16.8% YoY to INR853 Cr, demonstrating stronger half-year profitability despite Q2 decline.
  • Prestige & Above NSV increased 6.3% in Q2 FY27 and 7.8% in H1 FY27, maintaining strong growth momentum in the premium portfolio.

⚠️ Concerns

  • Q2 FY27 Profit After Tax decreased 2.1% YoY to INR462 Cr, primarily due to higher marketing spends and associated EBITDA decline.
  • Popular segment NSV declined 22.7% in Q2 FY27 and 20.6% in H1 FY27, impacted by regulatory challenges and excise slab changes.
📅 Company Track Record
In Q1 FY27, United Spirits reported consolidated profit up 10.95% to INR463 million. Q4 FY26 consolidated NSV grew 3.7% to INR3,054 Cr. The company declared a dividend of INR11.0 in May 2026 for FY26.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was United Spirits' standalone Net Sales Value for Q2 FY27?
United Spirits reported standalone Net Sales Value of INR3,258 Cr for Q2 FY27, representing a 2.8% increase year-on-year.
How did United Spirits' Profit After Tax perform in Q2 FY27 and H1 FY27?
Profit After Tax for Q2 FY27 was INR462 Cr, a 2.1% decrease year-on-year. For H1 FY27, Profit After Tax increased 16.8% year-on-year to INR853 Cr.
What was the growth in the Prestige & Above segment for United Spirits in H1 FY27?
The Prestige & Above segment's Net Sales Value for H1 FY27 grew 7.8% to INR5,576 Cr.
What was the impact on the Popular segment's Net Sales Value for United Spirits in Q2 FY27?
The Popular segment's Net Sales Value declined 22.7% year-on-year to INR181 Cr in Q2 FY27 due to policy changes in Maharashtra and Karnataka.
What was United Spirits' EBITDA for Q2 FY27 and H1 FY27?
United Spirits' EBITDA for Q2 FY27 was INR643 Cr, a decrease of 4.3% year-on-year. For H1 FY27, EBITDA was INR1,075 Cr, a decrease of 1.1% year-on-year.

Questions based on this BSE filing only. For information purposes.

⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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