Buy United Spirits Ltd For Target Rs. 770 By Angel Broking Ltd
United Spirits (USL) is engaged in the business of manufacture, purchase and sale of beverage alcohol and other allied spirits, including through tie-up manufacturing units and through strategic franchising of some of its brands. In 1QFY22, USL has shown strong revenue recovery of ~67% yoy and Profit growth of ~120% yoy. Going forward, with the drop in COVID positivity rates and steady increase in the vaccination coverage, we expect the recovery momentum to accelerate. Further, we expect healthy revenue growth & profitability on the back of wide distribution network & strong brand, product innovation and other category growth initiatives. Hence, we are positive on stock.
United Spirits : CMP-Rs669 Target Price:-Rs770
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