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Bear of the Day: Stock that fell despite strong Q3 results

United Spirits slipped 7.60% or Rs 80.55 to end at Rs 979.30 on the BSE. It touched a 52-week low of Rs 951.80. It touched an intraday high of Rs 1,050 and an intraday low of Rs 951.80. There were pending sell orders of 101 shares, with no buyers available.

February 10, 2011 / 06:20 PM IST
 
 
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United Spirits slipped 7.60% or Rs 80.55 to end at Rs 979.30 on the BSE. It touched a 52-week low of Rs 951.80. It touched an intraday high of Rs 1,050 and an intraday low of Rs 951.80. There were pending sell orders of 101 shares, with no buyers available. The total traded volumes were of 88,301 shares. Its market capitalisation stands at Rs 12,808.75 crore.

The company's trailing 12-month (TTM) EPS was at Rs 26.71 per share. The stock's price-to-earnings (P/E) ratio was 36.66. The latest book value of the company is Rs 366.30 per share. At current value, the price-to-book value of the company was 2.67. The dividend yield of the company was 0.26%

Q3 Results:

The company has come out with its third quarter results. Its Q3 net profit was up 34.1% at Rs 130 crore versus Rs 96.9 crore, YoY. Its net sales were up 45.2% at Rs 1,960 crore versus Rs 1,350 crore, YoY. The company's OPM was at 14.5% versus 17.1%, YoY.
 
The total expenditure was up 50% at Rs 1695 crore versus Rs 1134 crore. The consolidated of raw materials was up 45% at Rs 504.8 crore versus Rs 346 crore.

However, leading brokerage group CLSA has upgraded United Spirits to outperform from underperform citing that higher extra neutral alcohol prices have been factored-in going forward.

Peer Comparison:

Company

Last Price (Rs)

Market Cap (Rs in Cr)

Sales Turnover  (Rs in Cr)

PAT  (Rs in Cr)

United Spirits

980.05

12818.56

4959.89

400.89

United Brewerie

378.85

9094.23

1997.45

96.97

Radico Khaitan

136.8

1813.4

835.55

41.54

Tilaknagar Ind

50.15

557.37

356.08

33.12

Empee Distiller

101.2

192.37

851.48

17.09

Pioneer Distill

70

93.72

46.59

3.19

GM Breweries

90.4

84.6

219.69

6.65

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