United Spirits Limited (MCDOWELL-N) — Cash Flow Quality Index
United Spirits Limited (MCDOWELL-N) has a Cash Flow Quality Index of 0.79x as of September 2025. Operating cash flow of Rs9.39 Billion is below net income of Rs11.95 Billion, suggesting accrual-heavy earnings not yet converted to cash. Explore investment intensity of United Spirits Limited to see how much of total assets are deployed in long-term investments.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
United Spirits Limited Cash Flow Quality Index (2004–2025)
Historical Cash Flow Quality Index for United Spirits Limited across 18 annual periods. Values consistently above 1.0x indicate high-quality earnings. Check MCDOWELL-N goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Cash Flow Quality Index for United Spirits Limited (2004–2025)
Year-by-year earnings quality comparison for United Spirits Limited. For live market cap and the full company financial profile, see MCDOWELL-N market cap overview.
| Year | Quality Index | Operating CF (INR) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 1.25x | Rs19.83 Billion | Rs15.82 Billion | ▲ +52.1% |
| 2024 | 0.82x | Rs11.60 Billion | Rs14.08 Billion | ▲ +71.4% |
| 2023 | 0.48x | Rs6.15 Billion | Rs12.79 Billion | ▼ -46.6% |
| 2022 | 0.90x | Rs9.77 Billion | Rs10.87 Billion | ▼ -73.3% |
| 2021 | 3.37x | Rs18.18 Billion | Rs5.40 Billion | ▲ +398.7% |
| 2020 | 0.67x | Rs7.83 Billion | Rs11.60 Billion | ▼ -28.0% |
| 2019 | 0.94x | Rs9.48 Billion | Rs10.12 Billion | ▼ -7.6% |
| 2018 | 1.01x | Rs9.25 Billion | Rs9.12 Billion | ▼ -74.5% |
| 2017 | 3.98x | Rs6.47 Billion | Rs1.63 Billion | ▲ +1864.7% |
| 2016 | 0.20x | Rs2.39 Billion | Rs11.79 Billion | ▼ -98.3% |
| 2013 | 12.04x | Rs10.09 Billion | Rs838.42 Million | ▲ +450.9% |
| 2012 | 2.18x | Rs7.56 Billion | Rs3.46 Billion | ▲ +1603.1% |
| 2011 | -0.15x | Rs-1.16 Billion | Rs7.97 Billion | ▼ -129.9% |
| 2008 | 0.49x | Rs2.67 Billion | Rs5.49 Billion | ▼ -63.1% |
| 2007 | 1.32x | Rs5.30 Billion | Rs4.02 Billion | ▲ +44.0% |
| 2006 | 0.92x | Rs520.26 Million | Rs568.36 Million | ▲ +2.8% |
| 2005 | 0.89x | Rs399.35 Million | Rs448.27 Million | ▼ -0.5% |
| 2004 | 0.90x | Rs310.69 Million | Rs347.09 Million | — |