United Spirits Limited Net Assets
United Spirits Limited net assets. Based on the latest financial reports, United Spirits Limited (MCDOWELL-N) has net assets worth Rs89.57 Billion INR (≈ $968.67 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs144.69 Billion ≈ $1.56 Billion USD) and total liabilities (Rs55.12 Billion ≈ $596.10 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore net asset momentum of United Spirits Limited to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs89.57 Billion |
| % of Total Assets | 61.9% |
| Annual Growth Rate | 17.14% |
| 5-Year Change | 83.74% |
| 10-Year Change | 402.33% |
| Growth Volatility | 63.8 |
Net Assets of United Spirits Limited (2004–2026)
Net assets of United Spirits Limited from 2004 to 2026. This chart illustrates how United Spirits Limited's net assets have evolved over time, based on quarterly financial data. See United Spirits Limited net asset quality index to measure how much of total assets are equity-financed.
Annual Net Assets for United Spirits Limited (2004–2026)
The table below shows the annual net assets of United Spirits Limited from 2004 to 2026. For live market cap and overall valuation, see MCDOWELL-N stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2026-03-31 | Rs89.57 Billion ≈ $968.67 Million |
+10.53% |
| 2025-03-31 | Rs81.04 Billion ≈ $876.42 Million |
+13.80% |
| 2024-03-31 | Rs71.21 Billion ≈ $770.11 Million |
+18.69% |
| 2023-03-31 | Rs59.99 Billion ≈ $648.82 Million |
+23.07% |
| 2022-03-31 | Rs48.75 Billion ≈ $527.19 Million |
+20.10% |
| 2021-03-31 | Rs40.59 Billion ≈ $438.95 Million |
+10.10% |
| 2020-03-31 | Rs36.87 Billion ≈ $398.70 Million |
+19.42% |
| 2019-03-31 | Rs30.87 Billion ≈ $333.87 Million |
+26.90% |
| 2018-03-31 | Rs24.33 Billion ≈ $263.09 Million |
+36.43% |
| 2017-03-31 | Rs17.83 Billion ≈ $192.84 Million |
-0.37% |
| 2016-03-31 | Rs17.90 Billion ≈ $193.54 Million |
+171.02% |
| 2015-03-31 | Rs6.60 Billion ≈ $71.41 Million |
-78.23% |
| 2014-03-31 | Rs30.33 Billion ≈ $328.01 Million |
-36.79% |
| 2013-03-31 | Rs47.98 Billion ≈ $518.92 Million |
+2.61% |
| 2012-03-31 | Rs46.76 Billion ≈ $505.73 Million |
+11.45% |
| 2011-03-31 | Rs41.96 Billion ≈ $453.80 Million |
+10.95% |
| 2010-03-31 | Rs37.82 Billion ≈ $409.01 Million |
+58.12% |
| 2009-03-31 | Rs23.92 Billion ≈ $258.67 Million |
+5.07% |
| 2008-03-31 | Rs22.76 Billion ≈ $246.19 Million |
+47.78% |
| 2007-03-31 | Rs15.40 Billion ≈ $166.59 Million |
+58.76% |
| 2006-03-31 | Rs9.70 Billion ≈ $104.93 Million |
+245.16% |
| 2005-03-31 | Rs2.81 Billion ≈ $30.40 Million |
+1.93% |
| 2004-03-31 | Rs2.76 Billion ≈ $29.83 Million |
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Equity Component Analysis
This analysis shows how different components contribute to United Spirits Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
United Spirits Limited Net Assets Breakdown (March 2026)
United Spirits Limited net assets breakdown by equity component as of March 2026.
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Rs1.45 Billion | 1.62% |
| Other Components | Rs88.08 Billion | 98.38% |
| Total Equity | Rs89.53 Billion | 100.00% |
United Spirits Limited Competitors by Market Cap
The table below lists competitors of United Spirits Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ipsen SA
PA:IPN
|
$10.50 Billion |
|
Hua Hong Semiconductor Limited
F:1HH
|
$10.50 Billion |
|
Guangdong Hec Technology Holding Co Ltd Class A
SHG:600673
|
$10.50 Billion |
|
Klepierre SA
PA:LI
|
$10.51 Billion |
|
Insurance Australia Group Limited
F:NRM
|
$10.48 Billion |
|
Industrial Bank Of Korea
KO:024110
|
$10.47 Billion |
|
Crane Company
NYSE:CR
|
$10.47 Billion |
|
Regal Beloit Corporation
NYSE:RRX
|
$10.47 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in United Spirits Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 81,040,000,000 to 89,530,000,000, a change of 8,490,000,000 (10.5%).
- Net income of 18,380,000,000 contributed positively to equity growth.
- Dividend payments of 12,630,000,000 reduced retained earnings.
- Other factors increased equity by 2,740,000,000.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs18.38 Billion | +20.53% |
| Dividends Paid | Rs12.63 Billion | -14.11% |
| Other Changes | Rs2.74 Billion | +3.06% |
| Total Change | Rs- | 10.48% |
Book Value vs Market Value Analysis
This analysis compares United Spirits Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 10.58x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 125.97x to 10.58x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-03-31 | Rs10.59 | Rs1333.70 | x |
| 2005-03-31 | Rs10.55 | Rs1333.70 | x |
| 2006-03-31 | Rs21.99 | Rs1333.70 | x |
| 2007-03-31 | Rs33.04 | Rs1333.70 | x |
| 2008-03-31 | Rs47.11 | Rs1333.70 | x |
| 2009-03-31 | Rs46.33 | Rs1333.70 | x |
| 2010-03-31 | Rs68.15 | Rs1333.70 | x |
| 2011-03-31 | Rs66.40 | Rs1333.70 | x |
| 2012-03-31 | Rs74.07 | Rs1333.70 | x |
| 2013-03-31 | Rs76.07 | Rs1333.70 | x |
| 2014-03-31 | Rs42.81 | Rs1333.70 | x |
| 2015-03-31 | Rs9.08 | Rs1333.70 | x |
| 2016-03-31 | Rs23.05 | Rs1333.70 | x |
| 2017-03-31 | Rs25.17 | Rs1333.70 | x |
| 2018-03-31 | Rs34.10 | Rs1333.70 | x |
| 2019-03-31 | Rs43.57 | Rs1333.70 | x |
| 2020-03-31 | Rs52.56 | Rs1333.70 | x |
| 2021-03-31 | Rs58.08 | Rs1333.70 | x |
| 2022-03-31 | Rs69.84 | Rs1333.70 | x |
| 2023-03-31 | Rs84.54 | Rs1333.70 | x |
| 2024-03-31 | Rs100.29 | Rs1333.70 | x |
| 2025-03-31 | Rs114.13 | Rs1333.70 | x |
| 2026-03-31 | Rs126.11 | Rs1333.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently United Spirits Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 20.53%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.74%
- • Asset Turnover: 0.86x
- • Equity Multiplier: 1.62x
- Recent ROE (20.53%) is above the historical average (-5.98%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 9.04% | 2.11% | 1.30x | 3.28x | Rs-26.31 Million |
| 2005 | 4.55% | 1.00% | 0.76x | 6.03x | Rs-148.59 Million |
| 2006 | 15.08% | 5.91% | 0.66x | 3.87x | Rs427.62 Million |
| 2007 | 41.41% | 19.38% | 0.78x | 2.74x | Rs4.30 Billion |
| 2008 | 13.10% | 5.88% | 0.46x | 4.87x | Rs643.32 Million |
| 2009 | -17.12% | -7.47% | 0.46x | 4.96x | Rs-6.47 Billion |
| 2010 | -0.60% | -0.36% | 0.56x | 3.02x | Rs-4.00 Billion |
| 2011 | 13.63% | 7.72% | 0.57x | 3.09x | Rs1.52 Billion |
| 2012 | 4.03% | 2.05% | 0.58x | 3.40x | Rs-2.78 Billion |
| 2013 | -2.11% | -0.96% | 0.65x | 3.42x | Rs-5.80 Billion |
| 2014 | -148.04% | -42.75% | 0.71x | 4.90x | Rs-47.92 Billion |
| 2015 | -255.90% | -18.43% | 1.16x | 11.96x | Rs-17.54 Billion |
| 2016 | 8.46% | 1.50% | 1.08x | 5.24x | Rs-251.70 Million |
| 2017 | 5.61% | 1.14% | 0.99x | 4.98x | Rs-784.60 Million |
| 2018 | 26.20% | 7.57% | 0.93x | 3.70x | Rs3.92 Billion |
| 2019 | 22.66% | 7.54% | 1.02x | 2.95x | Rs3.91 Billion |
| 2020 | 17.67% | 7.10% | 1.05x | 2.37x | Rs2.86 Billion |
| 2021 | 9.31% | 4.74% | 0.95x | 2.07x | Rs-283.80 Million |
| 2022 | 16.73% | 8.58% | 1.08x | 1.80x | Rs3.33 Billion |
| 2023 | 18.95% | 10.71% | 1.09x | 1.63x | Rs5.37 Billion |
| 2024 | 19.77% | 12.44% | 1.01x | 1.58x | Rs6.96 Billion |
| 2025 | 19.52% | 13.11% | 0.91x | 1.63x | Rs7.72 Billion |
| 2026 | 20.53% | 14.74% | 0.86x | 1.62x | Rs9.43 Billion |
Industry Comparison
This section compares United Spirits Limited's net assets metrics with peer companies in the Beverages - Wineries & Distilleries industry.
Industry Context
- Industry: Beverages - Wineries & Distilleries
- Average net assets among peers: $3,065,201,217
- Average return on equity (ROE) among peers: 12.28%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| United Spirits Limited (MCDOWELL-N) | Rs89.57 Billion | 9.04% | 0.62x | $10.49 Billion |
| Allied Blenders & Distillers Ltd (ABDL) | $4.04 Billion | 0.37% | 4.56x | $2.11 Billion |
| Associated Alcohols & Breweries Ltd. (ASALCBR) | $5.20 Billion | 15.65% | 0.38x | $116.73 Million |
| Bcl Industries Limited (BCLIND) | $1.83 Billion | 22.61% | 2.06x | $96.27 Million |
| Globus Spirits Limited (GLOBUSSPR) | $5.91 Billion | 24.38% | 0.68x | $213.42 Million |
| IFB Agro Industries Limited (IFBAGRO) | $2.83 Billion | 11.33% | 0.39x | $82.90 Million |
| Ravi Kumar Distilleries Limited (RKDL) | $150.33 Million | 11.95% | 2.57x | $4.62 Million |
| Sula Vineyards Limited (SULA) | $5.86 Billion | 11.97% | 0.84x | $114.78 Million |
| Tilaknagar Industries Limited (TI) | $-1.30 Billion | 0.00% | 0.00x | $1.29 Billion |
About United Spirits Limited
United Spirits Limited manufactures, purchases, and sells alcoholic beverages and other allied spirits in India and internationally. Its alcoholic beverages include Scotch whisky, Indian made foreign liquor whisky, brandy, rum, vodka, and gin. The company primarily owns McDowell's No.1, Royal Challenge, Signature, Antiquity, Black Dog, Director's Special Black, McDowell's Rum, and McDowell's Bran… Read more