United Spirits Limited (MCDOWELL-N) — Tangible Net Worth Ratio
United Spirits Limited (MCDOWELL-N) has a Tangible Net Worth Ratio of 95.5% as of September 2025. This metric is calculated by deducting intangible assets (Rs3.82 Billion) from net assets (Rs84.08 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See United Spirits Limited (MCDOWELL-N) working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
United Spirits Limited Tangible Net Worth Ratio (2004–2025)
This chart shows how United Spirits Limited's Tangible Net Worth Ratio has changed across 22 annual periods from 2004 to 2025. As of September 2025, the ratio stands at 95.5%, reflecting net assets of Rs84.08 Billion with intangible assets of Rs3.82 Billion INR. See United Spirits Limited (MCDOWELL-N) liquidity interval to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for United Spirits Limited (2004–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for United Spirits Limited from 2004 to 2025, covering 22 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see United Spirits Limited market cap and net worth.
| Year | Tangible NW Ratio | Net Assets (INR) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 95.9% | Rs81.04 Billion | Rs3.29 Billion | Rs132.48 Billion | ▲ +0.8 pp |
| 2024 | 95.1% | Rs71.21 Billion | Rs3.49 Billion | Rs112.49 Billion | ▲ +1.3 pp |
| 2023 | 93.8% | Rs59.99 Billion | Rs3.73 Billion | Rs97.61 Billion | ▲ +1.3 pp |
| 2022 | 92.5% | Rs48.75 Billion | Rs3.66 Billion | Rs89.11 Billion | ▲ +2.0 pp |
| 2021 | 90.5% | Rs40.59 Billion | Rs3.84 Billion | Rs85.37 Billion | ▲ +1.4 pp |
| 2020 | 89.1% | Rs36.87 Billion | Rs4.01 Billion | Rs88.51 Billion | ▲ +1.8 pp |
| 2019 | 87.4% | Rs30.87 Billion | Rs3.90 Billion | Rs91.09 Billion | ▲ +3.1 pp |
| 2018 | 84.2% | Rs24.33 Billion | Rs3.84 Billion | Rs89.56 Billion | ▲ +6.3 pp |
| 2017 | 77.9% | Rs17.83 Billion | Rs3.93 Billion | Rs88.96 Billion | ▲ +0.1 pp |
| 2016 | 77.8% | Rs17.90 Billion | Rs3.97 Billion | Rs85.60 Billion | ▲ +40.5 pp |
| 2015 | 37.3% | Rs6.60 Billion | Rs4.14 Billion | Rs78.89 Billion | ▼ -42.6 pp |
| 2014 | 80.0% | Rs30.33 Billion | Rs6.08 Billion | Rs148.58 Billion | ▼ -6.8 pp |
| 2013 | 86.8% | Rs47.98 Billion | Rs6.34 Billion | Rs163.85 Billion | ▲ +1.6 pp |
| 2012 | 85.2% | Rs46.76 Billion | Rs6.94 Billion | Rs158.57 Billion | ▼ -14.8 pp |
| 2011 | 100.0% | Rs41.96 Billion | Rs0.00 | Rs129.17 Billion | ▲ +125.4 pp |
| 2010 | -25.4% | Rs37.82 Billion | Rs47.44 Billion | Rs114.06 Billion | ▲ +61.6 pp |
| 2009 | -87.0% | Rs23.92 Billion | Rs44.74 Billion | Rs118.42 Billion | ▲ +46.9 pp |
| 2008 | -134.0% | Rs22.76 Billion | Rs53.26 Billion | Rs101.25 Billion | ▼ -160.4 pp |
| 2007 | 26.5% | Rs15.40 Billion | Rs11.32 Billion | Rs37.49 Billion | ▲ +38.2 pp |
| 2006 | -11.7% | Rs9.70 Billion | Rs10.84 Billion | Rs32.60 Billion | ▼ -59.6 pp |
| 2005 | 47.9% | Rs2.81 Billion | Rs1.46 Billion | Rs16.44 Billion | ▼ -49.6 pp |
| 2004 | 97.5% | Rs2.76 Billion | Rs67.86 Million | Rs8.99 Billion | — |