United Spirits Ltd. benchmarking: Perfomance to industry peers

Financial

	United Spirits	United Breweries	Radico Khaitan
Operational Metrics
Alcoholic Beverages
Quarterly Sales Volume - Alcoholic Beverages	16.61 Million Cases	n/a	n/a
Realization/Case - Alcoholic Beverages	1909.06 Rs/Case	n/a	n/a
Unclassified
Advertisement Spend as a % of Total Sales	3.38 %	1.98 %	1.12 %
FMCG
Volume Growth	7.7 %	-3.0 %	37.8 %
Financials
5 yr Average ROE	16.86 %	8.01 %	12.35 %
5yr average Equity Multiplier	1.8	1.68	1.62
5yr Average Asset Turnover Ratio	0.99	1.02	0.94
5yr Avg Net Profit Margin	9.9 %	4.6 %	8.25 %
Price to Book	11.91	9.69	14.11
P/E	61.17	114.86	91.79
5yr Avg Cash Conversion Cycle	-106.76 Days	-135.28 Days	-19.43 Days
Inventory Days	27.87 Days	30.11 Days	17.08 Days
Days Receivable	43.26 Days	48.66 Days	23.06 Days
Days Payable	162.83 Days	208.0 Days	99.09 Days
5yr Average Interest Coverage Ratio	16.19	52.58	14.08
5yr Avg ROCE	23.7 %	11.21 %	15.68 %
5yr Avg Operating Profit Margin	15.78 %	9.43 %	13.62 %
5 yr average Debt to Equity	0.06	0.04	0.26
5yr CAGR Net Profit	32.76 %	31.29 %	4.51 %
5yr Average Return on Assets	9.8 %	4.76 %	7.69 %
Shareholdings
Promoter Holding	56.67 %	70.83 %	40.21 %
Share Pledged by Promoters	1.18 %	12.4 %	0.0
Change in Promoter Holding (3 Yrs)	-0.06 %	-1.88 %	-0.06 %
Change in Mutual Fund Holding (3 Yrs)	3.48 %	3.27 %	1.34 %

	United Spirits	United Breweries	Radico Khaitan
Product Wise Break-Up	Product Wise Break-Up Alcohol 100.0 Beer 0 Animal feed supplement 0 Jaivik Khad 0 Pet Bottles & Caps 0 Alcohol And Other Alcoholic Products 0	Product Wise Break-Up Alcohol 0 Pet Bottles & Caps 0 Animal feed supplement 0 Alcohol And Other Alcoholic Products 0 Jaivik Khad 0 Beer 99.94 Others 0.06	Product Wise Break-Up Alcohol 0 Pet Bottles & Caps 0.21 Animal feed supplement 0.68 Alcohol 98.95 Jaivik Khad 0.03 Beer 0 Others 0.13
Segment Break-Up	Segment Break-Up Beverage Alcohol 100.0 Sports 0	-	-
Location Wise Break-Up	Location Wise Break-Up India 99.34 Rest of the World 0 Others 0.66	Location Wise Break-Up India 98.57 Rest of the World 1.43	Location Wise Break-Up India 93.97 Rest of the World 0 Others 6.03
Operating Profit Break-Up	Operating Profit Break-Up Beverage Alcohol 100.0 Sports 0	Operating Profit Break-Up Beverage Alcohol 0 Sports 0 Others 100	-
Customer Segment	Customer Segment Prestige & Above 86.65 Popular 11.59 Non Imfl 0 Prestige And Above 0 Regular An Others 0 Others 1.76	-	Customer Segment Non Imfl 30.01 Prestige & Above 48.29 Popular 0 Prestige & Above 0 Regular An Others 21.7
Asset Break-Up	Asset Break-Up India 100.0	-	Asset Break-Up India 100.0