United Spirits Ltd. benchmarking: Performance to industry peers

Financial

	United Spirits	Radico Khaitan	United Breweries
Operational Metrics
Alcoholic Beverages
Quarterly Sales Volume - Alcoholic Beverages	15.74 Million Cases	n/a	n/a
Realization/Case - Alcoholic Beverages	1934.95 Rs/Case	n/a	n/a
Unclassified
Advertisement Spend as a % of Total Sales	4.38 %	1.12 %	1.98 %
FMCG
Volume Growth	-5.6 %	4.0 %	4.1 %
Financials
5 yr Average ROE	19.1 %	12.9 %	9.21 %
5yr average Equity Multiplier	1.67	1.61	1.78
5yr Average Asset Turnover Ratio	0.97	1.02	1.06
5yr Avg Net Profit Margin	12.02 %	7.93 %	4.96 %
Price to Book	11.93	16.53	8.18
P/E	56.68	90.67	89.49
5yr Avg Cash Conversion Cycle	-108.02 Days	-20.07 Days	-227.73 Days
Inventory Days	29.2 Days	17.66 Days	29.99 Days
Days Receivable	46.05 Days	20.23 Days	60.66 Days
Days Payable	167.75 Days	80.62 Days	221.88 Days
5yr Average Interest Coverage Ratio	18.01	13.47	52.65
5yr Avg ROCE	24.63 %	16.65 %	12.59 %
5yr Avg Operating Profit Margin	16.7 %	13.54 %	9.37 %
5 yr average Debt to Equity	0.01	0.27	0.08
5yr CAGR Net Profit	17.27 %	18.09 %	2.48 %
5yr Average Return on Assets	11.47 %	8.13 %	5.22 %
Shareholdings
Promoter Holding	56.67 %	40.19 %	70.83 %
Share Pledged by Promoters	1.18 %	0.0	12.4 %
Change in Promoter Holding (3 Yrs)	-0.01 %	-0.08 %	-1.88 %
Change in Mutual Fund Holding (3 Yrs)	4.96 %	3.95 %	3.63 %

	United Spirits	Radico Khaitan	United Breweries
Product Wise Break-Up	Product Wise Break-Up Alcohol 100.0 Animal feed supplement 0 Jaivik Khad 0 Pet Bottles & Caps 0 Alcohol And Other Alcoholic Products 0 Beer 0	Product Wise Break-Up Beer 0 Jaivik Khad 0.72 Alcohol 99.02 Animal feed supplement 0.03 Alcohol 0 Pet Bottles & Caps 0.09 Others 0.14	Product Wise Break-Up Beer 99.94 Jaivik Khad 0 Alcohol And Other Alcoholic Products 0 Animal feed supplement 0 Alcohol 0 Pet Bottles & Caps 0 Others 0.06
Segment Break-Up	Segment Break-Up Beverage Alcohol 83.07 Sports 16.93	-	-
Location Wise Break-Up	Location Wise Break-Up India 99.33 Rest of the World 0 Others 0.67	Location Wise Break-Up India 94.61 Rest of the World 0 Others 5.39	Location Wise Break-Up India 98.57 Rest of the World 1.43
Operating Profit Break-Up	Operating Profit Break-Up Beverage Alcohol 61.9 Sports 38.1	-	Operating Profit Break-Up Sports 0 Beverage Alcohol 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 Popular 0 Non Imfl 27.12 Prestige & Above 0 Regular An Others 19.72 Prestige & Above 53.15 Others 0.01	-
Asset Break-Up	Asset Break-Up India 100.0	Asset Break-Up India 100.0	-