As of 2025-07-11, the Relative Valuation of United Spirits Ltd (MCDOWELL-N.NS) is 435.76 INR. This relative valuation is based on P/E multiples. With the latest stock price at 1,500.15 INR, the upside of United Spirits Ltd based on Relative Valuation is -71%.

The range of the Relative Valuation is 264.55 - 639.97 INR.

	Range	Selected
Trailing P/E multiples	27.7x - 33.1x	29.7x
Forward P/E multiples	18.2x - 27.1x	20.5x
Fair Price	264.55 - 639.97	435.76
Upside	-82.4% - -57.3%	-71.0%

1,500.15 INR

Stock Price

435.76 INR

Fair Price

Relative Valuation

MCDOWELL-N.NS Relative Valuation - Benchmarking P/E against peers

(INR in millions except Fair Price)
	Market Cap (INR mil)	Trailing P/E	Forward P/E
United Spirits Ltd	1,091,134	77.5x	103.4x
HiteJinro Co Ltd	96,139	14.2x	16.8x
Yantai Changyu Pioneer Wine Co Ltd	134,495	36.9x	19.2x
Takara Holdings Inc	138,474	14.5x	12.5x
Anhui Kouzi Distillery Co Ltd	240,550	12x	11.7x
Associated Alcohols & Breweries Ltd	21,154	26x	21.7x
IFB Agro Industries Ltd	6,817	30.5x	14.4x
Tilaknagar Industries Ltd	66,289	28.9x	35.2x
Treasury Wine Estates Ltd	364,602	42.5x	35.7x
Varun Beverages Ltd	1,554,815	55.9x	42.8x

Industry median		29.7x	20.5x
(*) Profit after tax		14,080	10,549
Equity value		418,176	215,731

(/) Outstanding shares		727	727
Fair price		575	297

MCDOWELL-N.NS Relative Valuation

MCDOWELL-N.NS Relative Valuation - Benchmarking P/E against peers

MCDOWELL-N.NS Relative Valuation - Historical P/E Data