United Spirits Ltd. (Diageo India) reported a resilient performance for Q3FY26 despite regulatory headwinds in key markets, supported by strong momentum in the premium end of its portfolio. Key Q3FY26 highlights (Consolidated): • Net Sales Value (NSV) at ₹3,694 crore, up 7.6% YoY • EBITDA at ₹599 crore, up 5.5% YoY • Profit After Tax (PAT) at ₹418 crore, up a strong 24.7% YoY On a standalone basis, NSV grew 7.3% YoY to ₹3,683 crore, led by 8.2% growth in the Prestige & Above (P&A) segment, which now contributes ~90% of quarterly sales. Premiumisation, pricing flow-through and productivity gains drove a 219 bps expansion in gross margin to 46.9%, although EBITDA margin moderated slightly due to higher brand investments. 9MFY26 performance (Consolidated): • NSV at ₹9,888 crore, up 9.4% YoY • PAT at ₹1,299 crore, up 11.9% YoY • Underlying EBITDA growth of 9.0%, excluding one-offs The Board also approved an interim dividend of ₹6 per share, reflecting confidence in cash flows and balance sheet strength. Bottom line: United Spirits continues to benefit from premiumisation and brand-led growth, helping offset regional policy challenges while sustaining healthy profitability. Disclaimer: This post is for informational and educational purposes only and does not constitute investment advice. 👉 Follow for crisp earnings insights and corporate updates.

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