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Margin contraction and competitive pressure may keep spirits low at USL

Investors should await signs of margin improvement and volume uptick, especially in the Prestige-and-above segment before considering investment in USL

Ram Prasad Sahu  |  Mumbai 

Investors in United Spirits (USL) did not make any money in 2019. The stock, which has underperformed the broader indices, ended marginally lower than the year-ago levels. From its September levels when it had peaked, the stock has shed about 11 per cent.

Pegged back by a consumption slowdown and high base, the company recorded muted volume in the September quarter. What hampered sales further were the liquidity challenges for trade in certain states and a temporary supply-chain disruption. The company faces some headwinds on account of margin contraction and competitive ...

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First Published: Thu, January 09 2020. 20:13 IST
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