INSUBCONTINENT EXCLUSIVE:
Nomura, India has a neutral call on United Spirits Ltd
with a target price of Rs 629.0
The current market price of United Spirits Ltd
is Rs 666.55 Time period given by analyst is year when United Spirits Ltd
price can reach defined target
United Spirits Ltd., incorporated in the year 1999, is a largeccap company with a market cap of Rs 47809.19 crore.
Investment rationale by
NomuraFollowing UNSP’s 1:5 stock split, we adjust our target price by the same ratio
The split is effective 15 June, 2018
Our valuation methodology remains unchanged and our target price of INR629 is based on DCF with an 11% discount rate and terminal growth of
ITC (ITC IN, Buy) and Dabur (DABUR IN, Buy) remain our key ideas in the consumer space
EPS estimates adjusted by similar proportion for stock split To adjust for the 1:5 split, our per share metrics are one-fifth of their
There is no change to our revenue/margin/net profit estimates.
