DSP Merrill Lynch United Spirits Ltd
June 18, 2008
United Spirits is Indias largest spirits player. In FY08 it sold 74mn cases which gives it a volume share of 52%. Key strengths are market leading brands across all spirit categories and price segments. It recently acquired Whyte & Mackay - the fourth largest Scotch whisky player in the world. W&M is predominently a bulk spirits manufacturer. Its branded Scotch portfolio is small with 3% market share in UK.