NSE ScannerComparison · NSE · data 2026-11-01
United Spirits Limited vs Varun Beverages Ltd.
In plain words
Size: Varun Beverages Ltd. is about 1.4 times the market value of United Spirits Limited.
Valuation (P/E): United Spirits Limited 56.3 vs Varun Beverages Ltd. 38.2.
Return on equity: United Spirits Limited 20.1% vs Varun Beverages Ltd. 16.8%.
Profit growth over 3 years: Varun Beverages Ltd. 26.6% a year vs United Spirits Limited 14.6% a year.
Debt to equity: Varun Beverages Ltd. 0.13 vs United Spirits Limited 0.05.
Differences in the numbers, not a recommendation of either stock.
Side by side
| UNITDSPR | VBL | |
|---|---|---|
| Price | ₹1,333.7 | ₹392 |
| Market cap | ₹96,956 cr | ₹1,33,642 cr |
| P/E | 56.3 | 38.2 |
| P/B | 10.5 | — |
| ROE | 20.1% | 16.8% |
| ROCE | 22.7% | 15.6% |
| Debt / equity | 0.05 | 0.13 |
| Operating margin | 15.4% | 17.1% |
| Dividend yield | 1.28% | 0.38% |
| Sales growth, 3 years (yearly) | 5.5% | 17.2% |
| Profit growth, 3 years (yearly) | 14.6% | 26.6% |
| 1-year return | -3.9% | -20.8% |
| Revenue, last 12 months | ₹12,720 cr | ₹25,837 cr |
| Net profit, last 12 months | ₹1,683 cr | ₹3,473 cr |
| Latest quarter | Sept 2026 | Sept 2026 |
| Quarter net profit | ₹428 cr | ₹828 cr |
| Quarter profit vs a year earlier | -7.8% | +11.7% |
| Promoter holding | 56.67% | 59.43% |
| Health check | Average (6.1/10) | Strong (6.6/10) |
Common questions
Which has a higher P/E, United Spirits Limited or Varun Beverages Ltd.?
United Spirits Limited trades at the higher P/E (56.3 against 38.2). A higher P/E means the market pays more for each rupee of past earnings; on its own it does not say which is better.
Which earns a higher return on equity?
United Spirits Limited (20.1% against 16.8%).
Which carries more debt?
Varun Beverages Ltd. has the higher debt-to-equity ratio (0.13 against 0.05).