Q2 results review: Experts turn cautiously positive on USL, Radico Khaitan, United Breweries on margin improvement
Q2 Results Review- The margin recovery trend in the liquor industry picked up pace since Q1FY24. Mix improvement, price hikes and some deflation in RM costs led this. The worst is likely behind, but ENA remains a concern, as per Nuvama Institutional Equities.
Liquor manufacturers like United Spirits share price, Radico Khaitan share price and United Breweries share price have gained 12-28% in the last six months. The tide is turning favorably as analysts now maintain a positive view on margins. The volume growth though has remained a mixed bag in first half, however analysts are positive on demand in the near term to be driven by wedding season, festive season and events during the ongoing quarter.
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