United Spirits received an upgrade due to increased earnings confidence, boosted by margin improvements, favorable regulations, and strong performance in its Prestige & Above segment. Q4 FY25 saw a 17.44% profit jump and 10.50% revenue increase.

• Earnings outlook improved with higher FY26/FY27 EBITDA estimates.
• Key states like Andhra Pradesh & UP show positive regulatory shifts.
• Prestige & Above segment dominates sales reaching 87.7% in Q4.