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In this blog we are going to get info on 5 leading UK – origin companies which are listed in Indian stock exchanges.
In this blog you are going to get good amount of info on stocks analysis of 5 UK based companies so give it a full read.
India and the United Kingdom share a deep-rooted history of trade, commerce, and cultural exchange that dates back centuries. Many UK-based companies were among the first to establish a business footprint in India, long before globalization became a buzzword. From FMCG giants to pharmaceutical leaders, these companies didn’t just enter the Indian market — they integrated into its economic fabric. This historical connection inspired me to explore how these British-origin firms have evolved in India and how they perform today on Indian stock exchanges.
Stocks Analysis of 5 UK Based Companies :
Profitability & Stability of UK Origin companies
| Company Name | Parent Company (UK) | Sector | Profitability | Stability | Remarks |
|---|---|---|---|---|---|
| Hindustan Unilever (HUL) | Unilever plc | FMCG | ✅ Very High | ✅ Very Stable | Market leader, strong brand portfolio, consistent dividends |
| GlaxoSmithKline Pharma | GSK plc | Pharma | ✅ Moderate | ✅ Stable | Focused on essential drugs, solid parent support |
| Vodafone Idea | Vodafone Group plc (JV) | Telecom | ❌ Negative | ❌ Unstable | High debt, losses, uncertain future; risky turnaround play |
| AstraZeneca Pharma India | AstraZeneca plc | Pharma | ✅ Moderate | ✅ Stable | Lean operations, steady profitability, niche pharma play |
| United Spirits | Diageo plc | Alcohol/Spirits | ✅ High | ✅ Improving | Post-acquisition turnaround, dominant player in Indian alcohol market |
All in all :
- ✅ Stable & Profitable Picks: HUL, GSK Pharma, AstraZeneca, United Spirits
- ⚠️ High-Risk: Vodafone Idea (speculative only)
Cross-Border Listings: Why More Indian Firms List in the US vs. Fewer Foreign Firms in India
| Aspect | Indian Companies Listed in US | Foreign (UK-Based) Companies Listed in India |
|---|---|---|
| Count | 10+ major firms (e.g., Infosys, Wipro, HDFC Bank via ADRs) | Fewer than 10 (e.g., HUL, GSK Pharma, AstraZeneca, Vodafone Idea, United Spirits) |
| Key Reason for Listing | Access to large capital pools, global visibility | Historical business presence and local operations |
| Investor Base | Institutional investors, hedge funds, tech-focused investors | Indian retail & domestic institutions |
| Ease of Regulation | Streamlined via ADR/GDR routes | Complex local compliance for foreign firms |
| Familiarity with Brand | High global recognition (IT, pharma) | Often limited Indian awareness of foreign parent company |
| Historical Ties | Mostly post-liberalization era (1990s onwards) | Many since pre-independence or early post-colonial era |
| Market Conditions | High liquidity, analyst coverage, tech-savvy markets | Developing capital markets, still growing retail participation |
| Currency Advantage | USD-denominated returns attractive to Indian firms | INR-denominated returns less appealing to foreign firms |
| Profit Repatriation | More favorable globally | Challenging for foreign firms under Indian FDI/FEMA rules |
| Examples | Infosys, Wipro, ICICI Bank, HDFC Bank, MakeMyTrip | Hindustan Unilever, GSK Pharma, AstraZeneca India, United Spirits, Vodafone Idea |
Key Insight:
The listing imbalance isn’t about potential — it’s about regulatory ease, capital access, and historical familiarity. Yet, the few UK-based companies listed in India offer long-term stability, trusted operations, and deep-rooted market presence.
Stock Data of UK-Origin Companies Listed on Indian Stock Exchanges
| Company Name | Index Name | Profit (Latest FY) | Market Cap | Stock Price (Approx) |
|---|---|---|---|---|
| Hindustan Unilever (HUL) | Nifty 50, BSE SENSEX | ₹8,000 crore (FY23) | ₹6,50,000 crore (₹6.5 Trillion) | ₹2,700 – ₹2,800 |
| GlaxoSmithKline Pharma | Nifty 50, BSE SENSEX | ₹800 crore (FY23) | ₹31,000 crore | ₹1,450 – ₹1,500 |
| Vodafone Idea | Nifty 50, BSE SENSEX | ₹-20,000 crore (FY23, Loss) | ₹14,000 crore | ₹10 – ₹12 |
| AstraZeneca Pharma India | Nifty 500, BSE SENSEX 500 | ₹300 crore (FY23) | ₹10,000 crore | ₹3,000 – ₹3,200 |
| United Spirits (Diageo) | Nifty 50, BSE SENSEX | ₹1,800 crore (FY23) | ₹55,000 crore | ₹700 – ₹750 |
Quick Notes:
- HUL remains the top performer in terms of both market cap and profits in the FMCG space.
- Vodafone Idea has been struggling with losses and debt, reflecting in its low stock price.
- AstraZeneca Pharma India and United Spirits show steady profits and moderate market caps, with AstraZeneca being relatively niche in the pharma sector.
- GlaxoSmithKline Pharma remains a solid player in the pharma market, showing healthy profits and moderate market cap.
Fundamental & Financial Analysis of 5 UK Origin Companies listed in India :
Financial Metrics of UK-Origin Companies Listed on Indian Stock Exchanges
| Company Name | Debt/Equity Ratio | P/E Ratio | P/B Ratio | ROE (%) | ROA (%) | Dividend Yield (%) | Piotroski Score |
|---|---|---|---|---|---|---|---|
| Hindustan Unilever (HUL) | 0.4 | 60-65 | 11-12 | 100+ | 23-25 | 1.2-1.5 | 8-9 |
| GlaxoSmithKline Pharma | 0.1 | 30-35 | 4-5 | 14-16 | 6-8 | 2.5-3.0 | 6-7 |
| Vodafone Idea | 5.0 | N/A (Negative) | 1.0 | – | – | 0% | 1-2 |
| AstraZeneca Pharma India | 0.05 | 25-30 | 4-5 | 18-20 | 12-14 | 1.0-1.2 | 8-9 |
| United Spirits (Diageo) | 0.3 | 45-50 | 6-7 | 18-20 | 7-9 | 1.5-2.0 | 8-9 |
Key Insights from Financial Metrics :
- HUL: Extremely strong ROE, low debt, and a relatively high P/E ratio, making it a premium stock. Piotroski score is solid, indicating good financial health.
- GSK Pharma: Low debt, moderate P/E and P/B ratios, with a decent ROE and a moderate Piotroski score, reflecting a stable but not extraordinary performance.
- Vodafone Idea: High debt, negative profitability, and low Piotroski score, which makes it a high-risk stock.
- AstraZeneca Pharma: Low debt, decent P/E and P/B ratios, with solid profitability metrics and a strong Piotroski score, showing it’s financially stable.
- United Spirits: Moderate debt, healthy ROE and ROA, with good dividend yield and a strong Piotroski score, indicating strong financials.
Piotroski Score Analysis for UK-Origin Companies Listed on Indian Stock Exchanges
Piotroski Score ranges from 0 to 9, where a score of 8-9 indicates strong financial health, 5-6 indicates neutral performance, and below 5 signals weak financial performance. Here’s a breakdown of what the scores indicate for each company:
| Company Name | Piotroski Score | Interpretation |
|---|---|---|
| Hindustan Unilever (HUL) | 8-9 | Strong Financial Health: HUL has excellent profitability, efficiency, and liquidity ratios. The high Piotroski score indicates good cash flow, effective management of liabilities, and consistent profitability. This makes it a solid investment in the long-term. |
| GlaxoSmithKline Pharma | 6-7 | Neutral Financial Performance: A moderate Piotroski score indicates stable but not extraordinary performance. While the company has decent profitability, it could improve in areas such as asset utilization or debt management. It’s generally a safe choice, but not a standout. |
| Vodafone Idea | 1-2 | Weak Financial Health: A low Piotroski score for Vodafone Idea reflects poor profitability, high debt, and negative operational efficiency. This indicates significant financial struggles, making it a high-risk investment. |
| AstraZeneca Pharma India | 8-9 | Strong Financial Health: AstraZeneca’s high Piotroski score shows it has excellent liquidity, profitability, and return on equity. It indicates strong management of resources, profitability, and consistent performance, making it an attractive long-term investment. |
| United Spirits (Diageo) | 8-9 | Strong Financial Health: With a strong Piotroski score, United Spirits shows robust profitability, efficient asset utilization, and good debt management. This indicates a healthy financial position, with consistent cash flow and a sustainable business model. |
Piotroski Score Interpretation:
- 8-9 (Strong Health): Companies like HUL, AstraZeneca, and United Spirits show excellent management of financial health with strong profitability, low debt, and good liquidity.
- 6-7 (Neutral): GSK Pharma shows stable but unexceptional performance with room for improvement in operational efficiency or leverage management.
- 1-2 (Weak): Vodafone Idea‘s low Piotroski score indicates financial distress, with poor profit margins, negative cash flow, and unsustainable debt levels.
Conclusion :
Credit Ratings of UK-Origin Companies Listed on Indian Stock Exchanges
| Company Name | CRISIL Rating | ICRA Rating | Analysis |
|---|---|---|---|
| Hindustan Unilever (HUL) | AAA | AA+ | Stable to Strong Financial Standing: HUL’s AAA rating from CRISIL indicates top-tier credit quality with minimal risk. ICRA’s AA+ is also highly rated, reflecting HUL’s strong operational track record, consistent profitability, and financial stability. Investors are assured of minimal default risk. |
| GlaxoSmithKline Pharma | AA | AA+ | Strong Credit Quality: Both CRISIL and ICRA have assigned AA to AA+ratings to GSK Pharma, reflecting high credit quality. The company has strong financials and robust market presence, but its relatively smaller scale in comparison to larger pharma players limits its credit rating. The credit risk is considered low, but not as strong as HUL. |
| Vodafone Idea | BB- | BB+ | Credit Struggles: Vodafone Idea has lower credit ratings due to high debt and weak profitability. CRISIL’s BB- rating and ICRA’s BB+ indicate speculative risk and increased credit risk. The company is facing significant financial distress with its high leverage and declining market position. Investors should be cautious of default risks. |
| AstraZeneca Pharma India | AA | AA | Strong Credit Quality: AstraZeneca’s AA rating from both CRISIL and ICRA signifies strong financial stability and minimal credit risk. With a high level of profitability and a low debt-to-equity ratio, the company is seen as creditworthy with a reliable ability to meet its debt obligations. |
| United Spirits (Diageo) | AA+ | AA+ | Very Strong Financial Health: With AA+ ratings from both CRISIL and ICRA, United Spirits is considered highly creditworthy. The company enjoys strong financial health, solid revenue streams, and consistent profitability. These ratings indicate a low risk of default and strong investor confidence. |
Credit Rating Analysis :
- Hindustan Unilever (HUL): With a AAA rating from CRISIL and AA+ from ICRA, HUL stands at the top of the credit rating scale, signaling outstanding financial strength and low risk of default. This suggests that HUL is a very safe investment with a strong market position and steady cash flow.
- GlaxoSmithKline Pharma: Rated AA by CRISIL and AA+ by ICRA, GSK Pharma maintains a strong credit profile. These ratings suggest strong financials and low credit risk, but they also indicate that GSK is slightly less insulated from financial turbulence than HUL. Still, it remains a safe investment in the pharma sector.
- Vodafone Idea: With BB- from CRISIL and BB+ from ICRA, Vodafone Idea’s ratings indicate that the company is facing financial difficulties due to high debt and negative profitability. The high credit risk suggests that the company is in a speculative state and could face default risks if it doesn’t improve its financial situation. Investors should be cautious when considering Vodafone Idea due to its volatility.
- AstraZeneca Pharma India: AA ratings from both CRISIL and ICRA reflect financial strength, stable profitability, and a minimal risk of default. AstraZeneca is in a relatively safe financial position, and these ratings suggest confidence in its ability to repay debt and continue growing.
- United Spirits (Diageo): With AA+ ratings from both CRISIL and ICRA, United Spirits has one of the highest credit ratings among its peers. These ratings signify that the company is financially strong, with stable revenue generation and low default risk. It is seen as a reliable investment with strong fundamentals.
Conclusion on Credit Ratings:
- HUL, AstraZeneca, and United Spirits are rated in the AA to AAA range, indicating they are financially robust, low-risk investments, and highly creditworthy.
- GSK Pharma also enjoys a strong rating but is slightly lower than these companies due to its more moderate market scale.
- Vodafone Idea, with its BB- rating, is considered a high-risk investment with substantial credit risk due to debt issues and operational struggles.
Final Words :
Investment Outlook and Future Prospects of UK-Origin Companies Listed in India
| Company Name | Investment Outlook | Future Prospects | Bullish/Bearish Sentiment |
|---|---|---|---|
| Hindustan Unilever (HUL) | Strong Investment | Positive Growth: Continues to benefit from strong brand equity, diversified products, and market leadership in FMCG. The company has a robust business model and low-risk investment with steady long-term growth. | Bullish: Consistently growing with minimal risks, backed by strong fundamentals and AAA credit rating. |
| GlaxoSmithKline Pharma | Moderate Investment | Stable Growth: GSK Pharma has a solid market presence, but growth is moderate compared to more dynamic pharma players. The company has a good portfolio, but its market share is not growing rapidly. | Neutral to Bullish: A safe investment with moderate growth, but unlikely to deliver high returns in the near term. |
| Vodafone Idea | High-Risk Investment | Uncertain Future: The company faces huge debt burdens, declining profitability, and increased competition. Unless there’s a major turnaround in management and business strategy, growth looks challenging. | Bearish: Struggling with financial stability and high debt; future growth is uncertain without significant restructuring. |
| AstraZeneca Pharma India | Strong Investment | Positive Outlook: The company is poised for growth in the pharma sector with high demand for healthcare products and strong fundamentals. Low debt and stable market share indicate good prospects. | Bullish: With strong profitability, efficient management, and growth potential in the pharma market, AstraZeneca is a safe long-term investment. |
| United Spirits (Diageo) | Strong Investment | Positive Growth: As a leader in the alcoholic beverage sector, the company benefits from strong demand, especially in India. Diageo’s management and financials are robust, offering steady returns. | Bullish: High profitability, strong brand equity, and a solid dividend yield make it a highly favorableinvestment for the long term. |
Final Thoughts:
- If you’re looking for low-risk, long-term growth, Hindustan Unilever, AstraZeneca, and United Spirits are solid choices with bullish sentiments.
- GlaxoSmithKline Pharma is a good pick for moderate growth with steady returns but lacks the excitement of high-growth stocks.
- Vodafone Idea is high-risk with bearish prospects, making it a speculative investment at best.