1. India Stocks

  2. •

    Consumer Defensive

  3. •

    Beverages - Wineries & Distilleries
Associated Alcohols & Breweries Limited

Associated Alcohols & Breweries Limited

ASALCBR.NS
Associated Alcohols & Breweries LimitedIN flagNational Stock Exchange of India
821.10
INR
-10.45
- -
16.49BMarket Cap
Associated Alcohols & Breweries Limited
ASALCBR.NS
(National Stock Exchange of India)

Recent

price

821.10

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
50.19
76.45
86.92
117.9
165.1
158.97
160.93
179.21
220.38
288.99
241.11
283.76
386.1
417.6
595.06
546.49
548.52
Revenue per Share
1.36
1.43
1.83
3.23
6.82
7.9
9.35
13.93
16.74
27.29
32.06
33.63
22.99
28
45.03
47.42
47.6
Basic EPS, GAAP
-7.36
-4.01
-10.45
-12.28
21.04
0.16
7.62
12.64
-5.09
22.61
30.01
21.85
-47.63
-41.86
-6.71
-2.93
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
0.3
0.5
1
0.95
1
1
1
1
1
2
1.94
- -
Dividend per Share
16.1
17.25
18.8
21.76
27.73
39.51
47.62
60.05
74.98
100.42
130.95
163.06
184.47
210.8
253.82
10.76
10.8
Book Value per Share
24.7
26.13
28.03
31.26
37.05
44.09
53.13
66.63
82.44
107.94
139.23
172.96
201
233.79
287.66
372.29
373.68
Tangible Book Value per Share
18
18
18
18
18
18
18
18
18
18
18
18
18
18
18
19
19
Basic Weighted Avg Shares
907
1,382
1,571
2,132
2,985
2,874
2,910
3,240
3,984
5,225
4,359
5,130
6,980
7,550
10,759
10,194
10,194
Sales/Revenue/Turnover
3.12
3.92
4.33
5.46
6.99
9.65
10.17
12.59
11.36
12.39
17.25
13.55
7.01
8.32
10.28
11.62
11.62
Operating Margin (%)
32
39
49
66
101
103
109
113
123
141
141
143
144
144
174
245
245
Depreciation Expense
25
26
33
58
123
143
169
252
303
493
580
608
416
506
814
885
885
Net Income, GAAP
22.45
24.6
39.88
40.31
33.06
38.19
37.82
36.11
36.04
22.57
26.15
25.08
25.1
25.87
25.72
25.21
25.21
Effective Tax Rate (%)
2.71
1.87
2.11
2.74
4.13
4.97
5.81
7.77
7.6
9.44
13.3
11.85
5.95
6.71
7.57
8.68
8.68
Profit Margin (%)
210
39
-11
262
35
54
122
184
369
794
1,327
1,142
1,451
998
1,021
1,987
1,987
Working Capital
148
218
394
629
251
180
82
33
75
63
29
21
713
533
320
111
111
LT Debt
454
480
520
578
677
810
970
1,208
1,492
1,953
2,518
3,128
3,634
4,229
5,202
6,946
6,946
Total Equity
2.94
4.79
3.98
5.24
10.66
14.36
14.04
17.89
17.29
26.03
23.51
17.9
9.45
9.43
14.35
12.82
12.82
Return on Invested Capital (%)
7.3
7.65
6.55
8.63
14.63
16.87
16.95
21.77
21.32
28.28
26.57
22.31
11.52
11.34
16.32
28.67
28.67
Return on Capital (%)
8.74
8.58
10.15
15.94
27.58
23.51
21.47
25.88
24.79
31.12
27.71
22.88
13.23
14.17
19.38
36.93
36.93
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
535
- -
578
LT Borrowings
196
- -
96
LT Finance Leases
17
- -
15
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
19
- -
20
Market Capitalization
16,812
17,558
12,377

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
2,645
- -
3,249
Cash, Cash Equivalents & STI
542
- -
682
Accounts Receivable, Net
544
- -
424
Inventories
1,143
- -
1,572
Total Current Liabilities
1,494
- -
1,261
Payables & Accruals
- -
- -
- -
ST Debt
535
- -
578
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
24.1%
22.66%
33.52%
Free Cash Flow
355.33%
-99.25%
-54.96%
Net Income, GAAP
23.25%
12.91%
8.64%
Sales/Revenue/Turnover
14.93%
19.84%
-5.25%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,564
1,703
1,909
2,374
7,550
2025
2,518
2,546
3,270
2,425
10,759
2026
2,667
2,538
2,604
2,385
10,194

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6.83
7.44
6.95
- -
28
2025
9.79
8.5
14.43
12.23
45.03
2026
13.08
7.69
14.38
12.33
47.42

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1
2025
- -
- -
- -
- -
2
2026
- -
- -
- -
- -
1.94
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Associated Alcohols & Breweries Limited (ASALCBR.NS)
The Artisanal Spirits Company plc (ART.L)
Business
Associated Alcohols & Breweries Limited manufactures and sells extra neutral alcohol, Indian Made Indian Liquor, Indian Made Foreign Liquor, rectified spirit, potable alcohol, grain spirit, ethanol and by-products including cattle feed from its integrated facility in Barwaha, Madhya Pradesh; the company offers a portfolio of nine proprietary brands such as Bombay Special Whisky, Superman Fine Whisky, Central Province Whisky, Titanium Vodka, Lemount, Nicobar handcrafted gin, Hillfort premium blended malt whisky, James McGill and Jamaican Magic Rum across economy, popular and premium segments; it also bottles licensed brands including Blue Riband Gin, Bagpiper, White Mischief, Director’s Special and McDowell’s for Inbrew, and provides contract manufacturing for Diageo brands such as Black & White, Smirnoff, VAT 69 and Black Dog with 32 bottling lines capable of 12.5 million cases annually and ENA capacity of 45 million liters per annum. Founded in 1989 and headquartered in Indore, Madhya Pradesh, the company operates primarily in India with presence in states including Madhya Pradesh, Chhattisgarh, Kerala, Delhi, Uttar Pradesh, West Bengal, Maharashtra, Goa, Pondicherry, Assam and Tripura, targeting bottlers, manufacturers and consumers in the alcoholic beverages industry. Recent developments include the FY24 launch of a 40 million liters per annum grain-based ethanol plant supplying 29,724 kiloliters to oil marketing companies under the Ethanol Supply Year 2024-25 program; preferential allotment of warrants raising INR 186.7 million in October 2024 and INR 436.5 million in March 2024 for expansions such as a malt plant and Uttar Pradesh bottling cum distillery unit via subsidiary Associated Alcohols and Breweries (Awadh) Limited; new premium product launches including Nicobar super premium gin in Q3 FY24, Hillfort premium blended malt whisky in Q1 FY25, with plans for premium ready-to-drink, brandy and tequila; and achievement of record Q1 FY25 revenue of INR 2,518 million with IMFL proprietary volume growth of 6.4% year-over-year.