Agribio Spirits Ltd (AGRIBIO)

About

Agribio Spirits Ltd operates in breweries and distilleries within India's beverages sector, with a market cap of ₹344.77 Cr and quarterly revenue typically ₹4–8 Cr. The company faces significant operational volatility, with operating margins ranging from −25% to +15% in recent quarters and ROE of only 6.42%, indicating weak capital efficiency despite a conservative debt-free balance sheet (D/E 0.03).

Face value: ₹10

Market cap

₹338 Cr

P/E

92.1×

P/B

4.7×

Dividend yield

0.1%

ROE

5.8%

ROCE

2.4%

Debt / equity

0.26

OPM

-1%

EPS (TTM)

₹3.4

Book value

₹66.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Revenue highly volatile and declining: ₹7.85 Cr (Dec 2024) to ₹4.71 Cr (Mar 2025), with extreme lows of ₹0.56 Cr (Jun 2024); verify cause and sustainability

Operating margins erratic and currently negative: Mar 2025 −13.58%, Jun 2024 −24.91%, vs. Mar 2024 +15.08%; cost structure misaligned with revenue; profitability path unclear

Valuation stretched at PE 93.94 relative to current earnings of ₹0.32 Cr (Mar 2025); pricing in substantial recovery; downside risk if turnaround does not materialize

Small scale (₹344 Cr market cap, ₹4–8 Cr quarterly revenue) vulnerable to: competition from large-cap producers; excise duty or regulatory changes in alcohol sector; verify competitive positioning and regulatory sensitivity

Generated analysis · source review pending

Growth drivers

Revenue stabilization at recent peaks: Company generated ₹7.85 Cr (Dec 2024) and ₹6.3 Cr (Sep 2023); sustained revenue above ₹6 Cr vs. current ₹4.71 Cr would improve profitability

Operating margin recovery: Achieved 15.08% margin (Mar 2024) vs. current −13.58% (Mar 2025); partial recovery to 5-10% range would significantly expand net profit

Demonstrated dual capability: Company achieved ₹7.85 Cr revenue (Dec 2024) and 15.08% operating margin (Mar 2024) separately; combining these strengths would substantially improve net profit

Generated analysis · source review pending

1,651 historical price candles were omitted because the exchange source has not been verified.

₹310.2-1.2%1Y

Quick read

rule-based

Pros

+Profit CAGR of 60.8% over the last 3 years
+Revenue CAGR of 34.5% over the last 3 years

Cons

−Low return on equity of 7.1% (3-yr avg)
−Expensive at 92.1× trailing earnings
−Low dividend payout of 8.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

56/100

Business quality: 26
Growth: 100
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
United Spirits LimitedUNITDSPRUNITDSPR	₹97,115 Cr	₹97,121 Cr	₹28,118 Cr	₹2,281 Cr	8.2%	₹1,884 Cr	6.6%	27.2%	21.6%	63
Radico Khaitan LimitedRADICORADICO	₹56,733 Cr	₹57,065 Cr	₹21,531 Cr	₹1,138 Cr	4.9%	₹704 Cr	2.9%	26.2%	19.9%	113
United Breweries LimitedUBLUBL	₹31,432 Cr	₹32,607 Cr	₹18,002 Cr	₹777 Cr	4.6%	₹396 Cr	2.4%	12.7%	9.3%	86
Allied Blenders And Distillers LimitedABDLABDL	₹19,004 Cr	₹20,150 Cr	₹7,604 Cr	₹546 Cr	7.2%	₹221 Cr	2.9%	26.7%	14.2%	77
Tilaknagar Industries LimitedTITI	₹13,428 Cr	₹15,723 Cr	₹6,711 Cr	₹494 Cr	8%	₹-32 Cr	0.4%	11.7%	1.1%	107
Piccadily Agro Industries LimitedPICCADILPICCADIL	₹5,729 Cr	₹6,260 Cr	₹1,177 Cr	₹239 Cr	20.6%	₹141 Cr	12.1%	32.5%	24.8%	297
Globus Spirits LimitedGLOBUSSPRGLOBUSSPR	₹2,290 Cr	₹2,805 Cr	₹3,813 Cr	₹279 Cr	7.2%	₹101 Cr	2.5%	13.4%	8.8%	41
Gm Breweries LimitedGMBREWGMBREW	₹2,171 Cr	₹2,171 Cr	₹2,977 Cr	₹181 Cr	6.1%	₹157 Cr	5.3%	19.1%	14.5%	17
India Glycols LimitedINDIAGLYCOINDIAGLYCO	₹2,002 Cr	₹3,580 Cr	₹10,312 Cr	₹669 Cr	6.6%	₹316 Cr	3%	11.9%	11.3%	27
Som Distilleries & Breweries LimitedSDBLSDBL	₹1,558 Cr	₹1,770 Cr	₹2,026 Cr	₹30 Cr	3.7%	₹-30 Cr	0.5%	6.1%	1.2%	21
Associated Alcohols & Breweries Ltd.ASALCBRASALCBR	₹1,228 Cr	₹1,294 Cr	₹1,049 Cr	₹136 Cr	13.8%	₹83 Cr	8.6%	19.2%	14.6%	89
Sula Vineyards LimitedSULASULA	₹1,105 Cr	₹1,399 Cr	₹599 Cr	₹102 Cr	17.4%	₹25 Cr	4.3%	9.7%	4.4%	375

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	18	21	20	45
COGS	17	20	18	45
Gross profit	1	1	2	0
	0	0	1	-2
	1	1	1	2
OPM %	3.9%	3.7%	5.4%	4.6%
Depreciation	0	0	0	0
Interest	0	0	0	0
	1	1	1	2
Profit before tax	1	3	4	4
Tax	0	0	0	0
Tax %	24.8%	10.8%	10.1%	1.5%
	1	3	4	4
PAT margin %	5.3%	14.6%	18.3%	9%
EPS (₹)	1.3	4	3.6	3.7
EPS adjusted (₹)	1.3	4	3.6	3.7
	39.4%	5%	7%	8.1%
Annual report	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	8	8	10	11
Reserves	12	40	56	61
Minority interest	0	—	—	—
	1	2	2	18
	6	8	1	3
Total equity & liabilities	26	59	69	93
	0	0	0	13
CWIP	0	0	2	4
Investments	15	43	46	48
	11	15	21	28
Total assets	26	59	69	93

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-0	6	0	-2	-12	-4
	1	-6	0	-0	-1	-14
	-1	-0	-0	2	13	18
Net cash flow	—	0	0	-0	0	0
Free cash flow	—	—	0	—	—	-4
CFO / Operating profit %	—	—	30.6%	-238.5%	—	—

Compounded sales growth

7 years: —
5 years: —
3 years: 35%
1 year: 124%

Compounded profit growth

7 years: —
5 years: —
3 years: 61%
1 year: 10%

Return on equity

7 years: —
5 years: —
3 years: 6%
Last year: 6%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	6.3%	5.4%	10.5%	0.5%
EBITDA margin %	3.9%	3.7%	5.4%	-1%
EBIT margin %	3.9%	3.1%	4.9%	-1.3%
PAT margin %	5.3%	14.6%	18.3%	9%
Working capital
Receivable days	23	20	32	6
Inventory days	0	0	0	0
Payable days	129	143	12	17
NWC days	-106	-123	20	-11
Leverage
Current ratio	1.78	1.67	17.56	9.48
Debt to EBITDA	0.88	3.05	1.73	—
Debt to equity	0.03	0.05	0.03	0.26
Interest coverage	130	13.3	9.6	6.5
Asset turnover	0.7	0.36	0.29	0.48
Return ratios
Return on assets %	3.7%	5.2%	5.3%	4.3%
Return on capital employed %	6.5%	4.1%	2.9%	2.4%
Return on equity %	5%	6.4%	5.5%	5.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	61.61%	61.61%	61.61%	61.61%	61.61%	47.42%	45.93%	43.5%	43.27%	43.27%	43.27%	43.27%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0.09%	0.16%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	38.39%	38.39%	38.39%	38.39%	38.39%	52.58%	54.07%	56.5%	56.73%	56.73%	56.64%	56.57%
No. of shareholders	—	—	—	—	—	—	—	—	2,317	2,221	2,173	2,210

Promoter holding down 18.34 percentage points since Sep 2023.

138 deals · 10 Aug 2021 – 11 Sept 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
11 Sept 2025	DANARAM JIVARAM CHOUDHARY	Bulk	BSE	Sell	82,899	₹218.92	₹1.81 Cr
20 Dec 2024	SABOOSODIUM LASTNAME	Bulk	BSE	Buy	64,814	₹139.12	₹0.90 Cr
17 Sept 2024	SANTOSH KANODIA	Bulk	BSE	Sell	43,379	₹82.08	₹0.36 Cr
27 Aug 2024	NIRAJ RAJNIKANT SHAH	Bulk	BSE	Buy	49,589	₹60.29	₹0.30 Cr
18 Oct 2023	VARSHABEN PARMAR	Bulk	BSE	Sell	57,423	₹56.30	₹0.32 Cr
18 Oct 2023	RANJANBEN RAMESHBHAI SONARA	Bulk	BSE	Sell	49,613	₹56.25	₹0.28 Cr
18 Oct 2023	RANJANBEN RAMESHBHAI SONARA	Bulk	BSE	Buy	45,252	₹56.22	₹0.25 Cr
18 Oct 2023	NIMISHABEN ASHVINBHAI PARMAR	Bulk	BSE	Sell	40,366	₹56.43	₹0.23 Cr
18 Oct 2023	NIMISHABEN ASHVINBHAI PARMAR	Bulk	BSE	Buy	40,366	₹56.59	₹0.23 Cr
18 Oct 2023	ARVIND KRISHNA CHANDURKAR	Bulk	BSE	Sell	39,123	₹56.20	₹0.22 Cr

1–10 of 138

1 / 14

Mr. KAMAL KISHOR SHARMANon-Executive - Independent Director-Chairperson
Mr. ASHUTOSH BAJORIANon-Executive - Non Independent Director
Mrs. PUJA BAJORIANon-Executive - Non Independent Director
Mr. RATAN SINGHExecutive Director-MD
Mr. NITIN HOTCHANDANINon-Executive - Independent Director
Mr. Gaurav SomaniChief Financial Officer
Ms. Madhuri DhanopiaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Agribio Spirits Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Annual reports

13

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

4

Final dividend23 Sept 2026 · ex-date₹0.3
Final dividend19 Sept 2025 · ex-date₹0.25
Final dividend19 Sept 2024 · ex-date₹0.2
Final dividend20 Sept 2023 · ex-date₹0.5

1

Board meeting to consider results14 Aug 2026

1

Bonus 1:18 Oct 2018 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

19 announcementsExport CSV

1 Oct 2026, 11:58 amAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

30 Sept 2026, 4:47 pmCorp. Action

Corporate Action-Board approves Dividend

Dividend/AGM PDF

30 Sept 2026, 3:05 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

22 Sept 2026, 12:19 pmCompany Update

Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Scheme of Arrangement PDF

10 Sept 2026, 5:38 pmCompany Update

Appointment of Company Secretary and Compliance Officer

Appointment of Company Secretary / Compliance Officer PDF

10 Sept 2026, 5:33 pmCompany Update

Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer

Resignation of Company Secretary / Compliance Officer PDF

9 Sept 2026, 2:10 pmCompany Update

Commencement Of Production Activities By The Wholly Owned Subsidiary

General PDF

7 Sept 2026, 3:49 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
1 Oct 2026, 11:58 am	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
30 Sept 2026, 4:47 pm	Corp. Action Dividend/AGM	Corporate Action-Board approves Dividend

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Agribio Spirits Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends4

Board meetings1

Bonus issues1

Announcements

Ratio timeline

Not in the F&O segment

Dividends4

Board meetings1

Bonus issues1

No fund holdings on record

Announcements

Annual reports

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

4

1

1

4

1

1