Associated Alcohols & Breweries Ltd. (ASALCBR)

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Associated Alcohols & Breweries Ltd. (ASALCBR) · mywealthgrid

About

Associated Alcohols & Breweries manufactures spirits and beer in India's Consumer Staples sector. At ₹1,435 Cr market cap, it is a mid-cap player with 62.35% promoter ownership and 35.71% public float. Company paid annual dividends 2021–2025.

Face value: ₹10

Market cap

₹1,228 Cr

P/E

14.9×

P/B

1.8×

Dividend yield

0.3%

ROE

14.6%

ROCE

19.2%

Debt / equity

0.1

OPM

13.8%

EPS (TTM)

₹41.2

Book value

₹345.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin compression: OPM fell from 16.68% (Mar 2026) to 10.48% (Jun 2026)—underlying driver (input costs, sales mix, pricing) requires verification.
Earnings volatility: net profit ranges ₹14–27 Cr across quarters; verify if seasonal or structural.
1y stock return -30.93% against PE 17.37 suggests persistent investor concerns unresolved by valuation—verify regulatory, competitive, or operational headwinds.
Alcohol sector regulatory risk: excise duty hikes, state-level restrictions, or consumption taxes could reduce affordability and compress margins.

Generated analysis · source review pending

Growth drivers

Q3 FY2026 revenue ₹286.3 Cr marks 18.5% QoQ recovery; verify if sustained demand recovery or seasonal rebound, and if profitability follows.
Low leverage (D/E 0.1) enables capex and working capital investment to support growth—verify capacity constraints and capital deployment plans.
Consistent dividend payout 2021–2025 demonstrates cash generation; verify cash conversion efficiency and reinvestment allocation.
Spirits and beer consumption in emerging middle-class segments—verify market growth rates, ASP trends, competitive share gains, and pricing power.

Generated analysis · source review pending

2,233 historical price candles were omitted because the exchange source has not been verified.

₹611.1-3.7%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 20×
+High promoter holding of 62.4% with no pledge

Cons

−Low dividend payout of 4.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 62
Growth: 18
Valuation: 82

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

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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 2025	Mar 2026
	1,097	1,033
COGS	658	588
Gross profit	439	446
	311	303
	128	143
OPM %	11.7%	13.8%
Depreciation	17	24
Interest	6	6
	5	6
Profit before tax	110	118
Tax	28	30
Tax %	25.7%	25.2%
	81	88
PAT margin %	7.4%	8.6%
EPS (₹)	45	47.4
EPS adjusted (₹)	45	44.1
	4.4%	4.2%
Annual report	Annual report for Mar 2025	—

₹ Cr	Mar 2025	Mar 2026
Equity capital	18	20
Reserves	502	675
	98	66
	99	95
Total equity & liabilities	718	856
	351	395
CWIP	32	19
Investments	64	109
	271	333
Total assets	718	856

₹ Cr	Mar 2025	Mar 2026
	74	52
	-83	-88
	1	46
Net cash flow	-8	10
Free cash flow	-12	-5
CFO / Operating profit %	57.7%	36.2%

Compounded sales growth

7 years: —
5 years: —
3 years: —
1 year: -6%

Compounded profit growth

7 years: —
5 years: —
3 years: —
1 year: 9%

Return on equity

7 years: —
5 years: —
3 years: —
Last year: 13%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Portable Alcohol Division	797.93	130.73	417.54	53.7	363.84	35.93
Ethanol Division	265.97	-2.05

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2025	Mar 2026
Margins
Gross margin %	40%	43.1%
EBITDA margin %	11.7%	13.8%
EBIT margin %	10.1%	11.5%
PAT margin %	7.4%	8.6%
Working capital
Receivable days	13	15
Inventory days	76	98
Payable days	25	24
NWC days	64	89
Leverage
Current ratio	1.68	2.58
Debt to EBITDA	0.77	0.46
Debt to equity	0.19	0.1
Interest coverage	20.2	20
Asset turnover	1.53	1.21
Return ratios
Return on assets %	11.3%	10.3%
Return on capital employed %	20.3%	19.2%
Return on equity %	15.7%	12.7%

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
	58.67%	59.29%	59.29%	59.29%	59.29%	59.29%	59.29%	59.29%	61.22%	61.22%	62.35%	62.35%
	0.48%	0.58%	1.2%	1.11%	0.91%	1.2%	1.06%	0.63%	0.48%	0.32%	0.33%	0.69%
	0%	0.1%	0%	0%	0%	0%	0%	0.03%	0.03%	0%	0.94%	1.25%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	40.85%	40.03%	39.51%	39.6%	39.8%	39.51%	39.65%	40.05%	38.27%	38.46%	36.38%	35.71%
No. of shareholders	—	—	—	—	—	—	—	—	39,288	44,160	42,643	40,991

Promoter holding up 3.68 percentage points since Sep 2023.

17 deals · 30 Sept 2021 – 30 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Oct 2025	IRAGE BROKING SERVICES LLP	Bulk	NSE	Buy	1,03,383	₹1,212.34	₹12.53 Cr
30 Oct 2025	EQUITY INTELLIGENCE INDIA PRIVATE LIMITED	Bulk	NSE	Buy	1,00,000	₹1,160.60	₹11.61 Cr
30 Oct 2025	IRAGE BROKING SERVICES LLP	Bulk	NSE	Sell	53,880	₹1,197.12	₹6.45 Cr
15 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,70,147	₹618.13	₹10.52 Cr
15 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,70,147	₹617.46	₹10.51 Cr
26 Feb 2024	GUTTIKONDA VARA LAKSHMI	Bulk	NSE	Buy	1,57,540	₹574.06	₹9.04 Cr
26 Feb 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	99,025	₹557.97	₹5.53 Cr
26 Feb 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	99,025	₹557.59	₹5.52 Cr
11 Aug 2023	PRABHA MOHTA	Bulk	NSE	Sell	1,59,453	₹438.70	₹7.00 Cr
11 Aug 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	93,846	₹447.08	₹4.20 Cr

1–10 of 17

1 / 2

Mr. Prasann Kumar KediaExecutive Director-Chairperson-MD
Mr. Anshuman KediaExecutive Director-CEO
Mr. Tushar BhandariExecutive Director
Mr. Swaraj Kumar PuriNon-Executive - Independent Director
Mr. Debashis DasNon-Executive - Independent Director
Ms. Apurva Pradeep JoshiNon-Executive - Independent Director
Mr. Dilip Kumar InaniChief Financial Officer
Mr. Abhinav MathurCompany 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 Associated Alcohols & Breweries 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

Annual reports

Credit ratings

Submission of Credit ratings received from Crisil31 Oct 2025 from CRISIL

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

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

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Events

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

13

Dividend dividend9 Sept 2026 · ex-date₹2
Dividend dividend25 Jul 2025 · ex-date₹2
Final dividend26 Jul 2024 · ex-date₹2
Final dividend26 Jul 2023 · ex-date₹1
Final dividend28 Jul 2022 · ex-date₹1
Final dividend12 Aug 2021 · ex-date₹1
Final dividend27 Aug 2020 · ex-date₹1
Dividend dividend5 Sept 2019 · ex-date₹1
Dividend dividend14 Aug 2018 · ex-date₹1
Dividend dividend27 Jul 2017 · ex-date₹1
Dividend dividend2 Sept 2016 · ex-date₹0.5
Dividend dividend23 Sept 2015 · ex-date₹0.5
Dividend dividend16 Sept 2008 · ex-date₹0.3

1

Board meeting to consider results24 Jul 2026

1

Bonus 1:110 Mar 2016 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

24 announcementsExport CSV

17 Sept 2026, 6:50 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

16 Sept 2026, 5:29 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

8 Sept 2026, 5:34 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

21 Aug 2026, 1:16 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

20 Aug 2026, 1:32 pmCompany Update

Submission Of Letter Containing Weblink Of 37Th Annual Report 2025-26

General PDF

19 Aug 2026, 5:49 pmCompany Update

Submission Of Letter Containing Weblink Of 37Th Annual Report 2025-26

General PDF

19 Aug 2026, 4:57 pmCorp. Action

Intimation Of Record Date

Record Date PDF

19 Aug 2026, 4:23 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

Date	Category	Subject	Filing
17 Sept 2026, 6:50 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
16 Sept 2026, 5:29 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF

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Ratio	Mar 2025	Mar 2026
Margins
Gross margin %	40%	43.1%
EBITDA margin %	11.7%	13.8%
EBIT margin %	10.1%	11.5%
PAT margin %	7.4%	8.6%
Working capital
Receivable days	13	15
Inventory days	76	98
Payable days	25	24
NWC days	64	89
Leverage
Current ratio	1.68	2.58
Debt to EBITDA	0.77	0.46
Debt to equity	0.19	0.1
Interest coverage	20.2	20
Asset turnover	1.53	1.21
Return ratios
Return on assets %	11.3%	10.3%
Return on capital employed %	20.3%	19.2%
Return on equity %	15.7%	12.7%

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

Associated Alcohols & Breweries 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

Segment results

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

Credit ratings

Investor Presentation and earnings call

Events

Dividends13

Board meetings1

Bonus issues1

Announcements

Dividends13

Board meetings1

Bonus issues1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

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

Segment results

Ethanol Division · revenue

13

1

1

13

1

1