On Friday, shares of one of the leading alcoholic beverage producers fell 5 percent to Rs 362.55 per share after the company board planned to raise funds through qualified institutional placement (QIP) of equity shares.
At 11:15 a.m., Som Distilleries and Breweries Ltd shares were trading at Rs 367.70 a share, down Rs 13.70 or 3.59 percent from the previous close price on the Exchange, and the company has a market capitalization of Rs 2,840 crores.
As per the exchange filing, The Som Distilleries and Breweries board planned to raise funds through qualified institutions placement (QIP) of equity shares of a face value of Rs 5 each. with a floor price of Rs 349.24. On October 10, 2023. The company’s board of directors will determine the issue price of Equity Shares to be issued pursuant to the Issue, including a discount.
In the most recent fiscal year, the company reported profitability ratios of 16.06 percent return on equity and 14.53 percent return on capital employed.
The Ace investor Dolly Khanna holds 10,15,429 shares in the company as of the June 2024 quarter, equivalent to 1.31 percent.
The company’s stock has delivered a return of 133 percent in six months and 183 percent over a year. An investment of Rs. 1 lakh in the company would be worth Rs. 2.83 lakhs after a year and Rs. 2.33 lakhs after a half-year.
Company revenue increased 198 percent year on year, from Rs 254 crores in Q1FY23 to Rs 758 crores in Q1FY24. During the same time period, Net Profit increased by 32 percent, from Rs 25 crores to Rs 33 crores.
As per the recent shareholding pattern, the company’s promoters hold a 34.47 percent stake, while retail investors hold 64.29 percent stake in the company.
Som Distilleries & Breweries Ltd is one of the leading alcoholic beverages manufacturers in India engaged in the manufacturing of beer and Indian-made foreign spirits.
Written by Omkar Chitnis
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