Share price of this micro-cap alcohol stock moved up by nearly 5.28 percent to Rs. 525 on BSE in the morning trading session of Tuesday, compared to its previous close of Rs. 498.65, after the company announced receiving a license for supplying Country Liquor.
With a market capitalisation of Rs. 923.8 crores, at 11:58 a.m. the shares of Associated Alcohols & Breweries Limited were trading in the green at Rs. 510.95, up by 2.65 percent.
The company has delivered positive returns of about 51.01 percent in the last one year and nearly 9.2 percent in the last six months. So far in 2024, it has given positive returns of around 2.2 percent.
According to recent regulatory filings with the stock exchanges, Associated Alcohols & Breweries Limited has been allotted the license for supplying Country Liquor.
The supply of liquor will be in the allotted districts of Madhya Pradesh for the FY24-25 to the Excise Department, Madhya Pradesh, with an estimated consumption of 183.6 lakh proof litres.
In terms of financials, the company’s standalone revenue from operations grew by nearly 3.24 percent YoY from Rs. 185 crore in Q3 FY22-23 to Rs. 191 crore in Q3 FY23-24, accompanied by an increase in net profit of 18.1 percent YoY, from Rs. 11 crore in Q3 FY22-23 to Rs. 13 crore in Q3 FY23-24.
As of December 2023, FIIs hold 0.58 percent of the shares, while DIIs hold 0.1 percent of the shares in the company, aggregating to 0.68 percent of the institutional holdings.
The Promoters’ holding has increased by 0.62 percent from 58.67 percent in Q2 FY23-24 to 59.29 percent in Q3 FY23-24.
Established in 1989, Associated Alcohols & Breweries Limited is one of the leading and largest liquor manufacturers in Central India.
The company is engaged in the business of manufacturing and trading of extra neutral alcohol (ENA), Indian Made Indian Liquor (Country Liquor), Indian Made Foreign Liquor (IMFL) and hand sanitizer.
Written by Shivani Singh
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