Alcohol stock engaged in manufacturing and marketing alcoholic beverages in focus upon posting robust Year-ended March 2024 results, with a 283 percent increase in net profits, and proposing issuance of bonus shares in the ratio of 1:4.
With a market capitalization of Rs. 1,390 Crores, the shares of GM Breweries Limited were trading at Rs. 760, down 2.81 percent from its previous day’s close price of Rs. 781.95
G M Breweries Limited has announced the financial results of the company for the quarter/year ended March 31, 2024, along with the issuance of dividend and bonus shares of the company as follows
Its revenue from operations grew by 3.30 percent YoY from Rs. 603.33 Crores in Q4FY23 to Rs. 623.24 Crores in Q4FY24 and it grew by 0.81 percent QoQ from Rs. 618.20 Crores in Q3FY24 to Rs. 623.24 Crores in Q4FY24.
Its Net Profit Grew by 146.83 percent YoY from Rs. 35.10 Crores in Q4FY23 to Rs. 86.64 Crores in Q4FY24 and it grew 283.36 percent QoQ from Rs. 22.60 Crores in Q3FY24 to Rs 86.64 Crores in Q4FY24.
In addition to the robust results, the board of directors has proposed to issue bonus shares of the company in the ratio of 1:4 where one equity share of the company will be issued for every four equity shares held by the shareholders of the company as on the record date.
G M Breweries Limited has also proposed to issue a dividend at 70 percent i.e. Rs.7 per equity share of face value Rs.10 each held by the shareholders of the company as of the record date.
G M Breweries Limited is engaged in the business of manufacturing and marketing of alcoholic beverages such as country liquor and Indian-made foreign liquor. Some of the brands sold by the company are G.M.SANTRA, G.M.DOCTOR, G.M.LIMBU PUNCH, and G.M.DILBAHAR SOUNF.
Written by: Bharath K.S
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