The shares of one of the leading suppliers of Indian-made foreign liquor (IMIL) rose by 3 percent to Rs 479.95 per share after the business launched a new gin brand called “NICOBAR.”
At 11:24 a.m., Associated Alcohols & Breweries Ltd shares were trading at Rs 474.65 a share, up Rs 8.10 or 1.74 percent from the previous close price on the Exchange, and the company has a market capitalization of Rs 857 crores.
The company launched the HANDCRAFTED PREMIUM GIN “NICOBAR”. Nicobar is the only Gin in the country that incorporates three distinct juniper varieties with its unique flavor, innovative blend, and botanicals. The company said in its exchange filing.
The company’s familiar brand includes James McGill Whisky, Bombay Special Series, McDowell’s No. 1 Rum, Black & White Whiskey,Signature Whiskey, VAT 69 Whiskey, and many more.
The company has 58 percent revenue from B2B business and 42 percent from B2C business.
The company’s business sectors range from the production and delivery of Extra Neutral Alcohol (ENA) to contract manufacture for Diageo-USL, as well as the production and marketing of licensed brands, as well as IMIL and 6 IMFL brands.
The company’s integrated state-of-the-art manufacturing plant is in Khodigram, Barwaha district, Khargone, Madhya Pradesh. with a Strong Presence in Kerala, Delhi, Uttar Pradesh, Chhattisgarh and Madhya Pradesh.
In the recent quarter, the company has achieved significant milestones with the completion of the Ethanol manufacturing facility within the existing factory premises at its Madhya Pradesh plant.
Associated Alcohols & Breweries Ltd shares gained 20 percent in the last six months and 12 percent on a year-to-date basis.
Company revenue increased by 17 percent year on year, from Rs 146 crores in Q2FY23 to Rs 171 crores in Q2FY24. During the same period, Net Profit increased by 85 percent, from Rs 7 crores to Rs 13 crores.
Revenue increased by 16 percent in Q2FY23, owing to increased market strength and customer demand for the company’s goods. Successful market penetration in new regions and strategic development in current sectors also drove the company’s revenue growth.
Associated Alcohols & Breweries Ltd is in the business of manufacturing and trading ENA, Indian Made Indian Liquor, Indian Made Foreign Liquor, and Hand sanitizer.
The Company is one of India’s prominent producers of ENA. It is also engaged in the promotion and distribution of a varied range of liquor brands. It is diversifying to manufacture grain-based ethanol to capitalise on a favourable government policy.
Written by Omkar Chitnis
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