Shares of this brewery stock under the ‘small-cap’ category jumped up to 5 percent in Tuesday’s trading session after the company entered into an agreement for manufacturing Indian-made foreign liquor (IMFL). In the last month, the company’s stock has gained nearly 8 percent.
With a market capitalization of Rs 2,724.11 crores, the stocks of Som Distilleries & Breweries Limited closed at Rs 351.45 on Tuesday. The scrip witnessed an intra-day high of Rs 358.55 indicating a gain of approximately 5 percent as compared to the previous close of Rs 341.05 apiece.
In a recent regulatory filing with the BSE dated 16th October 2023, the company published a couple of announcements.
Firstly, the company intimated that it has entered into a strategic contract manufacturing agreement pertaining to the manufacture of Indian-made foreign liquor (IMFL) in Jammu & Kashmir.
In addition, two members from the company’s Promoter group, viz, Mr. Jagdish Kumar Arora and Mr. Deepak Arora, bought 35,000 equity shares and 10,000 equity shares of the company respectively from open market transactions on October 16th, 2023.
Ms. Dolly Khanna, one of the well-known ace investors based in India, has invested in the stocks of Som Distilleries & Breweries Limited. She took entry into the stock for the first time in March 2018 and currently, as per the quarter ended September 2023, she holds 8.73 lakh equity shares equating to a 1.13 percent stake in the company.
Recently, the company declared its financial results for the quarter ended September 2023, i.e., Q2FY23-24 wherein the operating revenues as well as net profits faced a dip in numbers.
The operating revenues fell from Rs 758.63 crores during the June 2023 quarter to Rs 466.14 crores during the September 2023 quarter, and, the latter, declined from Rs 33.67 crores to Rs 14.85 crores keeping the timeframe the same.
The latest shareholding pattern data exhibits the company’s Promoters holding a 34.5 percent stake, and the Foreign Institutional Investors (FIIs) holding a 0.86 percent stake in the company.
Founded in 1993, Som Distilleries & Breweries Limited is involved in the business of brewing, and blending alcoholic beverages including beer, brandy, rum, vodka, Indian-made foreign liquor (IMFL), and many more.
Written by Amit Madnani
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