Alcohol revenues represent 1.2 percent of India’s nominal GDP, 7.7 percent of the total tax collection, and 11.7 percent of the nation’s indirect tax revenue.
Here are some of the alcohol stocks in which the Mutual Fund companies have increased their holding stake in Q3FY24 which indicates that they are positive and confident about the company’s performance and future outlook.
Sula Vineyards
Sula Vineyards Limited is engaged in the business of producing and selling alcoholic beverages such as wines and spirits to more than 30 countries. It is India’s largest wine producer. It operates through two business categories i.e., wine tourism and wine business.
With a market capitalization of Rs. 5,046 Crores, the shares of Sula Vineyards Limited were trading at Rs. 598.70, down 0.22 percent from its previous day’s close price of Rs. 600.
In Q3FY24, the Mutual Funds increased their holding in the company from 16.46 percent to 17.94 percent, by adding a 1.48 percent stake.
Its revenue from operations grew by 26.37 percent from Rs. 390 Crores in FY22 to Rs. 493 Crores in FY23, accompanied by increasing profits of Rs. 49 Crores to Rs. 88 Crores.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 26.27 percent stake, the Domestic Institutional Investors hold 19.56 percent and the Foreign Institutional Investors (FII) hold 19.69 percent.
United Spirits
United Spirits Limited is engaged in the business of manufacturing and selling alcoholic beverages and other allied spirits. Its premium brand portfolio includes brands like Johnnie Walker, Black Dog, Black & White, Signature, Royal Challenge and many more.
With a market capitalization of Rs. 82,434 Crores, the shares of United Spirits Limited were trading at Rs. 1,133.90, up 0.43 percent from its previous day’s close price of Rs. 1,129.10.
In Q3FY24, the Mutual Funds increased their holding in the company from 9.96 percent to 10.93 percent, by adding a 0.97 percent stake.
Its revenue from operations grew by 9.26 percent from Rs. 9,712 Crores in FY22 to Rs. 10,612 Crores in FY23, accompanied by increasing profits of Rs. 811 Crores to Rs. 1,126 Crores.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 56.68 percent stake, the Domestic Institutional Investors hold 12.49 percent and the Foreign Institutional Investors (FII) hold 16.23 percent.
Radico Khaitan
Radico Khaitan Limited is engaged in the business of manufacturing alcohol and alcoholic products such as Indian-made foreign liquor and country liquor. Some of the brands sold by it are Magic Moments Vodka, Regal Talons Premium Grain whisky, 8 Pm Premium Black Whiskey, and many more.
With a market capitalization of Rs. 22,933 Crores, the shares of Radico Khaitan Limited were trading at Rs. 1,715.10, up 0.30 percent from its previous day’s close price of Rs. 1,710.
In Q3FY24, the Mutual Funds increased their holding in the company from 9.96 percent to 10.39 percent, by adding a 0.43 percent stake.
Its revenue from operations grew by 9.59 percent from Rs. 2,859 Crores in FY22 to Rs. 3,133 Crores in FY23, accompanied by profits of Rs. 252 Crores to Rs. 204 Crores.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 40.26 percent stake, the Domestic Institutional Investors hold 23.99 percent and the Foreign Institutional Investors (FII) hold 19.01 percent.
Written by: Bharath K.S
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