The shares of one of the leading alcoholic beverages manufacturers fell by 11 percent after the income tax department raided various company offices in Madhya Pradesh.
Som Distilleries Breweries & Wineries Ltd is a small-cap company with a market capitalization of Rs 2,541.18 crores. The company shares were trading at Rs 292 a share, a decrease of 10.63 percent from the previous close price of Rs 327.85 a share.
According to the reports, Son Distilleries & Brewery Ltd shares dramatically decreased today due to panic selling on corporate governance issues, this arose because of the raid of the income tax departments in various offices of Madhya Pradesh.
Looking into company financials, the company’s revenue increased by 74 percent from Rs 267.77 Q2FY23 to Rs 466.14 Q2FY24. Further, During the same period, net profit increased by 80 percent from Rs 8.25 crores to Rs 14.85 crores.
The company reported excellent return ratios from the previous financial year. Return on equity (ROE) increased from 3.44 percent in FY 2021-22 to 18.14 percent in FY 2022-23, and in the same time frame, return on capital employed (ROCE) increased from 0.58 percent to 15.65.
The company reported a decrease in the debt-equity ratio from 0.68 percent in FY 2022-23 to 0.65 percent in FY 2023-24.
The company reported an increase in the net profit margin from 1.5 percent in FY 2022-23 to 4.03 percent in FY 2023-24.
Ace investor Dolly Khanna holds 8,73,429 shares, i.e. equivalent to 1.13 percent of the company as of the September quarter of 2023.
Som Distilleries & Breweries Ltd. is one of the leading alcoholic beverages manufacturers in India engaged in the manufacturing and sale of Beer and Indian Made Foreign Liquor
Written by:- Abhishek Singh
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