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    Associated Alcohols – Worth taking a sip

    Despite a clean balance sheet and an exciting growth potential, Associated Alcohols is trading at relatively inexpensive valuations of 11 times FY22 earnings

    Sachin Pal
    March 10, 2021 / 06:03 PM IST
    Associated Alcohols – Worth taking a sip

    Representative image

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Liquor contract manufacturer Associated Alcohols & Breweries (AABL) has delivered impressive results in Q3 FY21 on the back of improved demand conditions. Earnings are poised for growth following a recovery in domestic economic activity and an uptick in consumer sentiment. Results snapshot AABL’s impressive performance was driven by a healthy performance across all its business verticals. Benign raw material prices and control on discretionary spends aided the margin profile in the quarter gone by. (image) On a segmental basis, the Merchant ENA...

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