The sugar industry is facing supply challenges due to demand constraints
Other liquor stocks like Allied Blenders & Distillers, Radico Khaitan and United Spirits strongly tumbled on the back of the rise in duty on Indian Made Foreign Liquor.
While the company's net profit tumbled, its revenue from operations increased over 6 percent YoY to Rs 663 crore in Q4 FY25.
GM Breweries Q3 results: Revenue rises 4% to Rs 644 crore
The Nifty 50 is likely to trend higher and hit new highs amid consolidation. Below are some trading ideas for the near term.
Robust business fundamentals and attractive valuations make it an attractive bet
GM Breweries' board also recommended an issue of bonus shares in the ratio of 1:4. For the bonus issue, the company will use Rs 4.56 crore from its free cash reserves, leaving Rs 804.03 crore in its kitty.
GOCL Corporation, GM Breweries, and Zenith Drugs closed higher on April 1.
GM Breweries' board of directors will consider proposal for issue of bonus shares on April 4, 2024.
Resilient demand and a strong balance sheet make it a solid defensive bet over the medium to long term. Cheerful consumer sentiments around the upcoming festival season and winter could drive an uptick in volumes in H2FY24.
The market closed almost a percent higher on positive global cues as dovish comments from the US Federal Reserve officials eased rates worries. About 2,489 shares advanced, 1,048 declined, and 131 remained unchanged
Growth prospects appear very promising and the current stock valuation multiples are at a discount
Net Sales at Rs 155.97 crore in March 2023 up 9.81% from Rs. 142.03 crore in March 2022.
Given its position and ability to capitalise on market demand, the country liquor manufacturer should maintain industry-level growth, which is expected to remain strong