Asgard Alcobev Q2 FY27 Net Profit Reaches ₹2.55 Crore

Asgard Alcobev Limited reported Q2 FY27 consolidated revenue of ₹48.93 crore and net profit of ₹2.55 crore for the quarter ended September 30, 2026, with revenue up 102.8% year on year and profit up from ₹0.17 crore in Q2 FY26. The results reflect the larger contribution of its brewing business through CMJ Breweries Private Limited.

What did Asgard Alcobev report for Q2 FY27?

Asgard Alcobev reported consolidated revenue of ₹48.93 crore in Q2 FY27, while net profit stood at ₹2.55 crore. Revenue was 102.8% higher than the corresponding quarter of FY26, and net profit was 1,150% higher than the ₹0.17 crore reported a year earlier.

The quarter followed a strong first quarter, although revenue declined 7.7% sequentially from ₹53.04 crore in Q1 FY27. The available Q2 earnings summary puts derived EBITDA operating margin at 15.0%. This compares with the company's reported FY26 EBITDA margin of 7%, indicating a higher operating margin in the reported September quarter.

How did the brewing business shape the quarterly numbers?

The brewing business shaped the quarter because CMJ Breweries Private Limited is Asgard Alcobev's principal operating platform. The company has shifted from its earlier paper-linked structure to a brewing and beverage-focused business, with the subsidiary supporting revenue generation and product expansion.

Asgard Alcobev's investor presentation identifies contract manufacturing and seven owned labels as central to its Meghalaya expansion strategy. CMJ Breweries operates a facility at Byrnihat, Meghalaya, with installed annual capacity of 8.4 million cases, up from 1.2 million cases in 2012. The facility produces beer for partners including United Breweries, Carlsberg India and Mohan Meakin, according to the supplied disclosure.

The half-year results provide additional context for the quarterly performance. For the six months ended September 30, 2026, consolidated total income rose to ₹102.43 crore from ₹45.30 crore a year earlier. Revenue from operations was ₹101.96 crore, while consolidated profit after tax rose to ₹4.24 crore from ₹0.82 crore.

What do the half-year cash flow and profit figures show?

The half-year figures show that Asgard Alcobev generated operating cash flow of ₹10.98 crore while reporting consolidated profit after tax of ₹4.24 crore. Operating cash flow was higher than ₹4.00 crore reported in the corresponding prior-year period, and cash and cash equivalents at September 30, 2026 were ₹1.16 crore.

Of the half-year consolidated profit, ₹3.37 crore was attributable to owners of Asgard Alcobev and ₹0.87 crore was attributable to non-controlling interest. CMJ Breweries reported ₹5.53 crore of profit for the half year before consolidation adjustments, exceeding the group's consolidated profit. The supplied information does not include a separate parent profit-and-loss account within the consolidated results, limiting a direct comparison between the subsidiary and parent company.

What board decisions accompanied the Q2 FY27 results?

The board approved director-related proposals alongside the Q2 FY27 results, including the appointment of Desai Venkatesh as an Independent Director. It also approved the continuation of Mundrath Ravindranathan and authorised a postal ballot for the relevant shareholder matters.

The auditor issued an unmodified limited-review conclusion on the reported results. The disclosure also referred to prior-period acquisition-accounting corrections. An unmodified conclusion means the auditor did not identify material misstatements requiring a modification to its review conclusion, while the reference to prior-period corrections remains relevant for readers assessing comparability across periods.

The supplied material contains separate standalone figures of ₹0.42 crore in revenue, ₹0.02 crore in net profit and ₹0.38 crore in expenses for the September quarter. These figures are materially different from the consolidated earnings summary and are not reconciled in the information provided. The consolidated numbers are therefore the basis for assessing the group's operating performance.

How does the Q2 result affect investors and operations?

The Q2 result shows that Asgard Alcobev's consolidated revenue remained close to the ₹50 crore quarterly level after its Q1 FY27 revenue of ₹53.04 crore. The year-on-year improvement reflects a substantially larger business base than the corresponding period of FY26, when the company was still progressing through its transition to a brewing-led operating structure.

For investors, the most relevant operating indicators are consolidated revenue, profitability, cash generation and the execution of the Meghalaya platform strategy. The sequential revenue decline of 7.7% provides context alongside the 102.8% year-on-year rise. The disclosures do not provide segment-level profitability or a detailed reconciliation of standalone and consolidated quarterly numbers, so those items cannot be independently assessed from the supplied material.

Conclusion

Asgard Alcobev's Q2 FY27 consolidated results show revenue of ₹48.93 crore and net profit of ₹2.55 crore, supported by its brewing operations through CMJ Breweries. The half-year figures, including ₹102.43 crore in total income and ₹10.98 crore in operating cash flow, provide broader evidence of the scale achieved following the business transition.

Investors should watch the postal-ballot outcome on the director proposals, further disclosures on acquisition-accounting corrections and subsequent updates on contract manufacturing, owned-label expansion and capacity utilisation at the Meghalaya brewing platform.