Associated Alcohols & Breweries Ltd

ASALCBR

Watchlist

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Market Cap

₹ 1,830 Cr

P/E

21.27

Turned 1 L into 3.31 L in last 5 Years

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Associated Alcohols & Breweries Limited is a leading manufacturer of Extra Neutral Alcohol (ENA), Indian Made Foreign Liquor (IMFL), and country liquor, with operations centered in Madhya Pradesh, India.

The company has shown robust financial stability with a net debt/equity ratio of 0.04 and an interest coverage ratio of 22x, indicating strong financial health despite market fluctuations.

AABL has strategically entered new markets like Maharashtra and Uttar Pradesh, aiming to establish a pan-India presence with its proprietary brands, including innovative launches such as Culture in ready-to-drink segments.

The company has leveraged government policy incentives for ethanol blending, reaching 85% capacity utilization at its ethanol plant, thus enhancing revenue streams.

Associated Alcohols is actively pursuing premiumization in its product line, amplifying its focus on high-margin, value-added products to capture upscale consumer markets.

Sector

Alcoholic Beverages

Industry

Distilleries

Market Cap

1,830 Cr

Volatility

High Risk

P/E Ratio

21.3

Industry P/E

54.8

PEG Ratio

3.2

P/B Ratio

3.1

52W High

1,496.30

52W Low

898.50

Sales CAGR

41.62%

28.71%

15.43%

10Y

16.03%

Profit CAGR

60.92%

10.24%

10.55%

10Y

21.34%

ROE

TTM

14.66%

13.29%

15.63%

10Y

17.04%

ROCE

TTM

18.19%

16.36%

19.58%

10Y

22.25%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GMBREW	989.10	2,263 Cr	15.81	2.30	0.76	14.56	18.23	13.01
SDBL	108.75	2,130 Cr	20.58	2.57	0.00	12.47	15.26	7.46
ASALCBR	961.40	1,830 Cr	21.27	3.12	0.20	14.66	18.19	11.09
IFBAGRO	1225.65	1,142 Cr	22.05	1.74	0.00	7.91	10.57	5.50
BCLIND	31.98	940 Cr	9.02	1.10	0.82	12.20	11.67	6.74
GULPOLY	138.25	862 Cr	20.20	1.35	0.22	6.66	8.68	3.30
JAGAJITIND	135.80	640 Cr	—	39.89	0.00	-305.43	-3.27	-6.75

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2014	Dec 2014	Mar 2015	Jun 2015	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	67	77	75	73	252	255	327	242	267	254
Expenses	57	70	69	63	224	230	287	207	230	230
Operating Profit	10	7.21	6.20	9.85	28	25	40	35	37	24
OPM %	15.24	9.37	8.22	13.47	11.16	9.80	12.09	14.63	13.92	9.46
Other Income	0.00	0.00	2.45	0.00	1.35	1.42	1.09	0.82	1.81	1.04
Interest	1.66	1.50	1.38	1.61	1.54	1.40	1.34	1.41	1.56	0.96
Depreciation	2.32	2.10	3.81	2.40	4.10	4.07	4.19	5.08	5.60	5.66
Profit Before Tax	6.28	3.61	3.47	5.84	24	21	35	30	32	18
Tax %	60.51	24.93	9.22	59.42	25.66	26.70	25.68	25.13	25.56	24.02
Net Profit	2.48	2.71	3.15	2.37	18	15	26	22	24	14
EPS in Rs	—	1.43	1.66	1.25	9.21	8.00	13.37	11.12	11.83	7.48

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2013	Mar 2014	Mar 2015	Mar 2025	TTM
Sales	157	213	299	1,097	1,091
Expenses	145	195	268	947	954
Operating Profit	12	18	31	149	137
OPM %	7.54	8.59	10.43	13.62	12.57
Other Income	2.74	5.16	4.10	4.68	5.14
Interest	4.04	7.02	6.54	5.70	5.71
Depreciation	4.95	6.58	10	17	19
Profit Before Tax	5.50	9.79	18	110	118
Tax %	39.89	40.31	33.06	25.72	25.68
Net Profit	3.31	5.84	12	81	87
EPS in Rs	—	6.47	10.40	41.70	43.80
Dividend Payout %	0.00	0.00	3.66	4.65	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2013	Mar 2014	Mar 2015	Mar 2025
Equity Capital	9.04	9.04	9.04	18
Reserves	42	48	59	502
Borrowings	56	85	38	102
Other Liabilities	57	49	64	96
Total Liabilities	165	191	170	718
Fixed Assets	89	98	94	351
CWIP	7.65	0.32	1.61	32
Investments	3.81	3.81	3.46	64
Other Assets	65	89	71	270
Total Assets	165	191	170	718

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2013	Mar 2014	Mar 2015	Mar 2025
Cash from Operating Activity	18	-13	47	74
Cash from Investing Activity	-37	-9.07	-5.76	-83
Cash from Financing Activity	22	28	-47	0.93
Net Cash Flow	2.27	5.40	-4.86	-8.24

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	58.45%	58.45%	58.45%	58.67%	59.29%	59.29%	59.29%	59.29%	59.29%	59.29%	59.29%	61.22%
FIIs	0.53%	0.58%	0.55%	0.48%	0.58%	1.20%	1.11%	0.91%	1.20%	1.06%	0.63%	0.60%
DIIs	3.49%	0.01%	0.00%	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.03%
Public	37.53%	40.97%	41.00%	40.85%	40.03%	39.51%	39.60%	39.80%	39.50%	39.65%	40.05%	38.15%
Total Shareholders	45,484	43,773	42,069	40,067	38,227	35,943	34,194	33,455	32,914	36,020	38,316	38,971

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Oct 30, 2025	Equity intelligence india pri...	Bulk	Buy	1,160.60	11.61 Cr	1,00,000	0.52
Oct 30, 2025	Irage broking services llp	Bulk	Buy	1,212.34	12.53 Cr	1,03,383	0.54
Oct 30, 2025	Irage broking services llp	Bulk	Sell	1,197.12	6.45 Cr	53,880	0.28
Mar 27, 2024	Vedant kedia revised	Insider - Promoter Group	Acquisition	492.23	1.58 Cr	32,000	0.17
Mar 27, 2024	Anshuman kedia revised	Insider - Promoter & Director	Acquisition	482.73	1.54 Cr	32,000	0.17
Feb 26, 2024	Guttikonda vara lakshmi	Bulk	Buy	574.06	9.04 Cr	1,57,540	0.87
Jan 10, 2024	Anshuman kedia revised	Insider - Promoter & Director	Acquisition	467.71	1.13 Cr	24,200	0.13
Jan 10, 2024	Vedant kedia revised	Insider - Promoter Group	Acquisition	472.39	1.14 Cr	24,200	0.13
Dec 21, 2023	Anshuman kedia	Insider - Promoter	Acquisition	48.27	0.15 Cr	32,000	0.17
Dec 21, 2023	Vedant kedia	Insider - Promoter	Acquisition	492.23	1.58 Cr	32,000	0.17

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Analyst/Investor Meet

7 hours ago

Analyst/Investor Meet Scheduled

Associated Alcohols & Breweries Limited has scheduled an in-person analyst/investor meeting on December 19, 2025, at their Indore plant.

Press Release

5 days ago

Launch of Premium Products in Jharkhand

Associated Alcohols & Breweries Limited has launched a premium portfolio of products including gin, vodka, and whiskey in Jharkhand.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Showing 1 - 8 of 34

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GMBREW	989.10	2,263 Cr	15.81	2.30	0.76	14.56	18.23	13.01
SDBL	108.75	2,130 Cr	20.58	2.57	0.00	12.47	15.26	7.46
ASALCBR	961.40	1,830 Cr	21.27	3.12	0.20	14.66	18.19	11.09
IFBAGRO	1225.65	1,142 Cr	22.05	1.74	0.00	7.91	10.57	5.50
BCLIND	31.98	940 Cr	9.02	1.10	0.82	12.20	11.67	6.74
GULPOLY	138.25	862 Cr	20.20	1.35	0.22	6.66	8.68	3.30
JAGAJITIND	135.80	640 Cr	—	39.89	0.00	-305.43	-3.27	-6.75

Oscillators

BearishNeutralBullish

Neutral

Bearish

Distilleries

Market Cap

1,830 Cr

Volatility

High Risk

P/E Ratio

21.3

Industry P/E

54.8

PEG Ratio

3.2

P/B Ratio

3.1

52W High

1,496.30

52W Low

898.50

Sales CAGR

41.62%

28.71%

15.43%

10Y

16.03%

Profit CAGR

60.92%

10.24%

10.55%

10Y

21.34%

ROE

TTM

14.66%

13.29%

15.63%

10Y

17.04%

ROCE

TTM

18.19%

16.36%

19.58%

10Y

22.25%