Northern Spirits Ltd

NSL

Watchlist

AI Mode

‌

Market Cap

₹ 244 Cr

P/E

9.30

‌

‌
‌

‌

‌
‌

Investment Checklist

How to read checklist?

Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

Price

PE Ratio

Price

‌

Overview

Detailed Summary

Northern Spirits Limited is a prominent distribution house, importing and distributing international alcoholic beverages across North and East India, with a focus on premium brands.

The company has established a retail presence with outlets like 'The Liquor Exchange' and 'Emporio', aiming at enhancing direct consumer engagement.

Northern Spirits Limited merged with United Wines in 2018 to expand its operations and improve corporate governance.

In 2019, the company raised Rs 18.49 Crores through a public issue to strengthen its financial position.

Significant strategic allocations are done through their brand planning tool, 'House of Brands', ensuring optimal resource distribution.

Sector

Trading

Industry

Trading - Medium / Small

Market Cap

244 Cr

Volatility

Low Risk

P/E Ratio

9.3

Industry P/E

35.5

PEG Ratio

0.2

P/B Ratio

1.8

52W High

240.55

52W Low

142.50

Sales CAGR

57.26%

93.62%

61.51%

10Y

102.84%

Profit CAGR

38.62%

56.41%

44.75%

10Y

—

ROE

TTM

19.16%

16.56%

13.41%

10Y

13.35%

ROCE

TTM

16.25%

31.60%

25.68%

10Y

25.54%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BNL	231.00	253 Cr	71.17	3.83	0.10	5.38	5.26	4.33
EMERGENT	552.50	252 Cr	—	9.01	0.00	-4.18	-5.40	-3.31
AVANCE	1.27	252 Cr	127.00	0.66	0.00	0.32	0.56	0.22
RACE	143.95	248 Cr	40.10	3.41	0.00	8.51	10.14	3.34
NSL	152.20	244 Cr	9.30	1.78	0.20	19.16	16.25	7.58
COMPEAU	397.75	241 Cr	14.75	0.65	0.26	4.43	6.72	1.85
VISAMAN	120.50	233 Cr	108.56	3.79	0.00	5.24	7.42	2.55

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2021	Sep 2021	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	52	112	314	324	461	487	528	466	534	563
Expenses	49	104	306	316	451	478	507	460	521	549
Operating Profit	2.68	7.52	8.22	8.56	9.63	9.40	21	6.28	14	14
OPM %	5.18	6.73	2.62	2.64	2.09	1.93	4.00	1.35	2.53	2.43
Other Income	0.00	0.46	0.22	0.37	0.00	0.50	0.13	0.23	0.34	0.36
Interest	1.05	3.06	1.95	1.98	1.50	2.56	9.10	3.02	4.02	3.94
Depreciation	0.10	0.06	0.06	0.08	0.06	0.05	0.05	0.13	0.13	0.13
Profit Before Tax	1.53	4.86	6.43	6.87	8.06	7.30	12	3.36	9.71	9.99
Tax %	0.00	25.72	23.95	29.40	24.69	23.29	24.03	37.80	24.00	24.02
Net Profit	1.53	3.61	4.89	4.85	6.07	5.60	9.21	2.09	7.38	7.59
EPS in Rs	0.95	2.20	3.05	3.02	3.78	3.49	5.74	1.32	4.60	4.73

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	17	33	119	177	153	268	905	1,235	1,943	2,016
Expenses	16	24	90	152	145	255	883	1,204	1,896	1,966
Operating Profit	0.85	8.47	29	24	8.15	13	23	31	46	50
OPM %	4.91	25.88	24.45	13.79	5.32	4.84	2.50	2.50	2.39	2.50
Other Income	0.04	0.02	0.29	0.19	0.22	0.14	0.32	0.73	0.87	1.20
Interest	0.21	0.21	4.68	3.34	4.08	5.00	7.78	9.12	16	19
Depreciation	0.06	0.07	0.32	0.24	0.16	0.12	0.23	0.23	0.30	0.36
Profit Before Tax	0.63	1.36	15	5.05	4.12	7.97	15	22	31	32
Tax %	18.36	25.32	34.90	28.39	27.96	24.66	25.36	25.67	25.51	25.25
Net Profit	0.51	1.02	10	3.61	2.97	6.00	11	17	23	24
EPS in Rs	—	—	—	—	—	—	—	—	14.33	16.39
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.09	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.41	0.41	1.21	12	16	16	16	16	16	16
Reserves	0.88	1.39	5.21	29	47	50	56	67	84	107
Borrowings	1.96	1.73	5.03	45	43	57	68	95	138	171
Other Liabilities	4.85	9.14	9.18	7.90	2.18	1.51	2.42	4.24	6.86	0.94
Total Liabilities	8.09	13	21	94	109	125	142	183	245	295
Fixed Assets	4.40	4.95	4.90	11	10	10	10	10	11	12
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	3.69	7.71	16	83	98	115	132	172	234	283
Total Assets	8.09	13	21	94	109	125	142	183	245	295

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1.19	0.86	-6.92	-50	-12	-10	0.14	-22	-29	-6.74
Cash from Investing Activity	-0.62	-0.60	-0.01	-5.99	0.00	0.00	-0.30	-0.33	-0.32	-1.28
Cash from Financing Activity	-0.30	-0.43	6.68	20	15	3.50	-2.54	104	34	17
Net Cash Flow	0.27	-0.17	-0.25	-36	2.94	-6.54	-2.70	81	3.95	8.93

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Nov 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	66.97%	66.97%	66.97%	66.97%	66.97%	66.97%	66.97%	66.97%	66.97%	66.97%	66.97%	66.97%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.37%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	33.03%	33.03%	33.03%	33.03%	33.03%	33.03%	33.03%	33.03%	33.03%	33.03%	33.03%	32.66%
Total Shareholders	320	326	380	414	722	1,313	1,723	1,777	3,299	4,120	4,160	4,188

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jul 28, 2025	Yash hitesh patel	Bulk	Buy	198.00	0.01 Cr	415	0.00
Jul 28, 2025	Alacrity securities limited	Bulk	Buy	200.00	2.00 Cr	1,00,000	0.62
Jul 28, 2025	Yash hitesh patel	Bulk	Sell	200.01	2.87 Cr	1,43,719	0.89
Feb 22, 2024	Bhavna hitesh patel	Bulk	Sell	235.00	2.35 Cr	1,00,000	0.62
Jan 30, 2024	Mahadev manubhai makvana	Bulk	Buy	295.87	2.40 Cr	81,000	0.50
Jan 30, 2024	Mahadev manubhai makvana	Bulk	Sell	298.47	2.39 Cr	80,000	0.49
Jan 17, 2024	Nikhil rajesh singh	Bulk	Buy	409.68	3.50 Cr	85,500	0.53
Jan 17, 2024	Nikhil rajesh singh	Bulk	Sell	418.82	2.97 Cr	71,000	0.44

Projection

Actions

Action Type

‌
‌

Announcements

Last 7 days

Newest

Sentiment

Sorry, no results found!

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

AI Mode

Get instant AI-powered insights about company performance, financials, and strategy. Ask questions about trends, competition, and developments while receiving responses backed by official documents and market data, with clear attribution to source documents.

AI Mode

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2021	Sep 2021	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	52	112	314	324	461	487	528	466	534	563
Expenses	49	104	306	316	451	478	507	460	521	549
Operating Profit	2.68	7.52	8.22	8.56	9.63	9.40	21	6.28	14	14
OPM %	5.18	6.73	2.62	2.64	2.09	1.93	4.00	1.35	2.53	2.43
Other Income	0.00	0.46	0.22	0.37	0.00	0.50	0.13	0.23	0.34	0.36
Interest	1.05	3.06	1.95	1.98	1.50	2.56	9.10	3.02	4.02	3.94
Depreciation	0.10	0.06	0.06	0.08	0.06	0.05	0.05	0.13	0.13	0.13
Profit Before Tax	1.53	4.86	6.43	6.87	8.06	7.30	12	3.36	9.71	9.99
Tax %	0.00	25.72	23.95	29.40	24.69	23.29	24.03	37.80	24.00	24.02
Net Profit	1.53	3.61	4.89	4.85	6.07	5.60	9.21	2.09	7.38	7.59
EPS in Rs	0.95	2.20	3.05	3.02	3.78	3.49	5.74	1.32	4.60	4.73

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	17	33	119	177	153	268	905	1,235	1,943	2,016
Expenses	16	24	90	152	145	255	883	1,204	1,896	1,966
Operating Profit	0.85	8.47	29	24	8.15	13	23	31	46	50
OPM %	4.91	25.88	24.45	13.79	5.32	4.84	2.50	2.50	2.39	2.50
Other Income	0.04	0.02	0.29	0.19	0.22	0.14	0.32	0.73	0.87	1.20
Interest	0.21	0.21	4.68	3.34	4.08	5.00	7.78	9.12	16	19
Depreciation	0.06	0.07	0.32	0.24	0.16	0.12	0.23	0.23	0.30	0.36
Profit Before Tax	0.63	1.36	15	5.05	4.12	7.97	15	22	31	32
Tax %	18.36	25.32	34.90	28.39	27.96	24.66	25.36	25.67	25.51	25.25
Net Profit	0.51	1.02	10	3.61	2.97	6.00	11	17	23	24
EPS in Rs	—	—	—	—	—	—	—	—	14.33	16.39
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.09	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.41	0.41	1.21	12	16	16	16	16	16	16
Reserves	0.88	1.39	5.21	29	47	50	56	67	84	107
Borrowings	1.96	1.73	5.03	45	43	57	68	95	138	171
Other Liabilities	4.85	9.14	9.18	7.90	2.18	1.51	2.42	4.24	6.86	0.94
Total Liabilities	8.09	13	21	94	109	125	142	183	245	295
Fixed Assets	4.40	4.95	4.90	11	10	10	10	10	11	12
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	3.69	7.71	16	83	98	115	132	172	234	283
Total Assets	8.09	13	21	94	109	125	142	183	245	295

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1.19	0.86	-6.92	-50	-12	-10	0.14	-22	-29	-6.74
Cash from Investing Activity	-0.62	-0.60	-0.01	-5.99	0.00	0.00	-0.30	-0.33	-0.32	-1.28
Cash from Financing Activity	-0.30	-0.43	6.68	20	15	3.50	-2.54	104	34	17
Net Cash Flow	0.27	-0.17	-0.25	-36	2.94	-6.54	-2.70	81	3.95	8.93

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BNL	231.00	253 Cr	71.17	3.83	0.10	5.38	5.26	4.33
EMERGENT	552.50	252 Cr	—	9.01	0.00	-4.18	-5.40	-3.31
AVANCE	1.27	252 Cr	127.00	0.66	0.00	0.32	0.56	0.22
RACE	143.95	248 Cr	40.10	3.41	0.00	8.51	10.14	3.34
NSL	152.20	244 Cr	9.30	1.78	0.20	19.16	16.25	7.58
COMPEAU	397.75	241 Cr	14.75	0.65	0.26	4.43	6.72	1.85
VISAMAN	120.50	233 Cr	108.56	3.79	0.00	5.24	7.42	2.55

Overview

Detailed Summary

Northern Spirits Limited is a prominent distribution house, importing and distributing international alcoholic beverages across North and East India, with a focus on premium brands.

The company has established a retail presence with outlets like 'The Liquor Exchange' and 'Emporio', aiming at enhancing direct consumer engagement.

Northern Spirits Limited merged with United Wines in 2018 to expand its operations and improve corporate governance.

In 2019, the company raised Rs 18.49 Crores through a public issue to strengthen its financial position.

Significant strategic allocations are done through their brand planning tool, 'House of Brands', ensuring optimal resource distribution.

Sector

Trading

Industry

Trading - Medium / Small

Market Cap

244 Cr

Volatility

Low Risk

P/E Ratio

9.3

Industry P/E

35.5

PEG Ratio

0.2

P/B Ratio

1.8

52W High

240.55

52W Low

142.50

Sales CAGR

57.26%

93.62%

61.51%

10Y

102.84%

Profit CAGR

38.62%

56.41%

44.75%

10Y

—

ROE

TTM

19.16%

16.56%

13.41%

10Y

13.35%

ROCE

TTM

16.25%

31.60%

25.68%

10Y

25.54%