Associated Alcohols & Breweries Ltd

Associated Alcohols & Breweries is one of the leading and largest liquor manufacturers in Central India. The Companys principal business is manufacturing and trading of ENA, Indian Made Indian Liquor (Country Liquor) and Indian Made Foreign Liquor.(Source : 201903 Annual Report Page No: 91)

  • Market Cap: 473.40 Cr.
  • Current Price: 261.85
  • 52 weeks High / Low 298.00 / 122.00
  • Book Value: 108.01
  • Stock P/E: 9.60
  • Dividend Yield: 0.38 %
  • ROCE: 31.01 %
  • ROE: 22.44 %
  • Sales Growth (3Yrs): 11.50 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Edit ratios
Pros:
Company has reduced debt.
Company is virtually debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 38.98% CAGR over last 5 years
Cons:

Peer comparison Sector: Alcoholic Beverages // Industry: Breweries & Distilleries

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
86 64 97 78 97 72 114 116 130 119 141 132
72 56 79 67 76 61 98 105 108 106 116 116
Operating Profit 14 8 18 11 20 11 16 11 22 13 25 17
OPM % 17% 13% 19% 14% 21% 15% 14% 9% 17% 11% 18% 12%
Other Income 0 2 0 1 1 0 0 3 1 1 1 2
Interest 1 1 1 1 0 0 1 1 1 0 0 1
Depreciation 3 3 3 3 3 3 3 3 3 4 4 4
Profit before tax 11 6 15 7 18 8 12 10 18 10 22 14
Tax % 35% 40% 35% 38% 35% 35% 35% 40% 35% -15% 28% 23%
Net Profit 7 4 10 5 11 5 8 6 12 11 16 11
EPS in Rs 4.09 2.00 5.28 2.57 6.34 2.74 4.50 3.16 6.48 6.12 8.75 5.94
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
121 97 109 91 138 157 213 298 288 291 324 399 523
110 91 103 85 129 145 195 268 249 250 272 341 446
Operating Profit 11 6 6 6 9 12 18 31 39 41 52 58 77
OPM % 9% 6% 5% 7% 7% 7% 9% 10% 13% 14% 16% 14% 15%
Other Income 1 2 1 3 2 3 5 4 -0 2 2 4 3
Interest 2 2 3 3 4 4 7 7 5 4 4 2 2
Depreciation 2 3 3 3 4 5 7 10 10 11 11 12 14
Profit before tax 8 2 2 3 3 6 10 18 23 27 39 47 64
Tax % 27% 53% 35% 22% 25% 40% 40% 33% 38% 38% 36% 36%
Net Profit 6 1 1 2 3 3 6 12 14 17 25 30 49
EPS in Rs 0.64 0.66 1.36 1.43 1.83 3.23 6.82 7.90 9.35 13.93 16.74 27.29
Dividend Payout % 4% 0% 0% 0% 0% 0% 0% 4% 6% 11% 7% 6%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:15.15%
5 Years:13.33%
3 Years:11.50%
TTM:31.13%
Compounded Profit Growth
10 Years:38.45%
5 Years:38.98%
3 Years:27.32%
TTM:62.97%
Stock Price CAGR
10 Years:32.56%
5 Years:28.95%
3 Years:28.76%
1 Year:57.41%
Return on Equity
10 Years:16.02%
5 Years:21.08%
3 Years:22.05%
Last Year:22.44%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
7 9 9 9 9 9 9 9 18 18 18 18 18
Reserves 28 33 34 36 39 42 48 59 63 79 103 131 177
Borrowings 25 23 25 38 42 64 92 45 39 32 21 28 8
29 25 27 28 44 49 42 57 51 41 59 67 70
Total Liabilities 89 91 95 112 134 164 191 170 170 169 201 244 274
33 32 34 31 56 88 98 93 93 86 80 116 110
CWIP 0 0 3 10 8 8 0 2 2 5 23 2 11
Investments 1 0 2 2 2 4 4 3 2 2 3 3 2
55 59 56 68 67 65 89 71 74 76 96 123 151
Total Assets 89 91 95 112 134 164 191 170 170 169 201 244 274

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
24 -11 11 -5 19 18 -13 47 10 25 39 25
-9 0 -10 -7 -27 -37 -9 -6 -9 -13 -23 -28
-5 -1 2 15 7 22 28 -47 -7 -12 -16 3
Net Cash Flow 10 -11 4 3 -0 2 5 -5 -6 -0 -1 -1

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 16% 7% 7% 6% 8% 9% 13% 17% 25% 26% 32% 31%
Debtor Days 49 60 54 60 26 20 13 10 15 22 21 28
Inventory Turnover 4.56 1.99 2.87 3.70 3.82 5.44 6.55 6.43 6.55 5.62 3.94 3.46

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
58.45 58.45 58.45 58.45 58.45 58.45 58.45 58.45 58.45 58.45 58.45 58.45
0.69 0.33 0.06 0.46 0.46 0.29 0.55 0.57 0.57 0.57 0.57 0.56
0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.03 0.10 0.04
40.85 41.21 41.49 41.08 41.08 41.25 40.99 40.97 40.97 40.95 40.88 40.95