G M Breweries Ltd

G M Breweries is primarily engaged in the manufacturing of country liquor.(Source : 201903 Annual Report Page No: 52)

Pros:
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 24.87%
Cons:
The company has delivered a poor growth of 9.96% over past five years.

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

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Quarterly Results Figures in Rs. Crores

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
98 101 94 101 118 112 110 112 125 117 119 121
82 85 79 76 84 79 77 81 100 89 93 97
Operating Profit 16 17 15 25 34 33 34 30 25 28 26 24
OPM % 16% 16% 16% 25% 29% 30% 31% 27% 20% 24% 22% 20%
Other Income 1 1 1 0 1 6 1 1 3 9 1 1
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 2 2 2 2 3 2 2
Profit before tax 15 16 16 24 34 38 33 30 26 34 25 23
Tax % 35% 35% 35% 35% 35% 34% 33% 36% 36% 28% 35% 15%
Net Profit 10 10 10 16 22 25 22 19 17 24 16 20
EPS in Rs 5.42 5.65 5.58 8.61 12.20 13.50 12.14 10.63 9.14 13.30 8.90 10.86
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

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
186 210 220 232 257 473 289 307 360 375 426 464 482
159 191 204 197 233 447 246 269 264 306 318 347 379
Operating Profit 27 19 16 35 24 26 42 38 96 69 108 117 103
OPM % 14% 9% 7% 15% 9% 6% 15% 13% 27% 18% 25% 25% 21%
Other Income 0 0 0 3 3 1 1 2 10 4 10 14 13
Interest 2 2 2 2 3 2 6 7 12 0 0 0 0
Depreciation 3 3 4 4 4 4 5 6 5 6 6 7 8
Profit before tax 22 14 10 32 21 21 33 28 88 67 111 123 108
Tax % 34% 35% 35% 34% 34% 34% 34% 35% 34% 35% 34% 33%
Net Profit 15 9 7 21 14 14 22 19 58 44 73 82 77
EPS in Rs 7.83 4.77 3.47 11.16 7.35 7.40 11.57 9.86 31.55 23.86 39.86 45.01 42.20
Dividend Payout % 16% 21% 28% 11% 17% 17% 11% 16% 5% 10% 6% 7%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.26%
5 Years:9.96%
3 Years:8.87%
TTM:6.54%
Compounded Profit Growth
10 Years:24.62%
5 Years:30.57%
3 Years:14.92%
TTM:-12.90%
Stock Price CAGR
10 Years:25.08%
5 Years:43.13%
3 Years:-6.12%
1 Year:-30.30%
Return on Equity
10 Years:23.59%
5 Years:25.18%
3 Years:24.87%
Last Year:24.84%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
9 9 9 9 9 9 9 12 12 15 15 18 18
Reserves 36 42 47 65 76 86 105 114 169 210 277 349 380
Borrowings 15 15 18 32 25 23 29 32 0 0 0 0 0
21 22 41 42 58 65 78 48 50 55 60 57 64
Total Liabilities 81 89 115 148 168 184 221 206 231 279 351 424 462
61 70 72 86 83 85 96 86 79 96 111 139 141
CWIP 4 3 3 21 29 43 7 1 2 76 64 48 50
Investments 0 0 0 0 0 0 49 77 88 46 108 163 188
16 16 40 41 56 56 69 42 62 61 69 74 82
Total Assets 81 89 115 148 168 184 221 206 231 279 351 424 462

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
15 15 9 33 19 17 28 20 60 53 63 61
-13 -10 -6 -36 -5 -18 -27 -13 -4 -50 -61 -57
-4 -5 -0 9 -12 -7 0 -3 -32 -4 -5 -5
Net Cash Flow -1 -0 2 6 2 -8 1 4 24 -1 -4 -2

Ratios Figures in Rs. Crores

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 % 45% 25% 17% 38% 22% 20% 29% 22% 55% 33% 42% 37%
Debtor Days 0 0 0 1 0 0 0 0 0 0 1 2
Inventory Turnover 29.13 29.96 23.13 26.06 29.86 50.60 26.69 18.80 22.48 31.60 38.16 31.61