G M Breweries Ltd

About [ edit ]

G M Breweries Ltd, set up in 1981 manufactures and markets Alcoholic Beverages such as Country Liquor (CL) and Indian-made Foreign Liquor (IMFL). #

Key Points [ edit ]
  • Market Cap 734 Cr.
  • Current Price 401
  • High / Low 481 / 364
  • Stock P/E 9.17
  • Book Value 276
  • Dividend Yield 0.75 %
  • ROCE 21.4 %
  • ROE 17.1 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of -1.10% over past five years.
  • Earnings include an other income of Rs.30.17 Cr.
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Quarterly Results

Figures in Rs. Crores

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
110 112 125 117 119 121 120 109 28 73 112 128
77 81 100 89 93 97 100 90 23 57 84 100
Operating Profit 34 30 25 28 26 24 20 19 5 15 28 28
OPM % 31% 27% 20% 24% 22% 20% 17% 17% 18% 21% 25% 22%
Other Income 1 1 3 9 1 1 1 7 0 2 2 26
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 2 2 3 2 2 2 2 2 2 2 0
Profit before tax 33 30 26 34 25 23 19 24 3 15 28 54
Tax % 33% 36% 36% 28% 35% 15% 25% 26% 25% 25% 25% 15%
Net Profit 22 19 17 24 16 20 14 18 2 11 21 45
EPS in Rs 12.14 10.63 9.14 13.31 8.90 10.86 7.65 9.72 1.33 6.13 11.55 24.81

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
220 232 257 473 289 307 360 375 426 464 469 340
204 197 233 447 246 269 264 306 318 347 378 265
Operating Profit 16 35 24 26 42 38 96 69 108 117 91 75
OPM % 7% 15% 9% 6% 15% 13% 27% 18% 25% 25% 19% 22%
Other Income 0 3 3 1 1 2 10 4 10 14 7 30
Interest 2 2 3 2 6 7 12 0 0 0 0 0
Depreciation 4 4 4 4 5 6 5 6 6 7 7 5
Profit before tax 10 32 21 21 33 28 88 67 111 123 91 100
Tax % 35% 34% 34% 34% 34% 35% 34% 35% 34% 33% 25% 20%
Net Profit 7 21 14 14 22 19 58 44 73 82 68 80
EPS in Rs 3.64 11.38 7.56 7.61 11.77 10.18 31.86 23.85 39.84 45.03 37.12 43.82
Dividend Payout % 28% 11% 17% 17% 11% 16% 5% 10% 6% 7% 8% 9%
Compounded Sales Growth
10 Years:4%
5 Years:-1%
3 Years:-7%
TTM:-27%
Compounded Profit Growth
10 Years:14%
5 Years:8%
3 Years:4%
TTM:15%
Stock Price CAGR
10 Years:22%
5 Years:-3%
3 Years:-23%
1 Year:-5%
Return on Equity
10 Years:21%
5 Years:21%
3 Years:19%
Last Year:17%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
9 9 9 9 9 12 12 15 15 18 18 18
Reserves 47 65 76 86 105 114 169 210 277 349 412 487
Borrowings 18 32 25 23 29 32 0 0 0 0 0 0
41 42 58 65 78 48 50 55 60 57 53 68
Total Liabilities 115 148 168 184 221 206 231 279 351 424 484 573
72 86 83 85 96 86 79 96 111 139 159 138
CWIP 3 21 29 43 7 1 2 76 64 48 26 20
Investments 0 0 0 0 49 77 88 46 108 163 226 287
40 41 56 56 69 42 62 61 69 74 73 128
Total Assets 115 148 168 184 221 206 231 279 351 424 484 573

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
9 33 19 17 28 20 60 53 63 61 79 1
-6 -36 -5 -18 -27 -13 -4 -50 -61 -57 -72 10
-0 9 -12 -7 0 -3 -32 -4 -5 -5 -7 -6
Net Cash Flow 2 6 2 -8 1 4 24 -1 -4 -2 -0 6

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 17% 38% 22% 20% 29% 22% 55% 33% 42% 37% 23% 21%
Debtor Days 0 1 0 0 0 0 0 0 1 2 1 1
Inventory Turnover 10.76 9.79 12.63 14.59 11.47 8.47 7.85 12.98 14.27 11.10 10.32 9.54

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43
2.43 2.38 2.20 1.98 1.85 1.45 1.45 1.44 1.76 1.44 1.46 1.63
0.31 0.30 0.47 0.09 0.07 0.11 0.17 0.07 0.18 0.00 0.00 0.00
22.83 22.89 22.90 23.50 23.65 24.01 23.95 24.06 23.63 24.13 24.11 23.94

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