Som Distilleries & Breweries Ltd

Som Distilleries & Breweries Ltd

₹ 339 4.66%
24 Apr 10:37 a.m.
About

Incorporated in 1993, Som Distilleries & Breweries Ltd. is one of the leading alcoholic beverages manufacturers in India engaged in the manufacturing and sale of Beer and Indian Made Foreign Liquor (IMFL). [1][2]

Key Points

Part of SOM Group
The Co. is the flagship company of Bhopal, Madhya Pradesh based Som Group which is into distillery business, real estate and infrastructure. The group Companies are Som Distilleries Private Limited, Woodpecker Distilleries and Breweries Pvt Ltd, Aryavrat Tollways Pvt Ltd and Aryavrat Projects & Developers Pvt Ltd.[1] SDBL is primarily engaged in production of beer and blending and bottling of IMFL.[2]

  • Market Cap 2,629 Cr.
  • Current Price 339
  • High / Low 390 / 164
  • Stock P/E 31.9
  • Book Value 66.5
  • Dividend Yield 0.08 %
  • ROCE 15.6 %
  • ROE 18.1 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 19.3% CAGR over last 5 years
  • Debtor days have improved from 116 to 64.3 days.

Cons

  • Stock is trading at 4.88 times its book value
  • Company has a low return on equity of 1.40% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
78 108 50 77 89 146 254 147 149 253 385 248 266
82 100 55 73 84 134 220 129 132 224 336 221 235
Operating Profit -4 8 -5 5 6 12 34 17 17 28 49 27 32
OPM % -5% 7% -10% 6% 6% 8% 13% 12% 11% 11% 13% 11% 12%
1 1 1 1 1 0 2 1 3 0 2 0 0
Interest 5 5 4 4 4 4 4 4 3 4 3 3 3
Depreciation 3 4 4 4 4 4 4 4 4 4 4 6 6
Profit before tax -11 0 -13 -2 -1 4 28 10 12 20 43 19 24
Tax % -0% -1,056% 0% 0% 0% -73% 9% 20% 10% 22% 21% 23% 24%
-11 4 -13 -2 -1 6 26 8 11 16 34 15 18
EPS in Rs -1.50 0.50 -1.72 -0.34 -0.15 0.87 3.50 1.13 1.36 2.05 4.36 1.92 2.32
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
245 351 393 460 288 365 807 1,152
209 292 344 416 297 345 705 1,016
Operating Profit 36 59 49 44 -10 20 102 136
OPM % 15% 17% 13% 10% -3% 5% 13% 12%
3 2 3 4 3 -0 1 3
Interest 11 9 12 15 19 15 16 12
Depreciation 4 4 9 12 13 17 17 20
Profit before tax 24 47 32 21 -39 -13 70 106
Tax % 40% 47% 38% 28% 2% 22% 14%
14 25 20 15 -38 -10 60 82
EPS in Rs 2.28 4.07 2.70 2.05 -5.19 -1.34 7.80 10.65
Dividend Payout % 29% 16% 25% 0% 0% 0% 3%
Compounded Sales Growth
10 Years: %
5 Years: 18%
3 Years: 21%
TTM: 66%
Compounded Profit Growth
10 Years: %
5 Years: 19%
3 Years: 59%
TTM: 62%
Stock Price CAGR
10 Years: 11%
5 Years: 32%
3 Years: 122%
1 Year: 93%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 1%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 28 28 32 32 32 35 37 39
Reserves 113 134 278 287 249 255 338 476
74 91 169 222 208 197 242 159
90 115 207 215 222 212 294 254
Total Liabilities 305 366 687 757 712 699 912 928
68 78 207 272 414 406 391 463
CWIP 21 94 150 142 2 0 97 41
Investments 0 0 0 0 0 0 0 0
216 194 330 343 295 294 424 424
Total Assets 305 366 687 757 712 699 912 928

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
88 81 4 41 23 9 14
-81 -87 -197 -70 -13 -6 -108
5 0 192 26 -18 -8 97
Net Cash Flow 12 -6 -1 -3 -7 -5 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 74 73 110 103 167 116 64
Inventory Days 137 62 175 156 151 149 102
Days Payable 127 63 116 130 197 122 83
Cash Conversion Cycle 84 72 169 129 121 142 83
Working Capital Days 137 41 71 60 55 52 64
ROCE % 24% 12% 7% -4% 1% 16%

Shareholding Pattern

Numbers in percentages

19 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
24.48% 24.48% 24.48% 29.29% 30.11% 30.41% 32.72% 33.11% 34.46% 34.50% 34.73% 35.26%
0.05% 0.02% 0.11% 0.05% 0.21% 1.18% 1.64% 1.10% 1.08% 0.86% 0.58% 0.77%
1.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.15% 0.47% 0.49% 0.45%
74.46% 75.50% 75.42% 70.66% 69.68% 68.41% 65.64% 65.79% 64.29% 64.17% 64.20% 63.51%
No. of Shareholders 25,02026,85028,13027,65026,62729,30134,59933,47244,31952,64465,75971,938

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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