MarketFriction

Associated Alcohols & Breweries Ltd

NSE ASALCBR · BSE 507526 · Breweries & Distilleries
₹611.10 -0.71%
NSE close2026-10-01
52 week range615.10 - 1,277.00
Market cap₹1,271 Cr.
P/E15.4
Price band 20% Delivery 64.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales170191242252255327242267254260238281
Expenses151171224224230287207230230219198251
Operating Profit192018282540353724424030
OPM %11%11%8%11%10%12%15%14%9%16%17%11%
Other Income223111121213
Interest012211121132
Depreciation334444566777
Profit before tax181816242135303218363224
Tax %25%29%23%26%27%26%25%26%24%23%28%26%
Net Profit131312181526222414272418
EPS in Rs7.446.956.789.808.4714.4312.3513.097.3814.3811.718.92
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2882913243995234365137017591,0751,0201,034
Expenses249250272341445346431638683947877898
Operating Profit384152587889826377128143136
OPM %13%14%16%14%15%21%16%9%10%12%14%13%
Other Income12242514810567
Interest544221114667
Depreciation101111121414141414172426
Profit before tax232739476478815568110118111
Tax %38%38%36%36%23%26%25%25%26%26%25%
Net Profit141725304958614251818883
EPS in Rs7.909.3513.9316.7427.2932.0633.6422.9928.0045.0644.0742.39
Dividend Payout %6%11%7%6%4%3%3%4%7%4%5%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth14%19%13%-5%
Compounded Profit Growth20%9%28%-5%
Stock Price CAGR19%7%11%-33%
Return on Equity18%15%15%15%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital91818181818181818181820
Reserves596379103131177234295345405502675
Borrowings45393221281111510010810269
Other Liabilities575141596767678275889692
Total Liabilities170170169201244274330400538619718856
Fixed Assets93938680116110111113110252351395
CWIP22523211924110633219
Investments322332325604664109
Other Assets71747696123151207239257257271333
Total Assets170170169201244274330400538619718856
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity47102539255867797287452
Cash from Investing Activity-6-9-13-23-28-33-65-70-94-32-83-88
Cash from Financing Activity-47-7-12-163-25-3-98613146
Net Cash Flow-5-6-0-1-11-11-19-810
Free Cash Flow4201424-8425440-86-75-12-0
CFO/OP160%44%86%100%80%101%96%124%34%59%76%52%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days101522212827331710171315
Inventory Days77668013516311017015214611798125
Days Payable6456476989689711145423230
Cash Conversion Cycle2225558710269106581119280110
Working Capital Days-11411162940462435272961
ROCE %17%25%26%32%31%35%34%28%15%14%20%18%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters58.67%59.29%59.29%59.29%59.29%59.29%59.29%59.29%61.22%61.22%62.35%62.35%
FIIs0.48%0.58%1.20%1.11%0.91%1.20%1.06%0.63%0.48%0.32%0.33%0.68%
DIIs0.00%0.10%0.00%0.00%0.00%0.00%0.00%0.03%0.03%0.00%0.94%1.26%
Public40.85%40.04%39.51%39.60%39.79%39.51%39.65%40.05%38.26%38.46%36.37%35.71%
No. of Shareholders40,06738,22735,94334,19433,45532,91436,02038,31639,28844,16042,64340,991

Fundamentals

Market Cap₹ 1,271 Cr.
Current Price₹ 635
Stock P/E15.4
Book Value₹ 346
ROCE18.0 %
ROE14.6 %
Dividend Yield0.32 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-5%
Compounded Profit Growth (TTM)-5%
Standalone figures.
Valuation
Market capRs 1,227 Cr
Enterprise valueRs 1,277 Cr
P/E (TTM)14.83x
Price to book1.77x
Price to sales1.19x
EV / EBITDA8.92x
EV / EBIT10.89x
EV / sales1.24x
Price to cash flow23.70x
Earnings yield6.74%
Dividend yield0.33%
P/E, 3-year average20.96x
P/B, 3-year average2.93x
P/E, 5-year average18.19x
P/B, 5-year average2.62x
Profitability
Operating margin (excl. other income)14.02%
Operating margin (incl. other income)14.61%
EBITDA margin13.85%
Pre-tax margin10.71%
Net profit margin8.01%
Net margin, latest quarter6.38%
ROE14.56%
ROCE17.98%
ROA11.25%
ROE, 3-year average14.90%
ROCE, 3-year average17.49%
ROA, 3-year average10.73%
ROE, 5-year average15.71%
ROCE, 5-year average19.05%
ROA, 5-year average11.54%
ROIC (approx.)11.77%
Tax rate25.21%
Other income / net worth0.86%
Growth
Sales growth (latest year)-5.17%
Profit growth (latest year)8.62%
Sales CAGR, 3 years13.30%
Sales CAGR, 5 years18.54%
Profit CAGR, 3 years28.64%
Profit CAGR, 5 years8.83%
Sales growth QoQ17.76%
Profit growth QoQ-23.78%
Sales growth YoY (latest quarter)5.31%
Profit growth YoY (latest quarter)-24.26%
Per share
EPS (TTM)Rs 41.21
EPS (latest year)Rs 44.07
EPS (latest quarter)Rs 8.92
EPS, 3-year averageRs 39.04
EPS, 5-year averageRs 34.75
Book value per shareRs 345.97
Sales per shareRs 514.75
Cash flow per shareRs 25.78
Free cash flow per shareRs -0.00
Dividend per share (latest year)Rs 2.00
Dividend per share, 3-year averageRs 2.00
Dividend per share, 5-year averageRs 1.60
Dividends
Dividend payout4.54%
Dividend payout, 3-year average5.38%
Dividend payout, 5-year average4.69%
Efficiency
Asset turnover1.19x
Fixed asset turnover2.58x
Inventory turnover4.67x
Inventory days78 days
Debtor days15 days
Debtors turnover24.03x
Creditor days30 days
Cash conversion cycle110 days
Working capital days61 days
Leverage
Total debtRs 69 Cr
Cash and bankRs 19 Cr
Net debtRs 50 Cr
Debt to equity0.10x
Net debt / EBITDA0.35x
Interest coverage18.00x
Current ratio (filing 2026-03-31)2.58x
Quick ratio (filing 2026-03-31)1.33x
Trade payables (filing 2026-03-31)Rs 38 Cr
Owners' fund to total sources81.17%
Debt to assets8.05%
Cash flow
Cash from Operating Activity (latest year)Rs 52 Cr
Cash from Investing Activity (latest year)Rs -88 Cr
Cash from Financing Activity (latest year)Rs 46 Cr
Net Cash Flow (latest year)Rs 10 Cr
Free cash flow (latest year)Rs -0 Cr
FCFE (approx.: FCF + change in debt)Rs -33 Cr
Cash from ops / profit, 5 years0.74x
Sales to cash flow19.70x
Statement figures
Net sales (TTM)Rs 1,034 Cr
Net sales (latest year)Rs 1,020 Cr
Sales (latest quarter)Rs 281 Cr
Operating profit excl. other income (latest year)Rs 143 Cr
Operating profit (latest quarter)Rs 30 Cr
Other income (TTM)Rs 7 Cr
EBITDA (TTM)Rs 143 Cr
PBDT (TTM)Rs 137 Cr
Profit before tax (TTM)Rs 111 Cr
Tax (latest year)Rs 30 Cr
Net profit (TTM)Rs 83 Cr
Net profit (latest year)Rs 88 Cr
Net profit (latest quarter)Rs 18 Cr
Depreciation (TTM)Rs 26 Cr
Depreciation (latest quarter)Rs 7 Cr
Interest (TTM)Rs 7 Cr
Cost of goods sold (latest year)Rs 734 Cr
Total expenditure (latest year)Rs 877 Cr
Total income (latest year)Rs 1,026 Cr
Share capitalRs 20 Cr
ReservesRs 675 Cr
Shareholders' fundsRs 695 Cr
Total assetsRs 856 Cr
Net blockRs 395 Cr
Capital work in progressRs 19 Cr
InvestmentsRs 109 Cr
ReceivablesRs 42 Cr
InventoryRs 157 Cr
Other liabilitiesRs 92 Cr
Shares outstanding (crore)2.01
Ownership
Promoter holding62.35% (+3.06 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 14.8 is at the 26th percentile of its own 9.4-year range (median 18.1, low 9.1, high 51.3).
P/B 1.77 is the lowest in 9.4 years (median 3.30).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodASALCBRNifty 50Difference
1 week-6.1%-2.8% -3.3 pts
1 month-11.9%-6.8% -5.1 pts
3 months-30.2%-7.6% -22.6 pts
6 months-8.2%+0.4% -8.6 pts
1 year-37.9%-9.9% -28.0 pts
2 years-39.0%-13.6% -25.5 pts
3 years+30.3%+14.2% +16.2 pts
5 years+37.5%+27.9% +9.6 pts

Red flags

F-score 4 of 8
lookShare dilution Share count up 11% in a year, 11% in three
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹281 Cr +5.2% vs Jun 2025. Net profit ₹18 Cr -25.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-09Dividend - Rs 2 Per Share
2025-07-25Dividend - Rs 2 Per Share
2024-07-26Annual General Meeting/Dividend - Rs 2 Per Share
2023-07-26Annual General Meeting/Dividend - Re 1 Per Share
2022-07-28Annual General Meeting/Dividend - Re 1 Per Share
2021-08-12 Annual General Meeting/Dividend - Re 1 Per Share
2020-08-27 Annual General Meeting/Dividend - Re 1 Per Share
DateTypeWhat it says
2026-09-17Shareholder meetingVoting results of Annual General Meeting held on August 02, 2025
2026-09-16Shareholder meetingProceedings of Annual General Meeting held on September 16, 2026
2026-09-08Concall / analyst meetSchedule of meet
2026-08-20UpdatesSubmission of letter containing weblink of Annual Report 2025-26 to shareholders pursuant to Regulation 36(1)(b) of SEBI(LODR) Regulations 2015.
2026-08-19UpdatesLetter containing weblink of 37th Annual Report 2025-26 .
2026-08-19Record DateRecord date for the purpose of Dividend is 09-Sep-2026.
2026-08-19Shareholder meetingNotice of 37th Annual General meeting
2026-08-17General UpdatesAdditional allocation of ethanol
2026-08-12General UpdatesStay on FSSAI order by Honble High Court of Madhya Pradesh, Indore
2026-07-30General UpdatesCommunication from FSSAI
2026-07-30Concall / analyst meetTranscript
2026-07-27Concall / analyst meetLink of Recording
2026-07-26Investor PresentationInvestor Presentation
2026-07-24Utilisation of FundsUtilisation of Funds
2026-07-24Board meeting outcomeAssociated Alcohols & Breweries Ltd. has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-21Concall / analyst meetSchedule of meet
2026-06-26Press ReleaseA press release dated Jun 26, 2026, titled "Press Release regarding launch of new product".
2026-06-16Concall / analyst meetSchedule of meet
2026-06-11UpdatesReceipt Of Best Employer Brand Award 2026.
2026-06-09Concall / analyst meetSchedule of meet
2026-06-02Disclosure under SEBI TakeovAssociated Alcohols & Breweries Ltd. has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of...
2026-05-23Concall / analyst meetTranscript
2026-05-20Concall / analyst meetLink of Recording
2026-05-20Investor PresentationInvestor Presentation
2026-05-18Utilisation of FundsUtilisation of Funds
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Associated Alcohols & Breweries Ltd?

Associated Alcohols & Breweries Ltd (ASALCBR) has a market capitalisation of Rs 1,271 Cr. at the 2026-10-01 close.

What is the P/E ratio of Associated Alcohols & Breweries Ltd?

Associated Alcohols & Breweries Ltd trades at a P/E of 15.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were Associated Alcohols & Breweries Ltd's latest quarterly results?

In the Jun 2026 quarter, Associated Alcohols & Breweries Ltd sales was Rs 281 Cr (+5.2% vs Jun 2025) and net profit was Rs 18 Cr.

What is the 52-week high and low of Associated Alcohols & Breweries Ltd?

The 52-week high is Rs 1,277.00 and the 52-week low is Rs 615.10.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03