G M Breweries Ltd Share Price – NSE  /  BSE

Alcoholic Beverages, Small Cap

G M Breweries announced that the 41th Annual General Meeting (AGM) of the company will be held on 16 May 2024.

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G M Breweries announced that the Board of Directors of the Company at its meeting held on 4 April 2024, has recommended a Final dividend of Rs.7 per share (i.e.70%), subject to the approval of the shareholders.

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Revenue from operations (excluding excise duty) grew by 2.49% year on year to Rs 159.85 crore in the quarter ended 31 March 2024.

Profit before tax stood at Rs 94.51 crore during the quarter, zoomed 109.7% as compared to Rs 45.07 crore posted in Q4 FY23.

On full year basis, the company's net profit climbed 51.72% to Rs 151.52 crore on 3.66% increase in revenue to Rs 615.23 crore in FY24 over FY23.

Meanwhile, the firm’s board has proposed a dividend of Rs 7 per equity share for the year ended 31 March 2024.

Subsequently, the company’s board has recommended a bonus issue in proportion of 1:4 (one new fully paid bonus equity share of Rs 10 each for every four existing fully paid equity shares of Rs 10 each held as on record date. The bonus issue will be subject to approval by members of the company.

The bonus equity shares will be issued out of free reserves created out of profits available as on 31 March 2024. A total sum of Rs 4.56 crore would be capitalized from balance of free reserves for implementation of this bonus issue. The total free reserves with the company as on 31 March 2024 were Rs 804.03 crore.

The said bonus shares would be credited/dispatched within 2 months from the date of proposal of board, which is 3 June 2024.

G M Breweries is engaged in the activities of manufacturing and marketing of alcoholic beverages such as country liquor (CL) and Indian made foreign liquor (IMFL). The company is the largest manufacturer of country liquor in the state of Maharashtra with a sizeable market share.

The scrip slipped 5.78% to Rs 736.40 on the BSE.

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Net profit of G M Breweries rose 146.84% to Rs 86.64 crore in the quarter ended March 2024 as against Rs 35.10 crore during the previous quarter ended March 2023. Sales rose 2.49% to Rs 159.85 crore in the quarter ended March 2024 as against Rs 155.97 crore during the previous quarter ended March 2023.

For the full year,net profit rose 51.72% to Rs 151.52 crore in the year ended March 2024 as against Rs 99.87 crore during the previous year ended March 2023. Sales rose 3.66% to Rs 615.23 crore in the year ended March 2024 as against Rs 593.51 crore during the previous year ended March 2023.

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