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GM Breweries Ltd (GMBREW)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 507488 NSE: GMBREW Breweries & Distilleries | Small Cap | GM Breweries Share Price

₹925.85 -5.90 (-0.63%)

As on 25-Jun'26 16:59

GM Breweries Ltd (GMBREW)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 507488 NSE: GMBREW Breweries & Distilleries | Small Cap | GM Breweries Share Price

₹925.85 -5.90 (-0.63%)

As on 25-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,115 Cr.
Current Price
₹925.9
52-Week Low / High
₹668 / 1,328
TTM EPS
₹68.7
TTM Sales
₹1,735 Cr.
Book Value per Share
₹472
P/E Ratio
13.49
Higher than its 5-year historical median
Industry PE
57.8
Price to Book (P/B)
1.96
Higher than its 5-year historical median
Price to Sales (P/S)
1.22
Higher than its 5-year historical median
EV/EBITDA
9.97
Higher than its 5-year historical median
Dividend Yield
0.97%
Profitability Efficiency
Return on Equity (ROE)
15.55%
Outperforms industry median
Return on Capital Employed (ROCE)
20.40%
Outperforms industry median
Return on Assets (ROA)
13.50%
Operating Profit Margin
10.4%
Net Profit Margin
9.04%
Gross Profit Margin
7.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
18.79%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
40.44%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
21.54%
Asset Quality
Promoter Holding
74.43%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,055 Cr.
Equity
₹22.9 Cr.
Face Value
₹10
All Time Low / High
₹0.82 / 1328.00

GM Breweries stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Semi Strong
Q.1 Is GM Breweries Ltd a good quality company?
GM Breweries Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does GM Breweries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of GM Breweries Ltd vs industry peers?
GM Breweries Ltd revenue CAGR is 19.58%, compared to the industry median CAGR of 15.31%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of GM Breweries Ltd?
Promoters hold 74.43% of the GM Breweries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of GM Breweries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 9.9% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
GM Breweries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 33.1%43.2%37.5%22.8%21.4%21.5%20.7%24.2%18.2%20.4%-
Value Creation
Index
1.42.11.70.60.50.50.50.70.30.5-

Growth Parameters

Sales 7489199829717101,0411,3581,4091,4611,7351,735
Sales YoY Gr.-22.9%6.9%-1.1%-26.9%46.7%30.4%3.8%3.7%18.8%-
Adj EPS 1931.235.8313338.94264.956.265.868.7
YoY Gr.-64.4%14.7%-13.3%6.3%18%8.1%54.5%-13.4%17.2%-
BVPS (₹) 98.3127.5160.6188.4221258.7298.4359.9410.8472472
Adj Net
Profit
43.371.381.770.875.388.896148128150157
Cash Flow from Ops. 52.962.961.378.81.497.59659.3162-95.6-
Debt/CF from Ops. 0000000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 9.8%19.6%8.5%18.8%
Adj EPS 14.8%14.8%16.2%17.2%
BVPS19%16.4%16.5%14.9%
Share Price 8.1% 14.6% 25% 26.9%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
21.427.624.817.816.116.215.119.714.614.914.6
Op. Profit
Mgn %
9.211.711.99.110.69.28.67.68.110.46.1
Net Profit
Mgn %
5.87.88.37.310.68.57.110.58.88.79
Debt to
Equity
00000000000
Working Cap
Days
1113141326231718192810
Cash Conv.
Cycle
10113541-113

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales7489199829717101,0411,3581,4091,4611,735
Operating Expenses + 6798128658876359461,2421,3021,3431,570
Manufacturing Costs12012714914694148198202216233
Material Costs153159162197140184242265260286
Employee Cost 91011119810111213
Other Costs 3965165435333926067928248551,038
Operating Profit 69108117847596116107118165
Operating Profit Margin (%) 9.2%11.7%11.9%8.7%10.6%9.2%8.6%7.6%8.1%9.5%
Other Income + 4101414302921804846
Exceptional Items 0000000000
Interest 0000000010
Depreciation 6677566655
Profit Before Tax 6711112391100118132181160205
Tax 23384123202532303149
Profit After Tax 447382688093100152129157
PAT Margin (%) 5.8%7.9%8.4%7.0%11.3%9.0%7.4%10.8%8.8%9.0%
Adjusted EPS (₹)19.131.936.029.735.140.943.766.356.568.7
Dividend Payout Ratio (%)10.10%6%6.70%8.10%9.10%9.80%11%8.40%13.30%13.10%

Valuation of GM Breweries - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 2252913674305055916828229391,078
Share Capital 15151818181818182323
Reserves 2102773494124875736638049161,055
Debt +0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables55511339211911
Others Liabilities 5055524265747874140136
Total Liabilities 2793514244845736687699171,0981,225

Fixed Assets

Net Fixed Assets +63666762575353505042
Gross Block68768282838488909491
Accumulated Depreciation5101420253035394449
CWIP 76644826202086047
Investments 46108163226287379446526590570
Inventories11121821283237293334
Trade Receivables0121130232
Cash Equivalents 61012272724139512
Others Assets 7691125127173155202291328517
Total Assets 2793514244845736687699171,0981,225

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 536361791979659162-96
PBT 6711112391100118132181160205
Adjustment 9831,1761,2341,2118681,2971,7181,7261,8252,204
Changes in Working Capital 7-6-1412-562611-1975-227
Tax Paid -1,005-1,218-1,282-1,234-910-1,344-1,764-1,829-1,898-2,278
Cash Flow From Investing Activity + -50-61-57-7210-95-87-48-149114
Capex -10-8-242272-37-53-46-19
Net Investments -44-63-47-84-47-119-71-76-151103
Others 410149302220804830
Cash Flow From Financing Activity + -4-5-5-7-6-7-9-11-13-17
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -0-0-0-0-0-0-0-0-1-0
Dividend Paid -3-4-4-5-5-7-9-11-13-17
Others -1-1-1-100000-0
Net Cash Flow -1-4-2-06-50-1-01

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)21.5228.2625.0117.0217.1217.0415.6920.1514.6615.55
ROCE (%)33.1443.1637.4622.7921.4121.5420.6924.1518.2320.4
Asset Turnover Ratio5.325.094.43.712.332.873.242.862.492.56
PAT to CFO Conversion(x)1.20.860.741.160.011.040.960.391.26-0.61
Working Capital Days
Receivable Days0.100.200.300.300.300.400.300.200.300.30
Inventory Days3.202.503.104.207.206.105.404.904.504.10
Payable Days10.2011.3010.7014.5018.505.908.9020.6028.2019.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

GM Breweries Ltd FAQs

The current trading price of GM Breweries on 25-Jun-2026 16:59 is ₹925.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 24-Jun-2026 the market cap of GM Breweries stood at ₹2,115.3 Cr

The latest P/E ratio of GM Breweries as of 24-Jun-2026 is 13.49.

The latest P/B ratio of GM Breweries as of 24-Jun-2026 is 1.96.

The 52-week high of GM Breweries is ₹1,328 and the 52-week low is ₹668.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GM Breweries is ₹1,735 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that GM Breweries Ltd is a good quality company.

The key valuation ratios of GM Breweries Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of GM Breweries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About GM Breweries Ltd

GM Breweries was incorporated in the year December 1981. The company is engaged in the manufacture of alcoholic liquor. It blends and bottles alcoholic liquor and concentrates more on country liquor. It has its manufacturing unit in Thane district of Maharashtra with installed capacities of 82.6 million bulk liters of country liquor and 12.4 million bulk liters of Indian made foreign liquor. The company markets its products brandy, rum and whiskey under brand names Pioneer Doctor Brandy, Pioneer Special Doctor Brandy, Hot Shot Rum and Reporter Choice Whiskey. The company has imported oakwood barrels to mature the whiskey in order to impart the liquor with the correct character, color, strength and distinctive taste.

The company has a major presence in Mumbai, Navi Mumbai and Thane and is the single largest manufacturer of country liquor in Maharashtra. The registered office of the company is located at Ganesh Niwas, S. Veer Savarkar Marg, Prabhadevi, Mumbai-400025.

Milestones:

  • 1981 - The company was incorporated in December.
  • 1993 - 23,24,900 equity held by promoters. - 14,27,100 equity shares of Rs 10 each for cash at a premium of Rs 5 per share allotted to promoters.  6,71,800 sequity shares of Rs 10 each at a premium of Rs 5 per share allotted to NRI's on preferential basis.  49,60,100 equity shares of Rs 10 each at a premium of Rs 5 per share allotted to the Indian public.
  • 1990- The company became public in August. It has substantial market share in the country liquor segment in Mumbai and Maharashtra.
  •  2010 - GM Breweries has informed that the Board of Directors of the Company at its meeting held on January 21, 2010, has appointed Paresh N. Trivedi as an Independent Non Executive additional Director.  - Gm Breweries has informed that the company has appointed Sandeep Kutchhi as a company secretary with effect from September 04, 2009.
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