Associated Alcohols & Breweries Ltd - Stock Valuation and Financial Performance

BSE: 507526 | NSE: ASALCBR | Breweries & Distilleries | Small Cap

Assoc Alcohols &Brew Share Price

932.05 9.20 1.00%
as on 01-Nov'24 18:59

DeciZen - make an informed investing decision on Assoc Alcohols &Brew

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Associated Alcohols & Breweries stock performance -

mw4me loader
P/E Ratio (SA):
29.18
Market Cap:
1,688.6 Cr.
52-wk low:
399
52-wk high:
1,037.7

Is Associated Alcohols & Breweries Ltd an attractive stock to invest in?

1. Is Associated Alcohols & Breweries Ltd a good quality company?

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

2. Is Associated Alcohols & Breweries Ltd undervalued or overvalued?

The key valuation ratios of Associated Alcohols & Breweries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Associated Alcohols & Breweries Ltd a good buy now?

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

10 Year X-Ray of Assoc Alcohols &Brew:

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.
Associated Alcohols & 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

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 19.1%24.4%25.2%32%31%34.5%34.4%28.4%14.7%14.6%-
Value Creation
Index
0.40.70.81.31.21.51.51.00.10.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 298288291324399523436513701760951
Sales YoY Gr.--3.7%1.2%11.4%23%31.1%-16.6%17.6%36.7%8.4%-
Adj EPS 68.19.713.916.727.73233.123.22832
YoY Gr.-35.9%19%42.9%20.6%65.8%15.7%3.3%-29.9%20.6%-
BVPS (₹) 37.444.853.666.882.5108139.3173201227.9250.1
Adj Net
Profit
10.814.717.52530.250.157.959.84250.658
Cash Flow from Ops. 47.49.724.638.924.858.466.779.26.828.4-
Debt/CF from Ops. 141.30.61.20.20.10.1143.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 10.9%13.8%20.4%8.4%
Adj EPS 18.7%10.9%-4.4%20.6%
BVPS22.2%22.5%17.8%13.4%
Share Price 41% 33.7% 16.4% 98.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
17.419.819.72322.429.125.921.212.412.913.4
Op. Profit
Mgn %
10.413.213.916.114.414.220.516910.19.7
Net Profit
Mgn %
3.65.167.77.69.613.311.766.76.1
Debt to
Equity
0.70.50.30.20.20.1000.30.30.1
Working Cap
Days
80809299103891121179810143
Cash Conv.
Cycle
1613243237344031273918

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 20.36%

Sales growth is good in last 4 quarters at 37.35%

Return on Equity has declined versus last 3 years average to 13.40%

Net Profit has been subdued in last 3 years -4.37%

Latest Financials - Associated Alcohols & Breweries Ltd.

Standalone Consolidated
TTM EPS (₹) 32 5.9
TTM Sales (₹ Cr.) 951 292
BVPS (₹.) 250.1 0
Reserves (₹ Cr.) 434 434
P/BV 3.73 0.00
PE 29.18 157.64
From the Market
52 Week Low / High (₹) 399.00 / 1037.70
All Time Low / High (₹) 1.25 / 1037.70
Market Cap (₹ Cr.) 1,689
Equity (₹ Cr.) 18.1
Face Value (₹) 10
Industry PE 78.3

Management X-Ray of Assoc Alcohols &Brew:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of Assoc Alcohols &Brew

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales298288291324399523436513701760
Operating Expenses 268250251273341450346430638683
Manufacturing Costs909580120162188157199329262
Material Costs143118130103126191123155210325
Employee Cost 17171922202425323537
Other Costs 18202328344741456560
Operating Profit 31374052577389826277
Operating Profit Margin (%) 10.3%13.0%13.6%15.9%14.4%14.0%20.5%16.0%8.9%10.1%
Other Income 213347514910
Interest 7544221114
Depreciation 10101111121414141414
Exceptional Items 2000000000
Profit Before Tax 18232739476478815568
Tax 691014171421201418
Profit After Tax 12141725304958614251
PAT Margin (%) 4.1%5.0%5.8%7.8%7.6%9.4%13.3%11.9%5.9%6.7%
Adjusted EPS (₹)6.87.99.413.916.727.332.133.623.028.0
Dividend Payout Ratio (%)4%6%11%7%6%4%3%3%4%7%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 688197121149195252313363412
Share Capital 9181818181818181818
Reserves 596379103131177234295345394
Minority Interest0000000000
Debt38332414226948483
Long Term Debt25188385216750
Short Term Debt13151611151731833
Trade Payables27241720313633472637
Others Liabilities 373238555737565879100
Total Liabilities 170170176210259274349422553633

Fixed Assets

Gross Block13914897101150156171187195351
Accumulated Depreciation45551121334661748498
Net Fixed Assets93938680116110111113110252
CWIP 2252321192411063
Investments 3223323256046
Inventories322929385657586584104
Trade Receivables8121819313939241935
Cash Equivalents 1274452278816241
Others Assets192733444532529110792
Total Assets 170170176210259274349422553633

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 4710253925586779728
PBT 18232739476478815568
Adjustment 14161415121715798
Changes in Working Capital 23-17-6-2-13-2-715-43-31
Tax Paid -2-7-10-13-22-20-19-23-15-17
Cash Flow From Investing Activity -6-9-13-23-28-33-65-70-94-32
Capex -6-9-11-15-33-16-12-39-93-104
Net Investments 0110000-431942
Others 00-3-85-17-5212-2030
Cash Flow From Financing Activity -47-7-12-163-25-3-98613
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -38-8-9-53-6-5-165-7
Interest Paid 00-4-4-2-2-2-1-1-4
Dividend Paid 0-1-1-2-2-2-2-2-2-2
Others -911-53-155-52425
Net Cash Flow -5-60-1-11-11-19
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)19.7719.2419.0223.1422.4228.6525.9321.5412.2913.06
ROCE (%)19.1124.3825.2331.9630.9934.4734.3528.3714.6714.61
Asset Turnover Ratio1.661.691.681.721.762.011.461.331.491.34
PAT to CFO Conversion(x)3.920.711.471.560.831.181.161.30.170.55
Working Capital Days
Receivable Days10131820222431221112
Inventory Days35383637423946443743
Payable Days537958647363101946436

Associated Alcohols & Breweries Ltd Stock News

Associated Alcohols & Breweries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Assoc Alcohols &Brew on 01-Nov-2024 18:59 is ₹932.0.
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 01-Nov-2024 18:59 the market cap of Assoc Alcohols &Brew stood at ₹1,688.6.
The latest P/E ratio of Assoc Alcohols &Brew as of 01-Nov-2024 18:59 is 29.18.
The latest P/B ratio of Assoc Alcohols &Brew as of 01-Nov-2024 18:59 is 3.73.
The 52-week high of Assoc Alcohols &Brew is ₹1,037.7 and the 52-week low is ₹399.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Assoc Alcohols &Brew is ₹950.8 ( Cr.) .

About Associated Alcohols & Breweries Ltd

Associated Alcohols and Breweries (AABL) is one of the largest distilleries in India and the flagship company of the Associated Kedia Group – a Rs. 100 crore liquor conglomerate with interests in liquor manufacturing and bottling. The company was set up by its founder Chairman -- the Late Bhagwati Prasad Kedia. Incorporated in 1989, AABL took over the existing distillery of the promoter group in 1990 and expanded activities into manufacturing of highest grade liquors. Extra Neutral Alcohol is a vital ingredient in the making of an alcoholic beverage. AABL supplies this vital ingredient to many leading manufacturers under a special agreement. In the IMFL segment, the company has an understanding with reputed companies like Diageo (owner of brands like Smirnoff vodka and Johnnie Walker Scotch Whisky), Mason and Summers and Diageo-Radico. These companies buy a total of 55-60% of the total IMFL produced by AABL. The balance production is used for direct supplies to the branded suppliers across the country, apart from manufacturing its own branded products.

AABL's distillery is located in Khodigram, in the Khargone district of Madhya Pradesh. It has a present distillation capacity of 42 MLPA. The distillery is presently undergoing a series of transformations that will result in increasing its expanded capacity to 65 MLPA. AABL supplies Extra Neutral Alcohol (ENA), a vital ingredient, to many leading manufacturers under a special agreement. In the IMFL segment, the company has an understanding with reputed companies like Diageo (owner of brands like Smirnoff vodka and Johnnie Walker Scotch Whisky), Mason & Summers and Diageo-Radico. AABL has for long been recognized as one of the finest suppliers of high quality ENA in the Indian market. The company's relationships with leading international and national brands bear ample proof.

AABL has chalked out a huge greenfield expansion plan to capture domestic and international demand and serve all the segments of alcohol ranging from country liquors to IMFL. This plan includes setting up a multi-pressure ENA plant, a collector plant, a Reverse Osmosis Water Treatment Plant and a 2 MW power plant. AABL is setting up a multi pressure ENA plant. This plant will completely replace the older plant and increase its production capacity from the present 42 MLPA to 65 MLPA. The multi-pressure ENA plant cuts down the stages in the manufacture and thus improves process efficiency.

Business areas of the company:

AABL is engaged in the business of bottling vodka and scotch whisky for large reputed international brands. AABL is also one of the only liquor companies bottling single malt scotch whisky (Glen Drummond) for the leading liquor group Mason & Summers. AABL has a ten line bottling operations in two different sections. It packs about 45,000 cases per month and has a production capacity of around 42 million litres per annum (MLPA).

Brands:

  • London Bridge gin
  • James McGill whisky
  • Red & White whisky
  • Bombay Special whisky
  • Jamaican Magic rum
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