Associated Alcohols & Breweries (ASALCBR) had a P/E of 13.1× on 6 Nov 2026, below the industry P/E of 31.3×, and the shares are 48% below their 52-week high. It earns ROCE of 17% and ROE of 15%, and sales and net profit grew 13% and 29% a year over 3 years. It has almost no debt, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹1,123 Cr, ranked 10th of 19 Beverages (Wineries & Distilleries) companies by market cap; the shares fell 51% over the past year.
- ₹579.30
- ₹579.30
- ₹552.45
- ₹579.30
- 19.7K
Health check
- ReturnsBehind
−51.5% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 13.1 vs industry 31.3.
- GrowthSteady
Sales +13.0%, profit +28.6% a year over 3 years.
- ProfitabilityAverage
ROCE 16.9% vs peer median 24.0%.
- Balance sheetFair
Debt 0.10× equity, interest covered 23.2×, Piotroski 5 of 9.
- Red flags2 to check
Quarterly profit down 24.6% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,123 Cr
- Small cap
- P/E
- 13.1
- Industry 31.3
- Price to book
- 1.53
- Peers 8.68
- Dividend yield
- 0.36%
- ROE
- 14.6%
- Peers 15.4%
- ROCE
- 16.9%
- Peers 24.0%
- Debt to equity
- 0.10
- Debt ₹69 Cr
- EPS (TTM)
- ₹42.67
- Face value ₹10
- OPM (TTM)
- 13.1%
- Net margin 8.0%
- Sales growth
- +5.3%
- Latest quarter vs a year ago
- Profit growth
- −24.6%
- Latest quarter vs a year ago
- Price to sales
- 1.09
- EV/EBITDA 8.5
Strengths and risks
Strengths
- Practically debt-free.
- P/E of 13.1 against an industry P/E of 31.3.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 24.6% on a year ago.
- 48% below its 52-week high.
About Associated Alcohols & Breweries
Associated Alcohols & Breweries Limited engages in liquor manufacturing, distillation, and bottling activities in India and internationally. It operates through two segments, Potable Alcohols and Ethanol. The company offers extra neutral alcohol, grain-based ethanol, and malt spirit manufacturing, as well as Indian Made Indian Liquor and Indian Made Foreign Liquor. It also provides beers, spirits, wine, whisky, vodka, rum, gin, tequila, brandy, and other…
- Headquarters
- Indore
- Employees
- 654
- Sector
- Consumer Defensive
- ISIN
- INE073G01016
- Website
- associatedalcohols.com
Price range
- Avg volume (3M)
- 31.6K
- 1-year return
- minus 51.5%
- From 52-week high
- minus 47.6%
Peers · Beverages - Wineries & Distilleries
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| UNITDSPRUnited Spirits | 1,418.00 | plus 1.69% | 1,00,686 | 59.8 | 11.11 | 25.5% | 19.2% | 17.8% | 5.6% | 17.4% | 1.20% | minus 3.9% |
| RADICORadico Khaitan | 4,515.20 | minus 0.22% | 60,499 | 75.9 | 16.49 | 24.0% | 24.0% | 19.4% | 24.6% | 40.0% | 0.20% | plus 41.4% |
| ABDLAllied Blenders and Distillers | 708.00 | plus 1.28% | 19,803 | 86.8 | 12.05 | 24.6% | 13.3% | 13.5% | 7.4% | 422.4% | 0.76% | plus 4.0% |
| TITilaknagar Industries | 485.50 | minus 0.32% | 12,035 | – | 3.98 | – | −2.7% | 15.7% | – | – | 0.21% | minus 3.4% |
| PICCADILPiccadily Agro Industries | 582.30 | minus 1.20% | 5,740 | 40.6 | 6.25 | 20.0% | 17.4% | 13.4% | 19.5% | 83.3% | 0.17% | minus 14.5% |
| IGLSPIRITSIGL Spirits | 852.28 | minus 4.25% | 5,713 | 95.9 | – | – | – | 0.0% | – | – | 0.00% | minus 7.5% |
| GLOBUSSPRGlobus Spirits | 693.25 | minus 0.93% | 2,181 | 22.0 | 1.62 | 12.4% | 7.9% | 10.0% | 8.7% | −9.1% | 0.94% | minus 38.4% |
| ASALCBRAssociated Alcohols & Breweries | 559.10 | minus 3.49% | 1,123 | 13.1 | 1.53 | 16.9% | 14.6% | 13.1% | 13.0% | 28.6% | 0.36% | minus 51.5% |
| Median of 7 peers | – | −0.32% | 12,035 | 67.9 | 8.68 | 24.0% | 15.4% | 13.5% | 8.7% | 40.0% | 0.21% | −3.9% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 267 | 254 | 260 | 238 | 281 | |
| 230 | 230 | 219 | 198 | 251 | |
| 37.1 | 24 | 41.5 | 40.3 | 29.9 | |
| 13.9% | 9.5% | 15.9% | 16.9% | 10.6% | |
| 1.8 | 1 | 1.8 | 1.4 | 3.1 | |
| 1.6 | 1 | 1 | 2.7 | 1.8 | |
| 5.6 | 5.7 | 6.6 | 6.6 | 7.1 | |
| 31.8 | 18.4 | 35.6 | 32.4 | 24.1 | |
| 25.6% | 24.0% | 23.4% | 27.5% | 25.9% | |
| 23.6 | 14 | 27.3 | 23.5 | 17.8 | |
| 12.42 | 7.48 | 14.06 | 12.25 | 8.88 |
Profit & loss
- Sales CAGR 3Y
- +13.0%
- Profit CAGR 3Y
- +28.6%
- EPS CAGR 3Y
- +25.9%
- ROE
- 14.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 698 | 755 | 1,063 | 1,008 | |
| – | +8.2% | +40.7% | minus 5.2% | |
| 635 | 678 | 934 | 864 | |
| 63.3 | 77.3 | 128 | 143 | |
| 9.1% | 10.2% | 12.1% | 14.2% | |
| 7.1 | 5.2 | 1.8 | 3.1 | |
| 1 | 2.3 | 5 | 5.3 | |
| 14.4 | 14.4 | 17.4 | 24.5 | |
| 0.4 | 2.5 | 1.8 | 1.6 | |
| 55.5 | 68.3 | 110 | 118 | |
| 25.1% | 25.9% | 25.7% | 25.2% | |
| 41.6 | 50.6 | 81.4 | 88.5 | |
| – | +21.8% | +60.8% | +8.6% | |
| 22.99 | 28.00 | 43.03 | 45.92 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 18.1 | 18.1 | 18.1 | 20.1 | |
| 345 | 405 | 502 | 675 | |
| 100 | 108 | 102 | 68.9 | |
| 74.5 | 87.9 | 95.9 | 92.3 | |
| 538 | 619 | 718 | 856 | |
| 221 | 315 | 394 | 418 | |
| 110 | 63.3 | 43.6 | 23.1 | |
| 45.8 | 48.1 | 64.3 | 100 | |
| 63.1 | 24.6 | 1.2 | 19.3 | |
| 97.7 | 167 | 214 | 295 | |
| 538 | 619 | 718 | 856 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 6.8 | 28.4 | 73.9 | 51.8 | |
| −94.2 | −32.5 | −83.1 | −87.9 | |
| 86.3 | 12.7 | 0.9 | 45.8 | |
| −1.2 | 8.6 | −8.2 | 9.6 | |
| −92.9 | −104 | −86 | −57.2 | |
| −86.1 | −75.7 | −12.1 | −5.5 | |
| −1.8 | −1.8 | −3.6 | −3.6 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 0.1% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.