Associated Alcohols & Breweries Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: June 11, 2025, 12:34 am

Market Cap	2,120 Cr.
Current Price	1,105
High / Low	1,496/607
Stock P/E	26.0
Book Value	271
Dividend Yield	0.18 %
ROCE	20.0 %
ROE	17.3 %
Face Value	10.0
PEG Ratio	4.49

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Associated Alcohols & Breweries Ltd

Competitors of Associated Alcohols & Breweries Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
United Spirits Ltd	94,875 Cr.	1,305	1,314/866	66.8	97.9	0.69 %	28.7 %	21.7 %	2.00
United Breweries Ltd	54,660 Cr.	2,067	2,300/1,810	119	165	0.48 %	13.9 %	10.8 %	1.00
Tilaknagar Industries Ltd	6,981 Cr.	360	457/200	30.4	45.6	0.14 %	28.4 %	29.9 %	10.0
Som Distilleries & Breweries Ltd	2,973 Cr.	153	163/95.6	31.0	38.3	0.00 %	18.0 %	14.6 %	2.00
Radico Khaitan Ltd	35,525 Cr.	2,655	2,790/1,628	103	201	0.15 %	16.2 %	13.6 %	2.00
Industry Average	20,248.50 Cr	1,025.60		55.19	231.78	0.30%	16.71%	13.86%	6.70

All Competitor Stocks of Associated Alcohols & Breweries Ltd

Quarterly Result

Metric	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Sales	148	184	147	185	185	156	170	191	242	252	255	327	242
Expenses	129	164	136	168	170	138	151	171	224	224	230	287	207
Operating Profit	19	20	11	17	15	18	19	20	18	28	25	40	35
OPM %	13%	11%	7%	9%	8%	12%	11%	11%	8%	11%	10%	12%	15%
Other Income	5	2	3	2	2	2	2	2	3	1	1	1	1
Interest	0	0	0	0	1	1	0	1	2	2	1	1	1
Depreciation	4	4	4	4	3	3	3	3	4	4	4	4	5
Profit before tax	20	18	10	15	13	17	18	18	16	24	21	35	30
Tax %	24%	26%	25%	26%	24%	26%	25%	29%	23%	26%	27%	26%	25%
Net Profit	15	13	8	11	10	12	13	13	12	18	15	26	22
EPS in Rs	8.38	7.42	4.17	5.98	5.42	6.83	7.44	6.95	6.78	9.80	8.47	13.60	11.64

Last Updated: May 31, 2025, 9:46 am

Below is a detailed analysis of the quarterly data for Associated Alcohols & Breweries Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Sales, as of Mar 2025, the value is 242.00 Cr.. The value appears to be declining and may need further review. It has decreased from 327.00 Cr. (Dec 2024) to 242.00 Cr., marking a decrease of 85.00 Cr..
For Expenses, as of Mar 2025, the value is 207.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 287.00 Cr. (Dec 2024) to 207.00 Cr., marking a decrease of 80.00 Cr..
For Operating Profit, as of Mar 2025, the value is 35.00 Cr.. The value appears to be declining and may need further review. It has decreased from 40.00 Cr. (Dec 2024) to 35.00 Cr., marking a decrease of 5.00 Cr..
For OPM %, as of Mar 2025, the value is 15.00%. The value appears strong and on an upward trend. It has increased from 12.00% (Dec 2024) to 15.00%, marking an increase of 3.00%.
For Other Income, as of Mar 2025, the value is 1.00 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 1.00 Cr..
For Interest, as of Mar 2025, the value is 1.00 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 1.00 Cr..
For Depreciation, as of Mar 2025, the value is 5.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 4.00 Cr. (Dec 2024) to 5.00 Cr., marking an increase of 1.00 Cr..
For Profit before tax, as of Mar 2025, the value is 30.00 Cr.. The value appears to be declining and may need further review. It has decreased from 35.00 Cr. (Dec 2024) to 30.00 Cr., marking a decrease of 5.00 Cr..
For Tax %, as of Mar 2025, the value is 25.00%. The value appears to be improving (decreasing) as expected. It has decreased from 26.00% (Dec 2024) to 25.00%, marking a decrease of 1.00%.
For Net Profit, as of Mar 2025, the value is 22.00 Cr.. The value appears to be declining and may need further review. It has decreased from 26.00 Cr. (Dec 2024) to 22.00 Cr., marking a decrease of 4.00 Cr..
For EPS in Rs, as of Mar 2025, the value is 11.64. The value appears to be declining and may need further review. It has decreased from 13.60 (Dec 2024) to 11.64, marking a decrease of 1.96.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 15, 2025, 7:13 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	213	298	288	291	324	399	523	436	513	701	759	1,076
Expenses	195	268	249	250	272	341	445	346	431	638	683	948
Operating Profit	18	31	38	41	52	58	78	89	82	63	77	128
OPM %	9%	10%	13%	14%	16%	14%	15%	21%	16%	9%	10%	12%
Other Income	5	4	1	2	2	4	2	5	14	8	10	5
Interest	7	7	5	4	4	2	2	1	1	1	4	6
Depreciation	7	10	10	11	11	12	14	14	14	14	14	17
Profit before tax	10	18	23	27	39	47	64	78	81	55	68	110
Tax %	40%	33%	38%	38%	36%	36%	23%	26%	25%	25%	26%	26%
Net Profit	6	12	14	17	25	30	49	58	61	42	51	81
EPS in Rs	3.23	6.82	7.90	9.35	13.93	16.74	27.29	32.06	33.64	22.99	28.00	42.47
Dividend Payout %	-0%	4%	6%	11%	7%	6%	4%	3%	3%	4%	7%	4%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	100.00%	16.67%	21.43%	47.06%	20.00%	63.33%	18.37%	5.17%	-31.15%	21.43%	58.82%
Change in YoY Net Profit Growth (%)	0.00%	-83.33%	4.76%	25.63%	-27.06%	43.33%	-44.97%	-13.19%	-36.32%	52.58%	37.39%

Associated Alcohols & Breweries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	14%
5 Years:	16%
3 Years:	28%
TTM:	42%

Compounded Profit Growth
10 Years:	22%
5 Years:	10%
3 Years:	11%
TTM:	61%

Stock Price CAGR
10 Years:	41%
5 Years:	38%
3 Years:	33%
1 Year:	78%

Return on Equity
10 Years:	19%
5 Years:	17%
3 Years:	14%
Last Year:	17%

Last Updated: Unknown

Balance Sheet

Last Updated: May 13, 2025, 3:51 pm

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	9	9	18	18	18	18	18	18	18	18	18	18
Reserves	48	59	63	79	103	131	177	234	295	345	405	502
Borrowings	92	45	39	32	21	28	11	11	5	100	108	102
Other Liabilities	42	57	51	41	59	67	67	67	82	75	88	96
Total Liabilities	191	170	170	169	201	244	274	330	400	538	619	718
Fixed Assets	98	93	93	86	80	116	110	111	113	110	252	351
CWIP	0	2	2	5	23	2	11	9	24	110	63	32
Investments	4	3	2	2	3	3	2	3	25	60	46	64
Other Assets	89	71	74	76	96	123	151	207	239	257	257	271
Total Assets	191	170	170	169	201	244	274	330	400	538	619	718

Below is a detailed analysis of the balance sheet data for Associated Alcohols & Breweries Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Equity Capital, as of Mar 2025, the value is 18.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 18.00 Cr..
For Reserves, as of Mar 2025, the value is 502.00 Cr.. The value appears strong and on an upward trend. It has increased from 405.00 Cr. (Mar 2024) to 502.00 Cr., marking an increase of 97.00 Cr..
For Borrowings, as of Mar 2025, the value is 102.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 108.00 Cr. (Mar 2024) to 102.00 Cr., marking a decrease of 6.00 Cr..
For Other Liabilities, as of Mar 2025, the value is 96.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 88.00 Cr. (Mar 2024) to 96.00 Cr., marking an increase of 8.00 Cr..
For Total Liabilities, as of Mar 2025, the value is 718.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 619.00 Cr. (Mar 2024) to 718.00 Cr., marking an increase of 99.00 Cr..
For Fixed Assets, as of Mar 2025, the value is 351.00 Cr.. The value appears strong and on an upward trend. It has increased from 252.00 Cr. (Mar 2024) to 351.00 Cr., marking an increase of 99.00 Cr..
For CWIP, as of Mar 2025, the value is 32.00 Cr.. The value appears to be declining and may need further review. It has decreased from 63.00 Cr. (Mar 2024) to 32.00 Cr., marking a decrease of 31.00 Cr..
For Investments, as of Mar 2025, the value is 64.00 Cr.. The value appears strong and on an upward trend. It has increased from 46.00 Cr. (Mar 2024) to 64.00 Cr., marking an increase of 18.00 Cr..
For Other Assets, as of Mar 2025, the value is 271.00 Cr.. The value appears strong and on an upward trend. It has increased from 257.00 Cr. (Mar 2024) to 271.00 Cr., marking an increase of 14.00 Cr..
For Total Assets, as of Mar 2025, the value is 718.00 Cr.. The value appears strong and on an upward trend. It has increased from 619.00 Cr. (Mar 2024) to 718.00 Cr., marking an increase of 99.00 Cr..

Notably, the Reserves (502.00 Cr.) exceed the Borrowings (102.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-13	47	10	25	39	25	58	67	79	7	28	74
Cash from Investing Activity +	-9	-6	-9	-13	-23	-28	-33	-65	-70	-94	-32	-83
Cash from Financing Activity +	28	-47	-7	-12	-16	3	-25	-3	-9	86	13	1
Net Cash Flow	5	-5	-6	-0	-1	-1	1	-1	1	-1	9	-8

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-74.00	-14.00	-1.00	9.00	31.00	30.00	67.00	78.00	77.00	-37.00	-31.00	26.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	20	13	10	15	22	21	28	27	33	17	10	17
Inventory Days	83	72	77	66	80	135	163	110	170	152	146	117
Days Payable	85	42	64	56	47	69	89	68	97	111	45	42
Cash Conversion Cycle	19	43	22	25	55	87	102	69	106	58	111	92
Working Capital Days	12	54	6	23	31	29	42	41	53	26	50	54
ROCE %	9%	13%	17%	25%	26%	32%	31%	35%	34%	28%	15%	15%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	58.45%	58.45%	58.45%	58.45%	58.45%	58.45%	58.67%	59.29%	59.29%	59.29%	59.29%	59.29%
FIIs	1.35%	0.92%	0.80%	4.01%	0.58%	0.55%	0.48%	0.58%	1.20%	1.11%	0.91%	1.20%
DIIs	0.01%	0.02%	0.01%	0.01%	0.01%	0.00%	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%
Public	40.19%	40.62%	40.75%	37.54%	40.96%	41.01%	40.85%	40.04%	39.51%	39.60%	39.79%	39.51%
No. of Shareholders	38,973	37,434	44,085	45,484	43,773	42,069	40,067	38,227	35,943	34,194	33,455	32,914

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	28.00	22.99	33.63	32.06	27.29
Diluted EPS (Rs.)	28.00	22.99	33.63	32.06	27.29
Cash EPS (Rs.)	35.97	30.94	41.53	39.84	35.09
Book Value[Excl.RevalReserv]/Share (Rs.)	233.89	201.01	173.04	139.29	108.01
Book Value[Incl.RevalReserv]/Share (Rs.)	233.89	201.01	173.04	139.29	108.01
Dividend / Share (Rs.)	2.00	1.00	1.00	1.00	1.00
Revenue From Operations / Share (Rs.)	420.26	387.61	283.52	241.01	289.05
PBDIT / Share (Rs.)	47.77	39.43	53.30	52.00	44.19
PBIT / Share (Rs.)	39.80	31.47	45.41	44.22	36.39
PBT / Share (Rs.)	37.77	30.69	44.89	43.41	35.24
Net Profit / Share (Rs.)	28.00	22.98	33.63	32.06	27.29
PBDIT Margin (%)	11.36	10.17	18.80	21.57	15.28
PBIT Margin (%)	9.47	8.11	16.01	18.34	12.59
PBT Margin (%)	8.98	7.91	15.83	18.01	12.19
Net Profit Margin (%)	6.66	5.93	11.86	13.30	9.44
Return on Networth / Equity (%)	11.97	11.43	19.43	23.01	25.26
Return on Capital Employeed (%)	14.84	12.94	25.58	30.54	31.43
Return On Assets (%)	8.18	7.72	15.19	17.57	18.03
Long Term Debt / Equity (X)	0.11	0.18	0.00	0.01	0.02
Total Debt / Equity (X)	0.24	0.26	0.01	0.03	0.02
Asset Turnover Ratio (%)	1.31	1.49	1.40	1.44	2.02
Current Ratio (X)	1.75	2.48	2.44	2.95	2.24
Quick Ratio (X)	0.96	1.62	1.62	2.10	1.34
Inventory Turnover Ratio (X)	4.58	5.12	4.87	3.20	4.81
Dividend Payout Ratio (NP) (%)	3.57	4.35	2.97	3.11	3.46
Dividend Payout Ratio (CP) (%)	2.78	3.23	2.40	2.51	2.69
Earning Retention Ratio (%)	96.43	95.65	97.03	96.89	96.54
Cash Earning Retention Ratio (%)	97.22	96.77	97.60	97.49	97.31
Interest Coverage Ratio (X)	23.52	50.23	103.42	63.99	38.38
Interest Coverage Ratio (Post Tax) (X)	14.78	30.28	66.26	40.45	24.70
Enterprise Value (Cr.)	914.06	616.81	782.57	692.35	268.91
EV / Net Operating Revenue (X)	1.20	0.88	1.53	1.59	0.51
EV / EBITDA (X)	10.58	8.65	8.12	7.36	3.37
MarketCap / Net Operating Revenue (X)	1.12	0.83	1.68	1.75	0.54
Retention Ratios (%)	96.42	95.64	97.02	96.88	96.53
Price / BV (X)	2.01	1.61	2.75	3.03	1.46
Price / Net Operating Revenue (X)	1.12	0.83	1.68	1.75	0.54
EarningsYield	0.05	0.07	0.07	0.07	0.17

After reviewing the key financial ratios for Associated Alcohols & Breweries Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 28.00. This value is within the healthy range. It has increased from 22.99 (Mar 23) to 28.00, marking an increase of 5.01.
For Diluted EPS (Rs.), as of Mar 24, the value is 28.00. This value is within the healthy range. It has increased from 22.99 (Mar 23) to 28.00, marking an increase of 5.01.
For Cash EPS (Rs.), as of Mar 24, the value is 35.97. This value is within the healthy range. It has increased from 30.94 (Mar 23) to 35.97, marking an increase of 5.03.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 233.89. It has increased from 201.01 (Mar 23) to 233.89, marking an increase of 32.88.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 233.89. It has increased from 201.01 (Mar 23) to 233.89, marking an increase of 32.88.
For Dividend / Share (Rs.), as of Mar 24, the value is 2.00. This value is within the healthy range. It has increased from 1.00 (Mar 23) to 2.00, marking an increase of 1.00.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 420.26. It has increased from 387.61 (Mar 23) to 420.26, marking an increase of 32.65.
For PBDIT / Share (Rs.), as of Mar 24, the value is 47.77. This value is within the healthy range. It has increased from 39.43 (Mar 23) to 47.77, marking an increase of 8.34.
For PBIT / Share (Rs.), as of Mar 24, the value is 39.80. This value is within the healthy range. It has increased from 31.47 (Mar 23) to 39.80, marking an increase of 8.33.
For PBT / Share (Rs.), as of Mar 24, the value is 37.77. This value is within the healthy range. It has increased from 30.69 (Mar 23) to 37.77, marking an increase of 7.08.
For Net Profit / Share (Rs.), as of Mar 24, the value is 28.00. This value is within the healthy range. It has increased from 22.98 (Mar 23) to 28.00, marking an increase of 5.02.
For PBDIT Margin (%), as of Mar 24, the value is 11.36. This value is within the healthy range. It has increased from 10.17 (Mar 23) to 11.36, marking an increase of 1.19.
For PBIT Margin (%), as of Mar 24, the value is 9.47. This value is below the healthy minimum of 10. It has increased from 8.11 (Mar 23) to 9.47, marking an increase of 1.36.
For PBT Margin (%), as of Mar 24, the value is 8.98. This value is below the healthy minimum of 10. It has increased from 7.91 (Mar 23) to 8.98, marking an increase of 1.07.
For Net Profit Margin (%), as of Mar 24, the value is 6.66. This value is within the healthy range. It has increased from 5.93 (Mar 23) to 6.66, marking an increase of 0.73.
For Return on Networth / Equity (%), as of Mar 24, the value is 11.97. This value is below the healthy minimum of 15. It has increased from 11.43 (Mar 23) to 11.97, marking an increase of 0.54.
For Return on Capital Employeed (%), as of Mar 24, the value is 14.84. This value is within the healthy range. It has increased from 12.94 (Mar 23) to 14.84, marking an increase of 1.90.
For Return On Assets (%), as of Mar 24, the value is 8.18. This value is within the healthy range. It has increased from 7.72 (Mar 23) to 8.18, marking an increase of 0.46.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.11. This value is below the healthy minimum of 0.2. It has decreased from 0.18 (Mar 23) to 0.11, marking a decrease of 0.07.
For Total Debt / Equity (X), as of Mar 24, the value is 0.24. This value is within the healthy range. It has decreased from 0.26 (Mar 23) to 0.24, marking a decrease of 0.02.
For Asset Turnover Ratio (%), as of Mar 24, the value is 1.31. It has decreased from 1.49 (Mar 23) to 1.31, marking a decrease of 0.18.
For Current Ratio (X), as of Mar 24, the value is 1.75. This value is within the healthy range. It has decreased from 2.48 (Mar 23) to 1.75, marking a decrease of 0.73.
For Quick Ratio (X), as of Mar 24, the value is 0.96. This value is below the healthy minimum of 1. It has decreased from 1.62 (Mar 23) to 0.96, marking a decrease of 0.66.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 4.58. This value is within the healthy range. It has decreased from 5.12 (Mar 23) to 4.58, marking a decrease of 0.54.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 3.57. This value is below the healthy minimum of 20. It has decreased from 4.35 (Mar 23) to 3.57, marking a decrease of 0.78.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 2.78. This value is below the healthy minimum of 20. It has decreased from 3.23 (Mar 23) to 2.78, marking a decrease of 0.45.
For Earning Retention Ratio (%), as of Mar 24, the value is 96.43. This value exceeds the healthy maximum of 70. It has increased from 95.65 (Mar 23) to 96.43, marking an increase of 0.78.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 97.22. This value exceeds the healthy maximum of 70. It has increased from 96.77 (Mar 23) to 97.22, marking an increase of 0.45.
For Interest Coverage Ratio (X), as of Mar 24, the value is 23.52. This value is within the healthy range. It has decreased from 50.23 (Mar 23) to 23.52, marking a decrease of 26.71.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 14.78. This value is within the healthy range. It has decreased from 30.28 (Mar 23) to 14.78, marking a decrease of 15.50.
For Enterprise Value (Cr.), as of Mar 24, the value is 914.06. It has increased from 616.81 (Mar 23) to 914.06, marking an increase of 297.25.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 1.20. This value is within the healthy range. It has increased from 0.88 (Mar 23) to 1.20, marking an increase of 0.32.
For EV / EBITDA (X), as of Mar 24, the value is 10.58. This value is within the healthy range. It has increased from 8.65 (Mar 23) to 10.58, marking an increase of 1.93.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 1.12. This value is within the healthy range. It has increased from 0.83 (Mar 23) to 1.12, marking an increase of 0.29.
For Retention Ratios (%), as of Mar 24, the value is 96.42. This value exceeds the healthy maximum of 70. It has increased from 95.64 (Mar 23) to 96.42, marking an increase of 0.78.
For Price / BV (X), as of Mar 24, the value is 2.01. This value is within the healthy range. It has increased from 1.61 (Mar 23) to 2.01, marking an increase of 0.40.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 1.12. This value is within the healthy range. It has increased from 0.83 (Mar 23) to 1.12, marking an increase of 0.29.
For EarningsYield, as of Mar 24, the value is 0.05. This value is below the healthy minimum of 5. It has decreased from 0.07 (Mar 23) to 0.05, marking a decrease of 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Associated Alcohols & Breweries Ltd as of June 11, 2025 is: 976.92

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of June 11, 2025, Associated Alcohols & Breweries Ltd is Overvalued by 11.59% compared to the current share price 1,105.00

Intrinsic Value of Associated Alcohols & Breweries Ltd as of June 11, 2025 is: 1,033.43

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of June 11, 2025, Associated Alcohols & Breweries Ltd is Overvalued by 6.48% compared to the current share price 1,105.00

Last 5 Year EPS CAGR: 5.78%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 23.33%, which is a positive sign. The company has higher reserves (203.42 cr) compared to borrowings (49.50 cr), indicating strong financial stability. The company has shown consistent growth in sales (395.50 cr) and profit (51.67 cr) over the years.	The stock has a high average Working Capital Days of 35.08, which may not be favorable. The stock has a high average Cash Conversion Cycle of 65.75, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Associated Alcohols & Breweries Ltd:
1. Net Profit Margin: 6.66%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 14.84% (Industry Average ROCE: 16.71%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 11.97% (Industry Average ROE: 13.86%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 14.78
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.96
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 26 (Industry average Stock P/E: 55.19)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.24
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Associated Alcohols & Breweries Ltd. is a Public Limited Listed company incorporated on 07/07/1989 and has its registered office in the State of Madhya Pradesh, India. Company's Corporate Identification Number(CIN) is L15520MP1989PLC049380 and registration number is 047211. Currently Company is involved in the business activities of Manufacture of country liquor. Company's Total Operating Revenue is Rs. 1075.90 Cr. and Equity Capital is Rs. 18.08 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Beverages & Distilleries	4th Floor, BPK Star Tower, Indore Madhya Pradesh 452008	investorrelations@aabl.in http://www.associatedalcohols.com

Management
Name	Position Held
Mr. Prasann Kumar Kedia	Managing Director
Mr. Anshuman Kedia	WholeTime Director & CEO
Mr. Tushar Bhandari	Whole Time Director
Ms. Apurva Pradeep Joshi	Independent Director
Mr. Debashis Das	Independent Director
Dr. Swaraj Kumar Puri	Independent Director

FAQ

What is the intrinsic value of Associated Alcohols & Breweries Ltd?

Associated Alcohols & Breweries Ltd's intrinsic value (as of 11 June 2025) is ₹976.92 — 11.59% lower the current market price of 1,105.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 2,120 Cr. market cap, FY2025-2026 high/low of ₹1,496/607, reserves of 502 Cr, and liabilities of 718 Cr.

What is the Market Cap of Associated Alcohols & Breweries Ltd?

The Market Cap of Associated Alcohols & Breweries Ltd is 2,120 Cr..

What is the current Stock Price of Associated Alcohols & Breweries Ltd as on 11 June 2025?

The current stock price of Associated Alcohols & Breweries Ltd as on 11 June 2025 is 1,105.

What is the High / Low of Associated Alcohols & Breweries Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Associated Alcohols & Breweries Ltd stocks is ₹1,496/607.

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

The Stock P/E of Associated Alcohols & Breweries Ltd is 26.0.

What is the Book Value of Associated Alcohols & Breweries Ltd?

The Book Value of Associated Alcohols & Breweries Ltd is 271.

What is the Dividend Yield of Associated Alcohols & Breweries Ltd?

The Dividend Yield of Associated Alcohols & Breweries Ltd is 0.18 %.

What is the ROCE of Associated Alcohols & Breweries Ltd?

The ROCE of Associated Alcohols & Breweries Ltd is 20.0 %.

What is the ROE of Associated Alcohols & Breweries Ltd?

The ROE of Associated Alcohols & Breweries Ltd is 17.3 %.

What is the Face Value of Associated Alcohols & Breweries Ltd?

The Face Value of Associated Alcohols & Breweries Ltd is 10.0.