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

Q: What is the current share price and 52-week range of Associated Alcohols & Breweries Ltd?

Associated Alcohols & Breweries Ltd is trading at 722.00 as of 21 April 2026, with a FY2026-2027 high of 1,446 and low of 661. The stock is currently near its 52-week low. Market cap stands at 1,449 Cr..

Q: Is Associated Alcohols & Breweries Ltd financially healthy?

Key indicators: ROCE of 20.0 % indicates efficient capital utilization. Dividend yield is 0.28 %.

Fair Value

₹711.90Fairly Valued by 1.40%vs CMP ₹722.00

P/E (16.6) × ROE (17.3%) × BV (₹309.00) × DY (0.28%)

₹516.37Overvalued by 28.48%vs CMP ₹722.00

MoS: -39.8% (Negative)Confidence: 61/100 (Moderate)Models: 1 Under, 1 Fair, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹761.79	20%	Fair (+5.5%)
Graham Number	Earnings	₹572.85	14%	Over (-20.7%)
Earnings Power	Earnings	₹188.93	12%	Over (-73.8%)
DCF	Cash Flow	₹600.73	12%	Over (-16.8%)
Net Asset Value	Assets	₹292.49	6%	Over (-59.5%)
EV/EBITDA	Enterprise	₹540.63	8%	Over (-25.1%)
Dividend Discount	Dividends	₹21.44	8%	Over (-97%)
Earnings Yield	Earnings	₹472.00	6%	Over (-34.6%)
ROCE Capital	Returns	₹839.49	8%	Under (+16.3%)
Revenue Multiple	Revenue	₹535.65	5%	Over (-25.8%)
Consensus (10 models)		₹516.37	100%	Overvalued

Key Drivers: Wide model spread (₹21–₹839) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 7.0%

*Investments are subject to market risks

Analyst Summary

Associated Alcohols & Breweries Ltd operates in the Beverages & Distilleries segment, current market price is ₹722.00, market cap is 1,449 Cr.. At a glance, stock P/E is 16.6, ROE is 17.3 %, ROCE is 20.0 %, book value is 309, dividend yield is 0.28 %. The latest intrinsic value estimate is ₹516.37, around 28.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹1,075 Cr versus the prior period change of 41.6%, while latest net profit is about ₹81 Cr with a prior-period change of 58.8%. This analysis page also carries profit and loss, shareholding pattern, ratio panels, mutual fund holdings data, which improves the depth of the template beyond a thin price-only snapshot. The 52-week range shown on this page is 1,446/661, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisAssociated 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. Curre…

This summary is generated from the stock page data available for Associated Alcohols & Breweries Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Associated Alcohols & Breweries Ltd scores 71/100 (Strong)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health81/100 · Strong

ROCE 20.0% GoodROE 17.3% GoodD/E 0.03 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money60/100 · Moderate

FII holding stable No changePromoter increased by 1.13% Positive

Earnings Quality50/100 · Moderate

OPM stable around 11% Steady

Quarterly Momentum68/100 · Strong

Revenue (4Q): -5% YoY FlatProfit (4Q): +23% YoY PositiveOPM: 16.0% (up 4.0% YoY) Margin expansion

Industry Rank100/100 · Strong

P/E 16.6 vs industry 26.7 Cheaper than peersROCE 20.0% vs industry 15.5% Above peersROE 17.3% vs industry 13.4% Above peers3Y sales CAGR: 28% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:38 am

Market Cap	1,449 Cr.
Current Price	722
Intrinsic Value	₹516.37
High / Low	1,446/661
Stock P/E	16.6
Book Value	309
Dividend Yield	0.28 %
ROCE	20.0 %
ROE	17.3 %
Face Value	10.0
PEG Ratio	2.37

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

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Associated Alcohols & Breweries Ltd	1,449 Cr.	722	1,446/661	16.6	309	0.28 %	20.0 %	17.3 %	10.0
Som Distilleries & Breweries Ltd	1,437 Cr.	69.1	173/61.8	16.2	39.9	0.00 %	18.0 %	16.2 %	2.00
IFB Agro Industries Ltd	676 Cr.	721	1,795/440	14.1	699	0.00 %	6.24 %	3.82 %	10.0
G M Breweries Ltd	2,396 Cr.	1,049	1,329/591	14.7	431	0.72 %	18.1 %	14.6 %	10.0
Globus Spirits Ltd	2,479 Cr.	853	1,304/797	31.2	358	0.32 %	5.80 %	2.54 %	10.0
Industry Average	6,879.63 Cr	832.51		26.65	278.69	0.21%	15.54%	13.43%	8.00

All Competitor Stocks of Associated Alcohols & Breweries Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	185	185	156	170	191	242	252	255	327	242	267	254	260
Expenses	168	170	138	151	171	224	224	230	287	207	230	230	219
Operating Profit	17	15	18	19	20	18	28	25	40	35	37	24	42
OPM %	9%	8%	12%	11%	11%	8%	11%	10%	12%	15%	14%	9%	16%
Other Income	2	2	2	2	2	3	1	1	1	1	2	1	2
Interest	0	1	1	0	1	2	2	1	1	1	2	1	1
Depreciation	4	3	3	3	3	4	4	4	4	5	6	6	7
Profit before tax	15	13	17	18	18	16	24	21	35	30	32	18	36
Tax %	26%	24%	26%	25%	29%	23%	26%	27%	26%	25%	26%	24%	23%
Net Profit	11	10	12	13	13	12	18	15	26	22	24	14	27
EPS in Rs	5.98	5.42	6.83	7.44	6.95	6.78	9.80	8.47	14.43	12.35	13.09	7.38	14.38

Last Updated: February 6, 2026, 3:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 10:46 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	TTM
Sales	213	298	288	291	324	399	523	436	513	701	759	1,075	1,023
Expenses	195	268	249	250	272	341	445	346	431	638	683	947	885
Operating Profit	18	31	38	41	52	58	78	89	82	63	77	128	138
OPM %	9%	10%	13%	14%	16%	14%	15%	21%	16%	9%	10%	12%	14%
Other Income	5	4	1	2	2	4	2	5	14	8	10	5	6
Interest	7	7	5	4	4	2	2	1	1	1	4	6	5
Depreciation	7	10	10	11	11	12	14	14	14	14	14	17	23
Profit before tax	10	18	23	27	39	47	64	78	81	55	68	110	116
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	87
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	45.06	47.20
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:	28%

Compounded Profit Growth
10 Years:	22%
5 Years:	10%
3 Years:	11%
TTM:	56%

Stock Price CAGR
10 Years:	36%
5 Years:	31%
3 Years:	31%
1 Year:	10%

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

Last Updated: September 4, 2025, 11:55 pm

Balance Sheet

Last Updated: December 4, 2025, 12:59 am

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	Sep 2025
Equity Capital	9	9	18	18	18	18	18	18	18	18	18	18	19
Reserves	48	59	63	79	103	131	177	234	295	345	405	502	568
Borrowings	92	45	39	32	21	28	11	11	5	100	108	102	75
Other Liabilities	42	57	51	41	59	67	67	67	82	75	88	96	114
Total Liabilities	191	170	170	169	201	244	274	330	400	538	619	718	776
Fixed Assets	98	93	93	86	80	116	110	111	113	110	252	351	338
CWIP	0	2	2	5	23	2	11	9	24	110	63	32	67
Investments	4	3	2	2	3	3	2	3	25	60	46	64	97
Other Assets	89	71	74	76	96	123	151	207	239	257	257	271	274
Total Assets	191	170	170	169	201	244	274	330	400	538	619	718	776

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	-22	42	0	14	24	-8	42	54	40	-86	-75	-12
CFO/OP	-65%	160%	44%	86%	100%	80%	101%	96%	124%	34%	59%	76%

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 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	13	10	15	22	21	28	27	33	17	10	17	13
Inventory Days	72	77	66	80	135	163	110	170	152	146	117	98
Days Payable	42	64	56	47	69	89	68	97	111	45	42	32
Cash Conversion Cycle	43	22	25	55	87	102	69	106	58	111	92	80
Working Capital Days	16	-11	4	11	16	29	40	46	24	35	27	29
ROCE %	13%	17%	25%	26%	32%	31%	35%	34%	28%	15%	14%	20%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	58.45%	58.67%	59.29%	59.29%	59.29%	59.29%	59.29%	59.29%	59.29%	61.22%	61.22%	62.35%
FIIs	0.55%	0.48%	0.58%	1.20%	1.11%	0.91%	1.20%	1.06%	0.63%	0.48%	0.32%	0.30%
DIIs	0.00%	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.03%	0.00%	0.07%
Public	41.01%	40.85%	40.04%	39.51%	39.60%	39.79%	39.51%	39.65%	40.05%	38.26%	38.46%	37.26%
No. of Shareholders	42,069	40,067	38,227	35,943	34,194	33,455	32,914	36,020	38,316	39,288	44,160	42,958

Shareholding Pattern Chart

No. of Shareholders

Associated Alcohols & Breweries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Taurus ELSS Tax Saver Fund	5,252	0.64	0.49	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	45.06	28.00	22.99	33.63	32.06
Diluted EPS (Rs.)	43.05	28.00	22.99	33.63	32.06
Cash EPS (Rs.)	54.70	35.97	30.94	41.53	39.84
Book Value[Excl.RevalReserv]/Share (Rs.)	287.79	233.89	201.01	173.04	139.29
Book Value[Incl.RevalReserv]/Share (Rs.)	287.79	233.89	201.01	173.04	139.29
Dividend / Share (Rs.)	2.00	2.00	1.00	1.00	1.00
Revenue From Operations / Share (Rs.)	595.10	420.26	387.61	283.52	241.01
PBDIT / Share (Rs.)	73.45	47.77	39.43	53.30	52.00
PBIT / Share (Rs.)	63.80	39.80	31.47	45.41	44.22
PBT / Share (Rs.)	60.65	37.77	30.69	44.89	43.41
Net Profit / Share (Rs.)	45.06	28.00	22.98	33.63	32.06
PBDIT Margin (%)	12.34	11.36	10.17	18.80	21.57
PBIT Margin (%)	10.72	9.47	8.11	16.01	18.34
PBT Margin (%)	10.19	8.98	7.91	15.83	18.01
Net Profit Margin (%)	7.57	6.66	5.93	11.86	13.30
Return on Networth / Equity (%)	15.65	11.97	11.43	19.43	23.01
Return on Capital Employeed (%)	20.30	14.84	12.94	25.58	30.54
Return On Assets (%)	11.35	8.18	7.72	15.19	17.57
Long Term Debt / Equity (X)	0.05	0.11	0.18	0.00	0.01
Total Debt / Equity (X)	0.18	0.24	0.26	0.01	0.03
Asset Turnover Ratio (%)	1.61	1.31	1.49	1.40	1.44
Current Ratio (X)	1.68	1.75	2.48	2.44	2.95
Quick Ratio (X)	0.76	0.96	1.62	1.62	2.10
Inventory Turnover Ratio (X)	8.92	4.58	5.12	4.87	3.20
Dividend Payout Ratio (NP) (%)	4.43	3.57	4.35	2.97	3.11
Dividend Payout Ratio (CP) (%)	3.65	2.78	3.23	2.40	2.51
Earning Retention Ratio (%)	95.57	96.43	95.65	97.03	96.89
Cash Earning Retention Ratio (%)	96.35	97.22	96.77	97.60	97.49
Interest Coverage Ratio (X)	23.31	23.52	50.23	103.42	63.99
Interest Coverage Ratio (Post Tax) (X)	15.30	14.78	30.28	66.26	40.45
Enterprise Value (Cr.)	2602.95	914.06	616.81	782.57	692.35
EV / Net Operating Revenue (X)	2.42	1.20	0.88	1.53	1.59
EV / EBITDA (X)	19.60	10.58	8.65	8.12	7.36
MarketCap / Net Operating Revenue (X)	2.34	1.12	0.83	1.68	1.75
Retention Ratios (%)	95.56	96.42	95.64	97.02	96.88
Price / BV (X)	4.84	2.01	1.61	2.75	3.03
Price / Net Operating Revenue (X)	2.34	1.12	0.83	1.68	1.75
EarningsYield	0.03	0.05	0.07	0.07	0.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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, Indore Madhya Pradesh 452008	Contact not found

Management
Name	Position Held
Mr. Prasann Kumar Kedia	Managing Director
Mr. Anshuman Kedia	WholeTime Director & CEO
Mr. Tushar Bhandari	WholeTime Director & CFO
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 and is it undervalued?

As of 21 April 2026, Associated Alcohols & Breweries Ltd's intrinsic value is ₹516.37, which is 28.48% lower than the current market price of ₹722.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (17.3 %), book value (₹309), dividend yield (0.28 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Associated Alcohols & Breweries Ltd?

Associated Alcohols & Breweries Ltd is trading at ₹722.00 as of 21 April 2026, with a FY2026-2027 high of ₹1,446 and low of ₹661. The stock is currently near its 52-week low. Market cap stands at ₹1,449 Cr..

How does Associated Alcohols & Breweries Ltd's P/E ratio compare to its industry?

Associated Alcohols & Breweries Ltd has a P/E ratio of 16.6, which is below the industry average of 26.65. This is broadly in line with or below the industry average.

Is Associated Alcohols & Breweries Ltd financially healthy?

Key indicators for Associated Alcohols & Breweries Ltd: ROCE of 20.0 % indicates efficient capital utilization; ROE of 17.3 % shows strong shareholder returns. Dividend yield is 0.28 %.

Is Associated Alcohols & Breweries Ltd profitable and how is the profit trend?

Associated Alcohols & Breweries Ltd reported a net profit of ₹81 Cr in Mar 2025 on revenue of ₹1,075 Cr. Compared to ₹61 Cr in Mar 2022, the net profit shows an improving trend.

Does Associated Alcohols & Breweries Ltd pay dividends?

Associated Alcohols & Breweries Ltd has a dividend yield of 0.28 % at the current price of ₹722.00. The company pays dividends, though the yield is modest.