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G M Breweries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹753.44Overvalued by 13.50%vs CMP ₹871.00

P/E (15.8) × ROE (12.5%) × BV (₹472.00) × DY (1.03%)

₹718.48Overvalued by 17.51%vs CMP ₹871.00
MoS: -21.2% (Negative)Confidence: 57/100 (Moderate)Models: 1 Under, 2 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹835.4420%Fair (-4.1%)
Graham NumberEarnings₹853.7914%Fair (-2%)
Earnings PowerEarnings₹543.1912%Over (-37.6%)
DCFCash Flow₹1,182.5012%Under (+35.8%)
Net Asset ValueAssets₹471.596%Over (-45.9%)
EV/EBITDAEnterprise₹650.958%Over (-25.3%)
Dividend DiscountDividends₹220.008%Over (-74.7%)
Earnings YieldEarnings₹686.406%Over (-21.2%)
ROCE CapitalReturns₹773.418%Over (-11.2%)
Revenue MultipleRevenue₹327.235%Over (-62.4%)
Consensus (10 models)₹718.48100%Overvalued
Key Drivers: Wide model spread (₹220–₹1,183) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 10.9%

*Investments are subject to market risks

Analyst Summary

G M Breweries Ltd operates in the Beverages & Distilleries segment, NSE: GMBREW | BSE: 507488, current market price is ₹871.00, market cap is 1,991 Cr.. At a glance, stock P/E is 15.8, ROE is 12.5 %, ROCE is 18.0 %, book value is 472, dividend yield is 1.03 %. The latest intrinsic value estimate is ₹718.48, around 17.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹748 Cr versus the prior period change of 17.4%, while latest net profit is about ₹157 Cr with a prior-period change of 21.7%. The 52-week range shown on this page is 1,329/666, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisG M Breweries Ltd. is a Public Limited Listed company incorporated on 09/12/1981 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L15…

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

Investment Snapshot

75
G M Breweries Ltd scores 75/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health77/100 · Strong
ROCE 18.0% GoodROE 12.5% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.88% (6mo) Slight increasePromoter holding at 74.4% Stable
Earnings Quality75/100 · Strong
OPM expanding (19% → 21%) ImprovingWorking capital: -41 days (improving) Efficient
Quarterly Momentum78/100 · Strong
Revenue (4Q): +14% YoY GrowingProfit (4Q): +4% YoY PositiveOPM: 26.0% (up 8.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 15.8 vs industry 39.4 Cheaper than peersROCE 18.0% vs industry 14.2% Above peers3Y sales CAGR: 8% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: June 12, 2026, 6:36 am

Market Cap 1,991 Cr.
Current Price 871
Intrinsic Value₹718.48
High / Low 1,329/666
Stock P/E15.8
Book Value 472
Dividend Yield1.03 %
ROCE18.0 %
ROE12.5 %
Face Value 10.0
PEG Ratio1.45

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

View Share Price Target for G M Breweries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
G M Breweries Ltd 1,991 Cr. 871 1,329/66615.8 4721.03 %18.0 %12.5 % 10.0
Associated Alcohols & Breweries Ltd 1,640 Cr. 817 1,277/66118.5 3460.24 %18.0 %14.6 % 10.0
Globus Spirits Ltd 2,432 Cr. 836 1,304/79725.6 3770.33 %11.5 %9.08 % 10.0
Som Distilleries & Breweries Ltd 1,542 Cr. 74.2 173/61.8108 37.40.00 %5.68 %1.87 % 2.00
IFB Agro Industries Ltd 848 Cr. 905 1,795/67715.0 7190.00 %12.5 %8.81 % 10.0
Industry Average8,172.00 Cr939.6539.41301.180.26%14.24%11.30%8.00

All Competitor Stocks of G M Breweries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 154156147152157160152149166169163181202
Expenses 120125120122132135121121136141132136150
Operating Profit 33312730252531283029314553
OPM % 22%20%18%20%16%16%21%18%18%17%19%25%26%
Other Income 3151177143140535
Interest 0000000000000
Depreciation 2122222221111
Profit before tax 35452729319533292968354756
Tax % 25%22%25%24%26%8%25%25%25%12%25%25%25%
Net Profit 26352022238725222260263542
EPS in Rs 11.3715.398.739.819.9138.0010.929.489.6226.4611.3215.2718.39

Last Updated: January 12, 2026, 7:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: June 11, 2026, 2:30 am

MetricMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales 307360375426464469340458594615637748
Expenses 269264306318347380265363477508519567
Operating Profit 389669108117897596117107118181
OPM % 13%27%18%25%25%19%22%21%20%17%18%24%
Other Income 210410149302920804830
Interest 7120000000010
Depreciation 656677566655
Profit before tax 28886711112391100118132181160205
Tax % 35%34%35%34%33%25%20%21%24%16%19%24%
Net Profit 1958447382688093100152129157
EPS in Rs 8.1425.4619.0631.8336.1029.7635.1340.9543.8066.4656.4868.64
Dividend Payout % 16%5%10%6%7%8%9%10%11%8%13%13%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-20252025-2026
YoY Net Profit Growth (%)205.26%-24.14%65.91%12.33%-17.07%17.65%16.25%7.53%52.00%-15.13%21.71%
Change in YoY Net Profit Growth (%)0.00%-229.40%90.05%-53.58%-29.40%34.72%-1.40%-8.72%44.47%-67.13%36.84%

G M Breweries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2015-2016 to 2025-2026.

Growth

Compounded Sales Growth
10 Years:8%
5 Years:6%
3 Years:12%
TTM:4%
Compounded Profit Growth
10 Years:22%
5 Years:13%
3 Years:13%
TTM:-17%
Stock Price CAGR
10 Years:16%
5 Years:17%
3 Years:12%
1 Year:-19%
Return on Equity
10 Years:18%
5 Years:16%
3 Years:16%
Last Year:15%

Last Updated: September 5, 2025, 4:55 am

Balance Sheet

Last Updated: April 22, 2026, 5:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 121215151818181818182323
Reserves 1141692102773494124875736638049161,055
Borrowings 3200000000000
Other Liabilities 48505560575368778795159147
Total Liabilities 2062312793514244845736687699171,0981,225
Fixed Assets 867996111139159138137185240291257
CWIP 1276644826202086047
Investments 778846108163226287379446526590570
Other Assets 426261697473128133131146217351
Total Assets 2062312793514244845736687699171,0981,225

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 2060536361791979659162-96
Cash from Investing Activity + -13-4-50-61-57-7210-95-87-48-149114
Cash from Financing Activity + -3-32-4-5-5-7-6-7-9-11-13-17
Net Cash Flow 424-1-4-2-06-50-1-01
Free Cash Flow 3260435537812999597116-114
CFO/OP 76%93%111%94%88%113%26%128%109%82%164%-26%

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Free Cash Flow6.0096.0069.00108.00117.0089.0075.0096.00117.00107.00118.00181.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 000012112012
Inventory Days 415038262740387363554046
Days Payable 1211111112102186132927
Cash Conversion Cycle 294028141631186660421221
Working Capital Days -58-30-19-26-17-8-72517-19-41
ROCE %29%22%55%33%42%37%23%20%20%20%24%18%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.43%74.43%74.43%74.43%74.43%74.43%74.43%74.43%74.43%74.43%74.43%74.43%
FIIs 1.66%0.30%0.34%0.30%0.36%0.63%0.34%0.37%0.32%0.44%0.37%1.20%
DIIs 0.00%0.02%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.15%
Public 23.91%25.26%25.24%25.27%25.22%24.94%25.22%25.20%25.25%25.12%25.18%24.22%
No. of Shareholders 31,10032,13732,30932,33733,60539,89046,66546,89648,92849,40649,02647,207

Shareholding Pattern Chart

No. of Shareholders

G M Breweries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 56.4882.9054.6151.0843.82
Diluted EPS (Rs.) 56.4882.9054.6151.0843.82
Cash EPS (Rs.) 58.7386.2257.7954.3746.80
Book Value[Excl.RevalReserv]/Share (Rs.) 410.65449.70372.83323.22276.16
Book Value[Incl.RevalReserv]/Share (Rs.) 410.65449.70372.83323.22276.16
Dividend / Share (Rs.) 7.507.006.005.004.00
Revenue From Operations / Share (Rs.) 278.52336.45324.57250.72186.00
PBDIT / Share (Rs.) 72.51102.6675.1867.8857.75
PBIT / Share (Rs.) 70.2499.3072.0064.5654.75
PBT / Share (Rs.) 69.9999.1071.9864.5654.72
Net Profit / Share (Rs.) 56.4682.8654.6151.0543.80
PBDIT Margin (%) 26.0330.5123.1627.0731.04
PBIT Margin (%) 25.2129.5122.1825.7529.43
PBT Margin (%) 25.1229.4522.1725.7429.41
Net Profit Margin (%) 20.2724.6216.8220.3623.54
Return on Networth / Equity (%) 13.7418.4214.6415.7915.85
Return on Capital Employeed (%) 17.0722.0319.2319.8719.68
Return On Assets (%) 11.7516.5112.9813.9713.97
Asset Turnover Ratio (%) 0.630.720.820.730.64
Current Ratio (X) 1.141.301.271.641.46
Quick Ratio (X) 0.930.990.831.211.03
Inventory Turnover Ratio (X) 20.7018.8212.6811.049.44
Dividend Payout Ratio (NP) (%) 9.917.239.157.836.84
Dividend Payout Ratio (CP) (%) 9.536.958.647.356.40
Earning Retention Ratio (%) 90.0992.7790.8592.1793.16
Cash Earning Retention Ratio (%) 90.4793.0591.3692.6593.60
Interest Coverage Ratio (X) 288.11505.033636.698930.031668.29
Interest Coverage Ratio (Post Tax) (X) 225.34408.642642.936717.251266.25
Enterprise Value (Cr.) 1329.221144.76950.311276.56753.76
EV / Net Operating Revenue (X) 2.091.861.602.782.22
EV / EBITDA (X) 8.026.106.9110.287.14
MarketCap / Net Operating Revenue (X) 2.241.881.642.842.24
Retention Ratios (%) 90.0892.7690.8492.1693.15
Price / BV (X) 1.521.411.432.201.51
Price / Net Operating Revenue (X) 2.241.881.642.842.24
EarningsYield 0.090.130.100.070.10

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

G M Breweries Ltd. is a Public Limited Listed company incorporated on 09/12/1981 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L15500MH1981PLC025809 and registration number is 025809. Currently Company is involved in the business activities of Manufacture of country liquor. Company's Total Operating Revenue is Rs. 747.85 Cr. and Equity Capital is Rs. 22.86 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Beverages & DistilleriesGanesh Niwas, Mumbai Maharashtra 400025Contact not found
Management
NamePosition Held
Mr. Jimmy Almeida KashyapChairman & Managing Director
Mrs. Jyoti Almeida KashyapWhole Time Director
Mr. Kiran ParashareWhole Time Director
Mrs. Urmi ShahDirector
Mr. Hardik ShahDirector
Ms. Shivani SoniDirector

FAQ

What is the intrinsic value of G M Breweries Ltd and is it undervalued?

As of 26 June 2026, G M Breweries Ltd's intrinsic value is ₹718.48, which is 17.51% lower than the current market price of ₹871.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.5 %), book value (₹472), dividend yield (1.03 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of G M Breweries Ltd?

G M Breweries Ltd is trading at ₹871.00 as of 26 June 2026, with a FY2026-2027 high of ₹1,329 and low of ₹666. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,991 Cr..

How does G M Breweries Ltd's P/E ratio compare to its industry?

G M Breweries Ltd has a P/E ratio of 15.8, which is below the industry average of 39.41. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is G M Breweries Ltd financially healthy?

Key indicators for G M Breweries Ltd: ROCE of 18.0 % indicates efficient capital utilization. Dividend yield is 1.03 %.

Is G M Breweries Ltd profitable and how is the profit trend?

G M Breweries Ltd reported a net profit of ₹157 Cr in Mar 2026 on revenue of ₹748 Cr. Compared to ₹100 Cr in Mar 2023, the net profit shows an improving trend.

Does G M Breweries Ltd pay dividends?

G M Breweries Ltd has a dividend yield of 1.03 % at the current price of ₹871.00. The company pays dividends, though the yield is modest.

Last Updated: June 12, 2026, 6:36 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 507488 | NSE: GMBREW
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in G M Breweries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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