Som Distilleries & Breweries financials and balance sheet

₹68.92₹1.03 (1.47%)BSE ₹69.01

Share price at the NSE close on 23 Oct 2026. Previous close ₹69.95.

52-week range of traded prices to 23 Oct 2026

₹61.80Low, 30 Mar 2026₹134.02High, 30 Oct 2025

Market cap: ₹1,433 Cr1,250th largest listed
P/E: Lossover the last 12 months
P/B: 1.8
Dividend yield: Nonein the last 12 months
ROE: −4.1%
ROE without one-offs: −2.6%
ROCE: −0.3%
Debt to equity: 0.26
Volume, NSE: 7,29,36348.4% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Som Distilleries & Breweries annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹2,831 Cr, year to Mar 2025A loss in 2 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue2,302
Materials and goods−811
Employee costs−52
Other expenses−1,353
Operating profit86
Depreciation−33
Other income+4.1
One-off items−12
Finance costs−22
Profit before tax23
Tax−12
Net profit10

What the company owns

Plant, investments and other assets₹1,091 Cr
Inventory₹182 Cr
Receivables₹175 Cr
Cash and bank₹17 Cr

What pays for it: net worth and liabilities

Net worth₹819 Cr
Other liabilities₹237 Cr
Borrowings₹212 Cr
Owed to suppliers₹198 Cr

Profit and loss

Consolidated, ₹ crore, years to March.Som Distilleries & Breweries quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 2 Jun	Mar 2020Filed 30 Jun	Mar 2021Filed 4 Jun	Mar 2022Filed 5 May	Mar 2023Filed 9 May	Mar 2024Filed 26 Apr	Mar 2025Filed 16 Jun	Mar 2026Filed 30 May
Revenue from operations	248	429	553	712	507	654	1,498	2,464	2,831	2,302
	210	370	503	667	517	637	1,396	2,315	2,655	2,216
Materials and goods bought	126	169	199	243	165	207	485	832	926	811
Employee costs	7	–	13	17	17	22	27	38	47	52
Other expenses	77	–	291	407	334	408	884	1,445	1,682	1,353
Operating profit before depreciation	38	59	49	44	−10	17	102	149	176	86
Operating margin	15.4%	13.7%	8.9%	6.2%	−1.9%	2.6%	6.8%	6.1%	6.2%	3.7%
Materials, % of revenue	50.7%	–	36.0%	34.1%	32.6%	31.7%	32.4%	33.8%	32.7%	35.3%
Employee costs, % of revenue	2.9%	–	2.4%	2.4%	3.3%	3.3%	1.8%	1.5%	1.7%	2.2%
Other expenses, % of revenue	31.1%	–	52.7%	57.3%	65.9%	62.4%	59.0%	58.6%	59.4%	58.8%
Depreciation and amortisation	4	4	9	12	13	17	17	21	26	33
Operating profit after depreciation	35	54	41	33	−23	0	85	128	150	52
Other income	0	2	3	4	3	3	1	6	5	4
Finance costs	11	9	12	15	19	15	16	12	11	22
Profit before one-off items and tax	23	47	32	21	−39	−13	70	122	144	35
One-off items	0	0	0	0	0	0	0	0	0	−12
Profit before tax	23	47	32	21	−39	−13	70	122	144	23
	10	22	12	6	−1	−3	10	35	39	12
Current tax	–	–	12	6	−1	−3	0	19	39	12
Deferred tax	–	–	0	0	0	0	10	17	0	0
	14	25	20	15	−38	−10	60	86	104	10
Belonging to the company's shareholders	14	25	–	15	−38	−10	60	86	104	10
Other comprehensive income	–	–	0	0	0	0	0	0	0	0
Total comprehensive income	–	–	20	15	−38	−10	60	87	104	10
Net margin	5.6%	5.9%	3.6%	2.1%	−7.5%	−1.5%	4.0%	3.5%	3.7%	0.5%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank. Belonging to the company's shareholders is left blank for the year to Mar 2019: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the share count moved by more than 5% across the period.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 2 Jun	Mar 2020Filed 30 Jun	Mar 2021Filed 4 Jun	Mar 2022Filed 5 May	Mar 2023Filed 9 May	Mar 2024Filed 26 Apr	Mar 2025Filed 16 Jun	Mar 2026Filed 30 May
	311	320	282	290	375	593	787	819
	311	320	282	290	375	562	748	779
Share capital	32	32	32	35	37	39	41	42
Reserves	278	287	249	255	338	523	706	737
Belonging to outside owners of subsidiaries	–	–	–	–	–	31	40	41
	149	199	178	197	242	166	171	212
Repayable after a year	96	145	123	111	160	99	35	31
Repayable within a year	53	54	55	86	83	67	136	181
	264	281	296	293	317	428	451	501
Trade payables	64	87	89	69	110	119	155	198
Other financial liabilities	112	120	144	126	55	121	41	52
Other liabilities	19	19	7	10	69	118	114	60
Provisions	1	1	1	1	1	3	5	10
Tax owed	16	0	–	0	0	0	0	–
	112	156	133	117	219	148	105	145
Other financial liabilities	3	1	3	5	48	20	27	73
Provisions	0	0	0	0	0	0	1	1
Deferred tax	12	10	7	1	11	28	43	40
Total assets	687	757	712	699	912	1,169	1,343	1,465
	374	433	433	431	522	614	687	954
Plant in use, after depreciation	206	271	413	405	391	504	622	674
Plant being built	150	142	2	0	97	68	23	246
Intangible assets	1	1	1	1	0	0	0	0
Intangible assets being developed	–	–	0	0	0	–	0	0
Investments	0	0	0	0	0	0	0	0
Other financial assets	16	19	16	15	15	21	26	23
Other assets	2	–	–	10	19	20	15	10
	312	324	279	268	389	556	656	511
Inventories	95	104	68	85	135	182	189	182
Trade receivables	119	130	131	116	142	238	254	175
Cash and cash equivalents	25	2	6	0	12	13	19	17
Other bank balances	0	20	9	9	1	1	1	0
Loans given	0	4	1	1	0	0	47	44
Tax paid in advance	–	–	–	2	3	8	22	5
Other assets	73	64	63	55	97	114	124	88
Net debt	124	177	163	188	230	153	151	194

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 4 Jun	Mar 2022Filed 5 May	Mar 2023Filed 9 May	Mar 2024Filed 26 Apr	Mar 2025Filed 16 Jun	Mar 2026Filed 30 May
	34	10	14	98	42	211
	37	13	14	116	66	225
	44	−7	−89	−39	−116	147
Receivables	−1	16	−26	−96	−12	79
Inventories	35	−16	−51	−47	−7	7
Payables	2	−20	41	9	−10	43
Other working capital	7	14	−53	95	−86	18
Tax paid	−3	−3	0	−19	−24	−14
Capital spending	16	7	99	106	101	316
Free cash flow	18	3	−85	−9	−58	−105
	−13	−6	−108	−113	−101	−300
Plant and property sold	0	0	0	0	0	7
	−29	−9	97	16	65	87
Borrowings raised	0	0	45	0	0	41
Borrowings repaid	−14	−12	0	−76	−20	0
Interest paid	0	−15	−16	−12	−11	−22
Lease payments	−19	0	0	0	0	0
Dividends paid	0	0	2	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	17	27	131	90	22
Net change in cash	−7	−5	3	1	7	−3

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Som Distilleries & Breweries dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 2 Jun	Mar 2020Filed 30 Jun	Mar 2021Filed 4 Jun	Mar 2022Filed 5 May	Mar 2023Filed 9 May	Mar 2024Filed 26 Apr	Mar 2025Filed 16 Jun	Mar 2026Filed 30 May
	₹1.01	₹1.83	₹0.02	₹0.93	−₹2.34	−₹0.58	₹3.39	₹4.49	₹5.28	₹0.49
As stated that year	₹5.06	₹9.16	₹0.12	₹4.65	−₹5.86	−₹1.45	₹8.47	₹11.22	₹5.28	₹0.49
	₹1.01	₹1.83	₹0.02	₹0.93	−₹2.34	−₹0.58	₹3.36	₹4.48	₹5.28	₹0.49
As stated that year	₹5.06	₹9.16	₹0.12	₹4.65	−₹5.86	−₹1.45	₹8.40	₹11.21	₹5.28	₹0.49
	₹0.30	₹0.30	₹0.30	–	–	–	₹0.10	–	–	–
As declared that year	₹1.50	₹1.50	₹1.50	–	–	–	₹0.25	–	–	–
	–	–	₹19.12	₹19.69	₹17.35	₹16.55	₹20.36	₹28.82	₹36.30	₹37.45
On that year's share count	–	–	₹95.62	₹98.45	₹43.36	₹41.38	₹50.89	₹72.05	₹36.30	₹37.45
Dividend payout	29.6%	16.4%	–	–	–	–	3.1%	–	–	–
Shareholder yield	–	–	–	–	0.0%	−4.0%	−2.2%	−6.4%	−3.7%	−1.7%
Market cap at the year end (₹ crore)	360	622	493	198	211	437	1,135	2,037	2,439	1,295

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from.

Ratios

Consolidated, years to March.Som Distilleries & Breweries PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 2 Jun	Mar 2020Filed 30 Jun	Mar 2021Filed 4 Jun	Mar 2022Filed 5 May	Mar 2023Filed 9 May	Mar 2024Filed 26 Apr	Mar 2025Filed 16 Jun	Mar 2026Filed 30 May
Revenue growth	–	72.9%	29.0%	28.7%	−28.7%	28.9%	129.1%	64.5%	14.9%	−18.7%
Operating profit growth	–	53.8%	−15.8%	−10.1%	–	–	504.4%	46.4%	17.9%	−51.4%
Net profit growth	–	81.2%	−21.8%	−23.9%	–	–	–	43.4%	20.8%	−90.1%
Earnings per share growth	–	81.0%	−98.7%	3,775.0%	–	–	–	32.5%	17.6%	−90.7%
	–	–	–	4.8%	−12.7%	−3.4%	18.1%	18.5%	16.0%	1.4%
	–	–	–	–	−17.4 pts	9.2 pts	21.6 pts	0.3 pts	−2.5 pts	−14.6 pts
From the net margin	–	–	–	–	−21.7 pts	10.1 pts	12.7 pts	−2.3 pts	1.0 pts	−14.0 pts
From asset turnover	–	–	–	–	5.1 pts	−0.9 pts	9.3 pts	4.3 pts	−0.9 pts	−0.5 pts
From borrowing	–	–	–	–	−0.8 pts	0.0 pts	−0.3 pts	−1.7 pts	−2.5 pts	−0.1 pts
Return on capital employed	–	–	8.8%	6.3%	−5.0%	0.0%	13.8%	16.9%	15.7%	5.1%
Cash conversion	–	–	–	–	–	–	23.7%	112.7%	40.4%	2,036.1%
Interest cover	3.1	6.2	3.3	2.1	–	0.0	5.3	10.8	13.6	2.4
Debt to equity	–	–	0.48	0.62	0.63	0.68	0.65	0.28	0.22	0.26
Receivable days	–	–	79	67	95	65	35	35	33	28
Inventory days	–	–	175	156	151	149	102	80	75	82
Payable days	–	–	116	130	197	122	83	52	61	89
Cash conversion cycle, days	–	–	137	92	49	91	53	63	46	21
Working capital days	–	–	50	39	17	29	35	27	41	28
Asset turnover	–	–	0.81	0.99	0.69	0.93	1.86	2.37	2.25	1.64
Assets per rupee of net worth	–	–	2.21	2.29	2.44	2.47	2.42	2.22	1.92	1.84
Sales per rupee of plant	–	–	2.68	2.63	1.23	1.61	3.83	4.88	4.55	3.42
Capital spending to depreciation	–	–	–	–	1.20	0.41	5.84	4.97	3.87	9.47
Plant being built, % of plant in use	–	–	72.6%	52.5%	0.5%	0.0%	24.9%	13.6%	3.7%	36.6%

Interest cover is left blank for the year to Mar 2021: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 0.7%
Cash from operations against operating profit: 246.1%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	35.3%	15.4%
Profit growth, yearly rate	–	–	−44.4%
Return on equity, average	–	10.1%	11.9%
Return on capital employed, average	–	10.3%	12.5%
Operating margin, average	6.8%	5.1%	5.3%
Net margin, average	2.0%	2.0%	2.6%
Asset turnover, average	–	1.81	2.09
Cash conversion cycle, days, average	–	55	43
Interest cover, average	5.2	6.4	8.9
Debt to equity, average	–	0.42	0.25

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	375	351	211
Cash from investing	−628	−514	−300
Cash from financing	256	168	87
Capital spending	629	522	316
Dividends paid	2	0	0
Shares bought back	0	0	0
Shares issued for cash	288	243	22
Borrowings raised	86	41	41
Borrowings repaid	108	96	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	5	6	5	7	5	4
Altman Z-scorePublished threshold 1.81	–	–	2.49	1.97	1.37	2.06	3.84	5.37	6.14	3.59
Beneish M-scorePublished threshold −1.78	–	–	–	–	−3.20	−2.54	−0.28	−2.00	−2.37	−2.25
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−8.09	−2.01	19.17	9.79	12.99	7.09
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	4.74	0.89	0.61	1.74
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−19.43	29.86	−40.88	−106.37	2.78	−8.07	−12.39
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−13.08	−2.24	−1.84	−73.95	−36.74	−7.43	8.65
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−1.31	−0.10	−0.89	2.82	0.92	0.84	−2.31
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	1.86	0.01	0.00	39.18	0.51	0.16	2.89
Effective tax ratePublished threshold 17.16 per cent	40.55	46.78	37.54	28.09	–	–	14.40	29.06	27.27	54.26
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	–	14.40	13.71	10.38	−9.76

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
20 Aug 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Short Term Rating	IVR A4+Review, Other		10
20 Aug 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term Rating	IVR BB+Review, Other	Stable	90
30 Jun 2026	ICRA Limited (opens in a new tab)	Unallocated limits-Unallocated limits	[ICRA]BBB- /[ICRA]A3Review, Downgrade	Negative	12.37
30 Jun 2026	ICRA Limited (opens in a new tab)	Interchangeable limits-Others	[ICRA]A3Review, Downgrade		5
30 Jun 2026	ICRA Limited (opens in a new tab)	Fund-based-Cash credit	[ICRA]BBB-Review, Downgrade	Negative	20
30 Jun 2026	ICRA Limited (opens in a new tab)	Fund-based-Term loan	[ICRA]BBB-Review, Downgrade	Negative	17.63
12 Feb 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term Bank Facilities	IVR A- / RWNIReview, Re-affirm		90
12 Feb 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Short Term Bank Facilities	IVR A2+ / RWNIReview, Re-affirm		10

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.