Strengthening business fundamentals and euphoric market sentiments have led to a sharp rally in the GM Breweries stock price
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Maharashtra-based country liquor manufacturer GM Breweries delivered a solid set of earnings for July-September. Buoyancy in consumer demand and the strength in the labour market translated into healthy gains in revenue and profits. Quarterly result highlights (image) GM Breweries posted an impressive Q2 result, driven by a sharp rebound in consumer-spending patterns. Country liquor volumes grew over 50 per cent year-on-year (YoY). Gross margins held firm and came in at 32.4 per cent. Economies of scale and rationalisation of employee expenses…
