Dolly Khanna buys stake in Associates Alcohols in Q4; stock surges 12%

The stock hit a record high of Rs 340, up 12%, rallied 37% thus far in the month of April, as compared to 3% rise in the S&P BSE Sensex.

Associated Alcohols & Breweries hit a new high of Rs 340, up 12% on the BSE, after the breweries & distilleries company said that Chennai-based value investor Dolly Khanna bought stake in the company during March quarter.

Dolly Khanna’s has purchased 187,279 equity shares representing 1.04% stake in Associated Alcohols & Breweries in January-March 2018 quarter, according to latest shareholding pattern filed by the company with the stock exchanges.

As of December 2017, Dolly Khanna held nil holding in the company, the data shows.

Thus far in the month of April, the stock of Associated Alcohols & Breweries rallied 37% from Rs 249, as compared to 3% rise in the S&P BSE Sensex. In past one year, it zoomed 156% against 14% rise in the benchmark index.

Associated Alcohols & Breweries had reported a strong 62% year on year growth in its standalone net profit at Rs 206.46 million for the first nine months (April-December) of the financial year 2017-18 (FY18). It had profit of Rs 127.31 million during the same period of FY17.

The earnings before interest, tax, depreciation and amortization (EBITDA) margin had improved by 327 basis points to 17.25% in 9MFY18 from 13.98% in 9MFY17.