The breweries & distilleries company reported a standalone net profit of Rs 86.44 crore in Q4 FY24, steeply higher than Rs 35.10 crore recorded in Q4 FY23.
Revenue from operations (excluding excise duty) grew by 2.49% year on year to Rs 159.85 crore in the quarter ended 31 March 2024.
Profit before tax stood at Rs 94.51 crore during the quarter, zoomed 109.7% as compared to Rs 45.07 crore posted in Q4 FY23.
On full year basis, the company's net profit climbed 51.72% to Rs 151.52 crore on 3.66% increase in revenue to Rs 615.23 crore in FY24 over FY23.
Meanwhile, the firms board has proposed a dividend of Rs 7 per equity share for the year ended 31 March 2024.
Subsequently, the companys board has recommended a bonus issue in proportion of 1:4 (one new fully paid bonus equity share of Rs 10 each for every four existing fully paid equity shares of Rs 10 each held as on record date. The bonus issue will be subject to approval by members of the company.
The bonus equity shares will be issued out of free reserves created out of profits available as on 31 March 2024. A total sum of Rs 4.56 crore would be capitalized from balance of free reserves for implementation of this bonus issue. The total free reserves with the company as on 31 March 2024 were Rs 804.03 crore.
The said bonus shares would be credited/dispatched within 2 months from the date of proposal of board, which is 3 June 2024.
G M Breweries is engaged in the activities of manufacturing and marketing of alcoholic beverages such as country liquor (CL) and Indian made foreign liquor (IMFL). The company is the largest manufacturer of country liquor in the state of Maharashtra with a sizeable market share.
The scrip slipped 5.78% to Rs 736.40 on the BSE.
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