 "Beer")
Shares of Som Distilleries and Breweries soared 13.2 per cent to Rs 250 per share on the BSE in Thursday's intraday trade after the company said its Board will consider stock-split next month.
At 9:55 AM, shares were ruling 8.3 per cent higher at Rs 239 per share as against 0.02 per cenr rise in the benchmark S&P BSE Sensex.
In an exchange filing, post market hours on Wednesday, the liquor maker said the Board of Directors of the company is scheduled to meet on Tuesday, April 2, 2024, to consider and approve sub-division/split of existing equity shares of the company, having face value of Rs 5 per share each, fully paid up.
"The Board will also consider obtaining shareholders' approval for sub-division/split of equity shares and alteration of Authorised Share Capital of Memorandum of Association, and to fix day, date, time, and venue of the proposed Extra Ordinary General Meeting, and approve the final notice of the EGM of the company," it said.
Som Distilleries and Breweries (SDBL) is promoted by Som Group. The company is based in Bhopal and is one of the leading alcoholic beverage manufacturers in India. The company is engaged in production of beer and blending and bottling of Indian-made foreign liquor (IMFL). It has a strong sales and distribution network of distributors across India in states such as Andhra Pradesh, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Karnataka, Kerala, and West Bengal.
So far in the current financial year, the stock has leaped 44.4 per cent as against a 23.3-per cent rally in the benchmark S&P BSE Sensex. It hit a record higher (also its 52-week high) of Rs 389.8 per share on October 5, 2023, an a 52-week low of Rs 130.4 on March 21, 2023.
The stock's all-time low, meanwhile, was Rs 22 apiece, hit on August 5, 2020.
Meanwhile, in the December quarter, the brewery reported a growth of 71 per cent year-on-year (Y-o-Y) in net profit at Rs 17.9 crore. Its revenue was up 63.9 per cent Y-o-Y at Rs 266.35 crore, and Ebitda was up 87 per cent to Rs 31.83 crore.
The company's Ebitda margin saw a bump of 49 bps at 11.95 per cent vs 11.45 in Q3FY23.
Last month, Som Distilleries & Breweries said that it has recorded 51 per cent year-to-date volume growth in the state of Karnataka for the current financial year as compared to the same period last financial year.
"The impressive surge in volume reflects our steadfast dedication to innovation, customer satisfaction, and operational excellence. Through strategic initiatives, robust partnerships, and a customer-centric approach, we have successfully expanded our market presence and strengthened our position as a key player in Karnataka," the company said in a statement.
