Som Distilleries & Breweries Limited (SDBL)
₹73.57 -2.17% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Som Distilleries' revenue was ₹269 Cr (-49.1% year on year, +48.4% on the previous quarter), and net profit ₹1.6 Cr (-96.3% year on year); the operating margin was 5.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹269 | -49.1% | +48.4% |
| Operating profit | ₹15.0 | -78.7% | from loss |
| Net profit | ₹1.6 | -96.3% | from loss |
| EPS (₹) | 0.08 | -96.0% | from loss |
| Operating margin | 5.6% | — | — |
SDBL delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 58.79% of the SDBL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 43.25%. The price fell 2.17% on that unusually high delivery, the pattern the delivery dashboard labels distribution. Volume was 0.4 times its average, well below normal. 6 bulk or block deals were reported in SDBL in the last 60 days: ₹27 Cr bought and ₹27 Cr sold.
Delivery in the last 5 sessions: 47.1% · 63.1% · 39.4% · 20.4% · 58.8%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 28 Sep | Sell | Plutus Wealth Management Llp | ₹9.39 Cr | ₹79.81 | 1,176,058 | Bulk |
| 28 Sep | Buy | Plutus Wealth Management Llp | ₹9.38 Cr | ₹79.75 | 1,176,058 | Bulk |
| 28 Sep | Sell | Alphagrep Securities Private Limited | ₹7.89 Cr | ₹79.93 | 986,496 | Bulk |
| 28 Sep | Buy | Alphagrep Securities Private Limited | ₹7.88 Cr | ₹79.89 | 986,496 | Bulk |
| 25 Sep | Sell | Nk Securities Research Private Limited | ₹10.20 Cr | ₹74.74 | 1,364,080 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Som Distilleries & Breweries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. Issued by its Registrar and Share Transfer Agent, Mas Services Limited, the certificate covers the quarter from July 1, 2026, to September 30, 2026. The RTA confirmed that all dematerialisation requests received during this period were processed, verified, and updated within the prescribed 15-day limit. This is a standard regulatory compliance filing with no impact on business operations or financials.
- Compliance certificate covers the quarter from 01/07/2026 to 30/09/2026
- RTA Mas Services Limited confirmed processing of securities within the stipulated 15 days
- Mutilation and cancellation of physical certificates completed within 15 days of receipt
- Filing submitted to exchanges on October 13, 2026
Som Distilleries & Breweries Limited (SDBL) announced the voting results of its 33rd Annual General Meeting held on September 29, 2026. Shareholders approved all four resolutions, including the adoption of FY26 standalone and consolidated financial statements and the reappointment of a director. Crucially, a special resolution approving the issuance of convertible equity warrants to promoters on a preferential basis was passed with 99.99% votes in favor among valid votes polled. Total voter turnout stood at 41.09% of the 20,79,01,312 outstanding shares.
- Resolution to issue convertible equity warrants to promoters approved with 99.9898% votes in favor
- Overall voter turnout was 41.09% with 8,54,19,238 total votes polled out of 20,79,01,312 outstanding shares
- 5,02,59,024 promoter votes were treated as invalid for Resolution 4 as promoters were interested parties
- FY26 standalone and consolidated financial statements adopted with >99.99% shareholder approval
- Total of 1,13,687 shareholders were on record date (September 22, 2026)
Som Distilleries & Breweries Limited concluded its 33rd Annual General Meeting on September 29, 2026, with 53 members in attendance via video conference. Ordinary business included adopting the FY26 standalone and consolidated financial statements and reappointing director Mr. Rajat Batra. Special business was placed to consider and approve the issuance of convertible equity warrants to promoters on a preferential basis. Detailed scrutinizer results and voting figures will be disclosed separately.
- 33rd Annual General Meeting conducted virtually on September 29, 2026, commencing at 1:10 PM and concluding at 1:40 PM
- 53 members attended the meeting; remote e-voting concluded on September 28, 2026
- Adopted audited financial statements for the fiscal year ended March 31, 2026
- Proposed special resolution to approve issuance of convertible equity warrants to promoters on a preferential basis
The Madhya Pradesh High Court quashed the state's June 18, 2026 order that had rejected Som Distilleries & Breweries Limited's excise licence renewal applications. The court directed authorities to renew all manufacturing licences within 15 days from September 24, 2026, enabling SDBL to resume operations at its core Bhopal facility. Additionally, the court awarded Rs 1 lakh in legal costs against the state government and upheld SDBL's right to claim operational damages. Resumption of MP operations is critical as the company reported a sharp revenue dip to Rs 268.6 Cr in Jun 2026 and an operational loss in Mar 2026.
- Madhya Pradesh High Court judgment dated September 24, 2026 quashed the licence rejection order of June 18, 2026
- Court directed authorities to renew manufacturing licences within 15 days
- Costs of Rs 1 lakh awarded payable by the Government of Madhya Pradesh to SDBL
- Company permitted to pursue damages and losses arising from the plant closure before an appropriate forum
The Madhya Pradesh High Court quashed the state's June 18, 2026 order that had rejected Som Distilleries & Breweries Limited's excise licence renewal applications. The court directed authorities to renew all manufacturing licences within 15 days from September 24, 2026, enabling SDBL to resume operations at its core Bhopal facility. Additionally, the court awarded Rs 1 lakh in legal costs against the state government and upheld SDBL's right to claim operational damages. Resumption of MP operations is critical as the company reported a sharp revenue dip to Rs 268.6 Cr in Jun 2026 and an operational loss in Mar 2026.
- Madhya Pradesh High Court judgment dated September 24, 2026 quashed the licence rejection order of June 18, 2026
- Court directed authorities to renew manufacturing licences within 15 days
- Costs of Rs 1 lakh awarded payable by the Government of Madhya Pradesh to SDBL
- Company permitted to pursue damages and losses arising from the plant closure before an appropriate forum
Som Distilleries and Breweries Limited has announced the closure of its trading window starting October 1, 2026, pursuant to SEBI Insider Trading Regulations. The window will remain shut until 48 hours after the declaration of the un-audited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The specific date of the board meeting to approve the results will be communicated in due course.
- Trading window closes on 1st October, 2026
- Closure applies until 48 hours post declaration of Q2/H1 results ended 30th September, 2026
- Covers all designated persons and their immediate relatives
- Board meeting date to approve results will be announced separately
Som Distilleries and Breweries Limited issued a revised notice for its 33rd Annual General Meeting scheduled for September 29, 2026, incorporating an exchange-requested corrigendum. The primary special resolution seeks shareholder approval to issue up to 32,12,955 convertible equity warrants to promoter Deepak Arora at ₹77.81 per warrant, aggregating ₹25.00 crore. The fundraise represents approximately 1.6% of the company's current market cap of ₹1,561 crore. The revision adds disclosures in the explanatory statement pursuant to queries from NSE and BSE without altering financial statements.
- AGM scheduled for September 29, 2026, via video conferencing
- Preferential issue of up to 32,12,955 convertible warrants to promoter Deepak Arora
- Issue price set at ₹77.81 per warrant (face value ₹2 plus premium of ₹75.81)
- Total capital to be raised is ₹25,00,00,028.55 (₹25.00 crore), convertible within 18 months
- Corrigendum incorporated following disclosure queries from BSE and NSE
Som Distilleries & Breweries Limited (SDBL) issued a corrigendum to its AGM notice scheduled for September 29, 2026, addressing exchange observations from NSE and BSE. The clarifications relate to the preferential conversion of warrants into 32,12,955 equity shares to promoter Deepak Arora, raising ₹25.00 Cr. Post-issue, total promoter holding will rise from 39.43% to 40.27% on a fully diluted basis. The company plans to allocate ₹18.75 Cr (75%) toward working capital and ₹6.25 Cr (25%) toward general corporate purposes across FY27 and FY28.
- Proposed issuance of 32,12,955 equity shares of face value Rs 2 each upon warrant conversion to promoter Deepak Arora
- Total preferential issue proceeds amount to Rs 25,00,00,028.55 (Rs 25 Cr)
- 75% of proceeds (Rs 18.75 Cr) earmarked for working capital and 25% (Rs 6.25 Cr) for general corporate purposes
- Promoter shareholding increases from 39.43% pre-issue to 40.27% post-issue on a fully diluted basis
- Issued pursuant to queries from NSE (dated Sep 14, 2026) and BSE (dated Sep 15, 2026)
Som Distilleries & Breweries Limited has submitted its certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the month of August 2026. The report issued by Registrar and Share Transfer Agent Mas Services Limited indicates 1,000 shares were dematerialised via CDSL, while 0 shares were processed under NSDL. All received share certificates were confirmed to be mutilated and processed within the required 15-day timeline. This represents a regular compliance intimation with no operational or financial impact.
- 1,000 shares dematerialised through CDSL during August 2026
- 0 shares dematerialised or rematerialised through NSDL
- 0 shares rematerialised through CDSL
- Certificates mutilated and processed within 15 days of receipt
Som Distilleries & Breweries Limited has dispatched letters containing web-links and QR codes to access its Annual General Meeting (AGM) Notice and complete Annual Report for FY 2025-26. The dispatch was completed on September 7, 2026, targeting shareholders who do not have registered email addresses with the company, RTAs, or depositories. This is a standard regulatory compliance filing under Regulation 36(1)(b) of SEBI LODR Regulations and has no impact on business operations or financials.
- Dispatched letters with web-link and QR code for AGM Notice and FY2025-26 Annual Report on September 7, 2026
- Issued in compliance with SEBI LODR Regulation 30 and Regulation 36(1)(b)
- Communication sent specifically to shareholders without registered email addresses
Som Distilleries and Breweries Limited (SDBL) has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 under SEBI LODR regulations. The report details consolidated operations across 3 manufacturing plants and 5 offices, serving 22 Indian States/UTs and 18 export markets. Product mix remains beer-heavy, contributing 84.7% of turnover, while IMFL accounts for 15.3%. Exports remain a minor contributor at 0.69% of total turnover.
- Beer manufacturing contributed 84.7% of entity turnover, while IMFL accounted for 15.3%
- Exports contributed 0.69% of total turnover, reaching 18 international countries
- Consolidated operational footprint includes 3 plants and 5 offices across 22 Indian States and UTs
- Total workforce includes 460 permanent employees and 495 non-permanent workers as of March 31, 2026
- Paid-up capital stood at Rs 41,58,02,624
Som Distilleries & Breweries Limited has scheduled its 33rd Annual General Meeting (AGM) for Tuesday, September 29, 2026, at 1:00 PM through video conferencing. The cut-off date for remote e-voting eligibility has been fixed as September 22, 2026. The company's Register of Members and Share Transfer Books will remain closed from September 23, 2026, to September 29, 2026 (both days inclusive). This filing is standard administrative compliance and does not impact operations or financials.
- 33rd Annual General Meeting scheduled for September 29, 2026 at 1:00 PM
- Cut-off date for remote e-voting fixed for September 22, 2026
- Book closure period set from September 23, 2026 to September 29, 2026 (both days inclusive)
Som Distilleries & Breweries Limited has issued the notice for its 33rd Annual General Meeting scheduled for September 29, 2026. The key special business is the preferential issuance of up to 32,12,955 convertible equity warrants to promoter Mr. Deepak Arora at an issue price of Rs 77.81 per warrant, aggregating to Rs 25.00 crore. The warrant issue price represents a premium over the recent trading price of Rs 74.0, requiring 25% upfront payment and the balance within 18 months upon conversion.
- Preferential issue of up to 32,12,955 convertible warrants to promoter Mr. Deepak Arora
- Issue price set at Rs 77.81 per warrant (Rs 2 face value + Rs 75.81 premium), totaling Rs 25.00 crore
- 25% payable at allotment with the remaining 75% payable on conversion within 18 months
- 33rd AGM scheduled for September 29, 2026 via video conferencing
Som Distilleries & Breweries Limited (SDBL) approved raising up to ₹25.00 Cr through the issuance of 32,12,955 convertible equity warrants on a preferential basis to promoter Mr. Deepak Arora. The issue price is fixed at ₹77.81 per warrant (face value ₹2 plus premium of ₹75.81), which is slightly above the prevailing market price of ₹74.0. The funds will be utilized for working capital requirements and general corporate purposes. The warrants are exercisable within 18 months from allotment, with 25% payable upfront and the remaining 75% payable at conversion.
- Preferential issuance of up to 32,12,955 convertible warrants aggregating to ₹25,00,00,028.55 (~₹25.00 Cr)
- Issue price set at ₹77.81 per warrant (face value ₹2 + premium of ₹75.81) to promoter Mr. Deepak Arora
- 25% upfront subscription amount on allotment, with the remaining 75% payable upon conversion within 18 months
- Proceeds earmarked primarily for working capital needs and general corporate purposes
The Board of Som Distilleries & Breweries has approved the issuance of up to 32,12,955 convertible equity warrants on a preferential basis to promoter Deepak Arora at an issue price of Rs 77.81 per warrant (face value Rs 2 + premium Rs 75.81). The fundraise totals up to Rs 25.00 Cr, representing approximately 1.6% of the company's current market capitalization of Rs 1,553 Cr. The issuance is subject to regulatory and shareholder approval at the 33rd AGM scheduled for September 29, 2026, with share transfer books closed from September 23 to September 29, 2026.
- Preferential issuance of up to 32,12,955 convertible warrants to promoter Mr. Deepak Arora
- Issue price set at Rs 77.81 per warrant (including Rs 75.81 premium) vs current market price of Rs 74.0
- Total capital to be raised aggregates to Rs 25,00,00,028.55 (~Rs 25.00 Cr)
- 33rd AGM scheduled for September 29, 2026; book closure from September 23 to September 29, 2026
Financial Performance
Revenue Growth by Segment
IMFL segment volumes grew 65% in Q2 FY26, significantly outpacing the overall revenue trend. Total income for H1 FY26 stood at INR 800.1 Cr, while 9M FY25 revenue grew 22.8% YoY to INR 1,103.93 Cr. This matters because the shift toward IMFL validates the company's diversification strategy away from being purely beer-centric.
Geographic Revenue Split
A major portion of revenue is derived from Madhya Pradesh, followed by Karnataka and Odisha. This matters because it creates high sensitivity to state-specific excise policies and economic conditions in these three regions.
Profitability Margins
Gross profit margin expanded to 41.06% in Q2 FY26 from 40% YoY. Net profit margin for H1 FY26 was 7.7% (INR 61.6 Cr). This matters because margin expansion during a period of revenue contraction (down 7.2% in Q2 FY26) indicates strong cost control and a better product mix.
EBITDA Margin
EBITDA margin improved to 15% in Q2 FY26 from 12.1% YoY, with EBITDA reaching INR 40.5 Cr. This matters because it reflects operational efficiency gains, particularly in returnable glass bottle management.
Capital Expenditure
The company is investing in Phase-1 of a greenfield project and expanding beer capacity in Odisha from 6.0 mcpa to 9.0 mcpa in FY2025. This matters because it provides the necessary infrastructure to support long-term volume growth targets.
Credit Rating & Borrowing
Interest Coverage Ratio (ICR) improved significantly to 12.57x in FY24 from 6.39x in FY23. This matters because it indicates a robust ability to service debt obligations following a reduction in interest costs and debt levels.
Operational Drivers
Raw Materials
Glass bottles (returnable and new) and malt are primary raw materials. Standalone cost of materials consumed was INR 517.33 Cr in FY25, representing over 53% of standalone revenue. This matters because profitability is highly sensitive to price volatility in these specific inputs.
Import Sources
Not specifically disclosed in available documents, though operations are concentrated in Madhya Pradesh, Karnataka, and Odisha.
Capacity Expansion
Consolidated beer capacity is 35.2 mcpa and IMFL is 3.9 mcpa. Odisha beer capacity is expanding from 6.0 mcpa to 9.0 mcpa in FY2025. This matters because it allows SDBL to capture growing demand in the Eastern Indian market.
Raw Material Costs
Cost of materials consumed was INR 517.33 Cr for FY25 (Standalone). Returnable glass bottle management is a key strategy to mitigate packaging costs. This matters because efficient recycling directly improves EBITDA margins.
Manufacturing Efficiency
The company achieved a 15% EBITDA margin in Q2 FY26 despite a 7.2% drop in total income. This matters because it demonstrates high manufacturing efficiency and the ability to protect margins through better product mix.
Strategic Growth
Expected Growth Rate
25%
Growth Strategy
Growth will be achieved through the premiumization of the IMFL portfolio (e.g., Mahavat brand), expansion into high-volume markets like Delhi and Uttar Pradesh, and increasing beer capacity in Odisha to 9 mcpa. This matters because premium products offer higher margins and geographic expansion reduces concentration risk.
Products & Services
Beer (bottled, canned) and Indian Made Foreign Liquor (IMFL). This matters because it allows the company to cater to both mass-market and premium consumer segments.
Brand Portfolio
Hunter, Power Cool, Black Forte (Beer), and Mahavat (Premium IMFL). This matters because strong brand recall, especially for Hunter, acts as a competitive moat in the alco-bev industry.
New Products/Services
Mahavat (Premium IMFL) was recently launched in Madhya Pradesh and Delhi. This matters because it marks the company's strategic entry into the high-value premium liquor segment.
Market Expansion
Targeting increased sales in Uttar Pradesh and recently entered the Delhi market with premium brands. This matters because these are among the largest liquor-consuming regions in India.
External Factors
Industry Trends
The industry is seeing a significant trend toward premiumization and innovation. SDBL is positioning itself by launching premium IMFL brands like Mahavat to capture higher stakeholder value. This matters because premium segments are growing faster than economy segments.
Competitive Landscape
The company faces intense competition from large national and international alco-bev players. This matters because it necessitates constant investment in marketing and product innovation.
Competitive Moat
The company has a two-decade track record and established brands like Hunter. This matters because brand loyalty and distribution networks in states like MP are durable advantages that are difficult for new entrants to replicate.
Consumer Behavior
There is a shift toward premium IMFL and beer, as evidenced by SDBL's 65% volume growth in IMFL. This matters because it dictates the company's R&D and marketing focus.
Regulatory & Governance
Industry Regulations
The industry is subject to high government control, including state-level excise policies and pricing regulations. This matters because sudden regulatory shifts can disrupt the entire supply chain and pricing structure.
Legal Contingencies
Media articles in June 2024 alleged child labor issues at a plant in one of the Group's entities. This matters because it poses a significant reputational and regulatory risk that could impact licenses or ESG ratings.
Risk Analysis
Key Uncertainties
Regulatory changes and volatility in raw material prices are key risks. This matters because they can cause unpredictable fluctuations in both revenue and profit margins.
Geographic Concentration Risk
Madhya Pradesh, Karnataka, and Odisha account for the majority of revenue. This matters because the company is highly vulnerable to any economic or policy downturn in these specific states.
Technology Obsolescence Risk
The company has implemented audit trail features in its accounting software to comply with statutory requirements. This matters because it ensures data integrity and transparency.
