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G M Breweries Ltd

| Audited Consolidated Financial Results for Q4 and Year Ended March 31, 2026

Report Source

⬤9th Apr 26

Summary : G.M. Breweries reported strong revenue and profit growth, proposed a dividend, and is expanding into real estate, with a clean audit report.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of Materials Consumed: 51,182 Lakhs (2026) vs 47,102 Lakhs (2025).
  2. Employee benefits expenses: 1,261 Lakhs (2026) vs 1,199 Lakhs (2025).
  3. Excise Duty, VAT & TCS: 2,22,872 Lakhs (2026) vs 1,86,712 Lakhs (2025).
  4. Other Expenditure: 4,103 Lakhs (2026) vs 3,645 Lakhs (2025).
  5. Total Revenue from Operations: 2,97,657 Lakhs (2026) vs 2,50,369 Lakhs (2025).
  6. Net Cash from Operating Activities: (9,562.49) Lakhs (2026) vs 16,167.72 Lakhs (2025).
  7. Net Cash from Investing Activities: 11,389.16 Lakhs (2026) vs (14,859.68) Lakhs (2025).
  8. Net Cash from Financing Activities: (1,745.14) Lakhs (2026) vs (1,336.95) Lakhs (2025).
  9. Cash and Cash Equivalents at End: 157.11 Lakhs (2026) vs 75.58 Lakhs (2025).
  10. Total Assets: 1,22,542.12 Lakhs (2026) vs 1,09,756.08 Lakhs (2025).
  11. Total Equity: 1,07,826.22 Lakhs (2026) vs 93,856.49 Lakhs (2025).
  12. Property, Plant and Equipment: 4,210.37 Lakhs (2026) vs 5,006.46 Lakhs (2025).
  13. Investments: 57,038.81 Lakhs (2026) vs 58,959.16 Lakhs (2025).
  14. Remuneration paid to Chairman, Executive Director, CFO, and VP Finance.
  15. Lease rentals paid to Chairman and Managing Director.
  16. Both standalone and consolidated financial statements are presented.
  17. Consolidated statements include G.M. Breweries Limited and Buildfort Infra Dev Private Limited.
  18. Values are very similar, indicating the subsidiary's small contribution.

Corporate Overview

  1. Operations primarily in Mumbai, Virar (East), Palghar District, India.
  2. High dependence on the country liquor segment for revenue.
  3. Primarily engaged in the country liquor segment.
  4. Exploring opportunities in real estate business through a subsidiary.
  5. Formal and compliant with regulatory requirements.
  6. Confined to one segment: Country Liquor.
  7. Floated a wholly-owned subsidiary to explore real estate business.
  8. Invested Rs. 1 Lakh as initial capital in the real estate subsidiary.

Risk Factors

  1. Negative cash flow from operating activities.
  2. High dependence on country liquor segment.
  3. New real estate subsidiary not yet operational.
  4. Potential for material misstatements in financials.

Key Drivers

  1. Strong revenue and profit growth.
  2. Proposed dividend of Rs. 9 per share.
  3. New real estate business subsidiary.
  4. Unmodified audit opinion, strong controls.

Auditor’s Report

  1. Unmodified opinion on consolidated financial statements.
  2. Unmodified opinion on standalone financial statements.
  3. Opinion that financial statements give a true and fair view.
  4. No separate opinion provided on key audit matters; addressed in overall audit context.

Board Commentary

  1. No directors disqualified as of March 31, 2026.
  2. Proposed a dividend of Rs. 9 per equity share for FY2026.
  3. No pending litigations impacting consolidated financial position.
  4. No delay in transferring amounts to Investor Education and Protection Fund.
  5. No proceedings initiated for holding benami property.
  6. No fraud or whistle-blower complaints reported.
  7. Invested Rs. 1 Lakh in a new real estate subsidiary.

Corporate Governance

  1. No fraud or whistle-blower complaints reported.
  2. No directors disqualified as per Section 164(2) of the Act.

Management Discussion & Analysis

Future Strategy

  1. Diversification into real estate through a new subsidiary.

Operational Focus Areas

  1. Maintaining adequate internal financial controls.
  2. Ensuring compliance with all statutory and accounting standards.

Performance Drivers

  1. Growth in sales/income from operations.
  2. Effective management of material costs and other expenses.

Critical Risks

  1. New real estate subsidiary is yet to commence business.
G M Breweries Ltd (GMBREW) Quarterly Report Analysis & Insights | Dhanarthi