Cheers to a new start: Multibagger alcohol company gains after receiving permit from Chhattisgarh government

Over the past six months shares of company has given multibagger return of 182.04 per cent

Som Distilleries & Breweries Ltd is one of the leading alcoholic beverages manufacturers in India engaged in the manufacturing and sale of beer and Indian Made Foreign Liquor (IMFL). Company business area are brewing, fermentation, bottling, canning and blending of beer and Indian made foreign liquor.

Today the company has reported to the stock exchanges that their beer brands have received permissions for supply to the state of Chhattisgarh. They have also started the initial dispatches to the state. Looking ahead company’s management is confident to building a meaningful market presence in Chhattisgarh in the medium term.

After the news shares of the company have surged by over 3 per cent within couple of minutes. Yesterday the script was closed at Rs 311.60 and today it was open at Rs 313. Currently shares of company is trading at Rs 321.90, up by 3.31 per cent. Company has 52 week high of Rs 360.50 and it has 52 week low of Rs 87.11. It has market capitalization of around Rs 2,480 crore. Over the past six months shares of company has given multibagger return of 182.04 per cent and over one year it has given multibagger return of 258.12 per cent.

Speaking about the financials for the end of the June quarter, the net profit has increased by 31.2 per cent from Rs 25.7 crore to Rs 33.7 crore compared to the same quarter in the previous year. The total income of the company has risen by 51 per cent to Rs 386.6 crore from Rs 256.1 crore in Q1FY23.

Disclaimer: The article is for informational purposes only and not investment advice.