Som Distilleries & Breweries LimitedConsumer GoodsSDBL
Q1 FY27 concall · earnings callSom Distilleries & Breweries Limited
Q1 was an extremely difficult quarter due to operational disruption in Madhya Pradesh, but the company sees signs of resilience with recovery in other states and the commissioning of a major new brewery in Uttar Pradesh.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Consolidated Volumes | 45.79 lakh cases | — | |
| Total Income | ₹268.8 Cr | — | |
| EBITDA | ₹15.2 Cr | — | |
| Beer Volume (Cases) | 45 lakh | — | |
| IMFL Realization (per case) | INR1,047 | 3% | |
| Gross Debt Increase (QoQ) | ₹10 Cr | — | |
| Gross Debt/Equity Ratio | 0.31x | — | |
| Cash from Operations | ₹28 Cr | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹561.96 Cr+12.2% YoY-2% QoQ | ₹21.51 Cr+19.6% YoY+15% QoQ | ₹1.10-52.6% YoY+14.6% QoQ |
| Q2 FY25 | ₹573.31 Cr+23% YoY-43.4% QoQ | ₹18.70 Cr+25.9% YoY-53.9% QoQ | ₹0.96-49.2% YoY-53.8% QoQ |
| Q1 FY25 | ₹1,012.71 Cr+33.5% YoY+37.1% QoQ | ₹40.55 Cr+20.4% YoY+102.9% QoQ | ₹2.08-53.2% YoY-19.1% QoQ |
| Q4 FY24 | ₹738.72 Cr+53.1% YoY+47.5% QoQ | ₹19.99 Cr+26% YoY+11.1% QoQ | ₹2.57+18.4% YoY+10.8% QoQ |
| Q3 FY24 | ₹500.80 Cr+64% YoY+7.4% QoQ | ₹17.99 Cr+71% YoY+21.1% QoQ | ₹2.32+57.8% YoY+22.8% QoQ |
TL;DR
- Madhya Pradesh plant suspension significantly impacted volumes and financial performance.
- Consolidated volumes at 45.79 lakh cases with total income of INR268.8 crores and EBITDA of INR15.2 crores.
- Strong rebound seen in Karnataka (30% volume increase) and Odisha (~40% volume increase).
- Uttar Pradesh brewery (10 million case annual capacity) commissioned and started commercial production in June.
- Management estimates INR250-260 crores of revenue lost due to MP plant closure.
- Fixed cost for idled MP plant is INR6-7 crores per quarter.
Said on the call
“Q1 was an extremely difficult quarter for the company.”
From the Q&A
| Topic | What management said |
|---|---|
| Madhya Pradesh Plant Status | The plant is suspended, with resolution hoped for within the month; fixed costs are INR6-7 crores per quarter; importing beer to MP is not viable due to high costs; INR25 crores of finished goods are stuck with a month of shelf life remaining. |
| Revenue Impact and Guidance | Management estimates INR250-260 crores of revenue lost in Q1 due to MP closure; FY27 revenue guidance is revised to INR1,000-INR1,100 crores from a higher prior figure. |
| Uttar Pradesh Brewery | Phase 1 cost INR300 crores, is a 10 million case annual capacity plant that started commercial production on June 9; no pending capex for Phase 1; Phase 2 (distillery) is in permission stage. |
| State-wise Performance | Karnataka volumes grew 30% in Q1; Odisha volumes grew close to 40%; Hassan facility operated at ~60% capacity; Odisha facility at ~70% capacity. |
| Market Entry Plans | Entry into Andhra Pradesh delayed; brands expected on shelves by first week of September. |
| Cost Inflation | Raw material and packaging costs (cans, malt, bottles) increased 7.5-8% year-on-year in Q1. |
| New Product Plans | Focus on existing beer portfolio; planning to step into the Indian single malt category before the end of the financial year. |
Guidance
- Restore normal operations at Madhya Pradesh.
- Sustain the recovery in Karnataka and Odisha.
- Ramp up the UP facility and improve capacity utilization.
- Strengthen the premium portfolio.
- Revenue guidance for FY27 is INR1,000-INR1,100 crores.
Source
Summary written from the transcript filed by Som Distilleries & Breweries Limited for the call held on 13 Aug 2026; published 20 Aug 2026, 18:02 IST.
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