Associated Alcohols & Breweries Ltd. (IN:ASALCBR)
:ASALCBR
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Associated Alcohols & Breweries Ltd.
(ASALCBR)
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Rating:56Neutral
Price Target:
₹843.00
▼(-10.47% Downside)
Action:Reiterated
Date:05/21/26
The score is held back primarily by weak cash flow quality (negative free cash flow and low cash conversion) and bearish technical signals (below key moving averages, negative MACD). These are partly offset by a strong, low-leverage balance sheet and a reasonable P/E valuation.
Positive Factors
Low Leverage / Strong Balance Sheet
The company’s very low debt-to-equity (~0.10 in FY2026) and improving leverage provide durable financial flexibility. This reduces interest burden, supports funding for working capital or capex during industry cycles, and lowers refinancing risk over the medium term.
Negative Factors
Weak Cash Generation / Negative FCF
Multi-year negative free cash flow and weak cash conversion mean reported profits are not translating into cash. This raises structural funding risk for capex, working capital or dividends and increases reliance on external financing despite low leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Strong Balance Sheet
The company’s very low debt-to-equity (~0.10 in FY2026) and improving leverage provide durable financial flexibility. This reduces interest burden, supports funding for working capital or capex during industry cycles, and lowers refinancing risk over the medium term.
Read all positive factors
Associated Alcohols & Breweries Ltd. (ASALCBR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹15.53B
Dividend Yield0.21%
Average Volume (3M)3.97K
Price to Earnings (P/E)14.0
Beta (1Y)1.99
Revenue Growth-5.25%
EPS Growth5.44%
CountryIN
Employees567
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Wineries & Distilleries
Share Statistics
EPS (TTM)47.54
Shares Outstanding18,979,200
10 Day Avg. Volume3,266
30 Day Avg. Volume3,971
Financial Highlights & Ratios
PEG Ratio2.65
Price to Book (P/B)1.79
Price to Sales (P/S)1.22
P/FCF Ratio-127.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)51.4
Revenue Forecast (FY)₹11.10B
Associated Alcohols & Breweries Ltd. Business Overview & Revenue Model
Company Description
Associated Alcohols & Breweries Limited engages in liquor manufacturing and bottling activities in India. It offers extra neutral alcohol, as well as Indian Made Indian Liquor and Indian Made Foreign Liquor in the categories of whisky, brandy, rum...
How the Company Makes Money
ASALCBR primarily makes money by producing and selling alcoholic beverages and alcohol-related products. Key revenue streams typically include: (1) sale of bottled/branded spirits and other alcoholic beverages through permitted wholesale/retail ch...
Associated Alcohols & Breweries Ltd. Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
82
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.90B | 10.19B | 10.76B | 7.60B | 7.01B | 5.13B |
| Gross Profit | 4.05B | 2.80B | 3.47B | 2.52B | 3.27B | 1.10B |
| EBITDA | 1.39B | 1.43B | 1.32B | 863.59M | 712.41M | 961.91M |
| Net Income | 860.60M | 884.55M | 814.16M | 506.23M | 415.56M | 608.06M |
Balance Sheet | ||||||
| Total Assets | 7.76B | 8.56B | 7.18B | 6.19B | 5.38B | 4.00B |
| Cash, Cash Equivalents and Short-Term Investments | 541.93M | 278.24M | 11.88M | 429.20M | 631.00M | 805.12M |
| Total Debt | 748.34M | 689.19M | 1.02B | 1.08B | 1.00B | 54.41M |
| Total Liabilities | 1.89B | 1.61B | 1.97B | 1.96B | 1.75B | 873.73M |
| Stockholders Equity | 5.87B | 6.95B | 5.20B | 4.23B | 3.63B | 3.13B |
Cash Flow | ||||||
| Free Cash Flow | 264.98M | -97.58M | -121.26M | -756.76M | -861.16M | 395.00M |
| Operating Cash Flow | 556.66M | 474.17M | 739.15M | 284.20M | 67.63M | 792.33M |
| Investing Cash Flow | -471.47M | -895.37M | -830.88M | -324.88M | -942.24M | -699.80M |
| Financing Cash Flow | -2.30M | 517.66M | 9.28M | 126.57M | 862.65M | -85.40M |
Associated Alcohols & Breweries Ltd. Technical Analysis
Negative
941.55
Price Trends
816.03
Positive
842.34
Negative
929.51
Negative
Market Momentum
-5.48
Positive
41.43
Neutral
14.32
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASALCBR, the sentiment is Negative. The current price of 941.55 is above the 20-day moving average (MA) of 871.38, above the 50-day MA of 816.03, and above the 200-day MA of 929.51, indicating a neutral trend. The MACD of -5.48 indicates Positive momentum. The RSI at 41.43 is Neutral, neither overbought nor oversold. The STOCH value of 14.32 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ASALCBR.
Associated Alcohols & Breweries Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹16.84B | 121.41 | ― | ― | -6.60% | -6.25% | |
66 Neutral | ₹104.53B | -24.49 | ― | 0.21% | 30.79% | -30.63% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | ₹21.14B | 11.08 | ― | 0.72% | 17.48% | 21.54% | |
56 Neutral | ₹15.53B | 14.04 | ― | 0.21% | -5.25% | 5.44% | |
56 Neutral | ₹13.49B | 45.84 | ― | 1.67% | -4.02% | -63.44% | |
41 Neutral | ₹514.80M | 724.38 | ― | ― | -26.80% | -92.17% |
* Consumer Defensive Sector Average
IN:ASALCBR
Associated Alcohols & Breweries Ltd.
819.75
-269.29
-24.73%
IN:GMBREW
G.M. Breweries Ltd.
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227.24
31.91%
IN:RKDL
Ravikumar Distilleries Ltd.
20.60
-11.44
-35.71%
IN:SDBL
Som Distilleries & Breweries Ltd.
85.36
-61.19
-41.75%
IN:SULA
Sula Vineyards Ltd.
159.85
-142.00
-47.04%
IN:TI
Tilaknagar Industries Limited
432.30
88.60
25.78%
Associated Alcohols & Breweries Ltd. Corporate Events
Associated Alcohols Wins NCLT Nod to Acquire Kerala Distillery SDF Industries
Apr 22, 2026
Associated Alcohols Breweries Limited has secured approval from the National Company Law Tribunal’s Kochi Bench for its ₹30.85 crore resolution plan to acquire SDF Industries Ltd., a distillery-cum-bottling unit in Thrissur, Kerala. O...
NCLT clears Associated Alcohols’ resolution plan for SDF Industries
Apr 16, 2026
Associated Alcohols Breweries Ltd. has received approval from the National Company Law Tribunal’s Kochi Bench for its resolution plan for SDF Industries Limited, marking a formal green light to proceed with the proposed turnaround of the di...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.