Som Distilleries & Breweries Ltd. (SDBL) AI Stock Analysis

• Market Cap: ₹17.40B
• Dividend Yield: N/A
• Average Volume (3M): 74.11K
• Price to Earnings (P/E): 17.0
• Beta (1Y): 1.41
• Revenue Growth: -0.87%
• EPS Growth: 10.87%
• Country: IN
• Employees: 494
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Alcoholic
• EPS (TTM): 0.94
• Shares Outstanding: 195,276,300
• 10 Day Avg. Volume: 64,138
• 30 Day Avg. Volume: 74,109
• PEG Ratio: 1.22
• Price to Book (P/B): 3.00
• Price to Sales (P/S): 1.55
• P/FCF Ratio: -38.44
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹95.00 ▼(-13.20% Downside)

The overall stock score is primarily influenced by strong financial performance, despite high debt levels and cash flow challenges. Technical analysis indicates bearish momentum, which is a significant risk. Valuation is moderate, but the lack of a dividend yield may deter some investors.

Positive Factors

Profitability recovery

A sustained shift from losses to positive net margins signals structurally improved cost control and pricing power across brands. Durable margin recovery enhances long-term cash generation potential, supports reinvestment in distribution/brands, and improves resilience to cyclical volume swings.

Solid equity base

An improving equity base indicates strengthened solvency and a larger buffer against shocks, enabling the company to fund capital expenditure or absorb state-level excise swings without immediate refinancing. This structural balance-sheet health supports strategic investments and long-term competitiveness.

Operational cash generation

Positive operating cash conversion shows core operations are producing cash, a durable sign of business model viability. Even with capex needs, consistent operating cash supports working capital, funds brand/distribution investments, and underpins potential deleveraging over a multi-quarter horizon.

Negative Factors

Significant debt levels

Material absolute debt increases refinancing and interest exposure risk, constraining strategic flexibility. High leverage can divert earnings to servicing costs, limit capacity for marketing or capacity expansion, and amplify vulnerability to slower demand or excise-driven margin pressure over several quarters.

Weak free cash flow

Recurring negative free cash flow undermines the firm’s ability to self-fund capex, reduce debt, or invest in brands/distribution without external financing. Over a medium-term horizon, weak FCF can raise liquidity risk, increase reliance on debt markets, and constrain strategic growth initiatives.

Steep reported revenue decline

A pronounced revenue contraction is a structural red flag for market share, pricing, or distribution effectiveness. Persistent top-line declines impair margin leverage and cash flow, making deleveraging and brand investment harder; reversing this trend is critical for sustainable recovery.

Som Distilleries & Breweries Ltd. Business Overview & Revenue Model

Company Description

Som Distilleries & Breweries Limited manufactures and sells beer and Indian made foreign liquor (IMFL) products in India and internationally. It offers beer under the Hunter, Black Fort, Power Cool, and Woodpecker brand names; whisky under the Pentagon, Milestone, and Legend brand names; Vodka under the White Fox brand name; rum under the Black Fort brand name; Brandy under the Legend brand name; ready to drink under the Naughty Orange, Cosmo Cranberry, and Tangy Lemon brand names; and other IMFL products under the Genius, Sunny, Gypsy, and Blue Chip brand names. The company was incorporated in 1993 and is based in Bhopal, India.

How the Company Makes Money

Som Distilleries & Breweries Ltd. generates revenue primarily through the sale of its alcoholic beverages. The company's key revenue streams include the production and distribution of branded spirits and beers, which are sold through retail and wholesale channels. Additionally, SDBL benefits from strategic partnerships with distributors and retailers, enabling broader market access and enhanced sales volume. The company also engages in promotional activities and brand development to increase consumer recognition and loyalty, further contributing to its earnings. Seasonal demand variations and evolving consumer preferences in the beverage market also play a significant role in shaping its revenue model.

Som Distilleries & Breweries Ltd. Financial Statement Overview

Summary

Som Distilleries & Breweries Ltd. demonstrates strong revenue growth and improved profitability, with a solid equity base. However, high debt levels and challenges in cash flow management pose potential risks.

Income Statement

Som Distilleries & Breweries Ltd. shows strong profitability with a robust gross profit margin and consistent revenue growth over the years. The Net Profit Margin has improved significantly from negative in 2021 to positive in 2025, indicating a recovery and efficient cost management. The EBIT and EBITDA margins are healthy, highlighting operational efficiency. However, the initial years showed losses, which could pose a historical risk.

Balance Sheet

The company's balance sheet showcases a solid equity base with improving stockholders' equity over time, reflecting robust financial health. The debt-to-equity ratio is relatively stable, suggesting manageable leverage levels. The equity ratio indicates a strong asset base funded by equity. However, the total debt levels are significant, which could pose potential risks if not managed carefully.

Cash Flow

The cash flow analysis reveals challenges in generating free cash flow, as indicated by some negative free cash flow figures in recent years. This could suggest difficulties in covering capital expenditures with operating cash flow. The operating cash flow to net income ratio is positive, indicating operational activities are generating cash, but the free cash flow to net income ratio is weak, highlighting potential liquidity concerns.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	14.58B	14.43B	12.83B	8.08B	3.63B	2.88B
Gross Profit	5.34B	4.44B	4.01B	2.96B	1.54B	1.22B
EBITDA	1.88B	1.81B	1.53B	1.03B	195.90M	-70.00M
Net Income	1.08B	1.04B	864.96M	603.02M	-98.40M	-380.73M
Balance Sheet
Total Assets	0.00	13.43B	11.69B	9.12B	6.99B	7.12B
Cash, Cash Equivalents and Short-Term Investments	199.88M	199.88M	127.75M	126.37M	88.54M	137.25M
Total Debt	0.00	1.71B	1.97B	2.49B	2.01B	2.10B
Total Liabilities	-7.87B	5.56B	5.76B	5.36B	4.10B	4.30B
Stockholders Equity	7.87B	7.48B	5.62B	3.75B	2.90B	2.82B
Cash Flow
Free Cash Flow	0.00	-583.60M	-85.99M	-851.37M	24.46M	73.81M
Operating Cash Flow	0.00	422.24M	975.16M	142.75M	92.51M	234.14M
Investing Cash Flow	0.00	-1.01B	-1.13B	-1.08B	-60.24M	-128.93M
Financing Cash Flow	0.00	652.48M	160.51M	973.07M	-82.06M	-179.93M

Som Distilleries & Breweries Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 109.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SDBL, the sentiment is Negative. The current price of 109.45 is above the 20-day moving average (MA) of 96.88, above the 50-day MA of 104.65, and below the 200-day MA of 132.27, indicating a bearish trend. The MACD of -5.34 indicates Positive momentum. The RSI at 29.72 is Positive, neither overbought nor oversold. The STOCH value of 16.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SDBL.

Som Distilleries & Breweries Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GMBREW	75 Outperform	₹22.12B	13.55	―	0.72%	―	―
TI	66 Neutral	₹89.74B	30.65	―	0.21%	3.35%	56.08%
ASALCBR	66 Neutral	₹15.97B	17.69	―	0.21%	16.02%	48.63%
UBL	65 Neutral	₹388.36B	106.00	―	0.62%	8.08%	-22.42%
SDBL	63 Neutral	₹17.40B	16.96	―	―	-0.87%	10.87%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SULA	57 Neutral	₹15.47B	31.53	―	1.67%	-2.15%	-42.78%

Som Distilleries & Breweries Ltd. Corporate Events

Som Distilleries & Breweries Closes Trading Window Ahead of Q3 Results

Som Distilleries & Breweries Limited has announced the closure of its trading window for company shares for directors, key managerial personnel, designated employees and connected persons from the end of the quarter on 31 December 2025 until 48 hours after the declaration of its financial results for that quarter. The move is in compliance with SEBI’s Prohibition of Insider Trading Regulations and the company’s own code of conduct, reinforcing its adherence to governance norms and aiming to prevent any potential misuse of unpublished price-sensitive information ahead of its quarterly earnings disclosure.

Som Distilleries Discloses EOGM Voting Results

Som Distilleries & Breweries Ltd. held an Extraordinary General Meeting on December 12, 2025, where the scrutinizer’s report on remote e-voting and e-voting was presented. The results of the voting, conducted via video conference, have been disclosed in accordance with SEBI regulations, reflecting the company’s commitment to transparency and regulatory compliance.

Som Distilleries & Breweries Ltd. Holds Virtual Extraordinary General Meeting

Som Distilleries & Breweries Ltd. conducted its Extraordinary General Meeting (EOGM) on December 12, 2025, via video conference. The meeting, chaired by Whole Time Director Nakul Kam Sethi, saw the participation of 50 members and covered essential proceedings, reflecting the company’s commitment to maintaining transparent communication with its stakeholders.

Som Distilleries & Breweries Ltd. Issues SEBI Compliance Certificate

Som Distilleries & Breweries Ltd. has announced the issuance of a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for November 2025. This certificate, provided by Mas Services Limited, confirms the dematerialization and rematerialization of shares, with 2,000 shares dematerialized under NSDL and 3,500 under CDSL, ensuring that all share certificates have been processed within the stipulated time frame. This announcement underscores the company’s commitment to regulatory compliance and efficient share management, which is crucial for maintaining investor confidence and operational transparency.

Som Distilleries & Breweries Ltd. Announces Board Meeting and Trading Window Closure

Som Distilleries & Breweries Ltd. has announced a Board of Directors meeting scheduled for December 11, 2025, to consider and approve a Rights issue offer of Equity shares worth Rs.49.99 Crores by its wholly-owned subsidiary, Woodpecker Greenagri Nutrients Pvt Ltd. In compliance with SEBI regulations, the company has closed its trading window for equity shares until December 13, 2025, to prevent insider trading. This strategic move is expected to enhance the company’s financial position and potentially impact its market operations and stakeholder interests.