# Associated Alcohols & Breweries share price today (Associated Alcohols & Breweries Ltd, NSE: ASALCBR)

> Associated Alcohols & Breweries share price today: ₹562.35 at the NSE close on 3 November 2026, down 53.8% in a year. Associated Alcohols & Breweries (NSE: ASALCBR) is worth ₹1,128 crore, trades at a P/E of 13.7 and has closed between ₹536.50 and ₹1,169.80 over the past 52 weeks. > Associated Alcohols & Breweries Ltd's P/E is near the low end of its own history, higher than only 10% of past readings, and its quarterly results are still getting worse. ASALCBR · Alcoholic Beverages · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/associated-alcohols-breweries-ltd

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## Key numbers

- Business trend: Slowing from a peak, from the last 12 quarters
- Price: ₹562.35 (−53.8% in a year)
- P/E: 13.7× (lower than 90% of the last 11 years)
- Revenue (Jun 2026): ₹281 Cr (+5.2% on a year ago)
- Profit (Jun 2026): ₹18.0 Cr (−25.0% on a year ago)
- Operating margin: 11.0% (−3.0 points on a year ago)
- ROCE: 18%, FY26
- ROIC: 11.1%, against a 12.0% cost of capital: −0.9 points

The main question: yearly earnings per share moved −2.2% while the share price moved −53.8%. ## What is the Associated Alcohols & Breweries share price today? Associated Alcohols & Breweries Ltd's share price was ₹562.35 at the close on 3 November 2026. It has been falling for 59 weeks. That is 27.0% below its average price over the last 200 trading days. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 22 weeks running. In the last 52 weeks it traded between ₹537 and ₹1,170, and at that close it sat 4% of the way up from that low. Over the last 11 years the share price moved +490% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 19 June 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Associated Alcohols & Breweries this quarter? Three changes stood out: revenue grew again in the June 2026 quarter, profit fell in the June 2026 quarter and indian funds and insurers (DIIs) raised their stake for 3 quarters in a row. 1. Revenue grew again in the June 2026 quarter Revenue was ₹281 crore, +5.2% on a year earlier (₹267 crore), after 3 quarters of decline. Why: Revenue grew because the company sold much more of its own IMFL brands, led by the CP series. From the earnings call on 27 Jul 2026. 2. Profit fell in the June 2026 quarter Profit was ₹18 crore, -25% on a year earlier (₹24 crore), after 2 quarters of growth. Why: Profit fell because ethanol prices were weak, which pulled down the company's overall margin. Next results: check the October ethanol tender and quota allocation, since management expects prices to move toward the Rs 57 to Rs 60 per liter break-even range. From the earnings call on 27 Jul 2026. 3. Indian funds and insurers (DIIs) raised their stake for 3 quarters in a row From 0% to 1.4% of the company by the September 2026 quarter. ## What are Associated Alcohols & Breweries' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Associated Alcohols & Breweries reported revenue of ₹281 crore, up 5.2% from ₹267 crore a year earlier, and a profit of ₹18.0 crore, down 25.0% from ₹24.0 crore. ### Associated Alcohols & Breweries results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹281 crore | ₹267 crore | +5.2% |
| Profit | ₹18.0 crore | ₹24.0 crore | −25.0% |
| Earnings per share | ₹8.88 | ₹13.08 | −32.1% |
| Operating margin | 11.0% | 14.0% | −3.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Associated Alcohols & Breweries' management discussed these results on a call held on 27 July 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Associated Alcohols & Breweries share price history? Associated Alcohols & Breweries closed at ₹562.35 on 3 November 2026, down 53.8% from ₹1,216.80 a year earlier (31 October 2025) and down 4.8% over five years. Its highest weekly close since March 2016 was ₹1,427.20 on 21 March 2025. ### Associated Alcohols & Breweries share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹539.85 | +4.2% |
| 1 month ago · 1 Oct 2026 | ₹614.70 | −8.5% |
| 6 months ago · 30 Apr 2026 | ₹888.80 | −36.7% |
| 1 year ago · 31 Oct 2025 | ₹1,216.80 | −53.8% |
| 3 years ago · 3 Nov 2023 | ₹464.80 | +21.0% |
| 5 years ago · 4 Nov 2021 | ₹590.65 | −4.8% |
| 10 years ago · 4 Nov 2016 | ₹111.70 | +403.4% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹95.30 | +490.1% |
| Highest weekly close since March 2016 · 21 Mar 2025 | ₹1,427.20 | −60.6% |
| Lowest weekly close since March 2016 · 10 Jun 2016 | ₹62.60 | +798.3% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹1,169.80 | −51.9% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹536.50 | +4.8% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (560 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Associated Alcohols & Breweries? 3 Nov 2026: Associated Alcohols & Breweries closed at ₹562.35, up 4.2% on the week and down 8.5% on the month. 9 Sep 2026: ex-date for a dividend of ₹2 a share. ### Earlier

- 27 Jul 2026: Associated Alcohols & Breweries held its results call for April to June 2026. Management guided: IMFL proprietary volume growth around 30.0% in FY27; one or two proprietary brands reaching million-case scale within 2-3 years. - Results for April to June 2026: Revenue up 5.2% and profit down 25.0% on a year earlier. ## What dividend does Associated Alcohols & Breweries pay? Associated Alcohols & Breweries paid ₹2 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.36% at the ₹562.35 close on 3 November 2026. The last was a dividend of ₹2 a share, ex-date 9 September 2026. ### Associated Alcohols & Breweries dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 9 Sep 2026 | ₹2 | Dividend |
| 25 Jul 2025 | ₹2 | Dividend |
| 26 Jul 2024 | ₹2 | Dividend |
| 26 Jul 2023 | ₹1 | Dividend |
| 28 Jul 2022 | ₹1 | Dividend |
| 12 Aug 2021 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Associated Alcohols & Breweries Ltd paid out 5% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 7 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Associated Alcohols & Breweries management say on the latest results call? On the call for April to June 2026, held on 27 July 2026, Associated Alcohols & Breweries' management guided: IMFL proprietary volume growth around 30.0% in FY27; one or two proprietary brands reaching million-case scale within 2-3 years. > “For FY27, we remain confident in delivering around 30.0% volume growth in our IMFL proprietary portfolio, while continuing to improve our product mix and create long-term value for stakeholders.”
> Tushar Bhandari, Whole-time Director, on the call for April to June 2026

### What management guided

- Tequila and premium brandy launches in Q2; tequila planned before Diwali across 7-8 states, initially Madhya Pradesh, with brandy in Kerala. - RTD registration across 8 additional states; full effect expected after registration in 10-12 states from April 1, 2026 and 3.0-4.0% share in entered states; RTD market growth expected at 15.0-17.0%. - SDF expected to be operational by December 2026.5-4.0 lakh cases per month capacity. - Ethanol revenue expected to remain similar to last year at maximum capacity; higher quota and better realization expected after October tenders and direct private OMC participation; break-even estimated at ₹57 to ₹60 per liter. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/960/Conference Call/CC-Jul26.pdf). (From the call for April to June 2026, 27 July 2026.)

## What to watch in Associated Alcohols & Breweries' next results? When Associated Alcohols & Breweries reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: October ethanol tender and quota allocation: realization should improve toward the ₹57 to ₹60 per liter break-even range, supported by direct private OMC participation. - What to check (from the call)
- October ethanol tender and quota allocation: realization should improve toward the ₹57 to ₹60 per liter break-even range, supported by direct private OMC participation. - SDF execution: one unit should begin in December, with full operations from April 1 and capacity building toward 3.5 to 4.0 lakh cases monthly. - IMFL proprietary momentum: quarterly volume growth should remain consistent with the FY27 around 30.0% goal after Q1's 40.0% on a year earlier increase. - RTD registrations and tequila availability should expand before the peak Diwali and New Year season, with tequila initially in Madhya Pradesh and then wider rollout. ## Which stock lists is Associated Alcohols & Breweries on? Associated Alcohols & Breweries is on one of our India lists: 52 week high & low. [52 week high & low 52-week position: Near 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)

## Is Associated Alcohols & Breweries profitable? Associated Alcohols & Breweries Ltd earned ₹18.0 Cr of net profit in the Jun 2026 quarter, −25.0% on the same quarter a year earlier. Full-year FY26 profit was ₹88.0 Cr. Over 20 years profit has grown 18.4% a year on average. That is 6.4% of the quarter's revenue. The same quarter a year earlier earned ₹24.0 Cr. For the full year, FY26 profit was ₹88.0 Cr (+8.6% on the year before). Why profit moved: revenue changed +5.2% on a year earlier and the margin moved −3.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed −4.7% and revenue −4.3%. Profit and revenue are moving at about the same pace. ## How much revenue does Associated Alcohols & Breweries make, and is it growing? Associated Alcohols & Breweries Ltd reported ₹281 Cr of revenue in the Jun 2026 quarter, +5.2% on the same quarter a year earlier. Over 20 years it has grown 12.8% a year on average. The last full year, FY26, came in at ₹1,020 Cr. The last four reported quarters add to ₹1,033 Cr. FY26 revenue was ₹1,020 Cr, −5.1% on the year before. Recent pace: the last four quarters grew −4.3% on average, against 12.8% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −5.3%, against +47.2% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −4.6%, against +78.7% a year (rolling over). ## How much of every ₹100 of sales does Associated Alcohols & Breweries keep? Associated Alcohols & Breweries Ltd's operating margin was 11.0% in the Jun 2026 quarter, 3.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 7 years it has been between 3.6% and 14.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −3.3 percentage points on the year while gross margin changed −2.4 points. So the drop came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is Associated Alcohols & Breweries' profit turning into cash? Over the last 3 years, 96% of Associated Alcohols & Breweries Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹52.0 Cr of operating cash against ₹88.0 Cr of profit. After ₹55.0 Cr of spending on assets, free cash was −₹3.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 96% of profit came in as cash: the cash cycle got 15 days shorter between FY07 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 1.7× depreciation over three years. The next section checks what that spending is building. ## Where does Associated Alcohols & Breweries' cash go? Associated Alcohols & Breweries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 110 days in FY26, down from 125 days in FY07. It spent ₹71.0 Cr on assets over the last 3 years. Customers take 15 days to pay, and stock sits for 125 days on average. At FY26 sales of ₹1,020 Cr, each day of that cycle ties up about ₹2.8 Cr, so roughly ₹307 Cr is tied up in the business at any time. FY26: customers took 15 days to pay and stock sat for 125 days, about 4.1 months of sales sitting as stock, for a full cycle of 110 days, shorter than FY07's 125. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 125 days. Customers pay about 15 days after that. Suppliers are paid at 30 days. Together that makes the 110-day cycle. Spending on assets: ₹71.0 Cr over the last 3 years, against ₹41.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹19.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Associated Alcohols & Breweries' P/E ratio, and how does it compare with its own history? Associated Alcohols & Breweries Ltd's P/E is 13.7×, near the low end of its own history: it has been lower only 10% of the time. Its usual P/E (the middle reading) is 19.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹42.34. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved −2.2% while the price moved −53.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 10 years the price moved +17.5% a year; about +21.2% a year came from earnings growth and about −3.7 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Associated Alcohols & Breweries business getting better or worse? Associated Alcohols & Breweries Ltd's business is slowing from a peak. Revenue, profit and EPS growth have slowed sharply (revenue growth from +203.3% at its peak to −5.3% now), while ROCE is still 18.0%. This is based on 9 quarters of 4 measures. Why it matters: slowing from a peak is where good stories often end quietly. ## How much does Associated Alcohols & Breweries earn on its capital? Associated Alcohols & Breweries Ltd earned a ROCE of 18% in FY26. That is up from a low of 5% in FY07. Its return on capital used (ROIC) is 0.9 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 8.6% net margin and 1.19× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 8.6% net margin × 1.19× asset turnover × 1.23× leverage (assets divided by equity) ≈ 12.6% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 11.1% − 12.0% = −0.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 11.1% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 13.0%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Associated Alcohols & Breweries have too much debt? Associated Alcohols & Breweries Ltd has total debt of ₹69.0 Cr against shareholder equity of ₹695 Cr as of Jun 2026, so its debt is 0.10× its equity, which is very little. Year by year, that ratio went from 0.02 in FY22 to 0.10 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Associated Alcohols & Breweries shareholding pattern? Promoters raised their stake in Associated Alcohols & Breweries Ltd by 3.1 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 62.4% of the company. Domestic institutions moved +1.4 points over the same period, to 1.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: +3.1 points over 8 quarters, to 62.4%; Domestic institutions: +1.4 points over 8 quarters, to 1.4%; Foreign institutions: +0.1 points over 8 quarters, to 1.0%. Why the owners changed: promoters drove it (+3.1 points), together with domestic institutions (+1.4 points). They raised their stake step by step. ## How far is Associated Alcohols & Breweries from balance-sheet trouble? For Associated Alcohols & Breweries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Associated Alcohols & Breweries rank in its industry? 48.6 out of 100, rank 7 of 16 in Alcoholic Beverages, with 81% of the evidence available. Associated Alcohols & Breweries Ltd scores 48.6 out of 100 against the 16 companies it is compared with in Alcoholic Beverages, ranking 7. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 7.8 + 15.9 + 17.4 + 7.5 = 48.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Associated Alcohols & Breweries compared with? Associated Alcohols & Breweries ranks 7 of 16 Alcoholic Beverages companies on the 4-Factor Sector Score, with 48.6 out of 100. 1. [Radico Khaitan Ltd](https://www.sectoralpha.in/stocks/radico-khaitan-ltd) RADICO · losing its lead · Most evidence points up · 100% evidence 71.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.5/35 · Revenue 15.8% · Profit 73.8% · Operating margin change 4 points · 100% evidence Capital efficiency 22.1/25 · ROCE 24.2% · Operating margin 20% · 100% evidence Valuation 7.0/20 · P/E 68.2× · PEG 1.91 · 100% evidence Relative strength 11.9/20 · Lead over its industry 21.6% · Lead over NIFTY 500 20.6% · 1 year 30.5% · 100% evidence · 11 of 12 weeks ahead Exact sum: 30.5 + 22.1 + 7 + 11.9 = 71.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [India Glycols Ltd](https://www.sectoralpha.in/stocks/india-glycols-ltd) INDIAGLYCO · breaking out · Most evidence points up · 96% evidence 70.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.6/35 · Revenue 12% · Profit 29.9% · Operating margin change 1 points · 88% evidence Capital efficiency 15.2/25 · ROCE 12.4% · Operating margin 15% · 100% evidence Valuation 13.3/20 · P/E 7× · PEG 0.17 · 100% evidence Relative strength 20.0/20 · Lead over its industry 53.7% · Lead over NIFTY 500 51.8% · 1 year 61.8% · 100% evidence · 11 of 12 weeks ahead Exact sum: 21.6 + 15.2 + 13.3 + 20 = 70.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [IFB Agro Industries Ltd](https://www.sectoralpha.in/stocks/ifb-agro-industries-ltd) IFBAGRO · quiet · Evidence leans up · 74% evidence 64.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.2/35 · Revenue 38.9% · Profit 90.3% · Operating margin change 1 points · 88% evidence Capital efficiency 13.2/25 · ROCE 12.7% · Operating margin 8% · 100% evidence Valuation 15.5/20 · P/E 12.8× · PEG 0.33 · 65% evidence Relative strength 8.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -17.3% · 1 year -39% · 25% evidence · 0 of 12 weeks ahead Exact sum: 27.2 + 13.2 + 15.5 + 8.4 = 64.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [United Spirits Ltd](https://www.sectoralpha.in/stocks/united-spirits-ltd) UNITDSPR · quiet · Evidence leans up · 100% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.7/35 · Revenue 1.1% · Profit 12.9% · Operating margin change -1 points · 100% evidence Capital efficiency 22.6/25 · ROCE 26.4% · Operating margin 20% · 100% evidence Valuation 8.4/20 · P/E 53.5× · PEG 3.56 · 100% evidence Relative strength 9.6/20 · Lead over its industry 2.4% · Lead over NIFTY 500 1.8% · 1 year -6.8% · 100% evidence · 7 of 12 weeks ahead Exact sum: 16.7 + 22.6 + 8.4 + 9.6 = 57.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Piccadily Agro Industries Ltd](https://www.sectoralpha.in/stocks/piccadily-agro-industries-ltd) PICCADIL · quiet · Evidence leans up · 74% evidence 56.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.4/35 · Revenue 28.5% · Profit 30.6% · Operating margin change -1 points · 88% evidence Capital efficiency 15.8/25 · ROCE 18% · Operating margin 17% · 100% evidence Valuation 11.6/20 · P/E 39.2× · PEG 1.38 · 65% evidence Relative strength 9.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.8% · 1 year -17.9% · 25% evidence · 5 of 12 weeks ahead Exact sum: 19.4 + 15.8 + 11.6 + 9.8 = 56.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [G M Breweries Ltd](https://www.sectoralpha.in/stocks/g-m-breweries-ltd) GMBREW · quiet · Evidence leans up · 82% evidence 53.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 20.5% · Profit 21% · Operating margin change -2 points · 95% evidence Capital efficiency 18.4/25 · ROCE 18% · Operating margin 23% · 76% evidence Valuation 12.6/20 · P/E 10.4× · PEG n/a · 50% evidence Relative strength 3.3/20 · Lead over its industry -14.5% · Lead over NIFTY 500 -15.2% · 1 year -35.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 19.1 + 18.4 + 12.6 + 3.3 = 53.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. Associated Alcohols & Breweries Ltd this page ASALCBR · basing · Evidence leans down · 81% evidence 48.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.8/35 · Revenue -5.3% · Profit -4.6% · Operating margin change -3 points · 88% evidence Capital efficiency 15.9/25 · ROCE 18% · Operating margin 11% · 100% evidence Valuation 17.4/20 · P/E 13.1× · PEG 0.96 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -30.3% · 1 year -55.9% · 25% evidence · 0 of 12 weeks ahead Exact sum: 7.8 + 15.9 + 17.4 + 7.5 = 48.6 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Globus Spirits Ltd](https://www.sectoralpha.in/stocks/globus-spirits-ltd) GLOBUSSPR · quiet · Evidence leans down · 83% evidence 47.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.6/35 · Revenue 10.8% · Profit 100% · Operating margin change -1 points · 100% evidence Capital efficiency 11.6/25 · ROCE 11.2% · Operating margin 8% · 100% evidence Valuation 10.6/20 · P/E 23× · PEG n/a · 15% evidence Relative strength 1.1/20 · Lead over its industry -22% · Lead over NIFTY 500 -22.5% · 1 year -41.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 24.6 + 11.6 + 10.6 + 1.1 = 47.9 · What this means: Earnings are strong; relative strength in its sector is -22% and the one-year return is -41.3%. 9. [Allied Blenders & Distillers Ltd](https://www.sectoralpha.in/stocks/allied-blenders-distillers-ltd) ABDL · breaking out · Evidence leans down · 93% evidence 47.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.5/35 · Revenue 8.6% · Profit -15.3% · Operating margin change -1 points · 100% evidence Capital efficiency 14.9/25 · ROCE 18.4% · Operating margin 12% · 100% evidence Valuation 4.3/20 · P/E 84.8× · PEG 4.13 · 65% evidence Relative strength 18.1/20 · Lead over its industry 26.7% · Lead over NIFTY 500 25.6% · 1 year 5.5% · 100% evidence · 8 of 12 weeks ahead Exact sum: 10.5 + 14.9 + 4.3 + 18.1 = 47.8 · What this means: Relative strength against the index is 25.6%, and revenue and profit growth are weak. 10. [United Breweries Ltd](https://www.sectoralpha.in/stocks/united-breweries-ltd) UBL · quiet · Evidence leans down · 83% evidence 47.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue 7.4% · Profit 31.9% · Operating margin change 4 points · 100% evidence Capital efficiency 10.9/25 · ROCE 10.7% · Operating margin 10% · 100% evidence Valuation 9.0/20 · P/E 71.8× · PEG n/a · 15% evidence Relative strength 5.3/20 · Lead over its industry -14.2% · Lead over NIFTY 500 -14.6% · 1 year -34.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 22.4 + 10.9 + 9 + 5.3 = 47.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Tilaknagar Industries Ltd](https://www.sectoralpha.in/stocks/tilaknagar-industries-ltd) TI · breaking out · Evidence leans down · 90% evidence 44.3 out of 100 Growth Capital Valuation Relative
12. [Asgard Alcobev Ltd](https://www.sectoralpha.in/stocks/asgard-alcobev-ltd) quiet · Evidence leans down · 61% evidence 41.6 out of 100 Growth Capital Valuation Relative
13. [Fratelli Vineyards Ltd](https://www.sectoralpha.in/stocks/fratelli-vineyards-ltd) Too little evidence to rank firmly · 50% evidence 39.9 out of 100 Growth Capital Valuation Relative
14. [Sula Vineyards Ltd](https://www.sectoralpha.in/stocks/sula-vineyards-ltd) SULA · quiet · Most evidence points down · 81% evidence 30.6 out of 100 Growth Capital Valuation Relative
15. [Som Distilleries & Breweries Ltd](https://www.sectoralpha.in/stocks/som-distilleries-breweries-ltd) SDBL · breaking out · Most evidence points down · 68% evidence 30.4 out of 100 Growth Capital Valuation Relative
16. [Jagatjit Industries Ltd](https://www.sectoralpha.in/stocks/jagatjit-industries-ltd) JAGAJITIND · losing its lead · Too little evidence to rank firmly · 49% evidence 45.0 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Alcoholic Beverages](https://www.sectoralpha.in/sectors/alcoholic-beverages), all 16 compared on one page. ## Which companies are close to Associated Alcohols & Breweries in size? Associated Alcohols & Breweries is the 11th largest of 16 Alcoholic Beverages companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Globus Spirits, G M Breweries and Som Distilleries & Breweries. Just below it: Sula Vineyards, Asgard Alcobev and IFB Agro Industries. ### Alcoholic Beverages companies close in size

1. [Globus Spirits Ltd](https://www.sectoralpha.in/stocks/globus-spirits-ltd) ₹2,136 crore
2. [G M Breweries Ltd](https://www.sectoralpha.in/stocks/g-m-breweries-ltd) ₹1,795 crore
3. [Som Distilleries & Breweries Ltd](https://www.sectoralpha.in/stocks/som-distilleries-breweries-ltd) ₹1,506 crore
4. Associated Alcohols & Breweries Ltd ₹1,079 crore
5. [Sula Vineyards Ltd](https://www.sectoralpha.in/stocks/sula-vineyards-ltd) ₹1,061 crore
6. [Asgard Alcobev Ltd](https://www.sectoralpha.in/stocks/asgard-alcobev-ltd) ₹884 crore
7. [IFB Agro Industries Ltd](https://www.sectoralpha.in/stocks/ifb-agro-industries-ltd) ₹767 crore

[All 16 Alcoholic Beverages companies, largest first](https://www.sectoralpha.in/sectors/alcoholic-beverages#all-companies)

### Companies close in size in other industries

1. [SPML Infra Ltd](https://www.sectoralpha.in/stocks/spml-infra-ltd) ₹1,084 crore · Infra - Construction & Contracting
2. [Andrew Yule & Company Ltd](https://www.sectoralpha.in/stocks/andrew-yule-company-ltd) ₹1,079 crore · Diversified
3. Associated Alcohols & Breweries Ltd ₹1,079 crore
4. [Automobile Corporation Of Goa Ltd](https://www.sectoralpha.in/stocks/automobile-corporation-of-goa-ltd) ₹1,079 crore · Auto Ancillaries - Diversified
5. [BMW Industries Ltd](https://www.sectoralpha.in/stocks/bmw-industries-ltd) ₹1,079 crore · Steel Products

## What else do people ask about Associated Alcohols & Breweries? ### What is Associated Alcohols & Breweries's share price today? Associated Alcohols & Breweries Ltd's share price is ₹562.35, −53.8% over the past year. The whole company is worth ₹1,128 Cr on the market. In the last 52 weeks it traded between ₹537 to ₹1,170; today it is 4% of the way up from the low, 27.0% below its 200-day average (as of 3 November 2026). ### What were Associated Alcohols & Breweries's latest quarterly results? Associated Alcohols & Breweries Ltd reported revenue of ₹281 Cr and net profit of ₹18.0 Cr for the Jun 2026 quarter. Revenue rose 5.2% and profit fell 25.0% compared with a year earlier. Earnings per share were ₹8.88 (as of 3 November 2026). ### What is Associated Alcohols & Breweries's market cap? Associated Alcohols & Breweries Ltd's market capitalisation is ₹1,128 Cr at a share price of ₹562.35. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Associated Alcohols & Breweries performing? Associated Alcohols & Breweries Ltd's share price has been falling for 59 weeks. In its latest quarter, revenue rose 5.2% and profit fell 25.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 22 weeks running (as of 3 November 2026). ### Will Associated Alcohols & Breweries's share price go up? This page does not forecast Associated Alcohols & Breweries Ltd's share price. What it shows instead: the share price is ₹562.35, and it has been falling for 59 weeks. Its P/E of 13.7× is higher than 10% of its own last 11 years (as of 3 November 2026). ### Who owns Associated Alcohols & Breweries? Promoters own 62.4% of Associated Alcohols & Breweries Ltd, foreign institutions 1.0%, domestic institutions 1.4% and the public 35.3% (latest quarter). The biggest change over the last two years: Promoters raised their stake by 3.1 percentage points over 8 quarters (as of 3 November 2026). ### Where is Associated Alcohols & Breweries in its business cycle? Associated Alcohols & Breweries Ltd's FY26 operating margin was 14.0%, against a 7-year range of 3.6% to 14.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 11.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Associated Alcohols & Breweries story? The main question: yearly earnings per share moved −2.2% while the share price moved −53.8%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Associated Alcohols & Breweries a stock worth studying right now? What the numbers show: Associated Alcohols & Breweries Ltd's P/E is near the low end of its own history, higher than only 10% of past readings, and its quarterly results are still getting worse. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Associated Alcohols & Breweries share price forecast for 2026? What management itself guided: IMFL proprietary volume growth around 30.0% in FY27; one or two proprietary brands reaching million-case scale within 2-3 years. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india

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