Som Distilleries & Breweries has announced that it has obtained official authorization from the State of Telangana to distribute its renowned beer brands within the region. This development comes as Telangana emerges as one of the largest markets for beer consumption in India, presenting a significant opportunity for expansion and increased sales for the company.
In a statement, Som Distilleries expressed its anticipation for the substantial growth in sales volume in the short to medium term, following the approval. This milestone marks a pivotal step for the company as it endeavors to broaden its market reach and cater to the robust demand for beer in Telangana.
Som Distilleries and Breweries is primarily involved in the brewing, fermentation, bottling, canning, and blending of beer and Indian Made Foreign Liquor (IMFL). Additionally, the company supplies draught beer from its manufacturing facilities.
The company’s consolidated net profit surged by 17.97% to Rs 18.84 crore in Q4 FY24, compared to Rs 15.97 crore in Q4 FY23. Revenue from operations (excluding excise duty) also witnessed a notable increase, jumping by 43.27% to Rs 381.59 crore in Q4 FY24, compared to Rs 266.34 crore reported in the same quarter last year.
Despite these positive developments, the company’s stock has experienced a decline, with a decrease of 5.10% to currently trade at Rs 134.10 on the BSE.
