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Multibagger brewery stock Asgard Alcobev shares will be in focus on Monday, November 16, after the brewery company announced a sharp improvement in its September-quarter performance, with revenue more than doubling and net profit rising over 14 times year-on-year.
The stock, which has delivered a multibagger 325% return over four years, also has a 1:10 stock split in its corporate-action history. Its latest results reflect the company's transition towards a brewing-led business following its acquisition of a controlling stake in CMJ Breweries in February 2026.
Asgard Alcobev reported consolidated revenue from operations of ₹48.93 crore in Q2 FY27, up 102.84% from ₹24.12 crore in the corresponding quarter last year. Consolidated profit after tax (PAT) increased to ₹2.55 crore from ₹16.95 lakh, marking growth of 1,402.3%.
EBITDA rose to ₹7.33 crore from ₹88.97 lakh a year earlier. Sequentially, EBITDA increased 42.31%, while its margin expanded to 14.98% from 9.71% in Q1 FY27, an improvement of 527 basis points. PAT grew 50.48% quarter-on-quarter.
Operationally, production increased 18.6% sequentially to 13.82 lakh cases, while dispatches rose 14% to 13.58 lakh cases. Capacity utilisation improved to 78.6% from 63.1%. Can production climbed 67.7% to 4.99 lakh cases, accounting for 36.1% of total production.
For the first half of FY27, revenue stood at ₹101.96 crore, up 125.17%, while PAT increased 416.08% to ₹4.24 crore. Gross borrowings declined from ₹72.54 crore as of March 31, 2026, to ₹60.84 crore at the end of September.
The company clarified that its line of business changed from February 17, 2026, following its transition to brewing. Consequently, prior-year figures reflect the earlier business, and operating metrics are compared sequentially.
Managing Director Ronak Jain said the quarter's performance reflected improvements in manufacturing operations and profitability following the company's transition to brewing.
"We are encouraged by our strong performance during Q2 FY27, which reflects the progress made in strengthening our manufacturing operations and improving profitability following our transition to the brewing business," Jain said.
The company is targeting EBITDA of approximately ₹24-28 crore for FY27, supported by higher production volumes, cost efficiencies and operating leverage. It is also working towards increasing annual manufacturing capacity from 8.4 million cases to 10.8 million cases by March 2027, an expansion of approximately 28.6%.
Asgard Alcobev shares ended 1% higher at ₹35.23 on the BSE on Friday, November 13. The small-cap stock has gained 8% over one month and 17% in three months, but has declined 21% over the past year.
It touched a 52-week high of ₹63 in December 2025 and a 52-week low of ₹27.21 in July 2026. The company's four-year return stands at 325%, as highlighted in the stock's multibagger performance.
Asgard Alcobev executed a 1:10 stock split, converting each existing equity share with a face value of ₹10 into 10 shares with a face value of ₹1 each.
The company announced the corporate action on October 22, 2024, with January 3, 2025, set as both the ex-split date and record date. Shareholders eligible on the record date received 10 shares for every one share held before the split.
The subdivision adjusted the number of shares and the corresponding market price proportionately, without changing the overall value of an investor's holding solely due to the split.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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