DRHP Status : Not Filed
P&L Statement | 2021 | 2022 | 2023 | 2024 |
---|---|---|---|---|
Revenue | 1099.01 | 1370.41 | 1771 | 1930 |
Cost of Material Consumed | 124.96 | 148.02 | 1021 | 1194 |
Gross Margins | 88.63 | 89.2 | 42.35 | 38.13 |
Change in Inventory | -2.97 | -6.69 | -15 | -16 |
Employee Benefit Expenses | 33.14 | 37.29 | 42 | 48 |
Other Expenses | 887.46 | 1124.16 | 635 | 593 |
EBITDA | 56.42 | 67.63 | 88 | 111 |
OPM | 5.13 | 4.94 | 4.97 | 5.75 |
Other Income | 2.86 | 8.95 | 10 | 12 |
Finance Cost | 2.91 | 1.55 | 1 | 0.78 |
D&A | 5.22 | 6.04 | 6 | 8 |
EBIT | 51.2 | 61.59 | 82 | 103 |
EBIT Margins | 4.66 | 4.49 | 4.63 | 5.34 |
PBT | 54.14 | 68.97 | 91 | 114 |
PBT Margins | 4.93 | 5.03 | 5.14 | 5.91 |
Tax | 13.83 | 17.52 | 23 | 29 |
PAT | 40.31 | 51.45 | 68 | 85 |
NPM | 3.67 | 3.75 | 3.84 | 4.4 |
EPS | 47.42 | 60.53 | 80 | 100 |
Financial Ratios |
2021 | 2022 | 2023 | 2024 |
---|---|---|---|---|
Operating Profit Margin | 5.13 | 4.94 | 4.97 | 5.75 |
Net Profit Margin | 3.67 | 3.75 | 3.84 | 4.4 |
Earning Per Share (Diluted) | 47.42 | 60.53 | 80 | 100 |
Assets | 2021 | 2022 | 2023 | 2024 |
---|---|---|---|---|
Fixed Assets | 58.41 | 61.21 | 72 | 84 |
CWIP | 7.3 | 8.02 | 10 | 12 |
Investments | 2.56 | 3.73 | 4 | 7 |
Trade Receivables | 78.68 | 76.34 | 98 | 114 |
Inventory | 77.08 | 89.87 | 117 | 132 |
Other Assets | 65.94 | 109.49 | 133 | 186 |
Total Assets | 289.97 | 348.66 | 434 | 535 |
Liabilities | 2021 | 2022 | 2023 | 2024 |
---|---|---|---|---|
Share Capital | 4.25 | 4.25 | 4.25 | 4.25 |
FV | 5 | 5 | 5 | 5 |
Reserves | 154.13 | 206.84 | 276 | 362 |
Borrowings | 5.39 | 4.62 | 4 | 4 |
Trade Payables | 74.55 | 77.62 | 93 | 96 |
Other Liabilities | 51.65 | 55.33 | 56.75 | 68.75 |
Total Liabilities | 289.97 | 348.66 | 434 | 535 |
​Mohan Meakin Limited is a prominent Indian company with a rich history in the beverage and food processing industries. Established in 1855 by Edward Dyer in Kasauli, Himachal Pradesh, it began as Asia's first brewery, introducing the iconic Lion beer to the market. Over the years, the company underwent several transformations, including a significant merger with H.G. Meakin's enterprises in 1937, leading to the formation of Dyer Meakin Breweries. Post-independence, in 1949, Narendra Nath Mohan acquired a majority stake, and the company was eventually renamed Mohan Meakin Breweries in 1967 and later Mohan Meakin Limited in 1982
Strengths:
Strong Financial Performance: Mohan Meakin has demonstrated robust financial health, with revenues increasing from ₹1,380 crore in FY22 to ₹1,780 crore in FY23. Profit after tax also rose from ₹51 crore to ₹68 crore during the same period.
Debt-Free Status: The company maintains a debt-free position, enhancing its financial flexibility and resilience.
High Return on Equity (ROE): In FY21, Mohan Meakin reported an impressive ROE of 25%, indicating efficient utilization of shareholder equity. ​
Diversified Product Portfolio: Beyond alcoholic beverages, the company has diversified into non-alcoholic drinks, breakfast cereals, and glass manufacturing, reducing dependency on a single revenue stream. ​
Strong Brand Legacy: With over 150 years in the industry, Mohan Meakin enjoys significant brand recognition and customer loyalty, particularly for its flagship product, Old Monk
Weaknesses:
Regulatory Risks: The alcoholic beverages industry in India is heavily regulated, with frequent changes in laws and taxation. Such regulatory fluctuations can impact Mohan Meakin's operations and profitability
Market Competition: The company faces intense competition from both domestic and international brands, which could affect its market share and pricing power. ​
Fluctuating Raw Material Costs: Price volatility in raw materials can impact production costs and profitability. ​
Limited Liquidity of Unlisted Shares: Investing in unlisted shares like those of Mohan Meakin entails limited liquidity, making it challenging for investors to buy or sell shares quickly. ​
Dependence on Alcoholic Beverages: Despite diversification efforts, a significant portion of revenue still comes from alcoholic products, making the company vulnerable to shifts in consumer preferences and health trends.