GM Breweries Q4: Net profit drops 30% to Rs 60 crore; board declares Rs 7.5 dividend

GM Breweries reported a sharp 30.5 per cent year-on-year decline in its consolidated net profit for the March quarter of FY25, falling to Rs 60.46 crore from Rs 87 crore in Q4FY24. The Mumbai-based liquor manufacturer faced margin pressure despite posting a healthy uptick in revenue, which rose over 6 per cent to Rs 663 crore during the same period.

The company also announced a dividend of Rs 7.5 per equity share, subject to shareholder approval. The stock was trading 1.65 per cent higher at Rs 652.50 on the NSE in afternoon trade.

Margins under pressure as expenses climb

Total expenses for the quarter came in at Rs 635 crore, marking a rise of nearly 6 per cent YoY and eating into the company’s operating margins. As a result, earnings per share nearly halved to Rs 26.47.

The impact of cost inflation and subdued demand weighed on the company’s profitability even as sales volumes remained stable. GM Breweries is known for manufacturing and selling country liquor (CL) and Indian-made foreign liquor (IMFL), mainly catering to the mass-market segment.

Stock recovers from 52-week low

Despite the Q4 earnings disappointment, GM Breweries’ stock showed resilience, supported by broader bullish market sentiment. The scrip has declined around 21 per cent in 2025 so far and had touched a 52-week low of Rs 579.95 in March. However, it is still well below its 52-week high of Rs 1,049, registered in September 2024.

Analysts suggest that the proposed dividend and revival in volumes could offer some support to the stock. However, margin pressure remains a key concern going into FY26.

While the revenue growth is encouraging, rising input costs and shrinking margins have clearly impacted the Q4 performance. Investors will now track the company’s cost-control measures and demand revival in the rural and semi-urban segments, where GM Breweries has strong market presence.