GM Breweries rallies ahead of Q4 results

The stock rallied 11% to Rs 1,076 on BSE, trading near to its record high of Rs 1,160 touched on January 8 this year.

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GM Breweries has rallied 11% to Rs 1,076 on the BSE on back of heavy volumes ahead of its fourth quarter (January-March 2016) results tomorrow.

A meeting of the board of directors of the company will be held on April 05, 2016, to consider the audited financial results for the quarter / tear ended March 31, 2016, GM Breweries said in a statement.

The board would consider declaration of final dividend, if any, on the equity shares of the company, for the financial year 2015-2016 (FY16), it added.

The company engaged in breweries & distilleries business had reported more than 100% growth in net profit during the last quarters of FY16 due to lower raw material cost.

For the first nine months (April-December) of FY16,  GM Breweries posted an over three-fold jump in net profit at Rs 40.89 crore against Rs 12.91 crore in the same period last fiscal.

The stock currently trading near to its record high of Rs 1,160 touched on January 8 this year. In FY16, it outperformed the market by surging 729% as compared to 9% decline in the S&P BSE Sensex.

The trading volumes on the counter jumped more than three-fold with a combined 250,565 shares changed hands on the BSE and NSE till 01:08 PM.

GM Breweries markets its products -- brandy, rum and whisky -- under brand names Pioneer Doctor Brandy, Pioneer Special Doctor Brandy, Hot Shot Rum and Reporter Choice Whisky.