Som Distilleries posts 30 pc jump in 9M sales at Rs 365 crore

Integrated alcobev player Som Distilleries and Breweries Ltd has reported consolidated sales for the nine months of current financial year ended December 2019 (9M FY20) at Rs 365 crore, up from Rs 280 crore for the same period last year.

The growth of 30.32 per cent was despite weak demand and off-season, it said.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) on net sales stood at Rs 48 crore which was higher by 8.1 per cent as compared to the same period last year.

The consolidated EBIDTA margin was lower at 13.18 per cent in 9M FY20 due to higher input costs. Consolidated profit after tax for the nine months ending December stood at Rs 20 crore.

"Our performance in first nine months of the year has been in line with our expectations and are poised to capitalise on the upcoming peak season demand," said J K Arora, Chairman of Som Group of Companies.

"In general, industry demand for beer was impacted by prolonged monsoon in most parts of the country. Our gross margins were impacted by raw materials cost pressures, including higher concentration of new glass bottles," he said.

On standalone basis, the sales stood at Rs 258 crore for the nine months ended December 2019 as against Rs 237 crore for the same period last year, marking a growth of close to 9 per cent.

The standalone EBDITA was Rs 38 crore at a margin of 14.7 per cent and profit after tax was at Rs 20 crore, the company said in a statement.

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