Som Distilleries advances after acquisition of brewery unit

Som Distilleries & Breweries rose 1.76% to Rs 239.80 at 10:47 IST on BSE after the company's subsidiary acquired a brewery unit in Odisha for Rs 46 crore.

The announcement was made after market hours yesterday, 4 July 2018.

Meanwhile, the S&P BSE Sensex was down 61.53 points, or 0.17% to 35,583.87

On the BSE, 13,000 shares were traded in the counter so far compared with average daily volumes of 20,000 shares in the past two weeks. The stock had hit a high of Rs 242.85 and a low of Rs 238.35 so far during the day. The stock hit a record high of Rs 322.65 on 8 May 2018. The stock hit a 52-week low of Rs 127.25 on 4 July 2017.

Som Distilleries & Breweries Odisha, a subsidiary company of Som Distilleries & Breweries has acquired a brewery unit in Odisha. The facility is expected to be operational in the next 3-4 months. The unit has been acquired at a cost of Rs 46 crore. The capacity of the unit is 42 lakh cases per annum. The company expects additional expenditure of Rs 25-30 crore on the upgradation of the manufacturing asset.

On a consolidated basis, net profit of Som Distilleries & Breweries rose 148.24% to Rs 6.33 crore on 50.49% rise in net sales to Rs 101.34 crore in Q4 March 2018 over Q4 March 2017.

Som Distilleries & Breweries operates a brewery, a distillery, support industries and a distribution network across the country.

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