MUMBAI: Som Distilleries and Breweries Odisha Pvt Ltd, a proposed subsidiary of Som Distilleries & Breweries Ltd (BSE:507514)has acquired a new brewery in Odisha at a cost of Rs 46 cr.It has a capacity to produce 42 lakh cases per annum. It will be operational in 3-4 months. Capital cost of Rs 25-30 cr is expected in upgradation of the unit, the company said in a filing with Bombay Stock Exchange.
After a recent high of 259.9, Som Distilleries has fallen to 235 levels. It has outperformed the Sensex by 65.33% but at a Price Earnings Ratio of 25.89, the stock is a bit over valued. Falling investor participation is low as evidenced from 80% drop in delivery volume on Wednesday.Quarterly results (Q4FY18) were encouraging with net profit growth of 148.1% at Rs 6.33 cr and net sales growth of 50.48% at Rs 101.34 cr.