Key Quantitative Figures

Financial Performance (FY 2025-26 vs FY 2024-25):

  • Revenue from Operations: ₹301.16 Crore (up 27.53% from ₹236.12 Crore)
  • Profit After Tax (PAT): ₹32.14 Crore (up 39.07% from ₹23.11 Crore)
  • Profit Before Tax (PBT): ₹34.52 Crore (up 16.73% from ₹29.58 Crore)
  • EBITDA: ₹54.56 Crore (up 12.72% from ₹48.40 Crore)
  • Total Income: ₹310.37 Crore (up 30.21% from ₹238.36 Crore)
  • Total Expenses: ₹255.81 Crore (up 34.67% from ₹189.95 Crore)
  • Advertising & Marketing Expenses: ₹29.37 Crore (up 225% from ₹9.03 Crore)
  • Basic & Diluted EPS: ₹16.08 (up from ₹13.94)
  • Equity Share Capital: ₹21.45 Crore (up 28.76% from ₹16.66 Crore)
  • Reserves & Surplus: ₹222.86 Crore (up 180.85% from ₹79.35 Crore)
  • Borrowings: ₹210.54 Crore (up 20.94% from ₹174.10 Crore)

Dividend:

  • Final dividend recommended: 10% (₹1 per equity share of ₹10 face value)
  • Total dividend payout: ₹214.50 Lakhs (subject to shareholder approval)
  • Dividend paid for FY24-25: 14% (₹1.40 per share), amounting to ₹233.22 Lakhs

IPO Details (July 2025):

  • Total issue size: 57,91,200 equity shares
  • Fresh issue: 47,91,200 equity shares
  • Offer for Sale: 10,00,000 equity shares
  • Issue price: ₹286 per share (including premium of ₹276)
  • Total proceeds: ₹165.63 Crore
  • Oversubscription: 4.1 times
  • Listing date: July 23, 2025 on BSE SME Platform

IPO Proceeds Utilization:

  • Working capital requirements: ₹100.64 Crore allocated, ₹94.64 Crore utilized
  • Pre-payment of borrowings: ₹11.45 Crore allocated and fully utilized
  • General corporate purposes: ₹7.77 Crore allocated and fully utilized
  • Unutilized amount: ₹6.00 Crore temporarily invested in fixed deposits

Operational Metrics:

  • Product portfolio: 100+ global brands across spirits, wines and liqueurs
  • Market presence: 25+ states and Union Territories in India
  • Employee strength: 222 employees (196 male, 26 female) as of March 31, 2026
  • CSR expenditure: ₹65.45 Lakhs

Dates of Action

  • Annual General Meeting: June 25, 2026 at 3:30 PM
  • Record date for dividend: June 18, 2026
  • IPO dates: Anchor issue (July 15, 2025), Offer period (July 16-18, 2025), Allotment (July 21, 2025), Listing (July 23, 2025)
  • Board meetings: 9 meetings held during FY 2025-26

Parties Involved

Regulators:

  • BSE Limited
  • SEBI
  • Registrar of Companies

Auditors & Professionals:

  • Statutory Auditors: Shah Gupta & Co., Chartered Accountants
  • Secretarial Auditors: Agrawal Mundra & Associates, Company Secretaries
  • Internal Auditors: H.D. Raiyani & Associates (FY25-26); MYNS & Co. LLP (appointed for FY26-27)
  • RTA: MUFG Intime India Private Limited

Bankers:

  • ICICI Bank Limited
  • Kotak Mahindra Bank Limited
  • HDFC Bank Limited
  • CSB Bank Limited
  • Indusind Bank Limited
  • Union Bank of India

Related Parties (Transactions disclosed):

  • Infinity Global Supply Chain Limited (lease transactions)
  • Directors and their relatives (loan transactions, remuneration)

Financial Impact

  • The corrigendum relates to an editorial correction of a product image on page 45 and has no material financial impact
  • The company confirms no other changes to the Annual Report beyond this correction

Capital Structure Impact

  • Post-IPO share capital increased to ₹21.45 Crore comprising 2,14,49,961 equity shares
  • Promoter holding: 62.10% (reduced from 79.96% pre-IPO)
  • Public holding: 37.90%
  • All shares in dematerialized form

Cash Flow Implications

  • Dividend payout of ₹214.50 Lakhs if approved
  • Tax deducted at source on dividend payments

Forward-looking Guidance

  • Management highlights India's premium alcobev market expansion as a structural growth driver
  • Focus on portfolio expansion with global brands and geographic reach across Indian subcontinent
  • Continued emphasis on premiumization trends and experiential marketing

Corporate Governance

  • Board comprises 7 directors (2 executive, 5 independent)
  • All committees (Audit, NRC, SRC, CSR) constituted and meeting regularly
  • ESOP scheme approved for up to 10,00,000 options
  • Whistleblower mechanism in place with no complaints received

Risk Factors

  • Regulatory risks from state-specific excise laws
  • Foreign currency exposure on imports
  • Competition in premium alcobev segment
  • Dependence on key personnel and brand partnerships

CSR Activities

  • Focus on para sports initiatives in Maharashtra
  • Community welfare programs in Gujarat through Jivan Jyot Foundation
  • Total CSR obligation: ₹49.76 Lakhs, spent ₹65.45 Lakhs including previous years' unspent amount