Mohan Meakin Delivers Double-Digit Revenue Growth in FY25

28 May 2025

Financial Performance (FY25 vs FY24): Mohan Meakin delivered a strong top‐line performance in FY25, with consolidated revenue from operations rising 11.5% YoY to ₹2,151Cr—driven by its core alcoholic business, which grew 11.7% to ₹2,136 Cr (vs. ₹1,912 Cr in FY24)—while the non-alcoholic segment saw a 14.0% decline to ₹16 Cr (vs. ₹18 Cr). The alcoholic portfolio thus accounted for 99.3% of operating revenue (vs. 99.1% in FY24), underscoring its dominance, and total income (including other income) advanced 11.6% to ₹2,166 Cr.

Operational Metrics (FY25 vs FY24): Operationally, segment performance was sharply divergent: the alcoholic division’s double-digit growth not only fueled overall revenue expansion but also improved its share of revenue from operations from 99.1% to 99.3%, while the non-alcoholic line’s contraction reduced its contribution from 0.9% to 0.7%. This skewed mix, combined with disciplined cost control (expenses up 11.2% vs. revenue up 11.6%), supported margin gains—PBT margin expanded to 6.4% (vs. 5.9%) and net margin rose to 4.7% (vs. 4.4%). Finance costs eased to ₹0.7 Cr (vs. ₹0.8 Cr), further bolstering profitability.

Growth Outlook: Looking ahead, Mohan Meakin is well-positioned to leverage its alcoholic portfolio’s strong growth by continuing premiumization and targeted capacity investments, while addressing the non-alcoholic segment’s setback through innovation or selective rationalization. With a fortified balance sheet—total assets up 21.9% to ₹652 Cr, equity up 28.3% to ₹470 Cr, and debt-to-equity down to 0.4x—management has the financial flexibility to invest in brand-building and working capital optimization, aiming to sustain margin improvements and deliver balanced, profitable growth across both segments.
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