Mohan Meakin Ltd. has released its results for FY24

02 September 2024

• Revenue and Profitability- The company's revenue grew by 9.0%, rising from Rs. 1771 cr. in FY23 to Rs. 1930 cr. in FY24, driven by increase in Export and increase in sale of Spirit. This led to a significant 23.8% increase in profits, from Rs. 68 cr. in FY23 to Rs. 85 cr. in FY24, which in turn boosted the EPS from Rs. 80 in FY23 to Rs. 100 in FY24.
• Financial Position- The company's total asset base increased by 23.1%, from Rs. 434 cr. in FY23 to Rs. 535 cr. in FY24, mainly due to a 1,515% increase in non-current financial asset. On the other hand, total equity grew from Rs. 280 cr. in FY23 to Rs. 366 cr. in FY24, driven by an increase in retained earnings resulting from higher profits.
• Future Prospects- The company's management is optimistic about the future growth of the alcohol and beverage industry. They have broadened their product portfolio to include both alcoholic and non-alcoholic options. Additionally, they are ramping up production to serve markets beyond Himachal Pradesh and Chandigarh, and are also expanding their exports to international markets.