GM Breweries LimitedQ1 FY27 Results & Financial Update

GM Breweries Limited: Q1 FY27 consolidated results and company financials – revenue ₹802.90 Cr, PAT ₹37.74 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.

NSE: GMBREWPublished 21 Oct 2026Updated 21 Oct 2026~6 min read
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Revenue from operations₹802.90 CrReported Q1 FY27
Profit after tax₹37.74 CrReported Q1 FY27
EPS₹16.52Reported Q1 FY27

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Quarterly Results AnalysisExplore GM Breweries Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.

Quarter overview

Quarterly earnings analysis

01

GM Breweries Limited reported consolidated revenue from operations of INR 802.90 crore for the quarter ended June 30, 2026, alongside total income of INR 808.45 crore which included INR 5.55 crore of other income.

02

Profit before tax (PBT) for Q1 FY27 stood at INR 50.43 crore, after accounting for total quarterly expenses of INR 758.02 crore.

03

Net profit after tax (PAT) for the quarter was recorded at INR 37.74 crore, delivering a basic and diluted earnings per share (EPS) of INR 16.52 on shares of INR 10 face value.

04

Tax expenses for the period totalled INR 12.69 crore, covering both current and deferred tax provisions.

05

The company's cost structure for the quarter was dominated by statutory levies, with excise duty, VAT, and TCS aggregating to INR 603.32 crore within total expenses.

06

Cost of materials consumed stood at INR 138.25 crore, while employee benefits expenses were recorded at INR 0.295 crore and finance costs remained minimal at INR 0.07 crore.

07

Depreciation and amortisation expenses for the quarter were reported at INR 1.50 crore, and other expenditure accounted for INR 13.11 crore.

08

The board noted that the company's operations remain strictly confined to a single primary business segment, namely country liquor.

01 · Business model

What does GM Breweries do?

GM Breweries Limited is an established player in the Indian alcoholic beverages industry, engaged primarily in the manufacture and supply of country liquor.

The company operates out of its registered facility located in Prabhadevi, Mumbai, with its manufacturing plant situated in Virar (East), within the Palghar district of Maharashtra.

GM Breweries generates its revenue streams predominantly through the sale of country liquor products, capturing local consumer demand within its designated operating footprint.

The company maintains a streamlined operating model focused on regional distribution, regulatory compliance regarding excise duties, and cost-controlled production processes.

02 · Financial snapshot

Current-quarter financial snapshot

MetricQ1 FY27
Revenue from operations₹802.90 Cr
Total income₹808.45 Cr
Profit before tax₹50.43 Cr
Profit after tax₹37.74 Cr
EPS₹16.52

Financial interpretation

What the reported numbers mean

Profit conversion

Profit after tax represented 4.7% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.

Pre-tax earnings

Profit before tax was equivalent to 6.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.

Operating revenue versus total income

Total income exceeded operating revenue by ₹5.55 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.

Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.

03 · Why it moved

Why the quarter looked the way it did

What drove revenue

Country Liquor Sales

Revenue from operations of INR 802.90 crore was generated exclusively from the manufacture and sale of country liquor, which represents the company's sole operating segment.

Other Income Contribution

Other income contributed INR 5.55 crore to the total income of INR 808.45 crore for the quarter ended June 30, 2026.

What drove margins

Statutory Levies Impact

Excise duty, VAT, and TCS formed the largest cost component at INR 603.32 crore, heavily influencing the gross margin profile relative to gross sales inclusive of taxes.

Raw Material and Input Costs

Cost of materials consumed was reported at INR 138.25 crore, complemented by a small inventory change adjustment of negative INR 1.18 crore in finished goods and work-in-progress.

Fixed and Operational Overhead

Depreciation and amortisation stood at INR 1.50 crore, employee benefits expenses were modest at INR 0.295 crore, and other expenditure amounted to INR 13.11 crore, keeping operating overhead contained.

04 · Strategy & new businesses

How the company is trying to change its growth mix

Real Estate Subsidiary Incorporation

The company has floated a wholly-owned subsidiary to explore opportunities in the real estate sector, with an initial capital investment of INR 1 lakh.

Subsidiary Operational Status

The newly incorporated real estate subsidiary is yet to commence business operations, with no financial transactions recorded for the quarter ended June 30, 2026.

05 · Cash flow & balance sheet

Profit is one thing. Cash and funding tell another part of the story.

Capital allocation & funding

Minimal Finance Costs

Finance costs for the quarter were restricted to INR 0.07 crore, indicating negligible debt servicing obligations during the period.

06 · Beyond the numbers

What changed beyond the numbers

Reported update

Real Estate Diversification Venture

GM Breweries set up a wholly-owned subsidiary backed by an initial capital investment of INR 1 lakh to explore business opportunities in the real estate sector, though the entity remained non-operational during Q1 FY27.

07 · Key Q&A

The quarter, answered directly

What does GM Breweries do?

GM Breweries Limited is an established player in the Indian alcoholic beverages industry, engaged primarily in the manufacture and supply of country liquor.

What is the clearest takeaway from Q1 FY27?

GM Breweries Limited reported consolidated revenue from operations of INR 802.90 crore for the quarter ended June 30, 2026, alongside total income of INR 808.45 crore which included INR 5.55 crore of other income.

What drove revenue or demand?

Revenue from operations of INR 802.90 crore was generated exclusively from the manufacture and sale of country liquor, which represents the company's sole operating segment.

What mattered most for margins or profitability?

Excise duty, VAT, and TCS formed the largest cost component at INR 603.32 crore, heavily influencing the gross margin profile relative to gross sales inclusive of taxes.

What changed operationally beyond the headline numbers?

The company has floated a wholly-owned subsidiary to explore opportunities in the real estate sector, with an initial capital investment of INR 1 lakh.

What should the next disclosure help confirm?

Future updates regarding the commencement of commercial operations or business transactions within the newly formed real estate subsidiary.

08 · Scenario calculator

Earnings sensitivity: what if growth and margins change?

Starting point

Build your own next-quarter scenario

Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.

Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.

Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%

The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.

09 · Next filing checkpoints

What the next disclosure can confirm or change

  1. 01

    Subsidiary Progress: Future updates regarding the commencement of commercial operations or business transactions within the newly formed real estate subsidiary.

  2. 02

    Core Segment Performance: Subsequent quarterly trends in country liquor volumes, material costs, and statutory duty impacts on operating margins.

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Need the concepts first?

Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.

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