GM Breweries LimitedQ2 FY27 Results & Financial Update
GM Breweries Limited: Q2 FY27 consolidated results and company financials – revenue ₹860.62 Cr, PAT ₹39.29 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore GM Breweries Q2 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
GM Breweries Limited reported consolidated total revenue from operations of INR 860.62 crore for the quarter ended September 30, 2026, marking a sequential expansion of 7.19% compared to INR 802.90 crore recorded in the preceding quarter ended June 30, 2026.
Total income for the second quarter of financial year 2027 reached INR 864.76 crore, supported by INR 4.14 crore in other income, reflecting an increase over the total income of INR 808.45 crore posted in Q1 FY27.
Profit before tax (PBT) for the quarter improved sequentially to INR 52.51 crore from INR 50.43 crore in the previous quarter, representing a growth of 4.12% quarter-on-quarter.
Consolidated net profit after tax (PAT) for Q2 FY27 stood at INR 39.29 crore, registering a sequential increase of 4.11% against INR 37.74 crore reported in the first quarter of FY27.
Basic and diluted earnings per share (EPS) for the quarter advanced to INR 17.20 compared to INR 16.52 in the immediate preceding quarter.
The net profit margin for the period stood at 4.57%, exhibiting a marginal compression of about 14 basis points compared to the 4.70% margin recorded in the June 2026 quarter due to differing top-line and bottom-line growth pacing.
GM Breweries Limited reported revenue from operations of INR 860.62 crore for the quarter ended September 30, 2026, marking an increase compared to INR 802.90 crore in the preceding quarter (Q1 FY27).
Total income for Q2 FY27 stood at INR 864.76 crore, moving up from INR 808.45 crore in the previous quarter, bolstered by other income of INR 4.14 crore.
01 · Business model
What does GM Breweries do?
GM Breweries Limited is an established alcoholic beverage enterprise primarily engaged in the manufacturing, marketing, and distribution of country liquor (desi daru) and Indian Made Foreign Liquor (IMFL).
The enterprise operates its core brewing, blending, and bottling facilities with a strong commercial footprint centered in the state of Maharashtra, serving regional consumer demand across urban and rural tiers.
The economic model relies on high-volume production of branded country liquor products, distributed through extensive licensed retail networks under strict state excise regulations and duty structures.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹860.62 Cr | ₹802.90 Cr |
| Total income | ₹864.76 Cr | ₹808.45 Cr |
| Profit before tax | ₹52.51 Cr | ₹50.43 Cr |
| Profit after tax | ₹39.29 Cr | ₹37.74 Cr |
| EPS | ₹17.20 | ₹16.52 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 4.6% 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.
Profit before tax was equivalent to 6.1% 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.
Total income exceeded operating revenue by ₹4.14 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
Revenue from operations expanded to INR 860.62 crore in Q2 FY27, up 7.19% from INR 802.90 crore in Q1 FY27, indicating steady distribution volumes and offtake during the quarter.
Total income reached INR 864.76 crore, bolstered by INR 4.14 crore of other income, complementing core operating revenue.
Revenue from operations expanded to INR 860.62 crore in Q2 FY27 from INR 802.90 crore in Q1 FY27, reflecting higher sequential volumes or realizations within core operating markets.
What drove margins
PBT expanded by 4.12% sequentially to INR 52.51 crore, while PAT rose 4.11% to INR 39.29 crore, keeping earnings pace slightly behind top-line growth.
PAT margin moderated slightly to 4.57% for Q2 FY27 compared to 4.70% in Q1 FY27.
Other income contributed INR 4.14 crore to total income during the quarter, compared to INR 5.55 crore in the preceding quarter.
Tax expense for Q2 FY27 was recorded at INR 13.22 crore, moving up from INR 12.69 crore in Q1 FY27 in line with higher taxable earnings.
04 · Reported developments
What changed operationally
Both operating revenue and net profit exhibited positive sequential growth over the first quarter of FY27, with revenue up 7.19% and PAT up 4.11%.
Net profit increased sequentially to INR 39.29 crore in Q2 FY27 from INR 37.74 crore in Q1 FY27 alongside top-line expansion.
05 · Items worth noticing
The line items that can distort a quick read
The company recognized depreciation and amortisation of INR 1.50 crore and provisions of INR 1.62 crore during the quarter.
The company reported provisions amounting to INR 1.62 crore for the quarter ended September 30, 2026.
06 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Finance costs for the quarter were maintained at a minimal INR 0.04 crore (INR 400,000), reflecting a lean debt structure.
Finance costs for the quarter were maintained at a nominal level of INR 0.04 crore, indicating minimal reliance on interest-bearing debt.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Tax Expense
Total tax expense for the quarter was reported at INR 13.22 crore against INR 12.69 crore in the previous quarter.
08 · Previous-quarter changes
What changed since the previous quarter
Compared to Q1 FY27, operating revenue increased from INR 802.90 crore to INR 860.62 crore, and PAT increased from INR 37.74 crore to INR 39.29 crore.
Revenue increased by approximately 7.19% sequentially from INR 802.90 crore in Q1 FY27 to INR 860.62 crore in Q2 FY27, accompanied by a 4.11% rise in net profit.
09 · Key Q&A
The quarter, answered directly
What does GM Breweries do?
GM Breweries Limited is an established alcoholic beverage enterprise primarily engaged in the manufacturing, marketing, and distribution of country liquor (desi daru) and Indian Made Foreign Liquor (IMFL).
What is the clearest takeaway from Q2 FY27?
GM Breweries Limited reported consolidated total revenue from operations of INR 860.62 crore for the quarter ended September 30, 2026, marking a sequential expansion of 7.19% compared to INR 802.90 crore recorded in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Revenue from operations expanded to INR 860.62 crore in Q2 FY27, up 7.19% from INR 802.90 crore in Q1 FY27, indicating steady distribution volumes and offtake during the quarter.
What mattered most for margins or profitability?
PBT expanded by 4.12% sequentially to INR 52.51 crore, while PAT rose 4.11% to INR 39.29 crore, keeping earnings pace slightly behind top-line growth.
What changed operationally beyond the headline numbers?
Total tax expense for the quarter was reported at INR 13.22 crore against INR 12.69 crore in the previous quarter.
What should the next disclosure help confirm?
Monitor upcoming quarterly financial filings for volume trends and margin stability across core product lines.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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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.
11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Subsequent Quarter Performance: Monitor upcoming quarterly financial filings for volume trends and margin stability across core product lines.
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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.