SOM Distilleries launches ‘Woodpecker’ beer in Karnataka; stock soars 7%
Source: Business Standard
The buying interest in the stock came after the company launched ‘Woodpecker,’ India’s first twist cap beer, in Karnataka.
“We are proud to introduce India’s first-ever twist cap beer, Woodpecker, to the Karnataka market. This innovation underscores our commitment to quality and innovation. We’ve already been making waves in Karnataka with our products over the past three years,” said JK Arora, chairman and managing director of SOM Distilleries and Breweries Limited.
At around 1:02 PM, shares of SOM Distilleries & Breweries were up 3.96 per cent or Rs 10.5 at Rs 124.55 per share. BSE Sensex at around the same time traded 4.35 points higher at 82,921.9.
The company launched two Woodpecker beer variants in the state: Woodpecker Glide, a premium mild beer, and Woodpecker Crest, a strong, bold brew.
The listed alcobev company targets sales of Rs 1,600 crore by financial year 2025.
The beer maker told Business Standard that it planned to build a new manufacturing plant in either of the states of Uttar Pradesh, West Bengal, Telangana, Andhra Pradesh, or Tamil Nadu by the end of FY25. READ MORE
As per its filing, the beer is made of imported two-row barley and Indian Sharbati wheat malts and hops sourced from the Rainier region of Germany, the beer stands out as India’s first to incorporate a blend of two malts.
SOM Distilleries & Breweries Q1FY25 results
For Q1 FY25, SOM Distilleries & Breweries Ltd reported a profit after tax (PAT) of Rs 37.62 crore for the quarter ended June 30, marking a growth of 11.7 per cent compared to Rs 33.67 crore in Q1 FY24. The company’s revenue for the quarter stood at Rs 1012.7 crore against Rs 758.62 crore a year ago.
In the past one year, the shares of SOM Distilleries & Breweries share have lost 8 per cent against BSE Sensex’s rise of 17.5 per cent.
First Published: Sep 16 2024 | 2:09 PM IST
