Asgard Alcobev Q2 Revenue Doubles To Rs48.93 Crore As Brewing Business Gains Momentum
FinTech BizNews Service
Mumbai, 14 November, 2026: Asgard Alcobev Limited reported a sharp increase in consolidated revenue and profitability for the second quarter of FY27, supported by improved manufacturing efficiency and higher capacity utilisation following its transition to the brewing business.
Revenue from operations surged 102.84% year-on-year to Rs48.93 crore during the July-September quarter, compared with Rs24.12 crore in the corresponding period last year.
Consolidated net profit jumped to Rs2.55 crore from Rs16.95 lakh a year earlier, registering growth of 1,402.30%.
However, the year-on-year comparison reflects the company's transition to brewing operations following its acquisition of a controlling stake in CMJ Breweries in February 2026.
Profitability Improves
Despite revenue declining 7.75% sequentially from Rs53.04 crore in Q1 FY27, the company recorded a significant improvement in operating profitability.
EBITDA increased 42.31% quarter-on-quarter to Rs7.33 crore from Rs5.15 crore.
EBITDA margin expanded by 527 basis points to 14.98%, compared with 9.71% in the preceding quarter.
Net profit also increased 50.48% sequentially from Rs1.69 crore, reflecting improved operating efficiencies and cost optimisation.
Production Gains
The company's brewing operations recorded higher production volumes during the quarter.
Total production increased 18.6% sequentially to 13.82 lakh cases, while dispatches rose 14% to 13.58 lakh cases.
Capacity utilisation improved to 78.6% from 63.1% in the previous quarter.
Canned beer production surged 67.7% to 4.99 lakh cases, accounting for 36.1% of overall production.
For the first half of FY27, consolidated revenue reached Rs101.96 crore, while EBITDA stood at Rs12.48 crore and net profit at Rs4.24 crore.
Expansion Plans
Asgard Alcobev plans to expand its annual manufacturing capacity from 8.4 million cases to 10.8 million cases by March 2027, representing an increase of approximately 28.6%.
The company is also evaluating opportunities to expand beyond its existing North-Eastern and Eastern India markets.
Managing Director Ronak Jain said the company's strategy would focus on higher capacity utilisation, manufacturing expansion and stronger contract manufacturing partnerships.
The company is targeting EBITDA of Rs24-28 crore for FY27, supported by higher production volumes and operating efficiencies.
Meanwhile, gross borrowings declined by Rs11.70 crore during the first half to Rs60.84 crore as of September 30, 2026.
