Associated Alcohols & Breweries Ltd. (ASALCBR) AI Stock Analysis

Associated Alcohols & Breweries Ltd.

(NSE:ASALCBR)

Select Model

Rating:55Neutral

Price Target:INR 571.00▲(2.41% Upside)

Action:reiterated

Date:08/26/26

Overall score is held back primarily by weak cash-flow quality (negative free cash flow over multiple years) and a clearly bearish technical trend (price below key moving averages with negative MACD). These are partly offset by a strong, low-leverage balance sheet and reasonable valuation, but low dividend yield provides limited downside cushion.

Positive Factors

Low LeverageVery low leverage gives the company financial flexibility through demand or margin cycles and reduces dependence on external funding. This supports resilience, preserves capacity for investment, and limits balance-sheet pressure when operating conditions weaken.

Negative Factors

Persistent Negative Free Cash FlowSeveral consecutive years of negative free cash flow indicate that accounting profits are not consistently converting into available cash. This can constrain internally funded growth, increase reliance on financing, and elevate funding risk even while current leverage remains low.

Associated Alcohols & Breweries Ltd. (ASALCBR) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 13.76B
Dividend Yield: 0.36%
Average Volume (3M): 3,310
Price to Earnings (P/E): 12.9
Beta (1Y): 1.81
Revenue Growth: -5.25%
EPS Growth: -10.44%
Country: India
Employees: 567
Sector: General
Sector Strength: 55
Industry: Beverages - Alcoholic

Associated Alcohols & Breweries Ltd. Business Overview & Revenue Model

Company Description

Operating within India, Associated Alcohols & Breweries Limited specializes in the production and bottling of alcoholic beverages. Their product portfolio includes extra neutral alcohol (ENA), alongside a diverse range of Indian Made Indian Liquor (I...

How the Company Makes Money

ASALCBR makes money by generating revenue from the sale of its alcoholic beverage products through applicable distribution channels (e.g., wholesale/distributors, retail, on-premise). Beyond this general model, specific information on its key revenue...

Associated Alcohols & Breweries Ltd. Financial Statement Overview

Summary

Mixed fundamentals: profitability remains solid and the balance sheet is strong with low leverage, but cash generation is a major weakness (multi-year negative free cash flow and weak conversion of earnings to operating cash). FY2026 also saw a notable revenue pullback and continued gross-margin compression risk.

Income Statement

64Positive

Balance Sheet

82Very Positive

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	10.19B	10.19B	10.76B	7.60B	7.01B	5.13B
Gross Profit	3.52B	2.80B	3.47B	2.52B	3.27B	1.10B
EBITDA	1.49B	1.49B	1.32B	863.59M	712.41M	961.91M
Net Income	884.55M	884.55M	814.16M	506.23M	415.56M	608.06M
Balance Sheet
Total Assets	8.56B	8.56B	7.18B	6.19B	5.38B	4.00B
Cash, Cash Equivalents and Short-Term Investments	278.24M	278.24M	11.88M	429.20M	631.00M	805.12M
Total Debt	689.19M	689.19M	1.02B	1.08B	1.00B	54.41M
Total Liabilities	1.61B	1.61B	1.97B	1.96B	1.75B	873.73M
Stockholders Equity	6.95B	6.95B	5.20B	4.23B	3.63B	3.13B
Cash Flow
Free Cash Flow	264.98M	-97.58M	-121.26M	-756.76M	-861.16M	395.00M
Operating Cash Flow	556.66M	474.17M	739.15M	284.20M	67.63M	792.33M
Investing Cash Flow	-471.47M	-895.37M	-830.88M	-324.88M	-942.24M	-699.80M
Financing Cash Flow	-2.30M	517.66M	9.28M	126.57M	862.65M	-85.40M

Associated Alcohols & Breweries Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price557.55

Price Trends

50DMA635.35Negative

100DMA717.87Negative

200DMA772.13Negative

Market Momentum

MACD-27.13Negative

RSI37.84Neutral

STOCH33.79Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASALCBR, the sentiment is Negative. The current price of 557.55 is below the 20-day moving average (MA) of 568.63, below the 50-day MA of 635.35, and below the 200-day MA of 772.13, indicating a bearish trend. The MACD of -27.13 indicates Negative momentum. The RSI at 37.84 is Neutral, neither overbought nor oversold. The STOCH value of 33.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ASALCBR.

Associated Alcohols & Breweries Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:ASALCBR against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:GMBREW	66Neutral	INR 17.94B	10.44	―	1.14%	20.49%	20.90%
IN:SULA	60Neutral	INR 10.63B	43.54	―	1.56%	-1.54%	-56.95%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:ASALCBR	55Neutral	INR 10.77B	12.86	―	0.36%	-5.25%	-10.44%
IN:SDBL	54Neutral	INR 14.23B	-45.83	―	―	-33.51%	-130.05%
IN:TI	53Neutral	INR 119.30B	-152.43	―	0.21%	150.10%	-122.03%
IN:GLOBUSSPR	52Neutral	INR 21.34B	19.30	―	0.98%	7.88%	295.37%

* General Sector Average

Performance Comparison

IN:ASALCBR and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:ASALCBR	Associated Alcohols & Breweries Ltd.	557.55	-632.63	-53.15%
IN:GLOBUSSPR	Globus Spirits Limited	668.75	-458.17	-40.66%
IN:GMBREW	G.M. Breweries Ltd.	791.45	-445.06	-35.99%
IN:SDBL	Som Distilleries & Breweries Ltd.	72.13	-58.12	-44.62%
IN:SULA	Sula Vineyards Ltd.	127.90	-122.97	-49.02%
IN:TI	Tilaknagar Industries Limited	471.75	-31.48	-6.26%

Associated Alcohols & Breweries Ltd. Corporate Events

Associated Alcohols & Breweries Clears Key Resolutions at 37th AGM

Sep 17, 2026

Associated Alcohols & Breweries Ltd. has reported the voting results from its 37th Annual General Meeting, held via video conferencing on September 16, 2026, with its Indore corporate office deemed the venue. Shareholders approved the audited sta...

Associated Alcohols Secures Additional 87.4 Lakh Litre Ethanol Allocation After Supreme Court Order

Aug 17, 2026

Associated Alcohols & Breweries Ltd. has received an additional allocation of 87.4 lakh litres of ethanol from Bharat Petroleum Corporation Ltd., following a Supreme Court order on the allocation methodology for the fourth quarter of the 2025-26...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 26, 2026

Associated Alcohols & Breweries Ltd. AI Stock Analysis