G.M. Breweries Ltd. (GMBREW) AI Stock Analysis

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G.M. Breweries Ltd.

(NSE:GMBREW)

Select Model

Rating:70Outperform

Price Target:INR 871.00▲(1.20% Upside)

Action:reiterated

Date:10/09/26

The stock’s upper-mid score reflects strong balance sheet health and improving profitability offset by negative recent cash flows and a weak price trend, with a reasonable valuation supporting the rating but not fully compensating for cash flow and revenue volatility risks.

Positive Factors

Strong Operating MarginsStrong net and EBIT margins indicate the company is converting sales into substantial operating and bottom-line profit. If these margins remain broadly durable, they provide resilience against moderate cost pressure and create internal capacity to support investment, dividends, or balance-sheet strength.

Negative Factors

Negative 2026 Cash GenerationThe shift to negative operating and free cash flow is a material deterioration because reported earnings are not currently translating into cash. Persistent weakness would restrict internally funded growth, dividends, and debt-free investment, while increasing reliance on working-capital improvement.

G.M. Breweries Ltd. (GMBREW) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 19.66B
Dividend Yield: 1.04%
Average Volume (3M): 4,186
Price to Earnings (P/E): 11.4
Beta (1Y): 1.04
Revenue Growth: 20.49%
EPS Growth: 20.90%
Country: India
Employees: 227
Sector: General
Sector Strength: 55
Industry: Beverages - Alcoholic

G.M. Breweries Ltd. Business Overview & Revenue Model

Company Description

G.M. Breweries Limited is an Indian firm dedicated to the production and distribution of various alcoholic beverages across the nation. Its diverse range of spirits includes both domestically manufactured foreign liquor (IMFL) and traditional country...

G.M. Breweries Ltd. Financial Statement Overview

Summary

Overall financial performance is solid, driven by a debt-light balance sheet and improved margins, but tempered by volatile revenue and a sharp recent deterioration in operating and free cash flows.

Income Statement

72Positive

Balance Sheet

92Very Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	8.18B	7.48B	14.61B	14.09B	5.94B	17.78B
Gross Profit	2.50B	2.34B	1.63B	1.51B	1.59B	14.35B
EBITDA	2.29B	2.11B	1.18B	1.87B	1.37B	1.24B
Net Income	1.73B	1.57B	1.29B	1.52B	998.65M	933.60M
Balance Sheet
Total Assets	12.85B	12.25B	10.98B	9.17B	7.69B	6.68B
Cash, Cash Equivalents and Short-Term Investments	20.50M	111.05M	939.21M	125.30M	232.21M	259.80M
Total Debt	0	345.19M	557.03M	0	0	0
Total Liabilities	1.48B	1.47B	1.59B	951.20M	874.01M	769.84M
Stockholders Equity	11.37B	10.78B	9.39B	8.22B	6.82B	5.91B
Cash Flow
Free Cash Flow	0	-1.41B	1.62B	592.68M	2.03B	974.69M
Operating Cash Flow	0	-956.25M	1.62B	592.68M	960.38M	974.69M
Investing Cash Flow	0	1.14B	-1.49B	-484.91M	-867.80M	-949.18M
Financing Cash Flow	0	-174.51M	-133.69M	-113.38M	-91.77M	-73.25M

G.M. Breweries Ltd. Technical Analysis

Technical Analysis SentimentNeutral

Last Price860.70

Price Trends

50DMA888.61Negative

100DMA901.35Negative

200DMA932.95Negative

Market Momentum

MACD-9.94Negative

RSI53.04Neutral

STOCH89.80Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GMBREW, the sentiment is Neutral. The current price of 860.70 is above the 20-day moving average (MA) of 827.86, below the 50-day MA of 888.61, and below the 200-day MA of 932.95, indicating a neutral trend. The MACD of -9.94 indicates Negative momentum. The RSI at 53.04 is Neutral, neither overbought nor oversold. The STOCH value of 89.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:GMBREW.

G.M. Breweries Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GMBREW against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:UNITDSPR	76Outperform	INR 1.03T	60.83	―	1.20%	0.49%	0.86%
IN:GMBREW	70Outperform	INR 19.66B	11.36	―	1.04%	20.49%	20.90%
IN:RADICO	66Neutral	INR 616.22B	77.43	―	0.20%	15.74%	73.87%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:GLOBUSSPR	52Neutral	INR 22.99B	22.98	―	0.89%	10.78%	101.48%
IN:ASALCBR	50Neutral	INR 11.35B	13.09	―	0.35%	-5.25%	-10.44%
IN:TI	48Neutral	INR 128.31B	-167.75	―	0.19%	150.10%	-122.03%

* General Sector Average

Performance Comparison

IN:GMBREW and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GMBREW	G.M. Breweries Ltd.	860.70	-281.58	-24.65%
IN:ASALCBR	Associated Alcohols & Breweries Ltd.	565.35	-409.60	-42.01%
IN:GLOBUSSPR	Globus Spirits Limited	730.65	-454.84	-38.37%
IN:RADICO	Radico Khaitan Limited	4599.00	1321.22	40.31%
IN:TI	Tilaknagar Industries Limited	517.60	31.94	6.58%
IN:UNITDSPR	United Spirits Limited	1415.10	-2.28	-0.16%

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: Oct 09, 2026

G.M. Breweries Ltd. AI Stock Analysis