Top Liquor Stocks in India: Alcohol Stocks, Budget Impact, And More

Last Updated on Aug 13, 2024 by Anjali Chourasiya

Did you know the Indian alcohol market is anticipated to reach Rs. 5,482,851.3 bn by the end of 2027? This growth is driven by a steady increase in alcohol consumption over the past three decades. As a result, many Indian breweries have profited from this rising demand, evident in their improved financial performance. With the promising growth outlook, it presents an opportunity for investors to dive into the industry and add diversity to their portfolios. In this article, let’s look at the various lists of liquor stocks, an overview of the liquor industry, and factors to consider before investing in liquor stocks in India.

Best Liquor Stocks in India for 2024

Name	Market Cap (Rs. in cr.)	Close Price (Rs.)	PE Ratio	Net Profit Margin (%)	1Y Return
G M Breweries Ltd	1,889.21	826.90	12.47	21.79	74.22
Sula Vineyards Ltd	4,168.08	493.85	44.67	16.22	2.33
Aurangabad Distillery Ltd	256.87	313.25	12.28	15.04	50.13
United Spirits Ltd	100,581.71	1382.85	71.44	12.16	41.45
Tilaknagar Industries Ltd	4,648.53	241.10	33.68	9.80	42.33
Som Distilleries and Breweries Ltd	2,160.08	110.78	24.97	6.72	-17.37
Associated Alcohols & Breweries Ltd	1,378.09	762.25	27.21	6.59	69.73
Radico Khaitan Ltd	22,999.86	1719.45	87.73	6.34	22.49
United Breweries Ltd	53,407.20	2019.90	130.25	5.00	34.97
Globus Spirits Ltd	2,616.11	906.20	27.12	3.97	-22.18

Note: The list of liquor stocks listed in India based on the net profit margin is sorted using Tickertape Stock Screener on the date 4th April 2024. Below-listed filters are used to get the desired results.

• Sector > Consumer Staples > Alcoholic Beverages
• Net Profit Margin: Set to Positive – Sort from highest to lowest

Note that these stocks are in no order of preference. Please note that these stock selection criteria and the stocks are provided for informational purposes only; it is essential to conduct your own research.

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Overview of the Top 10 Liquor Companies in India

G M Breweries Ltd

G M Breweries Ltd was established to manufacture and market alcoholic beverages. The company has grown to become a significant player in the Indian brewery industry, offering a range of products including beer and distilled spirits.

As of the 24th July 2024, G M Breweries Ltd has a market capitalisation of Rs. 1,889.21 cr. The stock is trading at a close price of Rs. 826.90 with a PE ratio of 12.47. The company has a net profit margin of 21.79%, reflecting its efficient management and profitability. Over the past year, the stock has delivered a remarkable 1-year return of 74.22%. Additionally, the company’s 5-year compounded annual growth rate (CAGR) stands at 21.31%, and its 5-year average return on investment is 16.11%.

Sula Vineyards Ltd

Sula Vineyards Ltd is known for its prominent position in the Indian wine industry, producing a variety of wines that cater to different tastes and preferences. The company has been pivotal in promoting wine culture in India.

As of the 24th July 2024, Sula Vineyards Ltd has a market capitalisation of Rs. 4,168.08 cr. The stock is trading at a close price of Rs. 493.85 with a PE ratio of 44.67. The company has a net profit margin of 16.22%, showcasing its ability to manage costs and generate profits. Over the past year, the stock has delivered a modest 1-year return of 2.33%. The 5-year average return on investment for Sula Vineyards Ltd is 9.63%.

Aurangabad Distillery Ltd

Aurangabad Distillery Ltd specialises in the production of alcoholic beverages, contributing significantly to the distillery sector in India. The company focuses on producing high-quality spirits that cater to diverse consumer preferences.

As of the 24th July 2024, Aurangabad Distillery Ltd has a market capitalisation of Rs. 256.87 cr. The stock is trading at a close price of Rs. 313.25 with a PE ratio of 12.28. The company has a net profit margin of 15.04%, indicating effective cost management and profitability. Over the past year, the stock has delivered an impressive 1-year return of 50.13%. Additionally, the company’s 5-year CAGR stands at 63.27%, and its 5-year average return on investment is 13.36%.

United Spirits Ltd

United Spirits Ltd, a subsidiary of Diageo, is one of the largest spirits companies in India. The company offers a wide range of alcoholic beverages, including popular brands of whisky, vodka, and rum.

As of the 24th July 2024, United Spirits Ltd has a market capitalisation of Rs. 100,581.71 cr. The stock is trading at a close price of Rs. 1382.85 with a PE ratio of 71.44. The company has a net profit margin of 12.16%, reflecting its profitability and efficient operations. Over the past year, the stock has delivered a 1-year return of 41.45%. Additionally, the company’s 5-year CAGR is 19.00%, and its 5-year average return on investment is 16.40%.

Tilaknagar Industries Ltd

Tilaknagar Industries Ltd is a significant player in the Indian alcoholic beverages industry, known for its range of spirits, including whisky, brandy, and rum. The company focuses on producing high-quality beverages for various market segments.

As of the 24th July 2024, Tilaknagar Industries Ltd has a market capitalisation of Rs. 4,648.53 cr. The stock is trading at a close price of Rs. 241.10 with a PE ratio of 33.68. The company has a net profit margin of 9.80%, indicating its profitability. Over the past year, the stock has delivered a 1-year return of 42.33%. Additionally, the company’s 5-year CAGR is 76.69%.

Som Distilleries and Breweries Ltd

Som Distilleries and Breweries Ltd specialises in the production and distribution of beer and spirits. The company offers a variety of products, catering to the diverse preferences of consumers in India.

As of the 24th July 2024, Som Distilleries and Breweries Ltd has a market capitalisation of Rs. 2,160.08 cr. The stock is trading at a close price of Rs. 110.78 with a PE ratio of 24.97. The company has a net profit margin of 6.72%. However, over the past year, the stock has faced a negative 1-year return of -17.37%. Despite this, the company’s 5-year CAGR stands at 32.28%, and its 5-year average return on investment is 4.37%.

Associated Alcohols & Breweries Ltd

Associated Alcohols & Breweries Ltd is engaged in the manufacturing and marketing of alcoholic beverages. The company is known for its range of high-quality spirits, including whisky, vodka, and rum.

As of the 24th July 2024, Associated Alcohols & Breweries Ltd has a market capitalisation of Rs. 1,378.09 cr. The stock is trading at a close price of Rs. 762.25 with a PE ratio of 27.21. The company has a net profit margin of 6.59%. Over the past year, the stock has delivered a 1-year return of 69.73%. The company’s 5-year average return on investment is 17.28%.

Radico Khaitan Ltd

Radico Khaitan Ltd is one of the oldest and largest manufacturers of Indian Made Foreign Liquor (IMFL) in India. The company offers a wide range of products, including whisky, rum, and vodka.

As of the 24th July 2024, Radico Khaitan Ltd has a market capitalisation of Rs. 22,999.86 cr. The stock is trading at a close price of Rs. 1719.45 with a PE ratio of 87.73. The company has a net profit margin of 6.34%. Over the past year, the stock has delivered a 1-year return of 22.49%. Additionally, the company’s 5-year CAGR is 41.28%, and its 5-year average return on investment is 11.66%.

United Breweries Ltd

United Breweries Ltd is a leading company in the Indian beer market, known for its flagship brand, Kingfisher. The company offers a variety of beer products that cater to different segments of the market.

As of the 24th July 2024, United Breweries Ltd has a market capitalisation of Rs. 53,407.20 cr. The stock is trading at a close price of Rs. 2019.90 with a PE ratio of 130.25. The company has a net profit margin of 5.00%. Over the past year, the stock has delivered a 1-year return of 34.97%. Additionally, the company’s 5-year CAGR is 7.99%, and its 5-year average return on investment is 8.56%.

Globus Spirits Ltd

Globus Spirits Ltd specialises in the production and marketing of alcoholic beverages, including whisky, vodka, and country liquor. The company is committed to delivering high-quality products to its consumers.

As of the 24th July 2024, Globus Spirits Ltd has a market capitalisation of Rs. 2,616.11 cr. The stock is trading at a close price of Rs. 906.20 with a PE ratio of 27.12. The company has a net profit margin of 3.97%. Over the past year, the stock has faced a negative 1-year return of -22.18%. Despite this, the company’s 5-year CAGR stands at 51.93%, and its 5-year average return on investment is 15.05%.

What Are Liquor Stocks?

Liquor stocks refer to shares of companies involved in the production, distribution, and sale of alcoholic beverages. These companies can range from large, well-known brands to smaller, niche players in the market. Investing in liquor stocks allows you to own a part of these companies and potentially benefit from their growth and profitability. In India, there are several listed liquor companies that you can consider, each with its own strengths and market presence.

The liquor industry in India encompasses a wide range of products, including spirits like whisky, rum, vodka, and gin, as well as beer and wine. The market is dominated by a few large players, but there are also many smaller companies making a significant impact. When you invest in liquor stocks, you are essentially betting on the continued demand and consumption of alcoholic beverages in the country.

How Do Liquor Stocks Work?

Liquor stocks work similarly to other types of stocks. When you buy shares of a liquor company, you become a shareholder and gain a stake in the company’s future performance. The value of your investment may increase or decrease based on the company’s financial performance, market conditions, and other factors.

To understand how liquor stocks work, it’s essential to consider several key aspects:

1. Revenue and Profit Margins: The financial health of a liquor company can be assessed by examining its revenue and profit margins. Strong financials may indicate the company’s ability to withstand market fluctuations and generate consistent returns.
2. Market Share and Brand Strength: The top liquor companies in India often have a significant market share and strong brand recognition. These factors can contribute to their stability and potential for growth.
3. Regulatory Environment: The liquor industry in India is heavily regulated, with various state and central government policies affecting production, distribution, and sales. Understanding these regulations is crucial for evaluating the prospects of liquor stocks.
4. Consumer Trends: Changes in consumer preferences and trends can impact the performance of liquor companies. For instance, a growing preference for premium and craft beverages can benefit companies that cater to these segments.
5. Economic Conditions: The overall economic environment can also influence the performance of liquor stocks. During periods of economic growth, disposable incomes tend to rise, potentially leading to increased consumption of alcoholic beverages.

Investors interested in this sector can explore the best liquor stocks in India by looking at the top 10 liquor companies in India and the largest liquor companies in India. By conducting thorough research and analysis, you can identify the best liquor shares in India that align with your investment goals and risk appetite.

Features of Liquor Stocks in India

Diverse Product Range

Liquor stocks in India represent companies producing a wide array of alcoholic beverages, including whisky, rum, vodka, gin, beer, and wine. This diversity allows investors to choose companies based on their product portfolios and market segments they cater to. The wide range of products ensures that these companies can appeal to various consumer preferences, which may contribute to their stability and growth.

Strong Market Presence

Top liquor companies in India often have a significant market presence, bolstered by well-established brands and extensive distribution networks. This strong presence can lead to steady revenue streams and a loyal customer base, which are crucial for long-term financial health. The largest liquor companies in India, such as United Spirits and Radico Khaitan, dominate the market, making their stocks potentially attractive to investors.

Regulatory Landscape

The liquor industry in India operates under stringent regulations, which can impact production, distribution, and sales. Understanding these regulatory frameworks is vital for investors. These regulations can vary significantly from state to state, affecting the operational flexibility and profitability of liquor companies. Despite these challenges, companies that navigate the regulatory environment effectively can achieve sustained growth.

Consumer Trends

Changes in consumer preferences and lifestyle trends play a significant role in the performance of liquor stocks. For instance, there is a growing trend towards premium and craft beverages, which some top alcohol companies in India have capitalised on. Monitoring these trends can provide insights into which companies are likely to perform well in the future.

Financial Performance

Analysing the financial performance of liquor companies is essential. Key metrics such as revenue growth, profit margins, and debt levels can provide a clearer picture of a company’s financial health. Strong financials may indicate the company’s ability to withstand market fluctuations and generate consistent returns for investors.

How to Choose the Top Liquor Companies in India to Invest in?

Using Tickertape Stock Screener

When it comes to choosing the top liquor companies in India to invest in, using Tickertape Stock Screener can be incredibly helpful. It lets you filter liquor stocks based on various criteria such as market capitalisation, revenue growth, and profitability. By setting specific parameters, you can narrow down your options to the best liquor stocks in India that meet your investment criteria. In case a parameter of your choice is not available, then you can create a custom filter. This screening process can save time and provide you with a focused list of potential investment opportunities. Try it now!

Evaluating Company Fundamentals

When choosing liquor stocks, it’s crucial to evaluate the fundamentals of the companies. This includes analysing their business models, competitive advantages, management teams, and long-term strategies. Companies with strong fundamentals are more likely to sustain growth and provide good returns over time.

Industry Position and Market Share

The position of a company within the industry and its market share can also be important indicators of its potential for growth. Top liquor stocks in India typically belong to companies with a significant market share and strong brand recognition. These companies are often better equipped to handle competition and market changes.

Risk Assessment

Investing in liquor stocks, like any other investment, involves certain risks. It’s essential to assess these risks, including regulatory changes, market competition, and economic fluctuations. By understanding the potential risks, you can make more informed investment decisions and manage your portfolio effectively.

Historical Performance

Reviewing the historical performance of liquor stocks can provide insights into their stability and growth potential. By analysing past performance, you can gauge how the companies have navigated market challenges and identify patterns that may indicate future performance.

Benefits of Investing in Alcohol Stocks in India

Strong Market Demand

One of the primary benefits of investing in alcohol stocks in India is the consistent and robust demand for alcoholic beverages. The consumption of alcohol in India is deeply ingrained in social and cultural practices, leading to a stable market for these products. This persistent demand may provide a reliable revenue stream for companies, which in turn can result in steady returns for investors.

Diverse Product Offerings

The liquor industry in India offers a wide range of products, from premium spirits to affordable options. This diversity allows liquor companies to cater to various market segments, potentially leading to a broader customer base and enhanced revenue opportunities. As an investor, this diversity means you can choose from companies with different product portfolios that suit your investment strategy.

Growth Potential

The Indian alcohol market has significant growth potential, driven by factors such as increasing disposable incomes, urbanisation, and changing lifestyles. More consumers are now willing to spend on premium and craft beverages, which can boost the profitability of companies focusing on these segments. This growth potential makes alcohol stocks in India an attractive option for long-term investors.

Established Brands

Many top liquor companies in India have well-established brands with strong market recognition. This brand strength can lead to customer loyalty and competitive advantages in the market. Investing in companies with reputable brands may offer more stability and a greater chance of sustained growth.

Dividend Income

Some of the largest liquor companies in India are known for paying regular dividends to their shareholders. This can provide a steady income stream for investors, making alcohol stocks a potentially attractive option for those seeking both growth and income.

Risks of Investing in Top Liquor Stocks

Regulatory Challenges

The liquor industry in India is subject to stringent regulations, which can vary significantly across different states. These regulations can impact production, distribution, and sales, posing a risk to the operational efficiency and profitability of liquor companies. Changes in government policies and tax structures can also affect the industry, creating uncertainty for investors.

Market Competition

The Indian alcohol market is highly competitive, with numerous domestic and international players vying for market share. This intense competition can lead to pricing pressures and reduced profit margins for companies. As an investor, it’s essential to consider how well a company can navigate this competitive landscape to maintain its market position and profitability.

Economic Fluctuations

Economic conditions can significantly influence the performance of liquor stocks. During economic downturns, consumers may cut back on discretionary spending, including alcohol. This can lead to reduced sales and profitability for liquor companies. Conversely, during periods of economic growth, increased disposable incomes can boost alcohol sales.

Changing Consumer Preferences

Consumer preferences in the alcohol market can shift over time, impacting the demand for specific products. For instance, a growing preference for premium and craft beverages can benefit companies in those segments but may pose challenges for those focused on mass-market products. Staying attuned to these trends is crucial for assessing the long-term prospects of liquor stocks.

Legal and Social Issues

The liquor industry often faces legal and social scrutiny, which can result in negative publicity and legal challenges. Issues such as underage drinking, health concerns, and social stigmas associated with alcohol consumption can affect the reputation and operations of liquor companies. These factors can create additional risks for investors.

Who Should Invest in the Best Alcohol Stocks in India?

Long-Term Investors

If you are a long-term investor looking for stable and potentially lucrative opportunities, investing in the best alcohol stocks in India may be suitable for you. The alcohol industry tends to demonstrate steady demand due to its integration into social and cultural norms. Long-term investors can benefit from the consistent performance and growth potential of established liquor companies.

Dividend Seekers

Many top liquor companies in India offer regular dividends, making these stocks attractive to dividend seekers. If you are looking for a steady income stream from your investments, alcohol stocks can provide a reliable source of dividend income, alongside potential capital appreciation.

Risk-Tolerant Investors

Investing in the alcohol industry comes with its set of risks, including regulatory challenges, market competition, and economic fluctuations. Therefore, risk-tolerant investors who understand these challenges and are willing to navigate them may find investing in the best alcohol stocks in India rewarding.

Diversified Portfolio Builders

If you aim to diversify your investment portfolio, adding alcohol stocks can provide exposure to a different sector. The liquor industry has distinct dynamics compared to other sectors, offering diversification benefits that can help mitigate overall portfolio risk.

Investors Following Market Trends

Those who follow market trends and consumer preferences can also benefit from investing in the alcohol sector. With a growing trend towards premium and craft beverages, investors who capitalise on these shifts can potentially achieve significant returns.

How to Invest in Liquor Stocks in India via Tickertape?

Step 1: Create an Account on Tickertape

To start investing in liquor stocks in India, you first need to create an account on Tickertape. This platform provides a comprehensive suite of tools and data to help you make informed investment decisions.

Step 2: Use the Stock Screener

Once your account is set up, use the Tickertape Stock Screener to filter liquor stocks based on various criteria such as market capitalisation, revenue growth, profitability, and dividend yield. This tool allows you to narrow down your options and focus on the best liquor stocks in India that meet your investment objectives.

Step 3: Analyse Financial Metrics

Tickertape provides detailed financial metrics for each listed liquor company in India. Review these metrics, including revenue, profit margins, debt levels, and historical performance, to assess the financial health and growth potential of the companies you are interested in. Check out Sula Vineyards Ltd‘s financials!

Step 4: Compare Stocks

With Tickertape, you can compare the performance of different liquor stocks against their peers. This comparison can help you understand the market position and competitive advantages of each company, aiding in your decision-making process. For instance, check G M Breweries Ltd‘s comparison with its peers.

Step 5: Read Analyst Ratings and Reports

Tickertape offers analyst ratings and insights that provide insights into the prospects of various liquor stocks.

Step 6: Make Your Investment

After conducting thorough research and analysis, you can proceed to invest in the liquor stocks that align with your investment strategy. Tickertape connects with various brokerage accounts, allowing you to execute your trades seamlessly.

Step 7: Monitor Your Investments

Regularly monitor your investments using Tickertape’s portfolio tracking features. Keep an eye on market trends, company performance, and any changes in the regulatory landscape to make informed decisions about holding, buying more, or selling your stocks. To stay updated with information about your favourite stocks, turn on Tickertape Alerts!

Factors to Consider Before Investing in Alcohol Companies in India

Regulatory Environment

The alcohol industry in India is subject to stringent regulations, with each state implementing its own laws and taxation policies. Understanding the regulatory environment is crucial as it can significantly impact the operations and profitability of alcohol companies. Changes in government policies, tax structures, and legal restrictions may affect the industry’s dynamics. Therefore, staying updated on regulatory developments might be crucial for assessing potential impacts on your investments.

Market Demand and Consumer Trends

You may need to understand market demand and consumer trends when considering investments in alcohol companies. The Indian alcohol market is influenced by cultural and social factors, leading to consistent demand. Additionally, there is a growing trend towards premium and craft beverages, which might provide opportunities for companies focusing on these segments. By understanding these trends, you might identify companies with significant growth potential.

Financial Health of Companies

You should carefully analyse the financial health of alcohol companies before investing. Key financial metrics to consider might include revenue growth, profit margins, debt levels, and cash flow. Companies with strong financials may be better positioned to withstand market fluctuations and achieve sustained growth. By examining historical performance and financial stability, you can gain insights into the company’s potential for long-term success.

Brand Strength and Market Share

The strength of a company’s brand and its market share are important indicators of its competitive position. Top alcohol companies in India often have well-established brands with significant market presence. A strong brand can lead to customer loyalty and better pricing power, contributing to the company’s overall profitability. Companies with substantial market share are typically better equipped to navigate competitive pressures.

Management Team

The quality and experience of a company’s management team can greatly influence its success. A competent management team with a clear strategic vision and effective execution capabilities might drive growth and profitability. By assessing the track record of the management team and their ability to adapt to market changes, you can better evaluate the company’s prospects.

Competitive Landscape

You might need to understand the competitive landscape to identify investment opportunities and risks. The Indian alcohol market is highly competitive, with numerous domestic and international players vying for market share. By analysing the competitive strategies, product offerings, and market positioning of various companies, you might identify those with a sustainable competitive advantage.

Economic Conditions

The overall economic environment can impact the performance of alcohol companies. During periods of economic growth, higher disposable incomes can lead to increased alcohol consumption, benefiting companies in the sector. Conversely, economic downturns can result in reduced consumer spending, affecting sales and profitability. Keeping an eye on economic indicators might help you anticipate how macroeconomic trends could impact your investments.

Regulatory Changes

Given the stringent regulations governing the alcohol industry, you should stay informed about any potential changes in laws and policies. Regulatory changes can affect production, distribution, and sales, potentially impacting a company’s revenue and profit margins. By staying updated on regulatory developments, you can better assess the risks associated with your investments in the alcohol sector.

Overview of the Indian Liquor Industry

The Indian alcohol market was valued at Rs. 2,807,236.7 bn in 2018 and is anticipated to reach Rs. 5,482,851.3 bn by the end of 2027, growing at a CAGR of 7.8% during the forecast period (2019 to 2027). This indicates that the Indian liquor industry is experiencing rapid growth, driven by factors such as the expanding middle class, urbanisation, and changing attitudes towards alcohol. Along with these factors, change in demographics is another major factor expected to foster the Indian alcohol market. For instance, the legal drinking age in India varies from state to state. For instance, 18 years in Goa, Uttar Pradesh and Karnataka, 21 in Tamil Nadu and Andhra Pradesh, and 25 in Maharashtra, Delhi, and Punjab. 

Moreover, the industry is segmented based on price, with premium and super-premium brands holding significant market share. However, it operates within a highly regulated environment, with state-specific rules and regulations governing the sale, distribution, and consumption of alcohol. State excise agencies play a crucial role in granting licences and levying taxes. Despite these regulations, the industry presents substantial growth opportunities due to the rising middle class and evolving consumer preferences.

Impact of Union Budget 2024-2025 on Liquor Stocks

The Union Budget 2024-2025 is expected to have a positive impact on liquor stocks in India. A few key points:

Reduction in Customs Duty on Extra Neutral Alcohol (ENA)

The budget proposes to remove Extra Neutral Alcohol (ENA) from the purview of GST. ENA is a key raw material for liquor production. This move is likely to reduce input costs for liquor manufacturers, potentially leading to lower prices for consumers.

Positive Q1 Results for United Spirits

United Spirits, one of the largest liquor companies in India, recently reported strong Q1 results. This has driven its share price to record highs. The positive financial performance, coupled with the favourable budget announcements, suggests a bright outlook for the liquor industry.

Expectations of Tax Benefits

The liquor industry had certain expectations from the Union Budget 2024-2025, such as tax cuts and rationalisation of GST rates. While the budget did not propose major tax changes, the removal of ENA from GST could provide some relief to liquor manufacturers.

Overall, the Union Budget 2024-2025 is seen as a positive development for the liquor industry. The reduction in input costs due to the ENA GST exemption, along with the strong financial performance of major players like United Spirits, indicates a favourable outlook for liquor stocks in the coming year.

To Conclude

The Indian alcohol industry is one of the growing industries. Despite the regulations imposed by the government, the industry is growing at a CAGR of ~7-8%. But to thoroughly analyse every stock, use Tickertape’s Scorecard. It gives you a quantitative checklist with various scores such as performance, valuation, red flags, growth, profitability, and more to make quicker, data-backed conclusions on whether a stock is good to invest in or not. Moreover, these take the stock’s peers into consideration, so you know how a particular stock is faring in the industry. Interesting, isn’t it? Check out the Scorecard now!

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