GM Breweries Q4 Results: Stock falls 7% from highs despite margin expansion

GM Breweries Ltd. fell as much as 7% from the highs of the day, in reaction to its quarterly results announcement on Thursday, April 9. The stock, which surged as much as 5% in the initial response to the earnings, but then reversed course to turn negative.

For the March quarter, GM Breweries reported a 11% drop in its net profit from the same quarter last year to ₹54 crore to ₹61 crore last year.

GM Breweries saw a 19.5% increase in its topline for the quarter that ended in March to ₹202.2 crore. The company had reported a revenue figure of ₹169.2 crore during the same quarter last year.

However, GM Breweries reported a strong operating performance for the March quarter.

Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) surged by 83% on a year-on-year basis to ₹53 crore from ₹29 crore in fourth quarter of the previous financial year, while EBITDA margins expanded by over 900 basis points during the quarter to 26% from 17% in year-ago period.

GM Breweries is one of the biggest players in India’s country liquor market.

Stock Price Reaction

Shares of GM Breweries are now trading 1.2% lower after the results announcement at ₹1,017.8. The stock is up 6% so far in the last one month, but has declined 16% in 2026 so far.