B9 Beverages Ltd (BIRA91) - Unlisted Shares
Fundamentals
- Current Price
- ₹240
- Market Cap
- ₹1,426.40 Cr
- ISIN
- INE833U01014
- Face Value
- ₹10
- EPS
- ₹-81.23
- P/B Ratio
- 2.82
- Book Value
- 85.13
- Debt / Equity Ratio
- 1.94
Key Financials
Profit & Loss
| Metric | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|
| Net Revenue | 810.1 | 717.8 | 430.8 | 457.2 | 350.4 |
| Growth % | 12.87% | 66.63% | -5.78% | 30.49% | 0 |
| Operating Expenses 470.5 613.9 543.2 891.0 1022.4 | 1022.4 | 891.0 | 543.2 | 613.9 | 470.5 |
| Growth % | 14.75% | 64.02% | -11.51% | 30.49% | 0 |
| Operating Profit (EBITDA) | -212.2 | -173.2 | -112.4 | -156.7 | -120.1 |
| Operating profit Margin % | -26.20% | -24.13% | -26.10% | -34.27% | -34.28% |
| Other Income | 36.4 | 16.0 | 12.1 | 6.5 | 9.7 |
| Finance Costs | 95.9 | 87.7 | 76.2 | 49.9 | 19.4 |
| Depreciation and Amortization Expense | 119.8 | 90.1 | 75.0 | 57.2 | 5.3 |
| Profit before Tax | -391.5 | -335.1 | -251.5 | -257.3 | -135.0 |
| Tax | 117.9 | 0 | 0 | 0 | 0 |
| Tax % | -30.12% | 0 | 0 | 0 | 0 |
| Profit After Tax | -509.4 | -335.1 | -251.5 | -257.3 | -135.0 |
| Loss% | 52.03% | 33.20% | -2.25% | 90.58% | 0 |
| PAT % | -62.88% | -46.68% | -58.40% | -56.29% | -38.54% |
| Diluted EPS | -81.23 | -81.07 | 0 | -95.48 | 0 |
Company Financials
| Metric | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|
| Share Capital | 19.0 | 14.2 | 13.27 | 44.3 | 39.8 |
| Reserves and Surplus | 142.8 | -237.0 | 101.3 | -82.8 | 75.0 |
| Total Equity | 161.9 | -222.8 | 114.6 | -38.5 | 114.8 |
| Long Term Borrowings | 17.4 | 155.8 | 137.4 | 89.5 | 56.0 |
| Other NC Liabilities | 303.2 | 272.5 | 282.5 | 224.3 | 2.5 |
| Total NC Liabilities | 320.6 | 428.3 | 419.9 | 313.8 | 58.5 |
| Short Term Borrowings | 297.2 | 190.9 | 110.0 | 76.64 | 32.46 |
| Other Current Liabilities | 494.5 | 333.7 | 276.8 | 202.2 | 76.6 |
| Total Current Liabilities | 791.7 | 524.6 | 386.8 | 278.84 | 109.06 |
| Total Equity & Liabilities | 1274.2 | 730.1 | 921.2 | 554.1 | 282.4 |
| Fixed Assets (incl. WIP) | 583.3 | 373.1 | 355.3 | 327.1 | 64.0 |
| Other Non Current Assets | 74.4 | 65.1 | 196.5 | 29.8 | 20.4 |
| Total NC Assets | 657.7 | 438.2 | 551.8 | 356.8 | 84.4 |
| Trade Receivables | 169.7 | 119.0 | 124.5 | 91.5 | 65.0 |
| Cash and Bank Balances | 196.1 | 51.3 | 76.8 | 43.1 | 46.3 |
| Other Current Assets | 250.7 | 121.5 | 168.1 | 62.8 | 86.6 |
| Total Current Assets | 616.4 | 291.8 | 369.4 | 197.4 | 197.9 |
| Total Assets | 1274.1 | 730.0 | 921.2 | 554.2 | 282.3 |
Shareholding Pattern
- Mr. Ankur Jain
- 24.43%
- Day1 Advisors Private Limited
- 16.29%
- Mrs. Shashi Jain
- 11.24%
- Sci Investments V
- 8.39%
- Sequoia Capital India Investment IV
- 4.44%
- Others
- 35.21%
Strengths & Weaknesses
Strengths
- Marquee Investors: Bira 91 boasts 69 institutional investors, including prominent names such as KOIS, Sofina, DS Group, with Sequoia Capital being the largest among them. Recently, the company raised $25 million (₹207 crore) from Tiger Pacific Capital.
- Rising Revenue: Revenue almost doubled over the two-year period from FY-21 to FY-23, with an ~14% increase from FY-22 to FY-23.
- Multiple Awards: Bira 91 earned seven medals in various categories at the European Beer Challenge 2024, becoming the most-awarded beer company in India
Weaknesses
- Lack of Profitability: Bira 91 has yet to achieve profitability due to high procurement costs, substantial employee benefit expenses, etc.
About B9 Beverages Ltd (BIRA91)
Established in 2015, Bira 91 has quickly become one of India's fastest-growing breweries. Funded by Sequoia Capital India, Sofina of Belgium, and Kirin Holding of Japan, Bira 91 operates two taprooms in Delhi NCR and two in Bengaluru, offering weekly experimental brews and a curry-shop menu
Board of Directors
- Ankur Jain - Director
- Shashi Jain - Director
- Sakshi Vijay Chopra - Director
- Ankeeta Pawa - Director
- Hiromasa Honda - Director
Senior Management
- Sudhir Jain - SVP
- Rahul Singh - SVP
- Amandeep Singh Kahlon - Associate Director
