Mohan Meakin Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹2,250
- Market Cap
- ₹1,914.40 Cr
- ISIN
- INE136D01018
- Face Value
- ₹5
- P/E Ratio
- 22.60
- EPS
- 99.55
- P/B Ratio
- 5.22
- Book Value
- 430.54
- Debt / Equity Ratio
- 0
Key Financials
Profit & Loss
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | 2,151.34 | 1,929.9 | 1,771.2 | 1,370.4 | 1,099.0 | 1,020.9 | 947.9 |
| Growth % | 11.47% | 8.9% | 29.2% | 24.7% | 7.6% | 7.7% | 0 |
| Operating Expenses | 2,017.73 | 1,818.6 | 1,681.9 | 1,302.8 | 1,042.6 | 978.2 | 897.2 |
| Growth % | 10.95% | 8.1% | 29.1% | 24.9% | 6.5% | 9.0% | 0 |
| Operating Profit | 133.61 | 111.2 | 89.2 | 67.6 | 56.4 | 42.7 | 50.6 |
| Op. Profit Margin % | 6.21% | 5.7% | 5.0% | 4.9% | 5.1% | 4.1% | 5.3% |
| Other Income | 15.20 | 11.8 | 7.3 | 8.9 | 2.8 | 6.8 | 6.1 |
| Finance Costs | 0.74 | 0.7 | 0.9 | 1.5 | 2.9 | 2.6 | 2.9 |
| Depreciation | 9.89 | 8.3 | 6.8 | 6.0 | 5.2 | 4.7 | 3.8 |
| Profit Before Tax | 138.19 | 113.9 | 88.7 | 68.9 | 51.1 | 42.1 | 50.0 |
| exceptional items | 0.00 | 0.0 | 3.0 | 0.0 | 3.0 | 0.0 | 1.2 |
| Tax | 35.56 | 29.2 | 23.4 | 17.5 | 13.8 | 15.6 | 16.3 |
| Tax % | 1.65% | 1.5% | 1.3% | 1.2% | 1.2% | 1.5% | 1.7% |
| Profit After Tax | 102.63 | 84.70 | 68.39 | 51.45 | 40.31 | 26.41 | 34.94 |
| Growth % | 21.17% | 23.8% | 32.9% | 27.6% | 52.6% | -24.4% | 0 |
| PAT % | 4.77% | 4.3% | 3.8% | 3.7% | 3.6% | 2.5% | 3.6% |
| Diluted EPS | 120.62 | 99.5 | 80.3 | 60.4 | 47.3 | 31.0 | 41.0 |
Company Financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 |
| Reserves | 465.9 | 362.1 | 276.0 | 206.8 | 154.1 | 113.6 | 87.9 |
| Total Equity | 470.2 | 366.3 | 280.2 | 211.1 | 158.4 | 117.8 | 92.2 |
| Borrowings | 0.0 | 0.0 | 0.0 | 9.2 | 0.3 | 0.5 | 0.5 |
| Provision | 3.0 | 3.2 | 3.8 | 3.1 | 3.7 | 3.6 | 3.3 |
| Other Non-Current Liabilities | 12.1 | 12.6 | 12.7 | 3.8 | 12.0 | 15.9 | 17.9 |
| Total Non current Liabilities | 15.2 | 15.8 | 16.4 | 16.0 | 16.0 | 20.0 | 21.7 |
| Borrowings | 4.3 | 4.3 | 4.3 | 4.5 | 0.6 | 8.1 | 11.3 |
| Other Current Liabilities | 162.3 | 148.4 | 133.3 | 117.1 | 115.0 | 109.0 | 104.9 |
| Total current Liabilities | 166.6 | 152.6 | 137.6 | 121.6 | 115.5 | 117.1 | 116.2 |
| Equity + Liabilities | 651.9 | 534.7 | 434.3 | 348.7 | 290.0 | 254.9 | 230.1 |
| Fixed Assets (incl. WIP) | 103.3 | 72.5 | 61.5 | 69.2 | 65.7 | 61.3 | 54.8 |
| Other Non Current Assets | 36.3 | 129.0 | 48.5 | 25.4 | 20.5 | 21.3 | 27.4 |
| Total Non current Assets | 139.6 | 201.5 | 110.0 | 94.7 | 86.2 | 82.6 | 82.2 |
| Trade Receivables | 112.1 | 114.2 | 98.4 | 76.3 | 78.7 | 67.7 | 51.8 |
| Cash & Cash Equivalents | 219.2 | 65.7 | 90.2 | 67.1 | 29.8 | 15.8 | 15.7 |
| Other Current Assets | 180.9 | 153.4 | 135.7 | 110.6 | 95.2 | 88.8 | 80.4 |
| Total current Assets | 512.3 | 333.3 | 324.3 | 254.0 | 203.8 | 172.3 | 148.0 |
| Total Assets | 651.9 | 534.7 | 434.3 | 348.7 | 290.0 | 254.9 | 230.1 |
Shareholding Pattern
- Trade Links Pvt. Ltd
- 27.8%
- Hemant Mohan (Trustee Narinder Mohan Foundation)
- 11.9%
- Life Insurance Corporation of India
- 8.3%
- Vinay Mohan
- 8.2%
- Others
- 43.8%
Strengths & Weaknesses
Strengths
- Reputed brand and established market position: Mohan Meakin enjoys strong brand recognition and an established position because of its Old Monk brand in the domestic IMFL (Indian Made Foreign Liquor) market. Healthy brand reputation of Old Monk continues to drive healthy growth (both in value as well as volume terms) across own and franchisee networks.
- Operational Performance: Mohan Meakin’s operating profit grew by 24.6% to ₹111.2 crore in FY 2024, supported by a 6% growth in volumes. Strong demand in the domestic dark rum segment, along with recent launches in whiskey, gin, and vodka, is driving continued growth.
- Financial Strength: Mohan Meakin’s credit metrics are expected to remain strong, with robust revenue growth, a debt-free capital structure, and healthy liquidity. Profit margins improved in FY 2024 due to operational efficiencies and stable input prices. Mohan Meakin is setting up a ₹100 crore distillery, funded through internal accruals.
- Pan-India Presence: The company has an established pan-India presence and generated ~18% of its total volumes from exports in FY2024.
Weaknesses
- Lower Profit Margins Compared to Larger Players – Despite having a strong brand, MML’s operating margins are lower than some competitors. This is mainly because Old Monk is priced more affordably, and the company has limited flexibility in increasing franchisee fees.
- Heavy Dependence on Rum Sales – A large part of MML’s revenue comes from the rum segment, with 87% of its total sales in FY2024 coming from rum alone. While the company is expanding into whiskey, gin, and vodka, rum remains its core product.
- Strong Market Competition – MML faces tough competition from well-established liquor brands in India. While Old Monk has a loyal customer base, the company competes with premium and mass-market players, limiting its ability to capture higher-margin segments easily.
About Mohan Meakin Ltd
Mohan Meakin Limited (MML) owns popular brands such as Old Monk in the rum segment, as well as Meakin 10000, Asia 72, and Golden Eagle in the beer segment.
Board of Directors
- Shri Yash Kumar Sehgal - Chairman, Independent Director
- Shri M. Nandagopal - Independent Director
- Shri N.P. Sahni - Independent Director
- Shri Vinay Mohan - Non-Executive, Non-Independent Director
- Mrs. Shalini Mohan - Non-executive, Non-Independent Director
- Shri Sanjeev Arya - Non-Independent, Non-Executive Director
- Shri Manish Malik - Non-Independent, Non-Executive Director
Senior Management
- Shri Hemant Mohan - Managing Director
- Shri Rajesh Kedia - Chief Financial Officer
- Shri Minas Kumar - Company Secretary
Frequently Asked Questions
- Is there any lock in period for Mohan Meakin Ltd unlisted shares?
- The lock-in period for Mohan Meakin Ltd Unlisted Shares differs based on the investor category, as per SEBI regulations:
● Venture Capital Funds and Foreign Venture Capital Investors (FVCIs):
A lock-in period of 6 months from the date of acquisition of the shares.
● Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
● Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates):
A lock-in period of 6 months from the date of IPO listing of Mohan Meakin Ltd.
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing. - How much long term capital gains tax do I have to pay on Mohan Meakin Ltd unlisted shares?
- Long-Term Capital Gains (LTCG) on Unlisted Shares in India arise when such shares are sold after being held for a period of more than two years. The key aspects of LTCG taxation on Mohan Meakin Ltd unlisted shares are outlined below:
1. Tax Rate
Earlier, LTCG on unlisted shares was taxed at 20% with indexation benefits. However, as per Union Budget 2024, the tax structure has been revised. For transfers made on or after 23rd July 2024, LTCG on unlisted shares is taxed at a flat rate of 12.5%.
2. Indexation Benefit
Previously, investors could avail indexation benefits to adjust the purchase price for inflation, thereby reducing taxable gains.
This indexation benefit has been removed under Budget 2024 for unlisted shares transferred on or after 23rd July 2024.
3. Importance for Investors
Understanding LTCG taxation is important for both retail investors and High Net-Worth Individuals (HNIs), as it directly impacts investment returns, exit planning, and overall tax strategy.
4. Calculation Method
For eligible transactions after 23rd July 2024, LTCG will be calculated at a flat tax rate of 12.5% on the capital gains, without indexation.
5. Applicability
LTCG tax is applicable when unlisted shares are held for more than 24 months before being sold.
6. Relevance
These tax provisions are particularly relevant for investors in the unlisted share market who are considering exiting their investments after a long-term holding period. - How do I start investing in Mohan Meakin Ltd unlisted shares through InCred Money?
- Buying Mohan Meakin Ltd Unlisted Shares on InCred Money is quick, seamless, and fully digital.
Step 1: Create Your Account
Sign up using your mobile number and email ID.
Complete your KYC by submitting your PAN, Aadhaar, bank account, and demat account details. Once submitted, your KYC is reviewed and approved.
Step 2: Select & Buy Shares
Browse and select Mohan Meakin Ltd from our Unlisted Shares list and place your order.
Step 3: Share Transfer
Based on the settlement period for the shares noted on the platform, the purchased shares are transferred and reflected in both your InCred Money portfolio and your demat account. - What documents are needed to invest in Mohan Meakin Ltd unlisted shares?
- To invest in Mohan Meakin Ltd Unlisted Shares on InCred Money, you need to complete your KYC verification by submitting the following documents:
● PAN Card
● Aadhaar Card
● Bank account details
● Demat account details
Once your KYC is successfully completed and approved, you can start investing in unlisted shares on the platform.
