Anheuser Busch Inbev (Sabmiller) India Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹555
- Market Cap
- ₹54,284.19 Cr
- ISIN
- INE038G01019
- Face Value
- ₹10
- EPS
- -3.64
- P/B Ratio
- 225.61
- Book Value
- 2.46
- Debt / Equity Ratio
- 6.9
Key Financials
Profit & Loss
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|
| Revenue from Operations | 7,890.90 | 7,301.60 | 6,177.40 | 3,354.50 | 2,845.30 | 3,608.10 | 3,167.20 |
| Growth % | 8.07% | 18.20% | 71.21% | 5.91% | -15.18% | 26.81% | 71.21% |
| Operating Expenses | 7,913.70 | 7587.3 | 6,408.20 | 3,727.00 | 3,242.90 | 3,814.60 | 3,235.10 |
| Growth % | 4.30% | 18.40% | 67.99% | 15.21% | -12.99% | 17.63% | -FY2023 |
| Operating Profit | -22.80 | -285.70 | -230.80 | -372.50 | -397.60 | -206.50 | -67.90 |
| Op. Profit Margin % | -0.29% | -3.91% | -3.74% | -11.10% | -13.97% | -5.72% | -2.14% |
| Other Income | 6.00 | 23.20 | 51.40 | 43.00 | 6.70 | 86.00 | 30.90 |
| Finance Costs | 119.30 | 130.90 | 71.90 | 138.70 | 103.40 | 19.00 | 88.40 |
| Depreciation | 219.90 | 197.50 | 187.60 | 214.60 | 211.00 | 225.80 | 179.20 |
| Profit Before Tax | -356.00 | -590.90 | -438.90 | -682.80 | -705.30 | -365.30 | -304.60 |
| Tax | 0.00 | 0.00 | 0.00 | 55.00 | 0.00 | 0.00 | 0.00 |
| Tax % | 0.00% | 0.00% | 0.00% | 1.64% | 0.00% | 0.00% | 0.00% |
| Profit After Tax | -356.00 | -590.90 | -438.90 | -677.30 | -705.30 | -365.30 | -304.60 |
| Growth % | -39.75% | 34.63% | 20.15% | -322.36% | -204.13% | -48.21% | - |
| PAT % | -4.51% | -8.09% | -7.10% | -9.62% | -24.79% | -10.12% | -9.62% |
| Diluted EPS | -3.64 | -6.36 | -4.88 | -15.27 | -11.44 | -5.35 | -7.46 |
Company Financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|
| Equity Capital | 1016.4 | 928.4 | 928.40 | 897.40 | 616.60 | 616.60 | 408.60 |
| Reserves | -775.5 | -779.3 | -190.10 | 55.20 | -649.80 | 45.00 | -149.00 |
| Total Equity | 240.90 | 149.10 | 738.30 | 952.60 | -33.20 | 661.60 | 259.60 |
| Borrowings | 0 | 0 | 0 | 0 | 726.00 | 388.70 | 588.30 |
| Provision | 27.7 | 27.7 | 21.40 | 19.70 | 17.50 | 20.30 | 14.80 |
| Other Non-Current Liabilities | 136.50 | 158.00 | 158.50 | 140.20 | 98.20 | 36.70 | 10.50 |
| Total Non current Liabilities | 163.5 | 185.7 | 179.90 | 159.90 | 841.70 | 445.70 | 613.60 |
| Borrowings | 1665 | 1589 | 926.00 | 347.60 | 615.20 | 250.00 | 400.10 |
| Other Current Liabilities | 1623.80 | 1454.60 | 1544.30 | 1218.00 | 1099.50 | 1480.80 | 1273.80 |
| Total current Liabilities | 3288.8 | 3043.6 | 2470.30 | 1565.60 | 1714.70 | 1730.80 | 1673.90 |
| Equity + Liabilities | 3693.20 | 3378.40 | 3388.50 | 2678.10 | 2523.20 | 2838.10 | 2547.10 |
| Fixed Assets (incl. WIP) | 1326.2 | 1271.6 | 1174.60 | 1195.10 | 1274.60 | 1146.30 | 1196.80 |
| Other Non Current Assets | 192.10 | 171.80 | 153.30 | 160.20 | 233.00 | 467.90 | 310.50 |
| Total Non current Assets | 1518.3 | 1443.4 | 1327.90 | 1355.30 | 1507.60 | 1614.20 | 1507.30 |
| Trade Receivables | 643 | 616.6 | 614.20 | 440.10 | 378.60 | 438.80 | 583.70 |
| Cash & Cash Equivalents | 116.9 | 139.4 | 187.30 | 51.00 | 51.60 | 79.30 | 37.50 |
| Other Current Assets | 1415.00 | 1179.00 | 1259.10 | 831.70 | 585.40 | 705.80 | 418.60 |
| Total current Assets | 2174.9 | 1935 | 2060.60 | 1322.80 | 1015.60 | 1223.90 | 1039.80 |
| Total Assets | 3,693.20 | 3,378.40 | 3,388.50 | 2,678.10 | 2,523.20 | 2,838.10 | 2,547.10 |
Shareholding Pattern
- Anheuser Busch InBev Asia B.V.
- 85.14%%
- Anheuser Busch InBev Breweries Private Limited
- 13.98%%
- SABMiller India Holdings
- 0.55%%
- Others
- 0.34%%
Strengths & Weaknesses
Strengths
- EBITDA turnaround: EBITDA margins have improved to -0.3% in FY25 and is reaching EBITDA breakeven consistently along with Improving operating cash flows.
- Operating Cash Flow: Operating cash burn improved 89% from ₹594 Cr in FY23 to ₹66 Cr in FY25, consistent with EBITDA approaching breakeven.
- Industry Growth: Indian alcohol market size was estimated at 39.30 (USD Billion) in 2024. The Indian Alcohol Market is expected to grow at a Compounded annual growth rate (CAGR) of 5.8% during the period 2025-2034.
- Capital Commitment by Parent Company: The Parent Company in FY25 signed a ₹1,000 cr MoU with UP Government at the World Economic Forum in Davos for a new manufacturing plant and expand its domestic production capacity.
- Expansive Portfolio and Parentage: AB InBev India benefits from its parent company’s global portfolio of 500+ brands brands like Budweiser, Corona, Stella Artois and Royal Challenge, which strengthens its position as one of the leading beer companies in India.
Weaknesses
- Exposure to Diverse Regulatory Landscapes: The beer industry in India is heavily regulated, with varying state-level policies governing production, distribution, and taxation. Navigating these diverse regulations is resource-intensive and can impact the company’s ability to expand smoothly.
- History of Losses: History of Losses and Cash Burn AB InBev India has a prolonged history of losses and has burned cash since inception. The Company has yet to achieve profitability at the net level.
- Cost Sensitivity: Raw materials (like barley or glass) are susceptible to price changes. Cost increases cannot be fully passed on to the consumer due to state-controlled price caps and consumers’ price sensitivity.
About Anheuser Busch Inbev (Sabmiller) India Ltd
Anheuser Busch InBev India Limited (AB InBev India) is the Indian subsidiary of the world's largest beer company — AB InBev SA/NV (Belgium). The company brews and distributes premium international and domestic brands including Budweiser, Corona, Stella Artois, Haywards 5000, and Hoegarden across India. The parent entity AB InBev Asia BV holds 85.14% stake.
Board of Directors
- Sapna Taneja - Independent Director
- Mahesh Kumar Mittal - Whole Time Director
- Kartikeya Sharma - Whole time Director
- Rashmi Sharma - Independent Director
- Shantanu Krishna - Non-Executive Director
Senior Management
- Aastha sharma - CFO
- Mansi Bajaj - Company Secretary
