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×

b9 beverages private Limited

830.00
-1.19 %
Scrip Name
B9 BIRA
ISIN No.
INE833U01014
PAN No.
AAECD6739Q
Face Value
10
No. of Outstanding Shares
43,000,000
Market Capitalization
3,569.00 Crore

B9 BEVERAGES PRIVATE LIMITED UNLISTED SHARE

ABOUT B9 BEVERAGES PRIVATE LIMITED


B9 BEVERAGES PRIVATE LIMITED is the manufacturer of a craft beer brand popularly knowns as BIRA 91. It first entered in to market in 2015. BIRA 91 in very little time became very popular among millennials mainly for its delicious beers, bold identity, and strong draft network. In 2017, Bira 91 started campaigning in the United States and In 2018, it entered Singapore and started covering the Asia Pacific market.


Within just 3 years, Bira 91 came into the list of top 25 craft beer brands worldwide in accordance with sales volume and also became the fastest-growing beer brand in the world.


The company established its first brewery unit in the Flanders region of Belgium and the beer was imported to India. But after initial success, the company began manufacturing beer in India. Today, the company operates 4 breweries in India and has offices in 9 cities including New York.


Bira 91 is backed by Sequoia Capital and Belgium’s Sofina Capital.


The company product portfolio mainly consists of 5 beer variants – Bira 91 white, Bira 91 Blonde, Bira 91 Light, Bira 91 Strong and Bira 91 Indian Pale Ale.

 

 

INCORPORATION DETAILS


CIN

U80903DL2012PTC236595

Registration Date

28 May 2012

Category / Sub-Category of the Company

Company Limited by Shares

Address of the Registered office and contact details

Premise No. 106, Second Floor, Block H,

Connaught Circus,New Delhi -110001

Tel: 011-41006793,

e-mail: secretarial@bira91.com

Name, Address and Contact details of Registrar and Transfer Agent, if any

NA

 

SUBSIDIARIES OF B9 BEVERAGES PRIVATE LIMITED

B9 Beverages Incorporated (USA)

B9 Beverages SPRL

B9 Beverages Pte Limited, Singapore



BOARD OF DIRECTORS

Mr. Ankur Jain(Managing Director)

Mrs. Shashi Jain(Director)

Ms. Sakshi Vijay Chopra (Director)

Mr. Varun Kwatra(Company Secretary)

 

PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

Manufacturing and Trading of Beer

11031

 

 

B9 BEVERAGES PRIVATE LIMITEDUNLISTED SHARE DETAILS


Total Available Shares:

43000000

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE833U01014

PAN No.:

AAECD6739Q

Lot Size:

50000 Shares

Last Traded Price:

Rs.500

Market Cap:

Rs. 2150 Crore

 

INDUSTRY OUTLOOK

Beer is the second most popular alcoholic beverage after whiskey in India. Alcohol consumption has become a part of social interactions among young people in India.


The Indian alcohol market is the 3rdlargest and one of the fastest-growing alcohol markets in the world. It is expected to reach $41 billion by 2022. In terms of volume; the beer market was valued at 55,337.3 lakh liters in 2020 and is expected to reach 90,047.4 lakh liters by 2025, growing at a CAGR of 10.89% during the 2021 - 2025 period.


On the basis of product type, the beer market can be segmented into strong, mild, and craft beer. The strong beer contributed the largest revenue share in 2020. The growth of craft beer in India highly depends on the healthy growth of the beer industry. The All India Brewers Association estimates the sales of craft beers to grow at 20%annually, which is higher than 5-7% growth in the beer market.

Growth in the market of Craft beer will mainly be driven by millennials who prefer craft beer over regular lagers (Beer with more than 5% alcohol content).


Some of the major obstacles that slow down the growth of the craft brewing industry are the restrictive and excessive state government regulations and the licensing problems, the growing cost of raw materials, and limited infrastructure.


During the initial stage of the COVID-19 pandemic, the alcohol industry experienced a huge downfall. The sale of alcoholic beverages was stopped for about 40 days. Moreover, the introduction of COVID cession liquor in some states increased the prices of alcohol.


The beer market in India is currently in its growth stage. Today, there are more than 140 beer brands in India. However, the per capita beer consumption in India is still very low compared to other countries in the Asia Pacific region and therefore the market could witness huge growth in the coming years. It is expected that most of the state governments will start to delink beer taxation from IMFL soon on the basis of alcohol content, clearing the obstacle for rational growth in the market. This industry is expected to flourish in terms of revenues and sales volume.


KEY FINANCIALS OF B9 BEVERAGES PRIVATE LIMITED(In Rs. Lakhs)

Particulars

2020

2019

Revenue from Operations

45,718.6

35,036.7

Excise Duty

26,715.6

20,954.4

Net Revenue from Operations

19,003

14,082.3

EBITDA

-15,668.9

-12,009.6

Finance Cost

4,989.6

1,940.4

Depreciation

5,720.8

526.1

Other Income

645.6

971.8

Loss before Tax and Exceptional items

-25,733.7

-13,504.3

Profit/(loss) from exceptional items

-16,007.4

0

Loss Before Tax

-41,741.1

-13,504.3

Tax

0

0

Loss After Tax

-41,741.1

-13,504.3

EPS

-325.82

-105.45

 

BALANCE SHEET OF B9 BEVERAGES PRIVATE LIMITED(In Rs. Lakhs)

Particulars

2020

2019

ASSETS



NON CURRENT ASSETS



Tangible assets

32,073.3

5,678.9

Intangible assets

162.2

185.5

Financial assets

5,676.5

15,396.5

Other non current assets

391.5

1,051.2

TOTAL NON CURRENT ASSETS

38,303.5

22,312.1

CURRENT ASSETS



Inventories

4,045.3

4,773.7

Trade receivables

9,286.2

6,513.9

Cash and Cash equivalents

4,192.1

4,354.5

Other financial assets

84

1,645.9

Tax assets

129.7

104.5

Other current assets

2,566.5

2064

TOTAL CURRENT ASSETS

20,303.8

19,456.5

TOTAL ASSETS

58,607.4

41,768.6

EQUITY AND LIABILITIES



EQUITY



Equity share capital

1,308.9

1,308.3

Instruments entirely equity in nature

3,116.4

2,671.1

Other equity

-2,599.4

22,162

TOTAL EQUITY

1,825.9

26,141.4

LIABILITIES



NON CURRENT LIABILITIES



Borrowings

8,950

5,600

Lease liabilities

22,138.7

0

Provisions

292.7

225.9

Other non current liabilities

0

22.5

TOTAL NON CURRENT LIABILITIES

31,381.4

5,848.4

CURRENT LIABILITIES



Borrowings

7,664.4

3,246

Trade payables

10,534.5

3,077.8

Other financial liabilities

470.4

693.4

Lease liabilities

2,985.2

0

Other current liabilities

3,693.6

2,744.3

Provisions

52.1

17.3

TOTAL CURRENT LIABILITIES

25,400.2

9,778.8

TOTAL LIABILITIES

56,781.6

15,627.2

TOTAL EQUITY AND LIABILITIES

58,607.4

41,768.6

 

DIVIDEND AND RETAINED EARNINGS

Particulars

2020

2019

2018

Dividend (In Rs.)

Nil

Nil

Nil

Retained Earnings (Consolidated) (In Rs. Lakhs)

-64,581.8

-22,384.4

-8,880.1

 

PERFORMANCE OF THE COMPANY

Revenue from Operations increased by 30% in FY 2020 to Rs. 45,718.6 lakhs from Rs. 35,036.7 lakhs in FY 2019. As a result, the value of excise duty given also increased in FY 200 by around 27%.

Despite the increase in Revenue, EBITDA fell by 30%. EBITDA of the company was already in a loss of Rs. 12,009 lakhs and now the loss has reached Rs. 15,668.9 lakhs. It can be easily assessed that the revenue from operations is enough to cover all the operating expense. But mainly due to very high excise duty, the revenue of the company is not enough to cover the expenses.


Finance Cost to the company has increased significantly. It increased by 2.57 times in FY 2020 and reached Rs. 4,989.6 lakhs from Rs. 1,940.4 lakhs in FY 2019. This is because the company has increased its borrowings in FY 2020 by 87% as compared to FY 2019. Total borrowings in FY 2019 were Rs. 8,846 lakhs, but it jumped to Rs. 16,614.4 lakhs in FY 2020.


Similarly, due to a significant increase of 464% intangible assets of the company in FY 2020, the depreciation cost has increased by 987% in FY 2020 and touched the mark of Rs. 5,720.8 lakhs, as against the depreciation cost of just Rs. 526.1 lakhs in FY 2019.


In FY 2020, the company also suffered a loss worth Rs. 16,007.4 lakhs from exceptional items.


In FY 2020, the company’s loss after tax increased by 209%. The net loss for FY 2020 was Rs. 41,741.1 lakhs, as against the net loss of Rs. 13,504.3 lakhs.


The current Ratio of the company is 0.79. This means that the company is not able to maintain enough liquidity.


B9 Beverages Private Limited has not paid any dividends for the past 3 years.





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