MOHAN MEAKIN LIMITED UNLISTED SHARE
ABOUT MOHAN MEAKIN LIMITED
MOHAN MEAKIN LIMITED owns the first brewery in India. Today the company has its registered office at Solan Brewery in Himachal Pradesh. The company was formerly known as E. Dyer & Company, Dyer Meakin & Company Limited, Dyer Meakin Breweries Limited, and Mohan Meakin Breweries Limited, and was established as far back as 1855.
The Company is manufacturing Beer of all types and IMFS brands including premium Rums, Whiskies, Brandy, Vodka and. In addition to the main products of Beer and IMFS, the company is manufacturing Juices, Canned products, Corn Flakes, Wheat Porridge, and vinegar.
The Company has been a pioneer in the liquor industry and made steady progress, and established Breweries and distilleries in various parts of the country, and has created a respected name for itself by delivering an array of highly successful products. At present, the Company has manufacturing centers in Solan, Kasauli, Ghaziabad, Bhankarpur (Punjab), and Lucknow. Apart from this, the company holds various breweries & distilleries established under collaboration arrangements in various other places in India.
The Company’s products are quite popular in the market and are well received by the customers being quality products. Old Monk which is one of the most famous alcohol brands is owned by Mohan Meakin Limited. Old Monk Rum has been rated as the largest selling brand of Dark Rum. The Company has introduced a premium brand of Single Malt Whisky known as Solan Gold Single MaltWhisky in Himachal Pradesh, which is being introduced in other States of the Country. The product has been well accepted in the market. The company is in the process of increasing its productions not only for Himachal Pradesh but also for Chandigarh and export to other countries.
Products of Mohan Meakin Limited are exported to 21 countries. The company is also exploring the opportunities to further increase the export to other countries as the products of the company are very popular in foreign market and company is also getting inquiries regarding export to these countries.
The equity shares of Mohan Meakin Limited are listed on Calcutta Stock Exchange.
INCORPORATION DETAILS
|
CIN |
L15520HP1934PLC000135 |
|
Registration Date |
2nd November 1934 |
|
Category/Sub-category of the Company |
Public Limited Company |
|
Address of the Registered office and contact details |
POST OFFICE: SOLAN BREWERY, DISTT SOLAN (H.P) Phone No: 01792-230450, 01792-230423, E-MAIL:- [email protected] |
|
Name, Address and Contact Details of Registrar and Transfer Agent, if any |
BEETAL FINANCIAL & COMPUTER SERVICES (P) LTD., Beetal House 3rd Floor,99 Madangir Complex, Behind Local Shopping Complex, Nr. Dada Harsukhdas Mandir, New Delhi – 110062. Phone No:- 011-29961281-283, E-Mail:- [email protected] |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
|
Name and Description of main products/services |
NIC Code of the product/service |
% to total turnover of the Company |
|
Manufacture of distilled, Potable, alcoholic beverages such as whisky, Rum, Brandy and Gin etc. |
110011 |
97.78% |
BOARD OF DIRECTORS
Shri L.K. Malhotra, Chairman (Independent Director)
Shri Hermant Mohan (Managing Director)
Shri R.C. Jain (Director Finance-cum-CFO)
Shri M. Nandagopal (Independent Director)
Shri Yash Kumar Sehgal (Independent Director)
Shri N. Murugan (Independent Director)
Shri Vinay Mohan (Non-Executive, Non-Independent)
Mrs. Shalini Mohan (Non-executive, Non-Independent)
PARTICULARS OF ASSOCIATE COMPANIES
|
Name of the Company |
% of shares held |
|
Mohan Closures Limited |
17.92% |
MOHAN MEAKIN LIMITED UNLISTED SHARE DETAILS
|
Total Available Shares: |
85,08,479 |
|
Face Value: |
Rs. 5 Per Equity Share |
|
ISIN: |
INE136D01018 |
|
PAN No. |
AAACM4465E |
|
Lot Size: |
50 Shares |
|
Last Traded Price: |
Rs. 1160 |
|
Market Cap. |
Rs. 986.98 Crore |
SHAREHOLDING PATTERN
(As of 31-03-2020)
|
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
|
1 |
Promoters Shareholding |
57,26,973 |
67.31 |
|
2 |
Public Shareholding |
27,81,506 |
32.69 |
|
|
Total |
85,08,479 |
100 |
INDUSTRY OUTLOOK
The Alcohol Industry of India is the third-largest in the world valued at US$ 35 billion. India is the largest consumer of Whiskey in the world and wine is becoming extremely popular among women in India. Vodka demand in the country grew by 22.8%. It is estimated that alcohol consumption in India will touch 16.8 billion liters by the year 2022.
The alcohol industry is expected to reach US$ 41 billion by 2022. This excellent growth can mainly be attributed to the growing demand for alcoholic beverages among the youth of the country and rising of the disposable income. The majority of alcohol volume in India is consumed by people of age 18 to 40.
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 cesson liquor in some states increased the prices of alcohol. Big players of the industry with better cash liquidity can sustain these tough times.
Alcoholic beverages are not still included in the Goods and Services Tax (GST). This is affecting the industry negatively as the materials imported attract excise duty and VAT. Additionally, the trend of various State Governments shows that they do not allow free flow of Beer and Whiskymanufactured outside the States by putting restrictions and imposing exorbitant import fees as a result the liquor industry was established outside the State cannot compete with the importing State. Moreover, due to unabated rise in oil prices, the logistic issues and different regulations applicable in different states with the result that sending the goods from one corner of the country to the other has become a costly affair and is un-remunerative and economically unviable. Therefore, to overcome these obstacles most of the leaders in the liquor Industryhave opted for collaboration, technical know-how, and bottling arrangements in various other States.
KEY FINANCIALS OF MOHAN MEAKIN LIMITED(In Rs. Lakhs)
|
Particulars |
9 months of FY 2021 |
2020 |
2019 |
2018 |
|
Revenue from Operations |
79,320.77 |
1,02,093.78 |
94,794.05 |
65,576.93 |
|
EBITDA |
4,503.29 |
4,269.53 |
5,067.66 |
1,853.27 |
|
EBITDA margin |
5.68% |
4.18% |
5.35% |
2.83% |
|
Finance Cost |
216.09 |
267.38 |
297.32 |
665.29 |
|
Depreciation |
378.8 |
475.75 |
385.08 |
254.56 |
|
Other Income |
221.9 |
683.57 |
619.39 |
459 |
|
Profit Before Tax, exceptional items, share of profit from associates |
4,130.30 |
4,209.97 |
5,004.65 |
1,392.42 |
|
Share of profit from associates |
0 |
-0.4 |
-19.13 |
-21.11 |
|
Exceptional items |
301.04 |
0 |
-32.31 |
815.44 |
|
Total Tax |
1,109.09 |
1,569.09 |
1,638.03 |
654.02 |
|
Profit After Tax (PAT) |
3,322.25 |
2,640.48 |
3,315.18 |
1,532.73 |
|
PAT margin |
4.18% |
2.57% |
3.47% |
2.32% |
|
EPS |
39.05 |
31.03 |
38.96 |
18.02 |
BALANCE SHEET OF MOHAN MEAKIN LIMITED(In Rs. Lakhs)
|
Particulars |
2020 |
2019 |
|
ASSETS |
||
|
NON CURRENT ASSETS |
||
|
Tangible assets |
6,150.64 |
5,478.83 |
|
Financial assets |
650.84 |
686.6 |
|
Tax assets |
802.5 |
1255.88 |
|
Other non-current assets |
660.97 |
795.44 |
|
TOTAL NON CURRENT ASSETS |
8,264.95 |
8,216.75 |
|
CURRENT ASSETS |
||
|
Inventories |
7,341.21 |
6,551.37 |
|
Trade receivables |
6,770.33 |
5,184.97 |
|
Cash and cash equivalents |
1,581.14 |
1,566.24 |
|
Other financial assets |
30.62 |
39.77 |
|
Other current assets |
1,505.69 |
1,452.79 |
|
TOTAL CURRENT ASSETS |
17,228.99 |
14,795.14 |
|
TOTAL ASSETS |
25,493.94 |
23,011.89 |
|
EQUITY AND LIABILITIES |
||
|
EQUITY |
||
|
Equity share capital |
425.42 |
425.42 |
|
Other equity |
11,356.38 |
8,791.10 |
|
TOTAL EQUITY |
11,781.80 |
9,216.52 |
|
LIABILITIES |
||
|
NON CURRENT LIABILITIES |
||
|
Borrowings |
53.05 |
53.64 |
|
Other financial liabilities |
1,290.36 |
1,525.70 |
|
Provisions |
356.82 |
333.61 |
|
Other non-current liabilities |
302.97 |
260.00 |
|
TOTAL NON CURRENT LIABILITIES |
2,003.20 |
2,172.95 |
|
CURRENT LIABILITIES |
||
|
Borrowings |
807.54 |
1132.24 |
|
Trade payables |
6,872.56 |
6,523.06 |
|
Other financial liabilities |
2,091.46 |
1,895.89 |
|
Provisions |
19.1 |
26.73 |
|
Tax liabilities |
0 |
174.63 |
|
Other current liabilities |
1,918.28 |
1,869.87 |
|
TOTAL CURRENT LIABILITIES |
11,708.94 |
11,622.42 |
|
TOTAL LIABILITIES |
13,712.14 |
13,795.37 |
|
TOTAL EQUITY AND LIABILITIES |
25,493.94 |
23,011.89 |
DIVIDEND HISTORY
|
Particulars |
2020 |
2019 |
2018 |
|
Dividend (final + interim) (In Rs.) |
Nil |
Nil |
Nil |
|
Retained Earnings (Consolidated) (In Rs. Lakhs) |
10,447.91 |
7,858.34 |
4,550.74 |
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company increased by 7.70% from Rs. 94,794.05 Lakhs in FY 2019 to Rs. 1,20,093.78 Lakhs in FY 2020. In 3 quarters of FY 2021, the company secured revenue of Rs. 79,320.77 Lakhs from its operations.
Despite the increase in revenue in FY 2020, the EBITDA of the company in FY 2020 decreased by 16% to Rs. 4,269.53 Lakhs from Rs. 5,067.66 Lakhs in FY 2019. Thereafter the company’s EBITDA margins have lowered from 5.35% in FY 2019 to 4.18% in FY 2020. However, in just 3 quarters of FY 2021, the company booked EBITDA of Rs. 4,503.29 Lakhs, which is more than the EBITDA of the whole FY 2020. EBITDA margins for 3 quarters of FY 2021 were 5.68%.
Profit After Tax of Mohan Meakin Limited decreased by around 20% in FY 2020 and touched Rs. 2,640.48 Lakhs from Rs. 3,315.18 Lakhs in FY 2019. However, in just 3 quarters of FY 2021, the company made a profit of Rs. 3,322.25 Lakhs, an increase of 25.89% from the profit of the whole FY 2020. Profit margin has increased from 2.57% in FY 2020 to 4.18% for the 3 quarters of FY 2021.
The current ratio of the company as of 31st March 2020 was 1.47. This is actually good for a brewery company. The debt to equity ratio of the company as of 31st March 2020 was 0.07. The company’s debt is very low when compared with shareholder’s equity.
The company has not given any dividend for the past 3 years i.e. for FY 2018, 2019, and 2020.
