GM Breweries is on a spirited rise today morning, up over 4.5%. The company maintains its reputation of being the first company to declare its quarterly numbers. For the first quarter ended 30^th June 2013, the company posted a good set of numbers though not as exuberant as those in Q4. The company posted a flat topline at Rs.67 crore, same as that in Q1FY13 but sequentially, it was down 12%. The decline in raw material and packaging cost helped bring down the overall operating expense, which YoY fell 3% and QoQ, fell 16%. Thus it ended the quarter with a net profit at Rs.5.28 crore, up 16% (YoY) and QoQ, it was up 7%.The same trend was seen in Q4FY13 too, wherein the topline sequentially was down but lower costs helped it post a higher bottomline.

The company is engaged in the activities of manufacturing and marketing of Alcoholic Beverages; such as Country Liquor (CL) and Indian made Foreign Liquor (IMFL). It  is the largest manufacturer of country liquor in the state of Maharashtra with a sizeable market share. Its brands are GM Santra, GM Limbu Punch, GM Dilbahar Sounf and GM Doctor. The company is essentially is a “country” liquor maker and thus has a huge customer base though margins are lower than the other big branded liquor companies, which is made up through higher volumes. The company‘s equity base is at Rs.9.36 crore and reserves stands at Rs.86.36 crore. Promoters hold 73.12% stake.