Archive · 7 Jan 2026
GM Breweries Q3 Profit Nearly Doubles
GM Breweries, a big company that makes alcohol in India, just shared its results for the last three months of 2025.
They made a lot more money than last year, almost double!
Their profit went up by 91%, and they sold more products too, with a 22% increase in revenue.
This made their stock price go up a lot, reaching a new high of ₹1,328.
The company has been doing really well, with their stock price increasing by 48% in 2025 and 70% in the last six months.
People who own their stock are happy because it's been going up for a long time.
However, not all companies in the alcohol sector are doing as well.
Some, like Sula Vineyards and United Breweries, are expected to have flat or declining earnings.
The performance of these companies is also affected by things like changes in state policies and the prices of grains used to make alcohol.
GM Breweries' net profit increased by 91% YoY to ₹42 crore in Q3 2025.
Revenue grew by 22% YoY to ₹202.5 crore in the same period.
EBITDA rose by 80% YoY to ₹53 crore, with margins expanding by 800 basis points to 26.1%.
Stock price surged by 5.4% post-earnings, reaching a 52-week high of ₹1,328.
The stock has gained 48% in 2025 and 70% in the last six months.
- Who
- GM Breweries Ltd, Radico Khaitan, Allied Blenders, Sula Vineyards, United Spirits, United Breweries
- What
- Reported Q3 results with significant growth in profit and revenue, varying prospects for key listed players in the alcoholic beverages sector
- When
- October-December 2025 (Q3)
- Where
- India
- Why
- Strong performance in the country liquor market, varying sectoral prospects, and impact of Maharashtra Made Liquor (MML) policy
Optimistic View
Cautious View
Stock Performance
Optimistic View
GM Breweries' stock price surged by 5.4% post-earnings, reaching a 52-week high of ₹1,328, with significant gains in 2025 and the last six months.
Cautious View
Emkay Global has cut target prices for some players in the alcoholic beverages sector, including a 6-13% reduction for United Breweries and Sula Vineyards, due to a weaker outlook.
Sector Performance
Optimistic View
Domestic players like Radico Khaitan and Allied Blenders are expected to sustain outperformance and benefit from margin improvements due to easing grain prices.
Cautious View
Low-alcohol beverage players like Sula Vineyards and United Breweries are likely to underperform, with flat or declining earnings.
- Net Profit
- ₹42 crore (up 91% YoY)
- Revenue
- ₹202.5 crore (up 22% YoY)
- EBITDA
- ₹53 crore (up 80% YoY)
- EBITDA Margin
- 26.1% (up 800 basis points YoY)
- Stock Price
- ₹1,315 (up 5.4% post-earnings)
- 52-Week High
- ₹1,328
- 2025 Gains
- 48%
- 6-Month Gains
- 70%
- Radico Khaitan Earnings Growth
- 50% expected
- United Spirits Earnings Growth
- High single-digit expected
- Allied Blenders Earnings Growth
- Low single-digit expected
- Sula Vineyards Earnings Growth
- Flat expected
- United Breweries Earnings Growth
- 22% decline expected