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Awaiting price reaction for this filing.
Asgard Alcobev Limited has completed the acquisition of a 78.90% equity stake in CMJ Breweries Private Limited (CMJBPL) through a share swap arrangement. CMJBPL, based in Meghalaya, is recognized as the largest brewery in Northeast India and operates as a contract brewing partner for major Indian and international beer brands. With this acquisition, CMJBPL has become a subsidiary of Asgard Alcobev, marking the company's entry into the alcoholic beverages segment. CMJBPL's standalone turnover has declined over the past three years, from ₹45,337.43 lakhs in FY23 to ₹32,938.60 lakhs in FY24 and ₹25,200.19 lakhs in FY25.
This acquisition diversifies Asgard Alcobev's business portfolio by entering the high-demand alcoholic beverages space, but the declining turnover trend at CMJBPL raises concerns about near-term performance. Shareholders should watch for integration updates and any improvement in CMJBPL's revenue trajectory.