BSE: 512301
CHAMBAL BREWERIES & DISTILLERI
Despite a name suggesting brewing or distilling, the company currently has no business operations and reported nil revenue from operations in FY26. The only income came from other sources totaling Rs 3.78 lakhs for the year, while it posted a net loss of Rs 19.44 lakhs, compared with an Rs 8.32 lakh loss in FY25. The board has approved a draft scheme of amalgamation to merge the company into Invade Agro Limited, which already holds 22.93% of it, with a swap ratio of 5 Invade Agro shares for every 2 Chambal shares, subject to NCLT, shareholder and creditor approvals. The statutory auditor flagged going concern uncertainty, noting that management is still identifying new plans to start business operations. Q1 FY27 continued this pattern with nil revenue from operations, a net loss of Rs 4.68 lakhs, and operating cash flow negative at Rs 9.50 lakhs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Revenue from operations, Other income. Non-operating shell company with amalgamation pending into Invade Agro Limited.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) | (3) | (0) | (0) |
| margin % | — | — | — | — | — |
| Owners' profit | (0) | (0) | (2) | (0) | (0) |
| EPS, as reported (₹) | (5.51) | (0.50) | (3.29) | (0.11) | (0.26) |
| ROE % · ROCE % | (1.4) · (1.4) | (10.2) · (10.2) | (205.0) · (205.0) | (7.4) · (7.4) | (21.0) · (21.0) |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (0) | (0) | (0) | (0) | (0) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) |
| Net profit | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) |
| EPS (₹) | (0.01) | (0.01) | (0.05) | (0.10) | (0.04) | (0.06) | (0.06) | (0.10) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 25,680 | 13.8 | 2.36 | 12.2 | 8.0 | 10.8 | 15.9 | 2.0 |
| MMTC LIMITED | 8,018 | 17.9 | 3.78 | — | 18.3 | 21.6 | (83.7) | (2969.1) |
| MSTC LIMITED | 4,160 | 17.8 | 4.60 | 16.7 | 24.2 | 31.8 | (13.9) | 61.3 |
| CREATIVE NEWTECH LIMITED | 1,993 | 28.0 | 4.64 | 26.8 | 9.2 | 10.3 | — | 5.0 |
| Pervasive Commodities Limited | 1,182 | 77.2 | 13.13 | — | 0.0 | 0.0 | — | 1.9 |
| The Yamuna Syndicate Ltd | 774 | 8.5 | 0.60 | 508.1 | 4.0 | 0.3 | 4.8 | 3.4 |
| SHIV AUM STEELS LIMITED | 748 | 65.8 | 6.19 | 54.1 | 6.0 | 6.9 | — | 4.7 |
| THE STATE TRADING CORPN | 624 | 0.9 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 26.2 | 0.9 | 149 of 151 | 1% |
| ROCE | (21.0) | 1.6 | 168 of 175 | 4% |
| ROE | (21.0) | 2.0 | 150 of 158 | 5% |
| Debt / Equity | 0.0 | 0.1 | 1 of 156 | 75% |
| Profit growth | (5.6) | 1.7 | 83 of 160 | 48% |
| Market cap | 24 | 21 | 82 of 178 | 54% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 4 Nov 2026 · Board meeting set for September 2026 results | results | low | — | — |
| 9 Oct 2026 · Routine SEBI compliance certificate for quarter ended 30 Sep 2026 | compliance | minimal | — | — |
| 29 Sept 2026 · AGM 2026: all 4 resolutions passed with 100% approval | compliance | minimal | — | — |
| 28 Sept 2026 · Chambal Breweries: Director re-appointment and new Independent Director at AGM | management changes | medium | — | — |
| 28 Sept 2026 · Re-appointment of director and new independent director approved at AGM | management changes | medium | — | — |
| 28 Sept 2026 · Proceedings of the Annual General Meeting of the company held on 28.09.2026. | board shareholder meetings | low | — | — |
| 5 Sept 2026 · AGM Notice Dispatched to Shareholders Without Registered Emails | compliance | minimal | — | — |
| 5 Sept 2026 · Newspaper publication of 41st AGM notice and e-voting details | compliance | minimal | — | — |
| 5 Sept 2026 · 41st Annual Report FY26 filed; company inactive, net loss Rs 19.44 lakh | results | high | — | — |
| 5 Sept 2026 · 41st AGM on Sep 28, 2026 at 3 PM via video conferencing | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.