BSE: 544451
MONIKA ALCOBEV LIMITED
Imports and distributes premium wines and spirits across India, operating as an independent importer of 100+ global brands. Sells tequila, agave spirits, Irish whiskey, Japanese whisky, gin, imported wines, and liqueurs through HORECA, retail, and travel retail channels, reaching 9,500+ touchpoints across 25+ Indian states. In FY26, revenue grew 27.53% to ₹301.16 crore and profit after tax rose 39.07% to ₹32.14 crore, with the company stepping into Kerala and adding brands like Angostura, Jinro, and Licor 43 to its portfolio. The model is brand-led rather than manufacturing-led: it represents overseas marques such as Jose Cuervo, 1800 Tequila, Remy Martin, and Cointreau, with the latest partnership bringing Angostura's 5-Year-Old Rum and bitters to India. Costs are dominated by employee expenses at 7.4% of revenue and other operating expenses at 17.4%, while higher advertising and promotion spends compressed EBITDA margins to 18% from 20% in FY25. Operating cash flow swung sharply negative on build-ups in trade receivables and inventories, and the company listed on BSE's SME platform in July 2025 via an IPO that earmarked ₹100.64 crore of its ₹137.03 crore proceeds for working capital. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Alcohol and beverages (single segment) (100%). Asset-light, brand-led importer and distributor of premium alco-beverages
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 301 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 16.08 |
| ROE % · ROCE % | — · 21.4 |
| Debt / equity (x) | — |
| Cash from operations | (102) |
| Capex | (1) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 117 | 184 |
| Profit before tax | 10 | 24 |
| Net profit | — | — |
| EPS (₹) | 5.38 | 10.34 |
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. % |
|---|---|---|---|---|---|---|---|---|
| UNITED SPIRITS LIMITED | 92,075 | 47.9 | 10.28 | 34.1 | 20.5 | 23.1 | 0.3 | 6.9 |
| RADICO KHAITAN LTD | 57,457 | 68.8 | 17.33 | 56.8 | 18.2 | 22.1 | 15.1 | 6.0 |
| UNITED BREWERIES LTD | 30,041 | 76.0 | 6.63 | 34.0 | 9.1 | 12.1 | 11.4 | 5.6 |
| ALLIED BLEND N DISTILS L | 19,356 | 88.4 | 11.48 | 36.1 | 13.1 | 17.8 | — | 6.6 |
| TILAKNAGAR INDUSTRIES LTD | 12,041 | — | 4.04 | 66.2 | 0.7 | 0.4 | 29.9 | 6.4 |
| PICCADILY AGRO INDUSTRI L | 5,540 | 39.1 | 6.15 | 25.1 | 15.3 | 17.5 | 18.3 | 17.3 |
| INDIA GLYCOLS LTD | 2,225 | 6.7 | 0.76 | 5.8 | 10.0 | 7.3 | 12.6 | 5.7 |
| GLOBUS SPIRITS LTD | 2,126 | 17.9 | 1.95 | 9.7 | 8.4 | 8.5 | 16.7 | 6.9 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.0 | 32.8 | 6 of 21 | 75% |
| ROCE | 14.1 | 3.7 | 8 of 26 | 72% |
| Market cap | 268 | 740 | 17 of 26 | 36% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Clarification on significant price movement in scrip | regulatory legal | medium | — | — |
| 9 Oct 2026 · Exchange seeks clarification on significant price movement | regulatory legal | high | — | — |
| 7 Oct 2026 · Routine compliance certificate for quarter ended September 2026 | compliance | minimal | — | — |
| 29 Sept 2026 · Casa Cuervo, Proximo to end Monika Alcobev distribution deal by March 2027 | business updates | critical | — | — |
| 28 Sept 2026 · Monika Alcobev Trading Window Closed Ahead of H2 Results | compliance | minimal | — | — |
| 10 Aug 2026 · Monika Alcobev becomes Remy Cointreau's exclusive India partner | strategic transactions | high | — | — |
| 8 Aug 2026 · Monika Alcobev clarifies distribution arrangement with Proximo Group remains active | business updates | high | — | — |
| 5 Aug 2026 · Secretarial Auditor re-appointed for FY 2026-27 | management changes | low | — | — |
| 27 Jul 2026 · Monika Alcobev partners with Angostura to bring Caribbean brand to India | compliance | low | — | — |
| 6 Jul 2026 · Compliance Certificate for Apr-Jun 2026 Quarter - No Share Transfer Activity | compliance | minimal | — | — |
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.