Monika AlcobevShare price, financial results, shareholding and management
- Market cap
- ₹294 cr
- Stock P/E
- 9.1peers 57.4
- Book value
- ₹114
- Price to book
- 1.20
- EV / operating profit
- -
- Market cap to sales
- 0.98
- ROCE · FY26
- 14.5%
- ROE · FY26
- 18.9%
- ROE, 3-year average
- 31.4%
- Operating margin · FY26
- 15.1%peers 8.3%
- Sales growth, 3 years
- 29.1%
- Profit growth, 3 years
- 35.2%
- Debt to equity
- 0.86peers 0.57
- Borrowings
- ₹211 cr
- Interest cover
- 2.9×
- Cash from business / op. profit
- -225%
- Debtor days
- 194
- Pledged
- 0.00%
- Promoter holding
- 62.10%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 1,221
- 52-week high / low
- ₹311 / ₹108
- Dividend yield
- Paid
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Monika Alcobev share price chart
Close on 6 Nov 2026 · +0.62% on the day · Vol 3,600
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -16.1%
- 3 months
- -27.7%
- 6 months
- -45.9%
- 1 year
- -52.8%
- Traded a day, 20 days
- ₹0.19 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +28% | +40% |
| 3 years, a year | +29% | +35% |
| Latest half, H2 FY26 | +21% | +23% |
About Monika Alcobev: business, products and customers
Monika Alcobev imports premium spirits, wines and liqueurs from global brand owners such as Jose Cuervo, Bushmills and Cointreau, and sells them across India and nearby countries to state liquor corporations, distributors, hotels, bars and duty free shops. Its shares trade on BSE SME.
Monika Alcobev holds exclusive rights from more than seventy global brand owners to import, distribute and market their spirits, wines and liqueurs in India and in Nepal, Sri Lanka and the Maldives. Its brands include Jose Cuervo and 1800 tequila, Bushmills Irish whiskey, Rémy Martin cognac and Cointreau liqueur, and in FY26 it added Jinro soju from Korea and Licor 43 from Spain. The business grew out of Monika Enterprises, a family partnership firm the company took over when it was incorporated in January 2022, and its shares listed on BSE SME in July 2025.
It is a trading business, not a maker: it usually pays brand owners upfront, ships bottles by sea, clears customs and food safety checks, keeps stock in bonded warehouses rented on a pay per use basis, registers each label in each state every year, and sells to state corporations, distributors, hotels, restaurants and travel retail. That keeps fixed assets small but ties up a lot of money, because stock takes months to arrive and state corporations can take more than a year to pay, so operating cash flow has stayed negative while sales grew. Brand owners repay part of the marketing spend, and sales are highest from October to March, when festivals, weddings and cooler weather lift demand.
Read more about the business
The rating agency names United Spirits (Diageo) and Pernod Ricard as the largest importers, both selling their own brands, Radico Khaitan and Allied Blenders and Distillers as large Indian makers, and Brindco Sales and Prestige Wines and Spirits as other importing traders. Unlike the listed makers, Monika Alcobev owns no brands or distilleries; the offer document sets its sales per case beside United Spirits, Radico Khaitan and Allied Blenders to show that it sells at the expensive end of the market.
In FY26 sales rose by more than a quarter while the company tripled its own advertising to launch and push brands, so profit from trading before other income barely moved. Money from the July 2025 share issue went mostly into stock and credit to customers, as the offer document had planned.
From the offer document (prospectus, July 2025), the FY26 annual report and the Infomerics rating rationale of September 2025.
Read the deeper study ↓In its favour
- Sales have grown fast: 29% a year over three years.
- The promoters own a large part of the company: 62.10%.
- It paid a dividend in the past year.
To watch
- The tax assessment that will test the move to the lower section 115BAB tax rate, which the auditor highlighted as a matter of emphasis (Annual report FY26, p.48 and p.84).
- Collection of customer dues, of which ₹15.5 cr was more than six months past due at March 2026 (Annual report FY26, p.69).
- Dealings with group company Infinity Global Supply Chain, which charged ₹7.5 cr for storage and bought ₹6.5 cr of goods in FY26 (Annual report FY26, p.74).
- Results for the half year to September 2026, due after the trading window closed on 28 September 2026 (Trading window notice, 28 September 2026).
- The business used more cash than it brought in last year: ₹102 cr went out in FY26.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Monika Alcobev revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before.
Monika Alcobev half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 84 | 152 | 116.87 | 184.28 |
| Expenses | 70 | 120 | 99.28 | 156.54 |
| Operating profit | 15 | 31 | 17.60 | 27.74 |
| OPM | 17.0% | 21.0% | 15.1% | 15.1% |
| Interest | 8 | 10 | 8.70 | 9.34 |
| Depreciation | 0 | 1 | 1 | 0.99 |
| Profit before tax | 7 | 24 | 10.35 | 24.18 |
| Net profit | 5 | 18 | 9.97 | 22.17 |
Monika Alcobev profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 18 | 140 | 189 | 235 | 301.15 |
| Expenses | 15 | 114 | 156 | 189 | 255.81 |
| Operating profit | 4 | 26 | 33 | 46 | 45.34 |
| OPM | 20.0% | 18.0% | 17.0% | 20.0% | 15.1% |
| Other income | 0 | 1 | 2 | 4 | 9.21 |
| Interest | 1 | 6 | 11 | 18 | 18.04 |
| Depreciation | 0 | 1 | 1 | 1 | 1.99 |
| Exceptional and other items | · | -1 | · | · | · |
| Profit before tax | 3 | 19 | 23 | 31 | 34.52 |
| Tax rate | 33.3% | 31.6% | 26.1% | 25.8% | 6.9% |
| Net profit | 2 | 13 | 17 | 23 | 32.14 |
| EPS ₹ | 1.27 | 9.31 | 10.38 | 13.87 | 16.08 |
| Dividend payout | 0.0% | 15.0% | 14.0% | 10.0% | 7.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Monika Alcobev profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 20.0% | 18.0% | 17.0% | 20.0% | 15.1% |
| Tax rate | 33.3% | 31.6% | 26.1% | 25.8% | 6.9% |
| ROCE | · | 30.7% | 25.2% | 21.7% | 14.5% |
| ROE | · | 123.8% | 45.3% | 29.9% | 18.9% |
| Dividend payout | 0.0% | 15.0% | 14.0% | 10.0% | 7.0% |
Monika Alcobev debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Monika Alcobev balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 17 | 21 |
| Reserves | 2 | 15 | 56 | 79 | 223 |
| Net worth | 4 | 17 | 58 | 96 | 244 |
| Borrowings | 70 | 72 | 123 | 174 | 211 |
| Other liabilities | 16 | 40 | 35 | 54 | 37 |
| Total liabilities | 90 | 129 | 216 | 324 | 492 |
| Fixed assets | 6 | 5 | 5 | 19 | 18 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 84 | 124 | 211 | 305 | 474 |
Monika Alcobev cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 5 | -6 | -54 | -26 | -102 |
| Cash from investing | 0 | 1 | -13 | -26 | -17 |
| Cash from financing | 3 | -3 | 67 | 52 | 136 |
| Net cash flow | 8 | -8 | 0 | 0 | 17 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 815 | 188 | 185 | 158 | 194 |
| Inventory days | 897 | 169 | 266 | 374 | 395 |
| Days payable | 318 | 101 | 43 | 60 | 19 |
| Cash conversion cycle | 1,394 | 257 | 408 | 471 | 569 |
| Working capital days | 523 | 109 | 102 | 108 | 198 |
Monika Alcobev peers and competitors
Listed SME companies in the same industryBy sales, Monika Alcobev is number 1 of the 3 listed SME companies in beverages.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Monika Alcobev | 294 | 9.1 | 301 | 32.1 | 15.1% | 0.86 |
| Alcokraft Distilleries | 67 | 7.4 | 136 | 9 | 14.5% | 0.78 |
| Valencia Nutrition | 117 | 107.4 | 7.9 | 1.1 | 2.0% | 0.36 |
| Median of the 2 others | 92 | 57.4 | 72.1 | 5 | 8.3% | 0.57 |
Monika Alcobev shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Monika Alcobev shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 | |
|---|---|---|---|---|---|
| Promoters | 62.10% | 62.10% | 62.10% | 62.10% | 62.10% |
| Foreign investors (FIIs) | 12.61% | 11.62% | 8.93% | - | - |
| Indian institutions (DIIs) | 1.75% | 1.11% | 1.07% | - | - |
| Number of shareholders | 1,370 | 1,309 | 1,250 | 1,221 | 1,221 |
Monika Alcobev study: the business from its own documents
Read from 3 of the company's own documentsMonika Alcobev key facts from the filings
Each figure with the document it comes from
- FY26 sales
- ₹301.2 cr
- Up 27.5% from ₹236.1 cr, led by tequila, Irish and Japanese whisky, gin, wine and liqueurs.Annual report FY26, p.20 and p.27
- Advertising and marketing
- ₹29.4 cr
- Up from ₹9.0 cr in FY25, after brand owners repaid a further ₹32.7 cr of marketing costs.Annual report FY26, p.27 and p.73
- Profit before tax
- ₹34.5 cr
- Up 16.7% before a one time property gain in FY25; tax fell to ₹2.4 cr from ₹7.8 cr, so profit after tax rose 39% to ₹32.1 cr.Annual report FY26, p.27 and p.54
- Other income
- ₹9.2 cr
- Up from ₹2.2 cr; ₹5.8 cr was a gain on foreign currency and ₹2.7 cr interest on deposits.Annual report FY26, p.71
- Operating cash flow
- Minus ₹101.8 cr
- Cash used in FY26 as customer dues rose ₹57.1 cr and stock ₹46.4 cr; FY25 was minus ₹25.9 cr.Annual report FY26, p.55
Show 5 more facts
- Stock and customer dues
- ₹354.8 cr
- Stock of ₹195.8 cr and receivables of ₹159.0 cr at March 2026, more than a full year of sales (our arithmetic).Annual report FY26, p.54
- Top ten customers
- 64.2%
- Share of FY25 sales; the largest single customer gave 12.7%, and 71 customers bought in the year.Offer document, p.155 and p.159
- Whisky and tequila
- 72.0%
- Share of FY25 sales, up from 59.3% in FY23.Offer document, p.35
- Largest supplier
- 37.8%
- Share of FY25 purchases from one brand owner; rights are held through letters of authority, not long term contracts.Offer document, p.34, p.35 and p.158
- Rum imports share
- 12.3%
- Top importer of rum and 19.0% of tequila imports in FY24, per an industry report the company paid for.Offer document, p.33 and p.152
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it will keep adding global brands and widen its reach across India and nearby countries. It plans a phased rollout of Jinro soju across more large and mid sized cities and of Licor 43 into states including Karnataka, Telangana and Tamil Nadu. The offer document planned to spend most of the share issue money on working capital in FY26 and the half year to September 2026; the directors' report says the money was used as stated.
| What management said | When | What happened |
|---|---|---|
| Share issue money for working capital, loan repayment and general purposes | Offer document, July 2025 | Used as stated, with no deviation, per the directors' report |
| Stock of about ₹197.8 cr by March 2026 (working capital plan) | Offer document, July 2025 | ₹195.8 cr |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Monika Alcobev earns a trading margin on famous foreign drinks it imports under exclusive rights, and it has grown sales every year as more Indians choose premium imported spirits.
Its weak spots are the large sums locked in stock and slow paying customers, rights that brand owners grant through letters rather than long contracts, and heavy dependence on tequila and whisky.
AverageCan it set its own prices?The rating agency says it is free to price imported products, but prices are set state by state against rivals and excise rules, and its own marketing costs rose sharply in FY26.
AverageHow strong is it against rivals?It leads in niches such as rum and tequila imports and holds exclusive brand rights, but the market is led by much larger groups with their own brands and bigger networks.
WatchWho are its customers?A small number of large buyers, including state corporations that pay slowly, give most of its sales.
WatchDoes it need a lot of money?Yes. Upfront payment for imports, long shipping and slow collections mean every rise in sales needs much more cash, and operating cash flow has been negative.
AverageCan it keep finding new work?It adds new brands each year and imported spirits are a growing market, but brand owners can change or end the rights, and two drinks give most sales.
AverageDo good and bad years swing a lot?Sales have risen every year, but demand is seasonal and depends on state liquor rules, and margins moved with marketing spend.
Who runs Monika Alcobev?
Promoters, directors and officers; tap a name for the background
BNBhimji Nanji PatelPromoter, Chairman and Whole Time Director · holds 42.50%
Began with a general store in Mumbai in 1981 that became a supermarket, according to the chairman's letter. The offer document says Bhimji Nanji Patel has no formal qualifications, has over 18 years in the clothing and alcohol beverage trade, was a partner in Infinity and in Monika Enterprises, the predecessor firm, and oversees financing and licensing. Listed in the offer document as the father of Kunal Bhimji Patel. Lends the company ₹10.5 cr interest free, repayable on demand, and was a director of two companies later struck off, Infinity Clothing and Exterior Art.
Offer document, p.181, p.182 and p.200; Annual report FY26, p.19, p.22 and p.66KBKunal Bhimji PatelPromoter and Managing Director · holds 19.58%
On the board since January 2022 and Managing Director since February 2025. Holds a Bachelor of Commerce from the University of Mumbai, was a partner in Monika Enterprises and has over ten years in the alcobev trade; leads sales, marketing, brand building and operations.
Offer document, p.179, p.181 and p.182; Annual report FY26, p.22JPJagruti Prashant ShethIndependent Director
A chartered accountant and law graduate with over 27 years in corporate restructuring, mergers, private equity and share issues, and an insolvency resolution professional. On the board since February 2025; chairs the audit committee since November 2025.
Offer document, p.181; Annual report FY26, p.22 and p.31GVGhanshyam VyasIndependent Director
A chartered accountant with over 40 years in audit, taxation and international assignments. Appointed in November 2025, after independent directors Nayan Rawal and Prasannakumar Gawde resigned on 13 November and 9 December 2025, citing pre-occupation and other professional commitments.
Annual report FY26, p.22 and p.29SKSamir Kumar DasIndependent Director
Over 26 years in financial services, covering governance, risk, credit and stressed asset resolution; a certified insolvency professional. Appointed in November 2025.
Annual report FY26, p.22 and p.29AMAshish Manubhai MandaliyaChief Financial Officer
Chief Financial Officer since January 2025 and with the business since 2020. A chartered accountant and company secretary, earlier at Sun Pharmaceutical Industries and at VIP Clothing as chief financial officer and company secretary.
Offer document, p.195 and p.196; Annual report FY26, p.22Monika Alcobev latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹184 cr (+21%), net profit ₹22.2 cr (+23%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 62.10%.
Monika Alcobev announcements
5 on record, latest first; each opens the filing on the exchange
- Company UpdateClarification w.r.t query raised by BSE for significant movement in price of scrip of the CompanyPDF ↗
- Company UpdateThe Exchange has sought clarification from Monika Alcobev Ltd on October 12, 2026 with reference to significant movement in price, in order to ensure that inves
- Company UpdateCompliance Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 for quarter ended 30th September 2026PDF ↗
- Company UpdateDisclosure under Regulation 30 of the SEBI Listing RegulationPDF ↗
- Insider Trading / SASTIntimation of Closure of Trading WindowPDF ↗
Monika Alcobev annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Monika Alcobev share split, bonus and dividends
From the corporate actions the company announces on the exchange
- DividendFinal Dividend - Rs. - 1.0000ex-date 18 June 2026
Checks we ran on Monika Alcobev's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,14,49,961 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Monika Alcobev
What does Monika Alcobev do?
Monika Alcobev imports premium spirits, wines and liqueurs from global brand owners such as Jose Cuervo, Bushmills and Cointreau, and sells them across India and nearby countries to state liquor corporations, distributors, hotels, bars and duty free shops. Its shares trade on BSE SME.
What is the share price of Monika Alcobev?
₹137 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Monika Alcobev?
₹294 cr at the close on 6 Nov 2026, on 2,14,49,961 shares.
What is the P/E of Monika Alcobev?
9.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Monika Alcobev's revenue and profit?
Revenue ₹301 cr and profit after tax ₹32 cr in FY26.
Who are the promoters of Monika Alcobev?
Bhimji Nanji Patel, Kunal Bhimji Patel; promoters held 62.10% at 30 Sept 2026.
What is Monika Alcobev's website?
monikaalcobev.com
More SME companies like Monika Alcobev
Other listed SME companies in beverages, the closest in size first, each read from its own documents.
Built from 1 offer document, 1 annual report, 1 credit rating note, 5 exchange announcements, 5 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.