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Som Distilleries & Breweries Limited (SDBL) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹15.3B (≈ $163M) · ISIN INE480C01020

What is Som Distilleries & Breweries Limited really worth?

SD Som Distilleries & Breweries Limited SDBL · BSE
Price₹74.09
Fair Value₹14.01
Upside−81.1%
Quality29/100

Below-average quality, and trading another 429% above our fair value of ₹14.01.

As of Aug 23, 2026, the fair value of Som Distilleries & Breweries Limited is ₹14.01 per share against a price of ₹74.09, so the fair value sits 81% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Expensive Growth (revenue 5y +33.7 %/yr)
!Loss over the last twelve months · -3.1% net margin · fiscal year 2026 0.8%
!Low debt · negative free cash flow
!Narrow moat 19/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range ₹9.81 – ₹16.02

Fair value as of: Aug 23, 2026

From 14 valuation models · updated 14 days ago

Share price +1.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹16.02). The favourable scenario is already priced in.
  • Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

₹170.05 ₹12.00 Fair Value ₹14.01 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range ₹12.00 – ₹170.05 · fair‑value band ₹9.81 – ₹16.02 · the ₹74.09 price screens above the ₹14.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Som Distilleries & Breweries Limited (SDBL) currently trades at ₹74.09, while our model-based Fair Value estimate is ₹14.01, implying the stock looks roughly 428.8% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Consumer Defensive sector. Bull case: the Asset-Based group reads highest at a median of ₹25.09 per share, and 0 of the 14 models we run sit above the ₹74.09 price. Bear case: the Earnings-Based group reads lowest at ₹10.37, and 14 of the 14 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Som Distilleries & Breweries Limited generated revenue of ₹9.7B at a net margin of −3.1%. Revenue declined 79.3% year over year. It earns a return on equity of 1.3%. Net debt stands at ₹1.9B. Fundamentals as of Aug 23, 2026

Our scenario range runs from ₹9.81 (bear case) to ₹16.02 (bull case); at ₹74.09, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 48% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −5% fair-value upside, at −81%, SDBL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence ₹25.82 ₹24.12 ₹18.06 76
EPV ₹18.66 ₹21.88 ₹24.70 74
ROIC Compounder ₹18.66 ₹21.88 ₹24.70 72
All 14 models by family
Earnings-Based
Graham-Dodd ₹3.39 ₹23.63 ₹33.16 63
Lynch FV ₹7.26 ₹10.37 ₹13.48 61
PEG = 1.0 ₹7.26 ₹10.37 ₹13.48 57
EPV ₹18.66 ₹21.88 ₹24.70 74
Multiples
P/E Multiple ₹7.85 ₹10.46 ₹13.08 63
P/S Multiple ₹6.35 ₹8.47 ₹10.59 58
P/B Multiple ₹6.35 ₹8.47 ₹10.59 55
EV/EBIT ₹31.43 ₹42.14 ₹52.84 66
EV/EBITDA ₹39.52 ₹52.92 ₹66.32 67
EV/Revenue ₹22.24 ₹32.06 ₹41.89 53
Asset-Based
NCAV (Graham) ₹18.72 ₹25.09 ₹37.45 54
Economic Profit
Residual Income best evidence ₹25.82 ₹24.12 ₹18.06 76
ROIC Compounder ₹18.66 ₹21.88 ₹24.70 72
Growth Earnings
Growth-Adj P/E ₹9.81 ₹14.01 ₹18.22 67

Widest divergence: Asset-Based (₹25.09) versus Earnings-Based (₹10.37). Highest evidence: Residual Income (76).

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Key figures & financial health

P/S ratio 1.58 TTM
EPS (TTM) ₹−1.45
Net margin 0.8% FY2026
Return on equity 1.3% TTM
Return on assets (EBIT) 7.0% avg 5y
Operating margin −44.4% TTM
More key figures
Growth
Revenue (TTM) ₹9.7B TTM
Revenue growth (YoY) −79.3% 3y avg +15.1%
EPS growth (YoY) −76.4%
Balance sheet & cash flow
Free cash flow −₹1.0B FY2026
Net debt ₹1.9B FY2026

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 36 · Market factors (momentum, volatility) 32

Profitability 34
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 5
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 35
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Som Distilleries & Breweries Limited engages in the manufacture and sale of beer and Indian made foreign liquor in India.

Full company description

Som Distilleries & Breweries Limited engages in the manufacture and sale of beer and Indian made foreign liquor in India. The company offers beer under the Hunter, Woodpecker, Black Fort, Legend, and Power Cool brand names; whisky under the Pentagon Gold, Milestone Blue, and Legend Premium brand names; rum under the Pentagon and Black Fort brand names; Vodka under the White Fox brand name; and brandy under the Legend Rare and Milestone VSOP brand names, as well as ready to drink products under the White Fox brand name. It also offers hand sanitizer under the Genius brand name. The company exports its products to Panama, Haiti, Ghana, Nigeria, Cameroon, Coorg, Angola, Congo, Zambia, Mozambique, Kenya, Sudan, Seychelles, the United Arab Emirates, the United Kingdom, Norway, Finland, Singapore, Malaysia, New Zealand, Japan, South Korea, Germany, and the United States. Som Distilleries & Breweries Limited was incorporated in 1993 and is based in Bhopal, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Som Distilleries & Breweries Limited reported revenue of ₹12.3B in FY2026 versus ₹3.6B in FY2022, a compound +35.7%/yr. Reported net income was ₹104M in FY2026.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹12.3B
Latest YoY
−14.8%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+33.7%
Avg. revenue growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.7%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−26.3% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−26.3%
Dividend yield0.0%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−8.0% (2021) → 4.3% (2026) · rising
Worst earnings drop254% (2021) (loss year, drop beyond 100%) · in INR
Revenue +35.7%/yr
FY22 ₹3.6B
FY23 ₹8.1B
FY24 ₹12.5B
FY25 ₹14.4B
FY26 ₹12.3B
Net income
FY22 −₹98.4M
FY23 ₹603M
FY24 ₹865M
FY25 ₹1.0B
FY26 ₹104M

SDBL screens 429% overvalued. Compare with Anheuser-Busch InBev SA →

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Cite: Fair Value Calculator (2026). "Som Distilleries & Breweries Limited Fair Value". https://www.fairvalue-calculator.com/stock/SDBL.BSE

Peer Group

Beverages - Brewers · 56 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 29 · Bottom 25%
Fair Value upside −81% · Bottom 25%
Return on equity (TTM) 1% · Bottom 25%
Return on assets 3% · Below median
Net margin (TTM) −3% · Bottom 25%
Operating margin (TTM) −44% · Bottom 25%
Revenue growth −79% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Beverages - Brewers median · lower = cheaper

P/S (TTM) 0.02× · Cheaper than 75% of peers
EV/EBITDA 0.9× · Cheaper than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

Similar stocks

10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Anheuser-Busch InBev SA ABI €68.28 €60.24 −12%
Heineken N.V HEIA €72.70 €65.06 −11%
Ambev S.A ABEV $2.86 $4.05 +42%
Fomento Económico Mexicano, S.A. FMX $120.41 $54.74 −55%
Constellation Brands, Inc STZ $129.09 $173.19 +34%
Carlsberg A/S CARLA kr 1,115 kr 607.30 −46%
Heineken Holding HEIO €68.25 €60.55 −11%
Tsingtao Brewery Company 600600 ¥51.63 ¥63.65 +23%
Budweiser Brewing Company 1876 HK$6.35 HK$6.05 −5%
China Resources Beer (Holdings) Company 0291 HK$22.16 HK$25.38 +15%

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Frequently asked questions

Is Som Distilleries & Breweries Limited (SDBL) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of ₹14.01 versus a price of ₹74.09, about −81% upside (overvalued).
What is the fair value of SDBL?
Our model-based fair value for Som Distilleries & Breweries Limited is ₹14.01 (as of Aug 23, 2026), built from audited fundamentals. The current price: ₹74.09.
What is the quality score of SDBL?
Som Distilleries & Breweries Limited has a Quality Score of 29/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Som Distilleries & Breweries Limited (SDBL)?
Our model-based price target is the fair value of ₹14.01 (as of Aug 23, 2026) from 14 valuation models. Cautious scenario ₹9.81, optimistic scenario ₹16.02. It is a calculation from audited fundamentals, not an analyst target.
What is the Som Distilleries & Breweries Limited stock forecast for 2026?
Our models put fair value at ₹14.01, about −81% upside versus a price of ₹74.09 (overvalued). Cautious scenario ₹9.81, optimistic scenario ₹16.02. The calculation is refreshed regularly with new filings.
What is the revenue of Som Distilleries & Breweries Limited (SDBL)?
Som Distilleries & Breweries Limited reported trailing-twelve-month revenue of about ₹9.7B (latest available figure, as of Aug 23, 2026).
What is the net profit margin of SDBL?
The net profit margin of Som Distilleries & Breweries Limited is about −3.1%, meaning it is currently running at a net loss. Based on the latest reported figures.
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