Shares of GM Breweries touched a day’s high of Rs 1,020.65 on the NSE Thursday, July 9, before slipping back after its Q1 results.

Net profit for the quarter came in at Rs 37.7 crore, up 46% from Rs 25.8 crore a year earlier. Revenue rose 22.7% to Rs 200 crore, against Rs 163 crore in the same period last year.

The real story though was in the margins. EBITDA jumped 50.5% to Rs 46.5 crore, and margins expanded over 400 basis points to 23.27%, up from 18.97%.

That’s a meaningful jump in how efficiently the company is running its business. Yet the stock had a rough ride through the day.

It had surged as much as 6% earlier in the session before reversing and falling nearly 4% from those highs.

Part of the reason likely lies in the sequential numbers. Net profit actually fell 30.2% compared to the March quarter’s Rs 54.07 crore, even though the year on year picture looked strong.

GM Breweries remains one of the bigger names in India’s country liquor business, with most of its operations concentrated in Maharashtra.

The turnaround is notable given that Q4 of FY26 had seen an 11% drop in profit compared to the year before.

At 15:15 pm, GM Breweries shares were trading at Rs 970.10 on the NSE, up 1.08% for the day, holding on to some of the earlier gains even as the stock cooled off.

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