Rare Indian Shares ( by Ashwani K Aggarwal ): Altius Investment on Mohan Meakin

May 17, 2026

Altius Investment on Mohan Meakin - Message Received

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Mohan Meakin: A Legacy Beverage Player Driving Profitable Growth

Pleased to present Mohan Meakin Limited, one of India’s oldest and most established beverage companies, with a diversified presence across alcoholic and non-alcoholic segments.

Financial Performance – 9M FY26

The company reported revenue of ₹1,683.20 Cr, up +9.3% YoY, reflecting steady demand across segments.
EBITDA rose sharply to ₹167.8 Cr, up +56.5% YoY, indicating strong margin expansion.
PAT surged to ₹116.6 Cr, up ~67.6% YoY, significantly outpacing revenue growth and highlighting operating leverage.
The alcoholic segment remained the key driver, with revenue at ₹1,671.63 Cr (up +9.4%) and segment profit rising +56.4% to ₹167.76 Cr, showing sharp improvement in core profitability.
A major shift in cost structure supported margins, with excise duty declining by ₹300.53 Cr while purchase costs increased by ₹332.41 Cr, resulting in only a ~₹31.88 Cr net cost increase despite ₹143.12 Cr revenue growth, driving PBT margin expansion from 6.07% to 9.28%.
Overall, the 67.6% YoY jump in PAT was driven not just by growth but by strong margin expansion, improved segment profitability, and non-operating income support.