homevideos Newsmarket NewsStandout Brokerage Report: Emkay bullish on liquor cos; expects earnings rebound

Standout Brokerage Report: Emkay bullish on liquor cos; expects earnings rebound

Emkay’s in its note on alcohol companies said that channel checks and volume trends from six states reflects sharp normalisation. Volumes of Indian Made Foreign Liquor (IMFL) are up 7 percent year-on-year (YoY) and the beer volumes have reached 80 percent of pre-COVID levels in the month of October-November.

By Nimesh Shah Dec 14, 2020 10:53:06 AM IST (Published)

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Emkay’s in its note on alcohol companies said that channel checks and volume trends from six states reflects sharp normalisation. Volumes of Indian Made Foreign Liquor (IMFL) are up 7 percent year-on-year (YoY) and the beer volumes have reached 80 percent of pre-COVID levels in the month of October-November.

This could translate into an earnings recovery as well, Emkay feels.

For the second half of the year, they expect a 50 percent earnings recovery versus a 100 percent decline in earnings in the first half of FY21.