Asgard Alcobev Completes Beverage Pivot, FY26 Revenue Jumps to ₹101.51 Crore

Consolidated Revenue (FY26): ₹101.51 crore | Net Profit (FY26): ₹1.49 crore

Reader Takeaway: Strategic shift to beverages completed; revenue up, but profit dips slightly year-on-year.

What Just Happened

Asgard Alcobev Limited, formerly known as Banganga Paper Industries Limited, has reported its audited financial results for the fiscal year 2026. The company has completed a significant strategic transformation, exiting the paper business and fully pivoting to the beverage industry. This involved selling its subsidiary, Banganga Paper Mills Ltd, and acquiring a majority stake in CMJ Breweries Pvt Ltd.

Why This Matters

This business overhaul marks a new chapter for Asgard Alcobev. The consolidated revenue from operations for FY26 surged to ₹101.51 crore, a significant increase from ₹58.10 crore in FY25. This reflects the new direction and operational scale in the beverage sector. However, consolidated net profit after tax saw a marginal decrease to ₹1.49 crore in FY26, down from ₹1.88 crore in FY25. The company's standalone operations reported zero revenue, indicating its current role as a holding entity post-restructuring.

The Backstory

The company initiated this transformation after an Extra-ordinary General Meeting (EGM) on January 14, 2026. The company's object clause was amended to focus on manufacturing, brewing, distilling, bottling, and marketing alcoholic and non-alcoholic beverages. The sale of Banganga Paper Mills Ltd was completed during the quarter ending March 31, 2026, for ₹11.22 crore. Subsequently, Asgard Alcobev acquired a 78.90% stake in CMJ Breweries Pvt Ltd on February 17, 2026.

What Changes Now

Asgard Alcobev will now operate under a single business segment: 'Beverages'. The financial reporting will primarily reflect the performance of its beverage operations, including the newly acquired CMJ Breweries. Investors can expect future updates to be centered around the growth and profitability of this new core business.

Risks to Watch

Future performance will hinge on the successful integration of CMJ Breweries and the company's ability to generate profits in the competitive beverage market. The slight decline in net profit despite revenue growth warrants attention.

Peer Comparison

While specific beverage peers are not detailed in the filing, the company's move places it within India's growing alcoholic and non-alcoholic beverage market, competing with established and emerging players.

Context Metrics

• Consolidated Revenue FY26: ₹101.51 crore (up from ₹58.10 crore in FY25)
• Consolidated Net Profit FY26: ₹1.49 crore (down from ₹1.88 crore in FY25)
• Standalone Revenue FY26: ₹0 crore
• Standalone Net Profit FY26: ₹0.56 crore (up from ₹-0.16 crore in FY25)
• Sale of Banganga Paper Mills: ₹11.22 crore
• Acquisition of CMJ Breweries: 78.90% stake completed February 17, 2026.

What to Track Next

Investors should closely monitor the operational performance and profitability of CMJ Breweries, management's strategies for growth in the beverage sector, and future financial results reflecting the consolidated entity's performance.