Shares of Som Distilleries have gained nearly 200 percent this year.
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Som Distilleries & Breweries has entered into a contract manufacturing arrangement with Radico Khaitan for manufacturing Indian-manufactured foreign liquor (IMFL) and ready-to-drink brands.
The company will manufacture the IMFL and ready-to-drink beverages for Radico at its plant in Hassan, Karnataka.
“This will lead to better utilisation levels of our IMFL facility,” Som Distilleries said in a BSE filing.
The company, which manufactures the popular Hunter Beer, reported a consolidated net profit of Rs 25.66 crore in the quarter that ended June 2022. Som Distilleries had reported a net loss of Rs 12.61 crore for the same quarter in the previous year.
Shares of Som Distilleries may be trading lower on Thursday, but the stock has nearly tripled this year.