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

Updated : December 14, 2020 10:53:06 IST

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.

CNBC-TV18’s Nimesh Shah gets more details in the special segment ‘Standout Brokerage Report’.

For more detail, watch video
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