The company further stated that Telangana, recognized as one of the largest markets for beer consumption in India, presents a significant opportunity for expansion and increased sales.

"The approval marks a pivotal step for us as we seek to broaden our market reach and cater to the robust demand for beer in the region.

With this new permission, we anticipate a substantial increase in sales volume in the short to medium term, bolstering the company’s growth trajectory and market presence,” Som Distilleries said in a statement.

Som Distilleries and Breweries is primarily engaged in brewing, fermentation, bottling, canning and blending of beer and Indian Made Foreign Liquor (IMFL). It also supplies draught beer from its plants.

The company’s consolidated net profit jumped 17.97% to Rs 18.84 crore in Q4 FY24 as compared with Rs 15.97 crore in Q4 FY23. Revenue from operations (excluding excise duty) jumped 43.27% to Rs 381.59 crore in Q4 FY24 as compared with Rs 266.34 crore posted in same quarter last year.

The scrip tumbled 5.10% to currently trade at Rs 134.10 on the BSE.

Som Distilleries recently split its shares in a 5:2 ratio, reducing the face value from Rs 5 to Rs 2 per share. The record date for determining shareholders eligible for the split was May 24, 2024. This is the company's second stock split since the Covid era, the first being a 1:2 split in October 2020, which reduced the face value from Rs 10 to Rs 5 per share.