Mohan Meakin Limited

Mohan Meakin Limited :


The Company’s remarkable performance is not limited to liquor, its business interests are manifold. Turning foresight into reality is the Fruit juices, Breakfast Foods, Mineral Water, and Glass Factory – a strategic diversification to further reinforce its business interests. Mohan Meakin's principal brands are Old Monk Rum and Golden Eagle Beer.

Mohan Meakin Unlisted Shares

About the Company

  • The Company’s remarkable performance is not limited to liquor; its business interests are manifold. Turning foresight into reality is the Fruit juices, Breakfast Foods, Mineral Water and Glass Factory – a strategic diversification to further reinforce its business interests.
  • MML owns brands such as Old Monk in the rum segment and Meakin 10000, Asia 72, and Golden Eagle in the beer segment.
  • MML has two manufacturing facilities to manufacture beer, spirit, and food products (largely grain flakes) at Mohan Nagar in UP and Kasauli/Solan in Himachal Pradesh (HP). In addition, it has bottling plants at Mohangram in Punjab and Solan in HP.
  • Mohan Meakin Limited (MML) is a large group of companies that started with Asia's first brewery. The Company is engaged in the business of manufacturing alcoholic and non-alcoholic beverages.
  • MML was incorporated in the year 1855 (but established much earlier) by Edward Dyer at Kasauli in the Himalayan Mountains in India under the name Dyer Breweries.
  • The Company has various factories located in Solan, Kasauli, Mohan Gram, Mohan Nagar and Lucknow.

History & Evolution

  • Edward Dyer established a Brewery at Kasauli in 1855. He was India’s brewing pioneer who brought to this sun-drenched land of ours the bliss of a real thirst quencher. He realized for the first time that there were a few spots on earth where a really good drink was more welcome.
  • Efficiently working brewery at Kasauli. Consequently, with ardourous zeal he scaled the whole width of this subcontinent and established breweries and distilleries at Shimla, Solan, Lucknow and Mandalay (Burma).
  • During World War II, Solan Beer played its valuable part by keeping the soldiers of the allied nations in perfect pep and cheer. After the War, all manufacturing plants at Solan, Kasauli and Lucknow were replaced by the new latest automatic ones.
  • In 1935 the name of the Company with Indian assets and liabilities was changed to Dyer Meakin Breweries Ltd., from Dyer Meakin & Co. Ltd., and the assets and liabilities of Burma Brewery were separated.
  • Thereafter the Company’s name was changed from Dyer Meakin Breweries Ltd. to Mohan Meakin Breweries Ltd., w.e.f. 1.11.1966 and from 24.4.1980 the name was further changed to Mohan Meakin Ltd., and as such the Company is now known as Mohan Meakin Limited.
  • The year 1949 saw a dynamic transformation in the fortunes of the Company, with late Padamshree N.N. Mohan at the helm of affairs. He set up a big industrial hub near Ghaziabad (U.P.) known as Mohan Nagar by establishing various manufacturing units namely Brewery, Distillery, Malt Houses, Glass, Ice, Break-fast Food, Fruit Products and Juices, Malt Extract factories, Cold Storage and Mohan Engineering Works etc. and there has been no looking back since then.
  • The Company’s remarkable performance is not limited to liquor; its business interests are manifold. Turning foresight into reality is the Fruit juices, Breakfast Foods, Mineral Water and Glass Factory – a strategic diversification to further reinforce its business interests.
  • The group rechristened as Mohan Meakin Limited undertook major diversification with 3 distilleries in India and 2 breweries and a host of franchises. A multi-faceted business house with a turnover exceeding INR 400 crores, Mohan Meakin stands for growth, innovation and care.

Products Offered

  • Alcoholic Products
    • Whiskies
    • Beers
    • Rums
  • Non-Alcoholic Products
    • Juices
    • Mineral Water
    • Vinegar
    • Breakfast Foods
  • Manufactures
    • Glass Bottles
    • Mall Extract
    • Beer
    • Rum
    • Whisky
    • Brandy & Gin

Industry Opportunities

  • The Global Beer Market was valued at US $593,024 million in 2017 and is projected to reach US $685,354 million by 2025, growing at a CAGR of 1.8% from 2019 to 2025. Beer is one of the oldest and the most consumed alcoholic beverages in the world.
  • The Indian alcohol market is 3rd largest and one of the fastest-growing in the world and It is expected to grow by 25% to the US $41 billion by 2022.
  • The global rum market since 2015 is poised to grow by 150.51 million litres during 2020-2024, progressing at a CAGR of 2% during the forecast period.
  • The India Brandy and Rum market is forecasted to grow with a CAGR of more than 9% from 2022 to 2023.
  • India is the 6th biggest global destination for Scotch whisky and seven of the top ten global whisky brands are Indian.
  • With 8.8% of growth (CAGR), the Indian alcohol market is just exploding. 3rd largest liquor market globally, the market size of liquor sales in India is over the US $35 billion.
  • The liquor industry in India has a CAGR of 5.8% in 2018-2022.

Rationale

  • MML has strong brand recognition and an established position with the brand, ‘Old Monk’ in the domestic Indian-Made Foreign Liquor (IMFL) market. The company has a long operational track record and an established pan-India presence in the domestic IMFL market. Nonetheless, Old Monk accounts for 90% of the total IMFL sales.
  • MML is an established company with a proven track record of over 150 years in the liquor manufacturing industry. The Mohan family took over the company’s operations in 1949 and has been one of the well-known players in the Indian liquor industry since then. As a result, it has achieved significant scale aided by steady growth in volumes.
  • MML maintained its strong capital structure as reflected by gearing of 0.1 times and total debt/OPBDITA of 0.2 times as of March 31, 2020. It also had strong liquidity as reflected by cash and bank balances worth Rs. 15.8 crore as of March 31, 2020.
  • MML’s liquidity position is strong backed by positive funds flow from operations (FFO), minimal long-term debt repayment obligations, and healthy unencumbered cash and liquid balances. Its liquidity profile is further supported by the availability of sufficient bank limits for its working capital requirements
  • India’s liquor industry is expected to record the second-fastest growth globally. The company’s growth prospects are supported by favourable demographics and increasing urbanisation. In addition, the company has an established and growing pan-India distribution network, ensuring a wide reach that has helped it maintain its brand presence and boost revenue growth.
  • The Company is virtually debt-free.
  • LIC is holding 8.3% shares in the company.

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