Unlisted Shares
Bira 91 (B9 Beverages Limited)
B9 Beverages Limited (Unlisted)
Verified Unlisted CompanyOff-market Transfer · NSDL / CDSL
About Bira 91 (B9 Beverages Limited)
B9 Beverages Limited, popularly known as Bira 91, is one of India’s leading craft beer companies founded in 2012. The company disrupted the Indian beer market with premium and flavored craft beers and expanded globally across multiple countries. Despite strong brand recall and revenue growth, the company has faced profitability challenges due to high costs and expansion investments.
Share Details
| company Name | B9 Beverages Limited (Unlisted) |
| indicative Unlisted Share Price | ₹232 |
| market Capitalization | ₹3900 Crore |
| lot Size | 100 |
| 52 Week High | ₹650 |
| 52 Week Low | ₹108 |
| face Value | ₹10 |
| book Value | Negative |
| pe Ratio | N/A (Loss Making) |
| pb Ratio | N/A |
| debt To Equity | 1.9 |
| return On Equity | Negative |
| total Outstanding Shares | Approx 6 Crore |
| isin | INE833U01014 |
| depository | NSDL & CDSL |
| pan | AAECD6739Q |
| cin | U80903DL2012PLC236595 |
| rta | Skyline Financial Services Pvt Ltd |
Income Statement (Profit & Loss) (₹ in Crore)
| Particulars | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 717.7 | 824.32 | 638 | - |
| Cost of Material Consumed | 164.4 | 265.38 | 201 | - |
| Change in Inventory | 68.64 | -26.27 | 33 | - |
| Employee Benefit Expenses | 90.71 | 114.98 | 182 | - |
| Other Expenses | 567.45 | 710.29 | 696 | - |
| EBITDA | -173.23 | -240.08 | -474 | - |
| Operating Profit Margin (%) | -24.13 | -29.12 | -74.29 | - |
| Other Income | 15.98 | 21.39 | 30 | - |
| Finance Cost | 87.72 | 96.59 | 160 | - |
| Depreciation | 90.09 | 121.41 | 144 | - |
| EBIT | -263.32 | -361.47 | -618 | - |
| PBT | -335.07 | -433.89 | -749 | - |
| Tax | 0 | 11.78 | 0 | - |
| PAT | -335.07 | -445.47 | -749 | - |
| Net Profit Margin (%) | -46.68 | -54.04 | -117.4 | - |
| EPS (₹) | -69.51 | -79.56 | -125.04 | - |
Key Financial Ratios (Last 3–5 Years)
| Ratio | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Operating Profit Margin (%) | -24.13 | -29.12 | -74.29 | - |
| Net Profit Margin (%) | -46.68 | -54.04 | -117.4 | - |
| EPS (₹) | -69.51 | -79.56 | -125.04 | - |
Financial Annual Report Summary
Bira has achieved strong revenue growth but continues to incur losses due to high marketing, expansion, and operational costs. EBITDA and net margins remain negative, highlighting ongoing profitability challenges.
Why Invest in Bira 91 (B9
- Strong revenue growth but widening losses.
- High marketing and expansion costs hurting profitability.
- Negative EBITDA and PAT across all years.
- Business scalability proven but financial sustainability remains a concern.
Balance Sheet - Assets (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Fixed Assets | 84.45 | 43.45 | 507 | - |
| CWIP | 7.16 | 15.16 | 29 | - |
| Investments | 54.7 | 11 | 1 | - |
| Trade Receivables | 126.68 | 180.68 | 108 | - |
| Inventory | 74.05 | 164.2 | 108 | - |
| Other Assets | 645.76 | 492.54 | 397 | - |
| Total Assets | 992.83 | 1,247.13 | 1,150 | - |
Balance Sheet - Liabilities & Equity (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Share Capital | 48.206 | 55.99 | 59.9 | - |
| Reserves | -72 | -106 | -422 | - |
| Borrowings | 346.71 | 314.6 | 594 | - |
| Trade Payables | 187.26 | 290.05 | 438 | - |
| Other Liabilities | 482.45 | 507.83 | 556.1 | - |
| Total Liabilities | 992.83 | 1,247.27 | 1,228 | - |
Liabilities Breakdown & Balance Sheet Insights
Balance Sheet Insights
Negative reserves indicate erosion of net worth. Rising debt and liabilities highlight financial stress.
Cash Flow Insights
- Consistently negative operating cash flow.
- Heavy dependence on financing.
- Cash burn increasing significantly.
Shareholding Pattern
Recent
Promoter: 64.33%
Institutional: -
Public: 35.67%
Promoters & Management
Founded by Ankur Jain, backed by investors like Sequoia Capital and Sofina.
Key Management
Ankur Jain - Founder & CEO
Startup & FMCG
Registrar & Transfer Agent (RTA)
Registrar: Skyline Financial Services Pvt Ltd
Management Analysis
Focused on brand expansion and global growth, but financial discipline and profitability remain key challenges.
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