Som Distilleries & Breweries Limited secured a favorable judgment from the Hon'ble High Court of Madhya Pradesh, which quashed the order rejecting the company's applications for excise licence renewal. The court directed the renewal of all manufacturing licences under the Madhya Pradesh Excise Act within 15 days from the order date, facilitating the resumption of operations at its Bhopal plant.

The judgment, dated September 24, 2026, overturned the earlier order dated June 18, 2026, which had rejected the renewal applications. This legal victory allows the company to restart sales generation in Madhya Pradesh, a core market for its products. The company received the judgment on September 25, 2026.

Judgment details and financial implications

The Hon'ble Court not only mandated the licence renewal but also awarded costs of ₹1 lakh payable by the Government of Madhya Pradesh to the company. Furthermore, the court preserved the company's right to pursue damages or losses arising from the period of operational closure before an appropriate forum. The company stated that this outcome vindicates its stand regarding corporate governance and lawful conduct during the dispute.

Operational impact and next steps

The renewal of these licences is described as an important step towards restoring normal operations at the Bhopal facility and strengthening the company's ability to serve its markets. The company indicated that the order is expected to have a positive impact on its financial position by enabling the resumption of sales from Madhya Pradesh.

Management outlined a focus on several key areas following the judgment:

• Restoration and normalization of operations
• Efficient utilization of manufacturing capacities
• Strengthening product portfolio and distribution networks
• Improving working capital efficiency
• Serving consumers and business partners across markets

The company will work closely with relevant authorities to complete the renewal process within the timeframe directed by the court. No specific financial figures regarding the extent of losses during the closure period were disclosed in the filing, though the preservation of rights for damages suggests potential future recoveries.

Som Distilleries & Breweries has submitted a revised notice for its 33rd Annual General Meeting (AGM) to the National Stock Exchange of India Limited (NSE) and BSE Limited. The filing, dated September 25, 2026, incorporates changes from the corrigendum issued on September 21, 2026, addressing regulatory queries regarding the proposed preferential issue of convertible warrants.

The revised notice supersedes the version previously submitted to the stock exchanges on September 6, 2026. The company stated that the changes in Item No. 4 of the AGM Notice are non-material in nature and do not impact the standalone or consolidated financial statements, nor the financial position or performance of the company.

Regulatory Clarifications

The updates respond to specific observations from stock exchanges under Regulation 30 of the SEBI Listing Regulations and the SEBI ICDR Regulations, 2018. Key revisions include:

• Valuation Report Status: The company clarified that while the valuation report was not mandatory for an allotment below 5%, it was obtained as a corporate governance practice. The report date was corrected from September 3, 2026, to September 2, 2026, issued by Independent Registered Valuer Sanka Hari Surya.
• Shareholding Pattern: The post-issue shareholding pattern has been revised to reflect outstanding Employee Stock Options Plans (ESOPs) on a fully diluted basis, correcting previous calculations that omitted these instruments.
• Undertaking Correction: The explanatory statement for Item No. 4 was updated to include the required undertaking under Regulation 163(g) regarding price recomputation, replacing a duplicate reference to Regulation 163(h).
• Document Links: Exact landing page links for the Price Compliance Statement (PCS) certificate have been provided in the notice.

Utilization of Proceeds

The preferential issue aims to raise total proceeds of ₹25,00,00,028.55. The company disclosed the bifurcation of these funds towards specific objects:

The proceeds are planned for deployment in FY27 and FY28. The working capital component is intended to support the company's growing geographical footprint, particularly during peak seasons.

Shareholding Structure

The post-issue shareholding pattern indicates a slight increase in promoter holding. Promoters' individual holdings will rise from 28.38% to 29.41%, while bodies corporate remain unchanged at 10.86% post-issue. Non-promoter institutional investors hold a negligible stake, with Foreign Portfolio Investors at 0.17% and Alternative Investment Funds at 0%. Resident individuals holding nominal share capital up to ₹2 lakhs constitute the largest non-promoter block at 31.16%.

AGM Logistics and Voting

The 33rd AGM is scheduled for Tuesday, September 29, 2026, at 1:00 pm through Video Conferencing or Other Audio-Visual Means. The remote e-voting period begins on Saturday, September 26, 2026, at 9:00 am and ends on Monday, September 28, 2026, at 5:00 pm. Members whose names appear in the Register of Members as on the record date, September 22, 2026, are eligible to vote.