GM Breweries Limited successfully conducted its Extraordinary General Meeting on February 05, 2026, addressing critical governance matters through video conferencing. The meeting, which commenced at 11:30 AM, was chaired by Mr. Jimmy Almeida, Chairman & Managing Director, and concluded at 11:37 AM with strong shareholder participation.

Meeting Participation and Logistics

The EGM witnessed significant shareholder engagement despite being conducted virtually. The participation details highlight the company's broad shareholder base and effective communication channels.

E-Voting Arrangements

The company implemented comprehensive voting mechanisms to ensure maximum shareholder participation. Remote e-voting facilities were made available to all members in compliance with the Companies Act, 2013, and listing regulations. The remote e-voting period commenced at 9:00 AM on Monday, February 02, 2026, and concluded at 5:00 PM on Wednesday, February 04, 2026. Additionally, e-voting facilities were provided during the meeting itself, with an extended 15-minute voting window after the meeting's conclusion to facilitate shareholders in casting their votes.

Key Agenda Items

The EGM addressed three significant resolutions related to the company's board composition and governance structure:

• Item No. 1: Appointment of Mr. Hardik Shah (DIN: 05268078) as an Independent Director of the Company
• Item No. 2: Reappointment of Mrs. Urmi Shah (DIN: 08934537) as an Independent Women Director of the Company
• Item No. 3: Reappointment of Ms. Shivani Soni (DIN: 08936153) as an Independent Women Director of the Company

Business Updates and Future Outlook

During the proceedings, Chairman Mr. Jimmy Almeida provided members with insights into the company's current operations and prospects for the fiscal year 2025-2026. The meeting followed proper corporate governance protocols, with the requisite quorum present and fellow directors introducing themselves to the shareholders.

Compliance and Transparency

The company maintained full transparency throughout the process, with the Chairman announcing that voting results along with the scrutinizer's report would be communicated to stock exchanges and published on the company's website. This EGM was conducted in accordance with Regulation 30(6), Part-A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, demonstrating the company's commitment to regulatory compliance and shareholder communication.

GM Breweries announced its unaudited financial results for the quarter ended December 31, 2025, showcasing exceptional performance across key financial metrics. The alcoholic beverages company delivered robust growth in revenue and significant improvement in operational efficiency, demonstrating strong execution in India's country liquor market.

Outstanding Financial Performance in Q3FY26

The company's third quarter results highlight substantial growth across all major financial parameters, with revenue figures excluding excise duty, VAT, and TCS showing remarkable improvement.

Exceptional Profit Growth and Margin Expansion

GM Breweries achieved total revenue from operations of ₹808.62 crores in Q3FY26, marking a strong 25.52% increase from ₹644.19 crores in the corresponding quarter of the previous year. After adjusting for excise duty, VAT, and TCS, the net revenue stood at ₹202.14 crores, representing a growth of 21.89% from ₹165.84 crores in Q3FY25.

The company's net profit performance remained the standout highlight, reaching ₹42.01 crores, representing a remarkable increase of 91.17% from ₹21.97 crores in the same period last year. This substantial improvement demonstrates the company's effective revenue optimization and cost management strategies.

Strong Nine-Month Performance

The company's nine-month performance for the period ended December 31, 2025, also showed impressive growth trajectory across all key metrics.

Share Price Performance and Market Reaction

Following the strong quarterly results announcement, GM Breweries shares witnessed significant volatility. The stock surged as much as 6.49% to reach ₹1,328.80 per share, hitting a fresh life high during trading. However, the stock later pared gains and traded 6.15% lower at ₹1,171 per share, reflecting typical profit-booking activity after strong results.

The stock has delivered impressive returns of 56.21% over the last 12 months, significantly outperforming broader market indices. The total traded volume stood at 6.39 times its 30-day average, indicating heightened investor interest following the results announcement. The relative strength index of 76.12 suggests the stock is in overbought territory.

Board Meeting Outcomes and Corporate Developments

The Board of Directors meeting held on January 06, 2026, approved the unaudited standalone financial results for the quarter and nine months ended December 31, 2025, in compliance with Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Significantly, the Board also approved a change in the company's Registrar and Transfer Agent, appointing M/s. Purva Sharegistry (I) Pvt. Ltd. to replace the existing registrar M/s. MUFG Intime India Private Limited. The company is currently in the process of executing a definitive agreement with the new registrar.

Operational Efficiency and Cost Management

The most notable improvement came in EBITDA margin performance, which expanded dramatically to 26.10% from 17.70% year-on-year, representing an increase of over 840 basis points. The company's EBITDA in absolute terms showed strong growth, rising 91.17% to ₹56.13 crores from ₹29.35 crores in Q3FY25.

Cost of materials consumed increased to ₹135.88 crores from ₹126.23 crores, while employee benefit expenses remained controlled at ₹3.51 crores compared to ₹3.47 crores in the previous year. The company maintained its focus on operational discipline with depreciation expenses decreasing to ₹1.20 crores from ₹1.50 crores year-on-year.

Earnings per share showed exceptional improvement, reaching ₹18.39 for Q3FY26 compared to ₹9.61 in Q3FY25, representing a growth of over 91%. For the nine-month period, EPS stood at ₹44.98 compared to ₹30.01 in the corresponding period of the previous year, marking a growth of nearly 50%.

As one of the largest players in India's country liquor market, GM Breweries' strong quarterly results demonstrate the company's competitive positioning and market execution capabilities. The impressive financial performance across multiple metrics positions the company favorably within the alcoholic beverages sector, showcasing its ability to deliver consistent growth while maintaining operational discipline and expanding market presence through improved efficiency measures.