GM Breweries Faces Profit Pressure In Q1: Technicals Suggest Resistance Ahead, Says SEBI RA Lalit Mundhra

GM Breweries shares fell over 3% on Tuesday after the company reported its first quarter (Q1 FY26) earnings. 

SEBI-registered analyst Lalit Mundhra noted that while the headline numbers were stable year-on-year (YoY), it took a hit quarter-on-quarter (QoQ) due to a drop in other income. 

Q1 revenues rose 6.23% YoY to ₹638 crore, while they declined 3.78% QoQ. Profits rose by 4% to ₹25.86 crore (YoY), and fell 57.2% (QoQ) due to lower non-operating income. 

Other income was reported at ₹5.13 crore vs ₹3.63 crore (YoY), and ₹40.42 crore (QoQ).

 Mundhra highlighted that operating margins were relatively stable, while a one-off base effect impacted net margin. No dividend or guidance was declared. 

On the technical charts, the stock faced resistance at the 61.8% Fibonacci retracement level from its last swing move. He identified the next support at ₹709, and sees upside only above ₹770 for GM Breweries.

GM Breweries shares have declined 10% year-to-date (YTD). 

For updates and corrections, email newsroom[at]stocktwits[dot]com.