Reported Earnings • May 27
Full year 2026 earnings released: EPS: ₹16.85 (vs ₹14.31 in FY 2025) Full year 2026 results: EPS: ₹16.85 (up from ₹14.31 in FY 2025). Revenue: ₹23.1b (up 19% from FY 2025). Net income: ₹271.4m (up 18% from FY 2025). Profit margin: 1.2% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • May 26
Northern Spirits Limited Recommends A Final Dividend for the Financial Year Ended 31 March, 2026 Northern Spirits Limited has recommended a final dividend of 3.5% for the financial year ended 31 march, 2026 i.e. INR 0.35 (Thirty-Five Paisa Only) per equity share of face value of INR 10/- each on the paid up share capital, subject to approval of shareholder at the ensuing Annual general Meeting (AGM) of the Company. The final dividend would be paid within 30 days from the date of declaration at the AGM. Announcement • May 14
Northern Spirits Limited to Report Q4, 2026 Results on May 26, 2026 Northern Spirits Limited announced that they will report Q4, 2026 results on May 26, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹112, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 20x in the Retail Distributors industry in India. Total loss to shareholders of 52% over the past three years. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₹1.72b market cap, or US$18.4m). Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: ₹4.47 (vs ₹5.74 in 3Q 2025) Third quarter 2026 results: EPS: ₹4.47 (down from ₹5.74 in 3Q 2025). Revenue: ₹5.96b (up 13% from 3Q 2025). Net income: ₹71.8m (down 22% from 3Q 2025). Profit margin: 1.2% (down from 1.7% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Feb 02
Northern Spirits Limited to Report Q3, 2026 Results on Feb 09, 2026 Northern Spirits Limited announced that they will report Q3, 2026 results on Feb 09, 2026 Reported Earnings • Nov 07
Second quarter 2026 earnings released: EPS: ₹4.73 (vs ₹3.64 in 2Q 2025) Second quarter 2026 results: EPS: ₹4.73 (up from ₹3.64 in 2Q 2025). Revenue: ₹5.63b (up 19% from 2Q 2025). Net income: ₹75.9m (up 30% from 2Q 2025). Profit margin: 1.3% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Oct 28
Northern Spirits Limited to Report Q2, 2026 Results on Nov 06, 2025 Northern Spirits Limited announced that they will report Q2, 2026 results on Nov 06, 2025 Announcement • Sep 19
Northern Spirits Limited Approves to Declare A Final Dividend on Equity Shares for the Financial Year 2024-2025 Northern Spirits Limited at the AGM held on September 19, 2025, approved to declare a final dividend on equity shares at the rate of INR 0.30 per equity share (3%) for the Financial Year 2024-2025. Declared Dividend • Aug 27
Dividend increased to ₹0.30 Dividend of ₹0.30 is 20% higher than last year. Ex-date: 12th September 2025 Payment date: 19th October 2025 Dividend yield will be 0.2%, which is lower than the industry average of 1.1%. Sustainability & Growth Dividend is covered by earnings (2% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 48% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 25
Northern Spirits Limited, Annual General Meeting, Sep 19, 2025 Northern Spirits Limited, Annual General Meeting, Sep 19, 2025, at 12:30 Indian Standard Time. Location: kenilworth hotel, 1&2,little russel, street, kolkata - 700071, west bengal, India Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹4.60 (vs ₹3.64 in 1Q 2025) First quarter 2026 results: EPS: ₹4.60 (up from ₹3.64 in 1Q 2025). Revenue: ₹5.34b (up 13% from 1Q 2025). Net income: ₹73.8m (up 27% from 1Q 2025). Profit margin: 1.4% (up from 1.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 29
Northern Spirits Limited to Report Q1, 2026 Results on Aug 07, 2025 Northern Spirits Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹14.33 (vs ₹10.33 in FY 2024) Full year 2025 results: EPS: ₹14.33 (up from ₹10.33 in FY 2024). Revenue: ₹19.4b (up 57% from FY 2024). Net income: ₹229.7m (up 39% from FY 2024). Profit margin: 1.2% (down from 1.3% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.3% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (₹3.61b market cap, or US$42.2m). Announcement • May 21
Northern Spirits Limited to Report Q4, 2025 Results on May 28, 2025 Northern Spirits Limited announced that they will report Q4, 2025 results on May 28, 2025 Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹183, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 26x in the Retail Distributors industry in India. Total returns to shareholders of 487% over the past three years. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹172, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 25x in the Retail Distributors industry in India. Total returns to shareholders of 406% over the past three years. Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: ₹5.74 (vs ₹3.05 in 3Q 2024) Third quarter 2025 results: EPS: ₹5.74 (up from ₹3.05 in 3Q 2024). Revenue: ₹5.28b (up 68% from 3Q 2024). Net income: ₹92.1m (up 88% from 3Q 2024). Profit margin: 1.7% (up from 1.6% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 89% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 03
Northern Spirits Limited to Report Q3, 2025 Results on Feb 11, 2025 Northern Spirits Limited announced that they will report Q3, 2025 results on Feb 11, 2025 Announcement • Jan 29
Northern Spirits Limited Appoints Dinesh Shaw as Non-Executive Independent Director Northern Spirits Limited at its EGM held on January 28, 2025 appointed Dinesh Shaw as Non-Executive independent Director of the Company. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹163, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 33x in the Retail Distributors industry in India. Total returns to shareholders of 445% over the past three years. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹231, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 34x in the Retail Distributors industry in India. Total returns to shareholders of 743% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹231, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 38x in the Retail Distributors industry in India. Total returns to shareholders of 621% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₹194, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 37x in the Retail Distributors industry in India. Total returns to shareholders of 534% over the past three years. New Risk • Nov 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.3% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (₹3.25b market cap, or US$38.5m). Board Change • Nov 06
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Arihant Jain was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 06
Northern Spirits Limited to Report Q2, 2025 Results on Nov 14, 2024 Northern Spirits Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Announcement • Sep 28
Northern Spirits Limited Approves to Declare Final Dividend for Year 2023-24 Northern Spirits Limited at Annual General Meeting on September 28, 2024 approved to declare a Final Dividend on Equity Shares at the rate of INR 0.25 per equity share (2.5%) for
the Financial Year 2023-24. Announcement • Sep 03
Northern Spirits Limited, Annual General Meeting, Sep 28, 2024 Northern Spirits Limited, Annual General Meeting, Sep 28, 2024, at 11:30 Indian Standard Time. Location: 5a, woodburn park road, woodburn central, unit-603, 6th floor, kolkata-700020, west bengal (india)., kolkata India Announcement • Aug 06
Northern Spirits Limited Announces the Resignation of Mr. Jagjit Singh Kochar as an Independent Director Northern Spirits Limited announced the resignation of Mr. Jagjit Singh Kochar (DIN:06552295) as an independent Director of the Company, with effect from close of business hours on August 06, 2024. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹237, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 51x in the Retail Distributors industry in India. Total returns to shareholders of 750% over the past three years. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹10.32 (vs ₹6.94 in FY 2023) Full year 2024 results: EPS: ₹10.32 (up from ₹6.94 in FY 2023). Revenue: ₹12.4b (up 36% from FY 2023). Net income: ₹165.7m (up 49% from FY 2023). Profit margin: 1.3% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 104% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 30
Northern Spirits Limited Recommends Final Dividend for the Financial Year Ended March 31, 2024 Northern Spirits Limited at its board meeting held on May 29, 2024 recommended a dividend of INR 0.25 per equity share of face value of INR 10/- each on the paid-up share capital, subject to approval of shareholders at the upcoming Annual General Meeting (AGM) of the Company. The final dividend would be paid within 30 days from the date of declaration at the AGM. The record date for payment of final dividend would be fixed and intimated in due course. New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₹3.40b market cap, or US$40.9m). Announcement • May 23
Northern Spirits Limited to Report Q4, 2024 Results on May 29, 2024 Northern Spirits Limited announced that they will report Q4, 2024 results on May 29, 2024 Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹209, the stock trades at a trailing P/E ratio of 32.4x. Average trailing P/E is 39x in the Retail Distributors industry in India. Total returns to shareholders of 791% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹174, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 38x in the Retail Distributors industry in India. Total returns to shareholders of 626% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹232, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 43x in the Retail Distributors industry in India. Total returns to shareholders of 871% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹272, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 43x in the Retail Distributors industry in India. Total returns to shareholders of 1,262% over the past three years. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ₹477, the stock trades at a trailing P/E ratio of 73.8x. Average trailing P/E is 45x in the Retail Distributors industry in India. Total returns to shareholders of 2,287% over the past three years. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹379, the stock trades at a trailing P/E ratio of 58.6x. Average trailing P/E is 41x in the Retail Distributors industry in India. Total returns to shareholders of 1,271% over the past three years. Announcement • Nov 02
Northern Spirits Limited to Report Q2, 2024 Results on Nov 09, 2023 Northern Spirits Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹335, the stock trades at a trailing P/E ratio of 48.3x. Average trailing P/E is 37x in the Retail Distributors industry in India. Total returns to shareholders of 1,243% over the past three years. Reported Earnings • Sep 02
Full year 2023 earnings released: EPS: ₹6.94 (vs ₹3.74 in FY 2022) Full year 2023 results: EPS: ₹6.94 (up from ₹3.74 in FY 2022). Revenue: ₹9.05b (up 238% from FY 2022). Net income: ₹111.3m (up 86% from FY 2022). Profit margin: 1.2% (down from 2.2% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has increased by 149% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 29
Northern Spirits Limited, Annual General Meeting, Sep 22, 2023 Northern Spirits Limited, Annual General Meeting, Sep 22, 2023, at 11:00 Indian Standard Time. Location: Registered Office of the Company at 5A, Woodburn Park Roa4 Woodburn Central, Unit No-603, 6th Floor, Kolkata - 700020. Kolkata West Bengal India Agenda: To receive, consider and adopt the Audited Statement of Profit and Loss for the year ended March 31, 2023 and the Balance Sheet as at that date together with the Reports of the Directors and the Auditors thereon; to consider and appoint Director in place of Mrs. Roshni Bakshi, who retires by rotation at this Annual General Meeting in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers herself for re-appointment; to consider and approve the appointment of Mr. Arihant Jain as an Independent Director of the Company and in this regard, pass the following resolution an Ordinary Resolution; to consider and re-appoint Mr. Ankush Bakshi as Managing Director of the Company for a term of 5 years; and to consider other business matters. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₹425, the stock trades at a trailing P/E ratio of 61.2x. Average trailing P/E is 37x in the Retail Distributors industry in India. Total returns to shareholders of 1,482% over the past three years. Announcement • Aug 11
Northern Spirits Limited Appoints Mr. Pankaj Khanna as the Company Secretary and Compliance Officer Board of Directors of Northern Spirits Limited, based on the recommendation of the Nomination and Remuneration Committee, at its Meeting held on August 10, 2023 have approved the appointment of Mr. Pankaj Khanna as the Company Secretary (CS) and Compliance Officer of the Company w.e.f. August 70,2023 pursuant to the provisions of Section 203 of the Companies Act, 2013 and Regulation 6(1) of SEBI - LODR Regulations,2015 respectively. The brief profile of Mr. Pankaj Khanna as required under Regulation 30 of SEBI - LODR Regulations, 2015 is as under: Mr. Pankaj Khanna, aged about 35 years, is a qualified Company Secretary from the lnstitute of Company Secretaries of lndia (lCSl) and Bachelor in Commerce (Hons) from the University of Calcutta. Mr. Panka.l Khanna has an overall experience in company law, finance, secretarial and compliance related matters. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to ₹380, the stock trades at a trailing P/E ratio of 54.8x. Average trailing P/E is 44x in the Retail Distributors industry in India. Total returns to shareholders of 1,440% over the past three years. New Risk • Aug 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Share price has been highly volatile over the past 3 months (9.4% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (₹5.11b market cap, or US$62.1m). Announcement • Jun 28
Northern Spirits Limited Appoints Arihant Jain as an Additional Director (Non-Executive Independent) The board of directors of Northern Spirits Limited at their meeting held on June 27, 2023, has inter alia, decided and approved the following important business: appointment of Mr. Arihant Jain as an Additional Director (non-executive independent) of the company, with an effective date is June 27, 2023 to hold office upto the date of the upcoming general meeting but not later than period of 3 months from the date of appointment. Mr. Arihant Jain, aged about 34 years have more than 5 years of rich and varied expertise in finance, accounts and law. he possesses vast experience in the field of finance, accounts and corporate law matters. His continuing guidance will be very valuable to the company and will undoubtedly prove to be an advantage to organization. Reported Earnings • Jun 03
Full year 2023 earnings released: EPS: ₹6.94 (vs ₹3.74 in FY 2022) Full year 2023 results: EPS: ₹6.94 (up from ₹3.74 in FY 2022). Revenue: ₹9.06b (up 238% from FY 2022). Net income: ₹111.3m (up 85% from FY 2022). Profit margin: 1.2% (down from 2.2% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has increased by 136% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 23
Northern Spirits Limited to Report Q4, 2023 Results on May 30, 2023 Northern Spirits Limited announced that they will report Q4, 2023 results on May 30, 2023 Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹259, the stock trades at a trailing P/E ratio of 41.6x. Average trailing P/E is 28x in the Retail Distributors industry in India. Total returns to shareholders of 1,086% over the past three years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹220, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 27x in the Retail Distributors industry in India. Total returns to shareholders of 781% over the past three years. Announcement • Feb 07
Northern Spirits Limited Announces Resignation of Rahul Gupta as Independent Director (Non-Executive) and Other Posts in the Committees The board of directors of Northern Spirits Limited meeting held on February 13, 2023, to consider, inform and receive comments on the letter of resignation received from Mr. Rahul Gupta, from his post of Independent Director (Non-Executive) and other posts in the Committees within the Company. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹178, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 34x in the Retail Distributors industry in India. Total returns to shareholders of 599% over the past three years. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₹212, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 39x in the Retail Distributors industry in India. Total returns to shareholders of 746% over the past three years. Reported Earnings • Nov 16
First half 2023 earnings released: EPS: ₹4.70 (vs ₹2.20 in 1H 2022) First half 2023 results: EPS: ₹4.70 (up from ₹2.20 in 1H 2022). Revenue: ₹5.16b (up 362% from 1H 2022). Net income: ₹75.8m (up 110% from 1H 2022). Profit margin: 1.5% (down from 3.2% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Non-Executive Independent Director Rahul Gupta was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 12
First half 2023 earnings released: EPS: ₹4.70 (vs ₹2.20 in 1H 2022) First half 2023 results: EPS: ₹4.70 (up from ₹2.20 in 1H 2022). Revenue: ₹5.16b (up 362% from 1H 2022). Net income: ₹75.8m (up 110% from 1H 2022). Profit margin: 1.5% (down from 3.2% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 05
Northern Spirits Limited to Report Q2, 2023 Results on Nov 10, 2022 Northern Spirits Limited announced that they will report Q2, 2023 results on Nov 10, 2022 Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 16% share price gain to ₹256, the stock trades at a trailing P/E ratio of 68.3x. Average trailing P/E is 46x in the Retail Distributors industry in India. Total returns to shareholders of 774% over the past three years. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improved over the past week After last week's 21% share price gain to ₹168, the stock trades at a trailing P/E ratio of 44.9x. Average trailing P/E is 43x in the Retail Distributors industry in India. Total returns to shareholders of 573% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 16% share price gain to ₹52.05, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 41x in the Retail Distributors industry in India. Total returns to shareholders of 74% over the past three years. Reported Earnings • Aug 21
Full year 2022 earnings released: EPS: ₹3.74 (vs ₹1.85 in FY 2021) Full year 2022 results: EPS: ₹3.74 (up from ₹1.85 in FY 2021). Revenue: ₹2.68b (up 75% from FY 2021). Net income: ₹60.1m (up 102% from FY 2021). Profit margin: 2.2% (up from 1.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Aug 20
Northern Spirits Limited, Annual General Meeting, Sep 15, 2022 Northern Spirits Limited, Annual General Meeting, Sep 15, 2022, at 15:00 Indian Standard Time. Location: 5A, Woodburn Park Road, Woodburn Central, Unit-603, 6th Floor Kolkata India Agenda: To consider the adoption of Financial Statement and Report of Board of Directors and Auditors thereon; and to consider the appointment of Ms. Kanika Bakshi (DIN 08090236) Director of the Company liable to retire by rotation. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹62.30, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 47x in the Retail Distributors industry in India. Total returns to shareholders of 117% over the past three years. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 19% share price gain to ₹43.00, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 55x in the Retail Distributors industry in India. Total returns to shareholders of 43% over the past three years. Board Change • Jun 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Non-Executive Independent Director Rahul Gupta was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jun 10
Full year 2022 earnings released: EPS: ₹3.74 (vs ₹1.85 in FY 2021) Full year 2022 results: EPS: ₹3.74 (up from ₹1.85 in FY 2021). Revenue: ₹2.68b (up 87% from FY 2021). Net income: ₹60.0m (up 102% from FY 2021). Profit margin: 2.2% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 15% share price gain to ₹35.95, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 42x in the Retail Distributors industry in India. Negligible returns to shareholders over past three years. Announcement • May 17
Northern Spirits Limited to Report Fiscal Year 2022 Results on May 25, 2022 Northern Spirits Limited announced that they will report fiscal year 2022 results on May 25, 2022 Board Change • Apr 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Non-Executive Independent Director Rahul Gupta was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 27
Northern Spirits Limited Approves Appointment of Abhijeet Prasad as Company Secretary and Compliance Officer Northern Spirits Limited announced that the Board of Directors of the Company at its meeting held on April 26, 2022, approved the appointment of Mr. Abhijeet Prasad, Company Secretary and Compliance officer with effect from April 26, 2022. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 16% share price gain to ₹31.25, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 34x in the Retail Distributors industry in India. Total returns to shareholders of 30% over the past year. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improved over the past week After last week's 16% share price gain to ₹31.20, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 49x in the Retail Distributors industry in India. Total returns to shareholders of 56% over the past year. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹26.50, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 44x in the Retail Distributors industry in India. Total returns to shareholders of 12% over the past year. Reported Earnings • Nov 23
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: ₹2.20 (up from ₹0.084 in 1H 2021). Revenue: ₹1.12b (up 107% from 1H 2021). Net income: ₹36.1m (up ₹34.7m from 1H 2021). Profit margin: 3.2% (up from 0.3% in 1H 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹30.05, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 58x in the Retail Distributors industry in India. Total returns to shareholders of 34% over the past year. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improved over the past week After last week's 15% share price gain to ₹37.50, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 59x in the Retail Distributors industry in India. Total returns to shareholders of 40% over the past year. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 18% share price gain to ₹31.80, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 69x in the Retail Distributors industry in India. Total returns to shareholders of 5.0% over the past year. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 20% share price gain to ₹29.00, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 79x in the Retail Distributors industry in India. Total returns to shareholders of 26% over the past year. Is New 90 Day High Low • Dec 10
New 90-day high: ₹27.65 The company is up 11% from its price of ₹24.95 on 11 September 2020. The Indian market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Retail Distributors industry, which is up 10.0% over the same period. Reported Earnings • Nov 26
First half 2021 earnings released: EPS ₹0.084 The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: ₹540.3m (down 49% from 1H 2020). Net income: ₹1.35m (down 99% from 1H 2020). Profit margin: 0.3% (down from 11% in 1H 2020). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Nov 12
New 90-day low: ₹18.55 The company is down 36% from its price of ₹28.85 on 14 August 2020. The Indian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Retail Distributors industry, which is up 6.0% over the same period. Announcement • Nov 10
Northern Spirits Limited to Report First Half, 2021 Results on Nov 13, 2020 Northern Spirits Limited announced that they will report first half, 2021 results on Nov 13, 2020 Valuation Update With 7 Day Price Move • Nov 06
Market pulls back on stock over the past week After last week's 16% share price decline to ₹20.00, the stock is trading at a trailing P/E ratio of 8.9x, down from the previous P/E ratio of 10.6x. This compares to an average P/E of 28x in the Retail Distributors industry in India. Total return to shareholders over the past year is a loss of 32%. Valuation Update With 7 Day Price Move • Oct 30
Market bids up stock over the past week After last week's 19% share price gain to ₹23.80, the stock is trading at a trailing P/E ratio of 10.6x, up from the previous P/E ratio of 8.9x. This compares to an average P/E of 27x in the Retail Distributors industry in India. Total return to shareholders over the past year is a loss of 21%. Valuation Update With 7 Day Price Move • Oct 20
Market bids up stock over the past week After last week's 19% share price gain to ₹22.95, the stock is trading at a trailing P/E ratio of 10.2x, up from the previous P/E ratio of 8.6x. This compares to an average P/E of 31x in the Retail Distributors industry in India. Total return to shareholders over the past year is a loss of 8.4%. Reported Earnings • Oct 04
Full year earnings released - EPS ₹2.25 Over the last 12 months the company has reported total profits of ₹36.1m, down 64% from the prior year. Total revenue was ₹1.61b over the last 12 months, up 45% from the prior year. Profit margins were 2.2%, which is lower than the 9.1% margin from last year. The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Oct 01
New 90-day low: ₹21.15 The company is down 8.0% from its price of ₹23.00 on 03 July 2020. The Indian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Retail Distributors industry, which is up 12% over the same period. Announcement • Aug 30
Northern Spirits Limited to Report Fiscal Year 2020 Results on Aug 31, 2020 Northern Spirits Limited announced that they will report fiscal year 2020 results on Aug 31, 2020 
