Murree Brewery finds much to cheer about in FY13

Published: April 25, 2013
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Some of Murree Brewery's alcohol products. PHOTO: murreebrewery.com

Some of Murree Brewery's alcohol products. PHOTO: murreebrewery.com

KARACHI: 

Murree Brewery, Pakistan’s most prominent manufacturer of alcoholic products, has announced its earnings results for the quarter ended March 31, 2013 (3QFY13) and the nine months of the ongoing fiscal year (9MFY13).

The company recorded a profit of Rs175.94 million for the quarter, up an impressive 18% year-on-year (YoY). Its 9MFY13 profit, meanwhile, has registered a staggering 63% increase over the same period of the preceding year. The company has decided not to pay out any dividends with the result.

The company’s stock hit its upper circuit breaker in trading on Wednesday, after the results were made public.

Murree Brewery has the distinction of being one of the oldest public companies of the subcontinent. Its shares were traded on the Calcutta Stock Exchange as early as 1902, and it is now the oldest continuing industrial enterprise in Pakistan. It ranks among the top 25 performing public listed companies at the Karachi Stock Exchange, according to some accounts.

The company does not advertise its products, and is legally prohibited from exporting them. Nonetheless, it is valuable contributor to the economy, having paid nearly Rs314 million in taxes on profits alone so far this fiscal year, apart from the duties and taxes levied on the sale of its products. That figure is 74% higher than the same period of last year.

And while Pakistan forbids the consumption of alcohol by the Muslim-majority population, the company has recorded an impressive 20% increase in its topline so far this year, as compared to the same period of last year, while seeing gross profits grow 37% in 9MFY13 over the previous year. Higher ‘administrative and marketing’ expenses (up 14%) may point to increased marketing activity, ceteris paribus, which would explain the higher profits.

The company’s stock has been doing quite well. It offers investors a one-year return of 297.83%, with stock prices surging from Rs75.68 on April 24, 2012, to close at Rs293.19 on April 24, 2013.

Published in The Express Tribune, April 25th, 2013.

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Reader Comments (32)

  • Jimbo
    Apr 25, 2013 - 1:18PM

    Why is the brewery forbidden from exporting??

    There are thousands of Pakistani and Kashmiri restaurants here in the UK who would love to serve this beer, but who instead make do with the Indian Cobra brand. As a non-Muslim, why shouldn’t I send my money to Murree for a nice beer?

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  • RKM
    Apr 25, 2013 - 1:36PM

    Oh Murree, you little beauty.

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  • doom
    Apr 25, 2013 - 1:41PM

    Why is export prohibited? If they can sell to Non-Muslims here, why not elsewhere?

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  • Clasuto DeMark
    Apr 25, 2013 - 2:22PM

    The higher admin & marketing expenses might just be a reflection of inflation assuming you’re using nominal figures.

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  • Karachiite
    Apr 25, 2013 - 2:28PM

    Yay?

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  • Mohammad
    Apr 25, 2013 - 2:38PM

    the 20% increase shows that people are drinking.. and sleeping, unaware of their responsibility of getting Pakistan out of mess created by elite ruling class.

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  • ashar
    Apr 25, 2013 - 2:45PM

    Good news for NFP and core material for his next blog.

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  • Non Sharabbiii
    Apr 25, 2013 - 2:47PM

    In our Muslim country its consumed mostly by MUSLIM. I live in a posh area of Karachi and there are plenty of Wine Shops in my area selling alcohol to Muslims openly. One time I saw a police patrolling car stopping by the shop and getting bunch of bottles in a paper bag and on the weekends I get to see massive crowd outside that shop and its close by Bilawal House like really close, some people would really know WHAT I MEAN!

    I don’t care who consumes it as long as they act sober…

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  • Stranger
    Apr 25, 2013 - 5:04PM

    Whats wrong with consuming alcohol I say. AS long as people dont make a nuisance of themselves in public its fine within certain limits. so many thousands of families eat stomach fulls because of this industry. In fact many kinds of alcohol like red wine have many benefits. The only thing is that it should not be over done by the consumers.

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  • Ayesha Bhaalay
    Apr 25, 2013 - 5:07PM

    anyone knows where I can buy this in Rawalpindi area? I want to taste this fine product of our country.

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  • ashar
    Apr 25, 2013 - 5:11PM

    @Non Sharabbiii:

    You don’t have to be sarcastic.

    A Muslim is out of the fold of Islam at the time of drinking liquor according to a Hadith. So Muslims do not drink is correct.

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  • Freakonomist
    Apr 25, 2013 - 5:47PM

    I guess, I contributed a lot to the exchequer through Muree Brewery :) beer tastes perfect but am not a fan of its spirits! Quality needs to be improved.

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  • Gangnam Style
    Apr 25, 2013 - 6:32PM

    @Ayesha Bhaalay: You can get from all the big hotels in Rawalpindi and Islamabad, i.e. The Marriott, Serena, Pearl Continental etc. etc… Cheers! :D

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  • Abdullah
    Apr 25, 2013 - 6:38PM

    Legalize it already and tax the crap out of it so government makes money.

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  • shahid
    Apr 25, 2013 - 6:46PM

    @ashar: So majority of arabs are non Muslims ?

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  • Mr. Sindhi
    Apr 25, 2013 - 7:58PM

    @Mohammad:
    Who told you that people except ELITES use branded alcoholic drinks in Pakistan ?

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  • Vishnu Dutta
    Apr 25, 2013 - 8:44PM

    While the number of non muslims are decreasing in pakistan, the sale of alcohol is increasing. Either remaining non muslims have started drinking like a fish or ahem ahem..

    Anyways, election year hai, sale tou hogi hi.

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  • Usman786
    Apr 25, 2013 - 10:49PM

    @Abdullah: when wine was forbidden, it was not sold to non muslims, it was spilled

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  • RHS
    Apr 25, 2013 - 11:08PM

    A fine product that should make the whole country proud.

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  • Ayesha Suleman Dadabhoy
    Apr 25, 2013 - 11:41PM

    Similar questions: Why is the Muree brewery forbidden from exporting??
    There are thousands of Pakistani and Indian restaurants here in the US Why is the brewery forbidden from exporting??
    I would love to serve this beer, but who instead make do with the Indian brands. I as a single Pakistani woman who owns three resturants called Show me your Curry am constantly being asked by my customers specially my Indian customers we would love to try Muree beer. I could increase my profit margin if other Pakistani restaurants all over the world do the same we can double the profit postings at Muree beer, so if you out there are reading talk to your political reps this could also increase in the job & economic for Muree.

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  • Citizen Khan
    Apr 26, 2013 - 12:39AM

    I do not want gingers to taste our classic beer. That’s why its export has been prohibited.

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  • ravi
    Apr 26, 2013 - 12:51AM

    I have heard a lot about Murree beer, I wish they exported to India. I would love to travel all the way to Muree itself just to enjoy a swig of it.

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  • Aftab Kenneth Wilson
    Apr 26, 2013 - 1:07AM

    Population of non-Muslims is around 10%. The increase shown above shows love of our brothers sitting on the other side proud of being costumers of this Holy Water if and when consumed always brings out truth. My advise …..Cheeeers and be happy, no tension please.

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  • Haris Chaudhry
    Apr 26, 2013 - 5:52AM

    Didn’t realise my 3 month stint in Pakistan early this year contributed so much to the bottom line of MB !! :)

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  • Firaaq
    Apr 26, 2013 - 5:50PM

    @ashar:
    That’s interesting. I get to step out and step right back in when the buzz wears off.

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  • Danish Xuberi
    Apr 26, 2013 - 10:04PM

    from any excise wine shop in the city. do try Muree Brewery’s London Dry Gin with lemon salt and a crushed mint leaf with ice in the sweltering heat and their Vodka in winter – cheers @Ayesha Bhaalay:

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  • ashar
    Apr 26, 2013 - 10:15PM

    Thats great ET you dropped my comments in reply to Firaaq so that the Islamic point of view is left unclear in this particular matter. is that your policy?

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  • Sohail Jabbr
    Apr 26, 2013 - 10:37PM

    @ashar why does everything have to evolve around the Islamic point of view? IF ET chooses not to publish certain comments its their right.

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  • ashar
    Apr 26, 2013 - 10:45PM

    @Sohail Jabbr:
    you are right its not necessary. but after Firaaq commented sarcastically on the provision given to a Muslim to repent after drinking should be mentioned. Otherwise I know what ET wants and where its policy stands for. But you should know that not only all the liberal are educated in Pakistan. This country was founded on the basis of Religion and will see the supremacy of the only True Religion one day that is not very far away from now.

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  • Firaaq
    Apr 27, 2013 - 1:27PM

    @ashar:

    The problem with us (Muslims – and I am one) is that we have lost the ability to make fun of ourselves.
    The great monotheistic faiths of the world ascribe a great many qualities to the most high. The one quality missing from this list is a sense of humour.
    Try and laugh at yourself for a change. It will make you feel better.
    I do it all the time and it really works.

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  • Apr 28, 2013 - 11:02AM

    @ashar: “A Muslim is out of the fold of Islam at the time of drinking liquor according to a Hadith. So Muslims do not drink is correct.”

    The moment some one who drinks automatically ceases to be Muslims. Will he continue to be so or can be taken back in the Muslim faith ? May be after he/ she sincerely repents for it . What about one who drank more than one occasion, or how to know if he did repent or not, and what about those who sell alcohol to Muslims knowing well their identity.?.
    Incidentally what about those Muslims who consume narcotic drugs like heroin, hashish, marijuana , cocaine etc which are more harmful for the mental as well as physical health of the people. Is consuming& selling drugs too is prohibited ? Any enlightenment on these points for better understanding will be appreciated .

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  • Apr 28, 2013 - 12:35PM

    Is consumption of narcotic drugs like heroin, hashish, cocaine, marijuana etc( which are extremely harmful for the mental ans well as physical health of the people )also prohibited in Islam ?. Is selling of alcohol and drugs to Muslims too a sin in Islam.? can anyone enlighten me on it .?

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