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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Credit Rating (CRISIL)
CARE BB
Rates the company's debt-servicing ability — not the quality or value of its shares.
Rated: 2 Apr 2026
View Full Report52-Week Range
Valuation
Financials (FY2024)
Source: CRISILInvestment Thesis
Blossom Industries Limited is an unusual combination of electrical equipment manufacturer and beer producer based in Daman & Diu, with the TAG beer brand produced in association with United Breweries being its most distinctive asset. At ₹134 per share, the company has moderate market recognition. India's beer sector growth provides a positive backdrop, but limited scale, regional focus, and competitive pressures make this a speculative investment. Investors should review MCA filings and understand the partnership structure before investing.
Pros
Cons
Business Segments
Beer Manufacturing (TAG Beer)
Production and sale of TAG beer brand in partnership with United Breweries Limited; brewing operations located in Daman
Electrical Equipment Manufacturing
Manufacturing of electrical equipment and components; specific product lines not publicly detailed
Revenue Model
Blossom Industries Limited generates revenue from two streams: beer sales (TAG beer brand, in association with United Breweries) and electrical equipment manufacturing. Beer revenue depends on production volumes, distribution reach, and competitive pricing within the Daman and broader regional market. Electrical equipment revenue comes from B2B sales to industrial and commercial customers.
Detailed Analysis
Growth Plans
Growing per-capita beer consumption in India driven by youth demographics and urbanisation
Potential expansion of TAG beer distribution beyond Daman to neighbouring Maharashtra and Gujarat
India's growing organised beer market could support contract brewing demand
Electrical equipment segment could benefit from India's ongoing industrial capex cycle
Industry Tailwinds
Recent Developments
India's beer market continued its steady growth trajectory driven by premiumisation, youth demographics, and expanding distribution. This provides a positive backdrop for TAG beer operations.
2024-01Comparable Companies
UBL · ~30,000 Cr
Frequently Asked Questions
About Blossom Industries
Blossom Industries Limited is a public limited company incorporated on 10 August 1989 in the Union Territory of Daman & Diu, registered at the Registrar of Companies, Goa. The company is engaged in the manufacture of electrical equipment, classified under NIC code 312 which covers electrical equipment manufacturing. Its manufacturing facility is located at Village Jani Vankad, Nani Daman 396210. The company has an authorised share capital of ₹15 crore and a paid-up capital of approximately ₹11.07 crore. The registered office is in the Nani Daman industrial area, which is part of the Daman & Diu Union Territory — a historically significant manufacturing zone due to its special economic status and proximity to Gujarat's industrial belt. Blossom Industries was incorporated during the late 1980s wave of manufacturing company formation in Daman, a period when the territory's tax incentives and industrial infrastructure attracted numerous small and medium manufacturing enterprises. The company has maintained active status with the Registrar of Companies despite limited public financial disclosure. A notable concern is the last balance sheet filing date of March 2016, suggesting the company has not submitted MCA annual filings for approximately eight years. This is a significant compliance gap that raises questions about the company's current operational status. Despite this, MCA records show the company as Active with eight directors including Amit Ashok Khemani, Dwarko Topandas Khilnani, Harsh Vardhan Jajoo, Lila Firoz Poonawalla, Padmanabh Ramchandra Barpande, Pamidi Kotaiah, Shivkumar Dhalumal Israni, and Vincent Valerian Vaz — an unusually large board for a manufacturing company of this size. Daman's manufacturing sector includes plastics, chemicals, packaging, and electrical equipment — with the territorial government providing various incentives to industry.
Key Milestones
Incorporated in 1989 in Daman & Diu as a public limited company (CIN: U31200DD1989PLC003122)
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Growing per-capita beer consumption in India driven by youth demographics and urbanisation
Potential expansion of TAG beer distribution beyond Daman to neighbouring Maharashtra and Gujarat
India's growing organised beer market could support contract brewing demand
Electrical equipment segment could benefit from India's ongoing industrial capex cycle
Industry Headwinds
Intensifying competition from global beer majors (AB InBev, Carlsberg, Heineken's own brands)
Any change in the United Breweries partnership terms
Daman & Diu policy changes affecting excise advantage
Scalability constraints given small geographic base
Key Strengths
Experienced promoter group and established presence in the industry
Long track record having established manufacturing facilities
Sales arrangements in form of contract manufacturing with UBL and other brands
Healthy profit margins
Comfortable capital structure and debt coverage indicators
Key Weaknesses
Moderate scale of operations
Large-size exposure in form of loans and advances to unrelated party
Downward Factors
Major adverse changes in contract terms with UBL or termination of agreement with UBL, impacting group’s financial risk
Significant decline in group’s total operating income (TOI) below ₹300 crore or profitability with profit before interest, lease
Deterioration in the debt coverage indicators with total debt/PBILDT exceeding 2.5x on a sustained basis
Significant elongation of working capital cycle/non-realisation or further extension of loans & advances to unrelated party
Last MCA balance sheet filed March 2016 — 8-year compliance gap is a major red flag
Source: Media Reports / Public Records
Current operational status not determinable from public records
Source: AlphaHub Research
Operating two distinct businesses (beer and electrical equipment) creates management bandwidth challenges and limits focused competitive positioning in either segment.
TAG beer faces significant competition from well-established national brands; limited brand equity outside its core regional markets in Daman and neighbouring areas.
Alcohol manufacturing is subject to Union Territory and state-level excise regulations. Changes in Daman & Diu excise policy or central government regulations could impact production and distribution.
The business model's beer segment is linked to a partnership with United Breweries; any change in partnership terms could materially affect beer operations.
Unlisted status limits secondary market liquidity; exit at desired price may be difficult.
TI · ~3,000 Cr
Unlisted
Established manufacturing operations in Nani Daman, benefiting from Daman's favourable industrial and excise regulations
Entered the beer segment through the TAG beer brand in partnership with United Breweries Limited
Maintained dual operations in electrical equipment manufacturing and beer production over three decades
Shares traded in the unlisted market at approximately ₹134 per share