(i) The history of Mohan Meakin back to the establishment of a Brewery at Kasauli by Edward Dyer in 1855. He was India’s brewing pioneer who brought  – the modern beer. He realized for the first time that there were a few spots on earth where a really good drink was more welcome and Kasuali was one of them.

(ii) During the same century, another enterprising man, named H.G. Meakin, coming from a well-known brewing family of Burton-on-Trent where he was trained, came forward with enviable enthusiasm and founded Meakin & Co. Ltd. He bought the old Simla and Kasauli Breweries and built others at Dalhousie, Ranikhet, Chakrarta, Darjeeling and Kirkee.

(iii) Both these firms E. Dyer & Co., and Meakin & Co. Ltd., continued doing business separately up till after the second decade of the 20th century. During the first World War (1914-18), when it was a big job to import beer, the two firms quenched the hugely increased thirst of India with superb beer at a rock-bottom price. Vast quantities of Malted Barley were sent to Egypt, to help keep soldiers’ beer at a reasonable price.

(iv) Following these successes, the two firms joined hands and started a new joint-stock venture under the style of Dyer Meakin & Co.Ltd. Brewing was suspended at the Kasauli Brewery and a latest brewing and bottling plant was installed at conveniently placed Solan. Extensive malting at Kasauli was, however, continued in operation. There are few places on earth where the water is ideally suited to brewing. Solan is one. With the times, as modern scientific progress made it possible to augment production several times with the latest machinery, the unproductive centers were closed down one by one retaining distilleries at Kasauli and Lucknow and brewery at Solan (Simla Hills); all the three centers enormously expanded to meet any expected demand. In 1935 when Burma was dismembered from India the name of the Company with Indian assets and liabilities was changed to Dyer Meakin Breweries Ltd., from Dyer Meakin & Co. Ltd., and the assets and liabilities of Burma Brewery in Burma were separated. Thereafter the Company’s name was changed from Dyer Meakin Breweries Ltd. to Mohan Meakin Breweries Ltd., w.e.f. 1.11.1966 and from 24.4.1980 the name was further changed to Mohan Meakin Ltd., and as such the Company is now known as Mohan Meakin Limited. Year 1949 saw a dynamic transformation in the fortunes of the Company, with late Padamshree N.N. Mohan at the helm of affairs.

With his far-sightedness he set up big industrial hub near Ghaziabad (U.P.) known as Mohan Nagar by establishing there various manufacturing Units namely Brewery, Distillery, Malt Houses, Glass, Ice, Break-fast Food, Fruit Products and Juices, Malt Extract factories, Cold Storage and Mohan Engineering Works etc. and there has been no looking back since then. (v) The Company’s remarkable performance is not limited to liquor, its business interests are manifold. Turning foresight into reality is the Fruit juices, Breakfast Foods, Mineral Water and Glass Factory – a strategic diversification to further reinforce its business interests.  

UnlistedZone Review FY21:

1.  The company in the FY20-21 has shown decent growth in Revenue and PAT, despite economy suffered badly due to covid-19 pandemic.

2. The company is virtually debt-free. Mohan Meakin has reduced the debt from ~12 Cr in FY19 to ~1Cr in FY21.

3. The company has excellent ROE of 25% and ROCE of 40% in FY21. 4. Mohan Meakin unlisted share is trading at P/E of 23x and Mcap/Sales of less than 1. 5. Mohan Meakin unlisted share has generated ~50 Crores of free cash flow in  the last 3 years. And, has done capex of ~20 Cr in the last 2 years. 6. LIC is holding ~8.3% shares in the company.

UnlistedZone Review of Mohan Meakin in FY22: