ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED

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Investment Opportunity in Embassy Group Company

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Invest in Gold Loan Backed Bonds from Muthoottu Mini Financiers Ltd.

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Investment Opportunity in Embassy Group Company

Earn up to 13.15% p.a.

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Invest in Gold Loan Backed Bonds from Muthoottu Mini Financiers Ltd.

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Returns (YTM)

9.02%

Min. Investment

₹ 1,02,879.45

Remaining Tenure

9Y 11M 8Days

Payment Terms

Quarterly

Highlights

Credit Rating

IND AA/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Company Financials

Revenue

PAT

Debt

Net Worth

Important disclaimer

Ratio Analysis

12.1

Debt to Equity Ratio

Risky

Benchmark: Maximum 12 times

0.09

Operating Cash Flow to Debt Ratio

Risky

Benchmark: Higher the ratio better it is.

2.14

Interest Coverage Ratio

Good

Benchmark: Minimum 2

Important disclaimer

About Issuer

Andhra Pradesh State Beverages Corporation Limited (APSBCL) is the state-run agency responsible for managing the wholesale and retail distribution of alcoholic beverages in Andhra Pradesh. It operates a network of wholesale depots and retail shops across all districts, handling the procurement, storage, and sale of spirits and liquor as the sole authorised distributor in the state. Through its structured operations, APSBCL ensures regulated access to licensed products while helping the state monitor and control alcohol supply.

Total Annual Revenue

18075.55 Cr (FY 21)

Year of Inception

2015

Industry

State Govt Backed

Head Office

GUNTUR

Type of Issuer

PSU

Current MD/CEO

Sri Nishant Kumar, IAS

Credit Rating / Outlook

AA STABLE

IND

Rating Rationale

Rating Date: 26-Jun-2025

AA STABLE

ACUITE

Rating Rationale

Rating Date: 01-Dec-2025

Credit rating by different rating agencies indicates the bond issuer’s ability to repay its debt obligations. A bond can be rated by one or more SEBI registered credit rating agencies e.g. CRISIL, CARE, ICRA, IND, BWR, ACUITE, INFOMERICS.
Bonds/NCDs with AA credit rating are considered to have a high degree of safety regarding timely servicing of debt obligations. Such Bonds/NCDs carry very low credit risk.
Stable Outlook suggests that the rating is unlikely to change significantly in the near to medium term, indicating a stable credit profile of the issuer.

Other Important Details & Disclosures

Issuer Name

ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED

Security Name

9.15% ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED Secured Rated Listed NCD Maturity 30-Nov-2035

ISIN

Copy

INE0M2307396

Face Value

₹ 1,00,000

Coupon Rate

9.15%

Coupon Type

FIXED

Payment Terms

Quarterly

Maturity Date

30-Nov-2035

Clean Price

₹ 102.68

Dirty Price

₹ 102.88

Current Yield

8.9113%

Yield to Maturity

9.0183%

Mode of Issue

Private Placement

Date of Issue

16-Dec-2025

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Beacon Trusteeship Ltd

Registrar Details

Beetal Financial & Computers Services Pvt. Ltd.

99, Madangir, Behind Local Shopping Centre, Near Dada, Harsukhdas Mandir, New Delhi - 110 062

Looking For More Information ?

Download Prospectus

Taxation

10%

TDS on Interest Income*

*Given TDS is indicative and fully claimable while filing ITR. The interest income from this bond will be taxable and will appear in the additional source of income in your ITR. Please consult your tax advisor for precise taxation details
As a listed bond, it is subject to capital gains tax based on the holding period. A holding period of less than 1 year qualifies as short-term, while more than 1 year qualifies as long-term.
You can submit your Form 15G/15H to the registrar and debenture trustee of the bond to avoid the TDS deduction. Download Form

Registrar details: Beetal Financial & Computers Services Pvt. Ltd. 99, Madangir, Behind Local Shopping Centre, Near Dada, Harsukhdas Mandir, New Delhi - 110 062

Unit

Investment Amount

₹ 1,02,879.45

Total Returns

₹ 84,778.68

Total Receivable

₹ 1,87,658.13

Cashflow Timeline

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ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED

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₹ 1,01,195.75

Returns

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Payout

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Credit Rating

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ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED

Min Investment

₹ 1,01,469.35

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Payout

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ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED

Min Investment

₹ 1,01,723.55

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ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED

Min Investment

₹ 1,02,138.85

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Payout

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ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED

Min Investment

₹ 1,01,976.95

Returns

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Payout

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Credit Rating

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FAQs about ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bonds

How to buy this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond online?

You can invest in bonds online in under 5 minutes. To buy ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond online follow the steps below:

Login/signup at GoldenPi
Upload your documents online to complete the KYC
Pay online via payment gateway and receive bond units in your demat account

What is the yield of this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond?

9.0183% is the current yield of this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond. A bond’s current yield indicates the annual return based on its current market price and annual coupon payment.
In addition to current yield, the yield to maturity (YTM) of this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond is 9.0183%, which indicates the total expected return if the bond is held till the maturity date. It is calculated using the XIRR method considering current price, face value, coupon payments, and time to maturity.

Is it safe to invest in bonds?

Investing in bonds is relatively a safer option but it depends on factors like:

The creditworthiness of the issuer indicated by the credit rating
The debt quality of the bond indicated by its seniority and security
Your investment goals and risk appetite

If you are an existing bond investor and want to sell your bond holdings before maturity, you can do so through the secondary market. This can be done either through exchanges such as BSE or NSE, or you can also request a quote from your relationship manager at GoldenPi.

How to redeem this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond?

To redeem this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond, bond, kindly first check its redemption value and redemption schedule. This can be found by downloading the cash flow from the “Calculate Your Returns” section of this page or by contacting the support team at GoldenPi.
Once you buy this bond, the units would be reflected in your demat account.
Upon maturity, the bond units held in your demat account will be automatically debited on the maturity date, and if the maturity date falls on a bank holiday, the redemption amount will be paid out on the next working day.
The funds will be credited to the bank account linked to your demat account. The process of redeeming this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond is generally simple and straightforward. Contact our support team for more information.

Is this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond tax-free?

No, this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond is not tax free. The interest income received from these bonds will be treated as “income from other sources” in the ITR and the tax will be calculated as per your income tax slab.

To know more about taxation in detail please read this article: https://goldenpi.com/blogessentials/bond-market/taxation-on-gains-from-bond-investments/

Can I sell this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond before the maturity date?

Yes, it is possible to sell this ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED bond before maturity. However, as the sale process happens in the secondary market, the price can be determined by a variety of factors, including interest rates, credit ratings, company performance, and market demand.

To know more about the sale process, contact us at https://goldenpi.com/contact-us

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Cashflow Timeline

Timeline

Total Receivable*

Net Receivable**

2026

₹ 9,200.14

₹ 8,280.13

27 Feb	Interest ₹ 1,830	Interest ₹ 1,647
29 May	Interest ₹ 2,281.23	Interest ₹ 2,053.11
31 Aug	Interest ₹ 2,356.44	Interest ₹ 2,120.8
18 Dec	Interest ₹ 2,732.47	Interest ₹ 2,459.22

2027

₹ 8,698.76

₹ 7,828.88

2028

₹ 9,150

₹ 8,235

2029

₹ 9,149.99

₹ 8,234.99

2030

₹ 9,124.92

₹ 8,212.43

2031

₹ 9,124.92

₹ 8,212.43

2032

₹ 9,175

₹ 8,257.5

2033

₹ 9,175.06

₹ 8,257.55

2034

₹ 9,149.99

₹ 8,234.99

2035

₹ 1,05,709.35

₹ 1,05,138.41

* The interest amount is paid as per total invested face value (₹ 100000) and annual coupon rate of 9.15%. When the bond enters the staggered maturity cycle, it will be calculated based on the outstanding face value.

** The net interest receivable is after 10% TDS for Indian Residents. However for NRI 30% TDS is deducted. The deducted TDS can be claimed while filing ITR.

Highlights

Company Financials

Ratio Analysis

About Issuer