Available company data, source links and archived checks for Allied Blenders and Distillers Limited. Read each source and date: a past check is not a fresh review, and some earlier figures have incomplete source details.
Quarter ended 2026-06-30 · consolidated · Company filing
| Quarter | Revenue / income | YoY | Profit | YoY | Net margin | Source |
|---|---|---|---|---|---|---|
| Jun 2026 | Revenue: ₹1,809 cr | +1.8% | Net profit: ₹45 cr | -18.7% | 2.5% | Company filing source |
| Mar 2026 | Revenue: ₹1,909 cr | -1.3% | Net profit: ₹38 cr | -52.1% | 2.0% | Company filing source |
| Dec 2025 | Revenue: ₹1,934 cr | — | Net profit: ₹64 cr | — | 3.3% | Company filing source |
| Sep 2025 | Revenue: ₹1,953 cr | — | Net profit: ₹63 cr | — | 3.2% | Company filing source |
| Jun 2025 | Revenue: ₹1,776 cr | +0.5% | Net profit: ₹56 cr | +398.6% | 3.1% | Company filing source |
| Mar 2025 | Revenue: ₹1,935 cr | — | Net profit: ₹79 cr | — | 4.1% | Company filing source |
YoY means change from the same quarter a year earlier. — means no comparable figure is available. Older entries with incomplete source details have not been revalidated under the current checks.
' Allied Blenders & Distillers Limited Q4 & FY26 Post Earnings Conference Call ' May 15, 2026
From a profitability perspective, gross margin expanded sharply by 480 basis point on year-on-
year basis to 48.2%, supported by a favourable commodity and a packaging cost environment
along with backward integration benefits. These gains were partially reinvested towards brand-
building initiatives across core brands and luxury portfolio as well as strengthening
organizational capability. As a result, the EBITDA margin expanded by 179 basis points year-
on-year basis to 17.9%.
EBITDA growth during the quarter was driven by premium mix improvement, favourable input
cost, operating leverage and initial benefits flowing from backward integration project. The
increase in depreciation during Q4 FY26 and FY26 was primarily attributable to accelerated
depreciation of useful life of certain plant assets, including the PET bottle manufacturing facility.
' Allied Blenders & Distillers Limited Q4 & FY26 Post Earnings Conference Call ' May 15, 2026
Sure. I think the way we had put together the 3-year plan for ABD Maestro was that year 1, it's going to be an EBITDA negative, right, which you can see in the numbers. We will target towards CM2 neutral, which is the business being able to invest back in the brand from its own internal accruals.
So, we'll try and get to as close to a CM2 neutral. And in year 3, it will become a CM3 or EBITDA neutral company. That's our 3-year outlook. So, the idea is to drive the top line with some clear financial margin guidelines in terms of go from CM3 negative to CM2 neutral to CM3 neutral. So that's really the way we are looking at it.
' Allied Blenders & Distillers Limited Q4 & FY26 Post Earnings Conference Call ' May 15, 2026
| Alok Gupta: | Thank you, Abneesh. I think if you were to look on what could positively drive the margin, you've already covered FTA. Basically, as we understand, Q2 looks like a distinct possibility that the FTA will come in place. So that's a tick. The second important upside will come from Telangana price increase. As you know, the committee has already been formed, and they've requested all marketers and manufacturers to provide necessary details in terms of what price increase is required. This is a very important one for the industry, but especially for us, given the fact that it's a very, very large market for us, and we've got a very, very large base. So, this |
|---|---|
| will not just incrementally impact margins but significantly impact margins. The third is that in many markets, announcements have already been made. And wherever it was possible, the industry, including us, have taken the price increases. So that's third one. So, these really are 3 things that are sort of common to environment. The fourth and more importantly for us is our capex cycle. If you would recall, our guidance was that by FY28, we see about 300 basis point improvement in our gross margins. | |
| And while your question is limited to FY27, but just to conclude, and by FY29, an incremental 100 basis points. So, these are 3 or 4 areas where we believe our margins will have a positive kick up. As regards to the geopolitical-related inflationary pressure, for time being, our assumption is that this issue will resolve over the next month or so and some bit of correction and normalcy will come in the market. So, our view is that if this issue was to resolve over the next couple of | |
| Abneesh Roy: | months, we will see some short-term pressure. But overall, for FY27, we should be able to, by and large, deliver margins no different than FY26. Sure. That's helpful. One follow-up on this is, in Telangana, that price hike, you think that can come in the near term? And in Karnataka, I had a specific question. The number of slabs have been reduced very sharply. And alcohol content and taxation, there is some level of linkage. Is it negative for Officer's Choice in any way? And do you see opportunity in some of the other brands, but slight negative for Officer's Choice in Karnataka? |
| Alok Gupta: | I think Karnataka, we have to keep in mind that the policy is yet to be implemented. Therefore, drawing any conclusion at this stage may not be prudent. Having said that, if the policy was implemented in the manner that it is currently outlined, or discussions are on, definitely an up for the P&A segment. We are seeing ICONiQ doing very well in the state of Karnataka, and therefore, it could get a hockey stick opportunity in Karnataka. We do expect moderation to happen in the lower slabs. And if that moderation takes place, we believe for a brand like Officer's Choice, it could be neutral to positive. Having said that, it's a very, very small market for us. I mean, we put together do on Officer's Choice, maybe about 300,000 cases annually. Therefore, the bigger opportunity is in the P&A segment, but the policy is yet to be implemented. |
Allied
Blenders
and Distillers Ltd.
Abneesh Roy:
Amar Sinha:
May 15, 2026
As far as Telangana is concerned, I think our view is a bit conservative, but optimistic.
' Allied Blenders & Distillers Limited Q4 & FY26 Post Earnings Conference Call ' May 15, 2026
| flexibility to cross the maximum ceiling, or we will do the phased sort of expansion so that our ratios are within limit? | |
|---|---|
| Alok Gupta: | Nitin, we are quite committed. Our entire capex investment will be a combination of internal accruals and borrowing whenever required, but we do not intend breaching these covenants at all. |
| Moderator: | Our next question comes from the line of Mehul from JM Financial Limited. |
| Mehul: | My first question is obviously on your overall sales growth guidance of mid-teens and P&A sales growth guidance of close to high teens. Now if you can, for the P&A sales growth, while you did allude to how ICONiQ will grow, and obviously, to some extent, ABD Maestro will be in a scale-up mode in FY27. But ex of ICONiQ and ex of ABD Maestro, we do have OC Blue and Sterling Reserve. I just wanted to understand what are the issue with actually OC Blue and Sterling Reserve? And how |
| Alok Gupta: | do you see these brands playing role in FY27 growth? All right. Thank you very much. Let me just also add to the mix a bit about mass premium. So, in addition to the point that Amar made that we are trying to do a few things, we have now approvals for OC brandy in the state of Andhra Pradesh, and we see another millionaire brand in making in OC brandy in this financial year. So, I think that's something that we are excited about again. So, I just thought I'll add that to the mix. As far as ICONiQ is concerned, I've already sort of responded to Nitin's query, so that gives a reasonably good view to you. ABDM brand, I think it's an interesting point that we keep making that as we keep scaling up ABDM portfolio for 1% volume contribution that comes to ABD, it translates to roughly 9% value growth. So, when we are talking about a mid-teens value growth, I think we have to keep one thing in mind that ABDM will not necessarily move the volume growth lever, but it substantially impacts the value growth lever. |
| As regards OC Blue and SRB7 essentially, both these brands are now more than 10 years old. They are operating in a highly competitive segment with strong number 1 and 2 brands. I think now that we are able to provide right amount of A&P capital to these brands, combined with newer packaging, I think all we have to do is to address the issue of represent these brands to the consumer, put the right amount of A&P so the brand is on top of mind and it drives back sales. So, this is one agenda point that is going to keep us busy this year. And you think that the decline will get arrested for these 2 brands in FY27 and they'll be back | |
| Mehul: | to positive growth trajectory? |
| Alok Gupta: | Yes. So, the marketing program that we put together on SRB7, we first experimented in some of our key markets, and which is giving us enough confidence, not only we are able to arrest de- growth, but we were also able to bring in growth of low single digit. |
Allied
Blenders
and Distillers Ltd.
Mehul:
Alok Gupta:
May 15, 2026
So, the idea was that instead of just putting A&P money in one go, like a bull in China shop
approach, let's make sure that we test that what we are doing on the brand is actually delivering.
A summary note on a few key brands, Officer's Choice whisky. For Officer's Choice whisky,
the focus is on stabilizing performance through brand refresh and improved market relevance.
Efforts are centred on strengthening the consumer connect, enhancing visibility and selectively
investing in key markets. The objective is to arrest decline while enabling gradual recovery and
retention. Also, in certain high-volume key southern markets of Telangana and Andhra Pradesh,
driving growth at value price points in the whisky category to cater the consumer demand.
Additionally, as highlighted in our Q3 FY26 earnings call, we see a compelling opportunity in
Andhra Pradesh mass premium brandy segment, a large 12 to 13 million case market where
ABD had limited prior presence. With necessary approvals now in place, we have commenced
participation with our flagship brand, Officer's Choice brandy in this attractive and high-growth
segment, which is expected to contribute meaningfully over the medium term. Through a
combination of above, we expect mass premium and other category to grow by low to mid-single
digits.
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