Allied Blenders And Distillers Limited · NSE:ABDL
Allied Blenders And Distillers — Q4 FY25 Earnings Presentation
38 slides from Allied Blenders And Distillers's earnings presentation, May 15, 2025
Slide 1: Stock exchange intimation letter – Q4FY25 results presentation
May 15, 2025 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code (BSE): 544203 Symbol: ABDL Our Reference No. 13/ 2025-26 Our Reference No. 13/ 202
Slide 2: Q4 and FY25 Earnings Presentation
Q4 and FY25 Earnings Presentation May 2025 (BSE: 544203 | NSE: ABDL)
Slide 3: Agenda
Agenda 1 Growth Strategy 3 2 Investment Case 4 3 Financial Performance Highlights 5 4 Management Perspectives 8 5 Financial and Operational Performance 9 6 Future Ready Transformation 13 7 Leadership Team 24 8 Financial Statements 26 9 Key Brand Portfolio Overview 29 2
Slide 4: Build, Buy and Partner Growth Strategy
Build, Buy and Partner Growth Strategy 4 Millionaire Brands Prestige / Premium / Luxury Officer’s Choice Whisky Officer’s Choice Blue Whisky Launched in 1988 Launched in 2011 • 6th largest spirits brand in the world • Regional power brand in the Prestige • 3rd largest whisky brand in the world categ
Slide 5: ABD Investment Case
ABD Investment Case Platform of scale in the attractive, rapidly premiumising 4 Prestige & Above brand portfolio well positioned for high growth 1 Indian consumer market trajectory • No.1 Indian spirits company by volume (33.1 Mn cases in FY25) • Strong growth in Prestige Millionaire Brand whiskies
Slide 6: Consolidated Financial Year 2025 Highlights
Consolidated Financial Year 2025 Highlights YoY Record financial performance with highest ever annual EBITDA ₹ 451 Cr and PAT ₹ 195 Cr Income from Operations EBITDA • Successful completion of IPO in July 2024 of ₹ 1,500 Cr ₹ 3,541 Cr ₹ 451 Cr up 6.2% up 81.7% • Topline growth driven by strong P&A vo
Slide 7: Consolidated Q4 Financial Year 2025 Highlights
Consolidated Q4 Financial Year 2025 Highlights YoY Highest ever quarterly EBITDA ₹ 150 Cr, PAT ₹ 79 Cr and 16.1% EBITDA Margins Total Volume Total Realization Income from Operations (Mn Cases) (Per Case) 8.5 ₹ 1,028 ₹ 935 Cr +20.8% YoY +3.9% YoY +21.4% YoY Sales Contribution Volume Contribution EBIT
Slide 8: Standalone Financial Highlights
Standalone Financial Highlights YoY Highest ever recorded annual financial performance with EBITDA ₹ 453 Cr and PAT ₹ 200 Cr Q4 FY25 FY25 Income from Operations EBITDA Income from Operations EBITDA ₹ 935 Cr ₹ 150 Cr ₹ 3,541 Cr ₹ 453 Cr up 21.3% up 139.6% up 6.2% up 81.0% PAT PAT EBITDA Margin EBITDA
Slide 9: Management Perspectives
Management Perspectives • FY25 marks the third consecutive quarter and full year of consistent execution of ABD’s four-pillar transformation agenda: premiumisation, backward integration, margin expansion Portfolio Premiumization and governance enhancement • P&A portfolio continues to outperform the
Slide 10: Consolidated Quarterly Performance Trend
Consolidated Quarterly Performance Trend Income from Operations (₹ Cr) EBITDA (₹ Cr) Topline growth: 21.4% 141.5% • Higher by 21.4% compared with Q4FY24 150 • Mass Premium volume growth of 13.3% 977 935 • P&A volume strong growth of 32.7% 120 770 • Lower by 4.3% compared with Q3FY25 as generally con
Slide 11: Q4 Financial Year 2025 Brand Portfolio Highlights
Q4 Financial Year 2025 Brand Portfolio Highlights Sales (₹ Cr) Q4 FY25 Q3 FY25 Q-o-Q Q4 FY24 Y-o-Y Sales Contribution P&A 453 482 (6.0%) 331 36.8% Q4 FY24 Q4 FY25 Mass Premium 425 444 (4.1%) 369 15.3% Total Sales 878 925 (5.1%) 700 25.5% 48.4% 47.3% 52.7% 51.6% Others 57 52 9.9% 70 (18.9%) Income fr
Slide 12: Financial Year 2025 Brand Portfolio Highlights
Financial Year 2025 Brand Portfolio Highlights Sales (₹ Cr) FY25 FY24 Y-o-Y Sales Contribution P&A 1,665 1,469 13.3% FY24 FY25 Mass Premium 1,669 1,627 2.6% Total Sales 3,334 3,096 7.7% 50.1% 47.5% 52.5% 49.9% Others 207 238 (13.5%) Income from Operations 3,541 3,334 6.2% P&A Mass Premium Volume (Mn
Slide 13: Financial Year 2025 Cashflow Analysis
Financial Year 2025 Cashflow Analysis Net Debt / EBITDA: 3.0x Improved leverage ratios Net Debt / EBITDA: 1.7x Improvement in both Net Debt profile and leverage ratios: Net Debt / Equity: 1.8x Net Debt / Equity: 0.5x 441 • Net IPO proceeds of ₹ 976 Cr utilised for repayment of high cost debt and sta
Slide 14: Future Ready Transformation
Future Ready Transformation Where were we? Where are we now? Initiatives Way Forward in 3 years FY24 FY25 P&A Salience (Volume) 25.0% (FY18) – 37.3% (FY24) FY: 40.4%; Q4: 42.4% ~50% Portfolio Build-up 1. ZOYA 4. Russian Standard Continued range expansion in Super-Premium to Luxury No presence 2. Art
Slide 15: Portfolio Build Up: Enhancing Presence in Premium and Luxury Category
Portfolio Build Up: Enhancing Presence in Premium and Luxury Category 5000 5000 4800 Russian 4500 Standard Mass Prestige Premium Super-Premium to Luxury Platinum Premium Vodka 4000 3150 Arthaus Blended 3050 Malt Whisky 3500 MRP 750 ml SKU (₹) 3000 Pumori 3000 Gin 2600 Segredo Aldeia 2500 2400 2200 W
Slide 16: Portfolio Build Up: Increasing Market Share in P&A
Portfolio Build Up: Increasing Market Share in P&A Segment Strategy Accelerate growth of Prestige whiskies Prestige Gain additional market share with the launch of brandy – Golden Mist P&A Drive growth in Indian market with sharper focus on both domestic and defense markets Premium Portfolio Initial
Slide 17: Portfolio Build up: ABD Maestro Offering Super-Premium to Luxury Portfolio
Portfolio Build up: ABD Maestro Offering Super-Premium to Luxury Portfolio • Blending world-class products, sourcing and craftmanship • Bollywood Superstar Ranveer Singh as Business and Creative Partner • Ready to scale with two manufacturing facilities to cater to small batches • Dedicated 50 peopl
Slide 18: Strategic Investments: Margin Accretive Backward Integration Projects
Strategic Investments: Margin Accretive Backward Integration Projects Total of ~₹525 Cr investments includes ₹ 72 Cr for MAILLP distillery acquisition Balance to be funded through internal accruals and debt PET Bottle • Advanced stage of commissioning a captive PET bottle manufacturing facility of ~
Slide 19: Strategic Investments: Strategically Located Manufacturing Facilities
Strategic Investments: Strategically Located Manufacturing Facilities 2 Distilleries ~71 MLPA • Acquisition of MAILLP completed in Dec-24. Annual Distillation Capacity Operations of existing ~11 MLPA facility commenced in Feb-25 • Strategic Investment: Expansion by additional ~50 MLPA expected by Q4
Slide 20: Broadening Horizons: Expanding Export Markets
Broadening Horizons: Expanding Export Markets Overview • Expanded the exports markets to 23 countries from 14 countries in FY24 Russia Canada • Increasing presence in the high EU growth markets of Africa and now in USA US Lebano • The latest Millionaire Brand n Bahrain Qatar ICONiQ White has already
Slide 21: Strategically Located: World Class Manufacturing Facilities
Strategically Located: World Class Manufacturing Facilities 2 Distilleries* 9 ~71 Mn liters Owned Jammu and Annual Distillation Capacity Kashmir 6 Purkhali Sansarpur 34 Bottling Units Third Party Derabassi Haridwar Ambala Exclusive Hapur Aligarh Naharlagun 25.2 Mn, 70.2% Owned 19 Jodhpur Jaipur Guwa
Slide 22: Pan-India Distribution Network with Ability to Scale
Pan-India Distribution Network with Ability to Scale Multiple Route-to-Market capabilities cover channels including: • Open Market 30+ • Part Corporation Market States and UTs Ludhiana Chandigarh • Full Corporation Market 79,329 Retail Reach Gurgaon 12 Jaipur Guwahati Sales Support Office ABD is one
Slide 23: Key Milestones
Key Milestones 2001 2017-19 2024 Officer’s Choice Whisky ranked 3rd among the largest Expanded offering to prestige selling whisky brands globally segment with launch of two new in CY2021 Entered into Rum and brands – Jolly Roger rum and Entered Premium and Brandy category with Officer’s Choice Blue
Slide 24: Corporate Governance Framework
Corporate Governance Framework Board of Directors and Senior Management Partnerships • Independent board oversight • DESS: - 7 Independent directors out of a total of 14 directors - Board portal for paperless meetings and Directors’ evaluation - 2 Global professionals overseeing international best p
Slide 25: Board of Directors: Stewardship and Expertise
Board of Directors: Stewardship and Expertise Kishore Rajaram Chhabria Vivek Anilchand Sett Chairman & Non-Executive Director Independent Director • ABD • Ispat Industries Limited • Nectar Life Sciences • Shaw Wallace & Company Ltd • Tata Teleservices Ltd. • New Silk Route Advisors Ltd • Tata Realty
Slide 26: Senior Management Team: Industry and Multi Sector Experience
Senior Management Team: Industry and Multi Sector Experience Alok Gupta Arvind Mohta Managing Director Marketing Director Joined ABD In 2023, work experience ~38 years Joined ABD In 2025, work experience 19+ years • Dabur Ltd • Whyte & MacKay Ltd • United Spirits Ltd • Johnson & Johnson • United
Slide 27: Consolidated Income Statement
Consolidated Income Statement ₹ Cr Q4FY25 Q3FY25 Q-o-Q Q4FY24 Y-o-Y FY25 FY24 Y-o-Y Total Income 1,949 2,346 (16.9%) 1,759 10.7% 8,094 7,675 5.5% Excise Duty 1,014 1,368 (25.9%) 990 2.4% 4,553 4,341 4.9% Income from Operations 935 977 (4.3%) 770 21.4% 3,541 3,334 6.2% Cost of Goods Sold 521 557 (6.5
Slide 28: Consolidated Balance Sheet
Consolidated Balance Sheet ₹ Cr FY25 FY24 ₹ Cr FY25 FY24 ASSETS Equity And Liabilities Non-Current Assets Equity Property, Plant & Equipment 506 446 Share Capital 56 49 Capital Work in Progress 19 16 Other Equity 1,487 358 Rights of Use Assets 119 122 Goodwill 17 4 Non Controlling Interests 20 - Oth
Slide 29: Consolidated Cashflows
Consolidated Cashflows ₹ Cr FY25 FY24 Cash and Cash Equivalents at Beginning of the Year 27 27 Cash Flow From Operating Activities (678) 186 Cash Flow from Investing Activities (182) (54) Cash Flow From Financing Activities 921 (132) Net Inc./(Dec.) in Cash and Cash Equivalent 61 (0) Cash and Cash E
Slide 30: Key Brand Portfolio Overview
Key Brand Portfolio Overview Officer’s Choice Officer’s ICONiQ Sterling Golden Mist Srishti Kyron Sterling Rock Paper Zoya Gin Woodburns Segredo Pumori Arthaus Blended Russian Whisky Choice Blue White Reserve B7 Brandy Whisky Brandy Reserve B10 Rum Whisky Aldeia Gin Malt Whisky Standard Whisky Whisk
Slide 31: Portfolio of Core Brands
Portfolio of Core Brands Segment To Category Whisky Brandy Rum Vodka Gin * ** ** Super-Premium To Luxury Premium # Prestige Mass Premium 1) *Board approved in Jan-25 investment in Rock Paper Rum brand 30 2) **Russian Standard Vodka expected to be launched in Q1FY26 2) #Golden Mist launched in Apr-25
Slide 32: Officer's Choice
Mass Premium Officer’s Choice Flagship brand continues to maintain market Awards Category: Whisky leadership • Leading the Mass Premium whisky segment in India for over a decade • India’s #1 exported whisky brand • Market leader in the Middle East; strengthening position across African markets • Maj
Slide 33: Officer's Choice Blue
Prestige Officer’s Choice Blue ICONiQ WHITE Category: Whisky Category: Whisky Millionaire Brand in the prestige segment offering distinguished Millionaire Brand achieving global recognition and appealing choice in ~15 Months of launch • Continues to enjoy position as a regional power brand in the P&
Slide 34: Prestige and Premium
Prestige and Premium Srishti Select Collection Category: Whisky (Prestige) Crafted to elevate the everyday whisky experience • Srishti is a semi-premium Indian whisky infused with India’s golden saffron (Curcumin)—an ancient symbol of trade, tradition, and royalty • Positioned to attract value-consc
Slide 35: Super-Premium to Luxury
Super-Premium to Luxury Rock Paper Rum Zoya Gin Category: Rum Category: Gin Expansion into Premium rum category Entered into the Super-Premium segment • Strategic investment in Good Barrel Distillery Private Limited a • 1st non whisky super premium brand launched in high growth, startup with premium
Slide 36: Super-Premium to Luxury
Super-Premium to Luxury Pumori Gin Segredo Aldeia Category: Gin Category: Rum New addition to Premium gin segment New addition to Premium rum segment • The acquisition of Pumori and Pumori Pink gin marks a new • Entered into the Luxury rum category with the acquisition of 2 addition to the Premium G
Slide 37: Super Premium to Luxury
Super Premium to Luxury Russian Standard Original Russian Standard Vodka Russian Standard Platinum Vodka Category: Vodka Category: Vodka Category: Vodka Partnership with Roust Corporation • ABD partners with Roust Corporation to introduce the world's No. 1 Russian Premium Vodka to India. Expected to
Slide 38: Disclaimer
Disclaimer This document contains ‘forward-looking’ statements. These statements can be identified by the fact that they do not relate only to historical or current facts. In particular, forward-looking statements include all statements that express forecasts, expectations, plans, outlook and projec
Allied Blenders and Distillers — Q4 FY25 Earnings Presentation on 6ix