Asgard Alcobev Ltd · BSE:ASGARD
Asgard Alcobev — Investor Presentation (October 2026)
35 slides from Asgard Alcobev's investor presentation, Oct 22, 2026
Slide 1: BSE Regulation 30 intimation letter
Date: 22 October 2026 To, The Manager – Listing Compliance BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400 001. Scrip Code: 512025 Subject: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulation”) – In
Slide 2: Asgard Alcobev Limited Investor Presentation
Asgard Alcobev Limited ed Investor Presentation
Slide 3: Safe Harbour
Safe Harbour ages This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of Asgard Alcobev Limited (Company) nor shall part, or all, of this document form the basis of, or be relied on in connection with, any co
Slide 4: About
About Asgard operates one of Northeast India’s largest brewing platforms through its subsidiary CMJ Breweries Private Limited. Business & Transformation Acquired a 78.90% interest in CMJ Breweries, GS operating in Meghalaya since 2012. Manufacturing Platform 8.4 Million Cases Installed annual capaci
Slide 5: Established Manufacturing Partners
a Established Manufacturi rite Pa fi All our long-term relationships are supported by recurring agreement) ~= renewals. } j This arrangement with leading brand owners strengthens the commercial foundation for our expanded brewing platform. United Breweries Carlsberg India Mohan Meakin Yuksom Breweri
Slide 6: Chairman Emeritus & KMPs
Chairman Emeritus & KMPs_ ai Strategic Guidance and Executive Leadership Sy: uf Shri Rohit Jain Chairman Emeritus & Strategic Advisor Seasoned entrepreneur across breweries, distilleries, cement, steel and allied industries. A key force behind CMJ’s founding and growth since 2012, providing guidance
Slide 7: Message to Shareholders
Message to Shareholders | From strategic transition to disciplined execution. See ASGARD ALCOBEV A Decisive Shift to Brewing Exited the paper business and acquired a 78.90% stake in CMJ Breweries through a share swap, establishing an operating brewing platform. Utilisation Before New Capital Priorit
Slide 8: Board of Directors
Mr. Ronak Jain Managing Director 15+ years in liquor and beer; Masters in International Business, Monash University. Mrs. Priyanka Jain Director 10+ years in human resources and organisational development; University of Calcutta graduate. Mr. Binit Singhania Finance Director & Chief Financial Office
Slide 9: Independent Directors
‘ 1 Li} Hic } q + ‘ at 4 J on . ole 5 I phe. NE Independen irectors | af i cin oe a = i - _ = - Lies! © Mr. Mitadar Prabhu Mr. Mundrath | Independent Director Ravindranathan Independent Director Champion Breweries Plc — = eae” distillery 50+ years in brewing operations, = and ethanol 5 quality manag
Slide 10: Why Partners Choose Us
ee — Mn fi He EB Why Partners Choose Us” ) Five established beer companies manufacture on the Meghalaya Nor Manufacturing Standards i ‘ Production to partner specifications Partner audits and batch consistency Reliable delivery into a regulated supply chain Regional Economics Regional production red
Slide 11: The Contract Brewing Model
pt | ee ASGARD ALCOBEV The Contract Brewing Model? " “4, t he ie} ; ie he : The platform earns through a franchise / licensed-brewing & contract-manufacturing model — f producing a brand owner's product to its specification, under its audit, typically for a conversion fee. f ~ ©) The brand owner ret
Slide 12: The Regional Brewing Advantage
ia ye ; ini tes athe t a) vg! | The Regional Brewing Advantage y! I Mina | ] ) Heavy & low-value Faster to market Fixed cost — variable Freight is a large share of Producing inside the consuming For the brand owner, third-party realisation. Moving a litre of state shortens lead times and manufacture
Slide 13: Regional Growth Tailwinds
Regional Growth Tailwine Simpler alcohol tax administration + Excise heuk Single combined levy Meghalaya announced the consolidation of liquor VAT and excise duty into a single ad valorem levy, administered by the Excise Department. The stated objective is to streamline tax collection and improve co
Slide 14: Moat
MOAT Why this pears cannot be replicated quickly Oris @|Q ron Regulatory barrier Earned trust Geographic position Automation & standard Alcohol is a State subject. Every A roster of five brand owners The large, modern, compliant Integrated process control state runs its own licensing, represents yea
Slide 15: 14
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Slide 16: Begin brewing for Sona Beverages in 2015
Begin brewing for Sona Beverages Pvt. Limited in 2015 15
Slide 17: Manufacturing Platform
ie = i || | |, aaa R = Bb: ROR Manufacturing Platfor I | An automated, integrated brewery in Byrnihat, al i | Integrated Precision & Strategic Regional Infrastructure Consistency ©) Location e@ Integrated brewing, bottling @ Controls across brewing, @ Meghalaya-Assam corridor and packaging fermentat
Slide 18: Brewery at Byrnihat
‘| Brewery at Byrni — = tn a | at ROS ASGARD ALCOBEV Automated for consistency Integrated controls maintain brewing quality and enable switching between partner specifications. Built for partner standards Production follows brand specifications and audits for Carlsberg and Heineken. ? Regional acces
Slide 19: Brewery at Byrnihat
Brewery at Byrnihat Ws
Slide 20: Automation Leadership
wt Automation Leadership Be CMJ operates at global-benchmark automation levels ship iKe) RE ae by Carlsberg and Heineken), delivering simultaneous gains in cost efficiency, quality and capacity utilisation. ‘tl oa Application Technology Partner Origin Operational Benefit Process Control / A SIMATIC
Slide 21: Brewing Process
Brewing Process From malted bar and flavour. ey to the finished brew. Milling ~ Mashing Lautering Malted barley is crushed Hotwater and controlled min] | The mashis filtered to expose the kernels (o°oJ ) heat convert starches into ry to separate wort fron while preserving the husk. fermentable sugar
Slide 22: Operational Highlights
Operational Highttehts r An established brewing platform with capacity for growth. SOs ASGARD ALCOBEV Installed brewing capacity 8.4 Million Expansion Underway March 2027 10.8 Million Cases ‘m Manufacturing location cel ) 1 facility Byrnihat, Meghalaya (9 Sweet spot location for entire NE Region. )
Slide 23: FY 2025-26 Financial Results
FY 2025-26 ata i Ae Res ine SO Financial performance and balance sheet mn ke 7 1} "peels cf Revenue from operations Operating profit (EBITDA) Profit after tax Earnings per share £101.51 Cr <7Cr £1.49 Cr ~0.10 Up 75% Margin: 7% Impacted by transition costs Face value: 21 E S Net worth Total assets Ne
Slide 24: Q1 FY27: Post-Transition Performance
Wes Seyi ees Q1 FY27: Post-Transition Performance | lip: | Consolidated results | Quarter ended 30 June 2026 | % crore , | | il i “Tot wh pn - , Dis 2 Revenue from Oy Total expenses EBITDA | aie Ee (excl. other income) ee 53.04 Cr 50.72 Cr 25.15 Cr 9.71% C Profit before tax Consolidated PAT (%) E PA
Slide 25: Partner Product Portfolio
United Breweries United Breweries Limited Kingfisher Carlsberg India Carlsberg India Limited Carlsberg ¢ Tuborg Product Portfolio t Mohan Meakin Mohan Meakin Limited Asia72 e Golden Eagle Yuksom Breweries Yuksom Breweries Limited He-man 9000 = Mo ASGARD ALCOBEV ONL Sona Beverages Sona Beverages Priv
Slide 26: Product Portfolio: Own Brands
o_ CAD FS Product Portfolio seprcmm Own Brands | Seven owned labels across lager, IPA and strong beer , ik is The Himal Nutcrack i ~ Magpie ae e Himalayan lutcracker pei i C pnt , fp Monkey 9000 Indian lager Opus Royal Lager 2 \ mates ve Preriurrie: super-premium strong (%) Below 8% ABV Below 5% @e.
Slide 27: Own Brands
Own Brands Seven owned labels. One established brewing platform. - > it Proven Broad Product Margin & Growth Manufacturing Platform Coverage Opportunity Contract manufacturing remains the foundation of CMJ’s brewing platform. Own brands use the same brewhouse, automation and quality processes that s
Slide 28: Strategy: Improve Utilisation and Acquire New Clients
Strate Improve Utilisation and Acquire New Clients ba red ASGARD ALCOBEV Increase Plant Utilisation Convert available capacity into production through new contracts and deeper partner relationships. > rc @) Extend the Contract Book Build a pipeline of multi-year manufacturing agreements, using the G
Slide 29: Geographic Expansion
Geographic Expansion rye Carlsberg and Heineken both face capacity constraints in high-growth regions. 0 Asgard’s CMO Opportunity Expand from a Northeast specialist into a pan-India contract manufacturing partner. ot Potential Markets | (Potential Markets ») (Potential Markets ») Potential Markets !
Slide 30: Scaling for the Future
Scaling for the Future A strategic capacity expansion to meet growing demand and strengthen our market presence. Current Capacity End State Capacity B i B @) 8.4 Cases % @)| 48 Cases | | 1 Plant | A Plants — A Broader Geographic Footprint can position Asgard to serve capacity-constrained brewers acr
Slide 31: The Next Stage
The Next Stage © +: = if rs 7 Va Higher utilisation, —— contracts and Wren own Se Tp in 3 a ~ Se Deepe en , an aie Manufacturing Expansion Plan Hlisation Partnerships Grow Production by Expand volumes with New capacity expansion optimising the existing existing partners and add backed by orders from
Slide 32: India Beer Market
India Beer Market it ree Low penetration, young consumers and policy reform support durable, premium-led volume growth.? nq The Opportunity A 10x Volume Gap %477 bn — %833 bn Hb China Today to 2034 | 6.45% CAGR 420 M 4,200 M Near-term momentum: ~8-10%; Q4 ~10%. cases cases Cyclical upside, not the l
Slide 33: Source: Technopak Analysis
Source: Technopak Analysis 32 31
Slide 34: ih? aes
ih? aes D i ! a i e ASGARD ALCOBEV No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correcteness or the information or opinions contained in this presentation. Such information and opinions are in all event
Slide 35: Thank You
a Thank You ELEPHANT TRONG BEER ‘[
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