Allied Blenders And Distillers Limited · NSE:ABDL
Allied Blenders And Distillers — Q4 FY2026 Earnings Presentation
44 slides from Allied Blenders And Distillers's earnings presentation, May 15, 2026
Slide 1: Exchange filing cover letter for earnings presentation
May 14, 2026 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. 18/ 2026-27 Sub: Regulation 30 of the
Slide 2: Q4 and FY26 Earnings Presentation
Q4 and FY26 Earnings Presentation May 2026 (BSE: 544203 | NSE: ABDL)
Slide 3: The Collective: A Limited Edition 34-Year-Old Single Malt
The Collective A Limited Edition 34-Year-Old Single Malt 2
Slide 4: Agenda
Agenda 1 ABD Overview 4 2 Investment Case 5 3 Performance Highlights 6 4 ABD Maestro Update 13 5 Management Perspectives 20 6 Future Ready Transformation 21 7 Consolidated Financial Statements 30 8 Key Brand Portfolio Overview 34 9 5 Year Consolidated Financial Summary 42 3
Slide 5: ABD Overview
ABD Overview 4 Millionaire Brands Prestige / Premium / Luxury Officer’s Choice Whisky Officer’s Choice Blue Whisky Launched in 1988 Launched in 2011 • Among top 10 global spirits brands • Regional power brand in the Prestige • 5th largest whisky brand in the world category • Leverages strength of fl
Slide 6: ABD Investment Case
ABD Investment Case 1 Platform of scale in the attractive, rapidly premiumising Indian 4 Prestige & Above brand portfolio well positioned for high growth consumer market trajectory • Expanded portfolio from Mass Premium to Super-Premium and • Strong growth in Prestige Millionaire Brand whiskies Luxu
Slide 7: Consolidated FY26 Highlights YoY
Consolidated FY26 Highlights YoY Record Financial Performance with Highest Ever Annual EBITDA ₹ 568 Cr and PAT ₹ 220 Cr Income from Operations EBITDA ₹ 3,949 Cr ₹ 568 Cr up 11.5% up 25.8% • Topline driven by strong P&A volume expansion of 26.8% EBITDA Margin PAT * • ICONiQ White grew by 87.8% to 10.
Slide 8: Consolidated Q4FY26 Highlights YoY
Consolidated Q4FY26 Highlights YoY Delivers Highest Ever EBITDA ₹ 182 Cr, PAT ₹ 38 Cr and 17.9% EBITDA Margins Total Volume Total Realization Income from Operations (Mn Cases) (Per Case) 9.3 ₹ 1,050 ₹ 1,020 Cr +8.7% YoY +2.2% YoY +9.1% YoY Sales Contribution Volume Contribution EBITDA ₹ 182 Cr +21.2
Slide 9: Standalone FY26 Highlights YoY
Standalone FY26 Highlights YoY Highest Ever Recorded Annual Financial Performance with EBITDA ₹ 604 Cr And PAT ₹ 268 Cr Q4 FY26 FY26 Income from Operations EBITDA Income from Operations EBITDA ₹ 1,006 Cr ₹ 195 Cr ₹ 3,909 Cr ₹ 604 Cr up 7.7% up 29.7% up 10.4% up 33.4% EBITDA Margin PAT * EBITDA Margi
Slide 10: Consolidated Quarterly Performance Trend
Consolidated Quarterly Performance Trend Income from Operations (₹ Cr) EBITDA (₹ Cr) 9.1% 21.2% Topline growth: • Y-o-Y growth driven by: 1,004 1,020 182 935 • Strong volume growth of 20.5% in P&A category 150 with stable volumes in mass premium 137 • Q-o-Q growth led by: • Volume growth of 5.6% in
Slide 11: Q4FY26 Brand Portfolio Highlights
Q4FY26 Brand Portfolio Highlights Sales (₹ Cr) Q4FY26 Q3FY26 Q-o-Q Q4FY25 Y-o-Y Sales Contribution P&A 562 555 1.3% 453 24.2% Q4FY25 Q4FY26 Mass Premium & Others 413 388 6.4% 425 (2.8%) Total Sales 976 944 3.4% 878 11.1% 42.3% 48.4% 51.6% 57.7% Others 44 60 (26.9%) 57 (22.4%) Income from Operations
Slide 12: FY26 Brand Portfolio Highlights
FY26 Brand Portfolio Highlights Sales (₹ Cr) FY26 FY25 Y-o-Y Sales Contribution P&A 2,136 1,665 28.3% FY25 FY26 Mass Premium & Others 1,589 1,669 (4.8%) Total Sales 3,725 3,334 11.7% 42.7% 50.1% 49.9% 57.3% Others 224 207 8.4% Income from Operations 3,949 3,541 11.5% P&A Mass Premium & Others Volume
Slide 13: Global Ambition: Expanding Our Export Footprint
Global Ambition: Expanding Our Export Footprint Overview • Asset light high profit export model Russia • Profitability ~1.3x of domestic Canada • Working capital ~1/3rd of domestic • Expanded reach by over ~2x in 21 months to USA Spain 36 countries in Mar-26 Lebanon • Maintain market share in GCC Ba
Slide 14: ABD Maestro Update
—_ ABD Maestro Update man | ARTMAUS |¢SQPa |e | ME. | magne | 8, | FR | apa | Cae
Slide 15: ABD Maestro: Unlocking the Luxury Opportunity Through Product Portfolio Approach
ABD Maestro: Unlocking the Luxury Opportunity Through Product Portfolio Approach Built portfolio with unique flavour Whisky Gin price points through ‘Build, Buy & Partner’ Model* Art. For The Bold Born To Made of Live. Love. Truly Small Bottled. Explorer Stand Out Stories Rejoice. Batch Blending wor
Slide 16: ABD Maestro: Unlocking the Luxury Opportunity Through Product Portfolio Approach
ABD Maestro: Unlocking the Luxury Opportunity Through Product Portfolio Approach Expansive Established Accelerated Presence Within 1st year of Operations Presence Expanding Portfolio • Differentiated luxury portfolio ~80% • Multiple flavours and price-point offerings Addressable • Enhancing premium
Slide 17: The Collective: A Limited Edition 34-Year-Old Single Malt
The Collective: A Limited Edition 34-Year-Old Single Malt A Rare Single Malt Scotch Whisky Expression Strategic Significance: • Marks ABD Maestro’s debut in the ultra luxury spirits segment with the launch of ‘The Collective’ Limited Edition series • Expands the portfolio with a rare and limited-edi
Slide 18: ZOYA Pink Mix Berries Gin: A Premium Flavored Gin Extension
ZOYA Pink Mix Berries Gin: A Premium Flavored Gin Extension Crafted to Strengthen ABD Maestro’s Contemporary Gin Strategy Strategic Significance: • Expands ABD Maestro’s premium gin portfolio, strengthening ZOYA’s positioning in the super-premium spirits segment • Aligned with the ongoing premiumisa
Slide 19: Rewards & Global Recognitions
Rewards & Global Recognitions A Testament to ABD’s Excellence Global Recognition at Superior Taste Awards 2026 Icons of Whisky India Awards 2026 London Spirits Competition 2026 ABD Maestro portfolio brands global recognition: ➢ ABD Maestro won ‘Distiller of the Year’ ➢ Zoya Special Batch Gin, Zoya E
Slide 20: Improving Operating Cashflows & Disciplined Capital Deployment
Improving Operating Cashflows & Disciplined Capital Deployment Improving Operating Cashflows (OCF) and Financial KPIs ₹ Cr 147 215 • Consistently improving OCF (₹362 Cr in FY26) 51 driven by improved profitability and sustained working capital discipline • Planned ongoing EBITDA accretive capex prog
Slide 21: Management Perspectives
Management Perspectives • FY26 stands out as a defining year for ABD, marked by record annual profits and our second consecutive year of consistent quarterly performance post-listing. This success is driven by the accelerated growth of our Portfolio Premiumization P&A portfolio, build-up of our luxu
Slide 22: Transformation Roadmap
Transformation Roadmap Value Accretive Profitable Growth Where were we? Where are we now? Way forward Initiative FY24 FY26 FY28 Revenue growth (YoY) 5.6% 5.6% 11.5% Revenue growth in mid-teens Topline growth with Overall growth in mid-teens (value) with P&A Salience (Volume) 37.3% 37.3% 47.2% Portfo
Slide 23: Portfolio In Place Across Growth Categories
Portfolio In Place Across Growth Categories 5500 5300 5000 Mass Prestige & Semi-Premium Premium Super-Premium to Luxury 5200 Premium & 4500 Others Russian 3950 Standard 4000 Platinum 3200 Arthaus Vodka MRP 750 ml SKU (₹) Blended Malt 3500 3200 Whisky 3200 Aodh Irish 3000 Whiskey 2700 2650 Pumori Gin
Slide 24: Backward Integration: Driving Efficiency and Control
Backward Integration: Driving Efficiency and Control EBITDA & ROCE Accretive Strategic Investments • Multi-year CAPEX program focused on deepening backward Telangana Maharashtra integration and strengthening supply-chain security in key identified markets Phase I • Current and pipeline investments t
Slide 25: Backward Integration: Driving Efficiency and Control (Phase I)
Backward Integration: Driving Efficiency and Control (Phase I) Strategic Investments to Optimize Supply Chain and Enhance EBITDA Margins India’s First Single Malt ENA Distillation Capacity PET Bottle Manufacturing Distillery Expansion Investment ~ ₹75 Cr Investment ∼ ₹260 Cr Investment ~ ₹115 Cr ~4.
Slide 26: Backward Integration: Driving Efficiency and Control (Phase II)
Backward Integration: Driving Efficiency and Control (Phase II) Strategic Investments to Optimize Supply Chain and Enhance EBITDA Margins Uttar Pradesh Maharashtra Andhra Pradesh Bottling Unit Bottling Unit ENA Distillery (Dual Mode) Investment ∼ ₹110 Cr Investment ∼ ₹54 Cr* Investment ∼ ₹300 Cr* 1)
Slide 27: Pan India Manufacturing Backbone
Pan India Manufacturing Backbone Bottling Units (37) Key Features 2 large integrated facilities strategically located in in key states of Telangana & Maharashtra Own Units (9) catering to Southern and Western regions with high growth exports market Third Party Exclusive (4) 1 PET bottle manufacturin
Slide 28: Distribution Depth That Enables Premium Scale
Distribution Depth That Enables Premium Scale 30+ States and UTs Unique Proposition Expertise in tariffs, distribution, and cost 80,000+ structures across diverse Route-To-Market Retail Reach Punjab channels: Chandigarh • Open Market 12 Haryana Delhi • Government Market / Corporation Market Sales Su
Slide 29: 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 • Nectar Life Sciences • Shaw Wallace & Company • Tata Teleservices • New Silk Route Advisors • Tata Realty and Infrastructure •
Slide 30: Senior Management Team: Industry and Multi Sector Experience
Senior Management Team: Industry and Multi Sector Experience Alok Gupta Amar Sinha Bikram Basu Managing Director Managing Director – Designate Managing Director of ABD Maestro Pvt Ltd Joined ABD In 2023, work experience ~35 years Joined ABD In 2026, work experience +30 years Associated with ABD 10+
Slide 31: Consolidated Income Statement
Consolidated Income Statement ₹ Cr Q4FY26 Q3FY26 Q-o-Q Q4FY25 Y-o-Y FY26 FY25 Y-o-Y Total Income 1,922 1,935 -0.7% 1,949 -1.4% 7,597 8,094 -6.1% Excise Duty 902 931 -3.1% 1,014 -11.1% 3,649 4,553 -19.9% Income from Operations 1,020 1,004 1.6% 935 9.1% 3,949 3,541 11.5% Cost of Goods Sold 522 539 -3.
Slide 32: Consolidated Balance Sheet
Consolidated Balance Sheet ₹ Cr FY26 FY25 ₹ Cr FY26 FY25 ASSETS Equity And Liabilities Non-Current Assets Equity Property, Plant & Equipment 638 506 Share Capital 56 56 Capital Work in Progress 109 19 Rights of Use Assets 116 119 Other Equity 1,607 1,487 Goodwill 17 17 Non Controlling Interests 23 2
Slide 33: Consolidated Cashflows
Consolidated Cashflows ₹ Cr FY26 FY25 Cash Flow From Operating Activities 362 -678 Cash Flow from Investing Activities -331 -182 Cash Flow From Financing Activities 10 922 Net Increase in Cash and Cash Equivalent 41 61 Cash and Cash Equivalents at Beginning of the Period 88 27 Cash and Cash Equivale
Slide 34: Key Milestones
Key Milestones 2001 2017-19 2024 Yello Designer Whisky and 2026 Officer’s Choice Whisky ranked 3rd Aodh Irish Whiskey among the largest launched in Dec-25 Expanded offering to selling whisky brands prestige segment with Entered Premium globally in CY2021 Rangeela Vodka launched Acquisition of Distil
Slide 35: Key Brand Portfolio Overview
Key Brand Portfolio Overview Officer’s Choice Officer’s ICONiQ Golden Mist Sterling Srishti Kyron Sterling Rangeela Zoya Gin Yello Woodburns Segredo Pumori Aodh Arthaus Blended Russian Whisky Choice Blue White Brandy Reserve B7 Whisky Brandy Reserve B10 Vodka Designer Whisky Aldeia Gin Irish Malt Wh
Slide 36: ABD Portfolio Crafted for Growth
ABD Portfolio Crafted for Growth Indian Spirits Industry – 440 Mn cases Mass Premium Prestige & Semi-Premium Premium Super-Premium to Luxury (~104 Mn Cases) (~171 Mn Cases) (~33 Mn Cases) (~12 Mn Cases) Whisky Non-Whisky Whisky Non-Whisky Whisky Non-Whisky Arthaus Woodburns Aodh Irish Yello Designer
Slide 37: Mass Premium & Others
Mass Premium & Others Officer’s Choice Flagship brand continues to maintain market Awards Category: Whisky leadership in Mass Premium whisky segment • Leading the Mass Premium whisky segment in India for over a decade • India’s #1 exported whisky brand • Market leader in the Middle East; strengtheni
Slide 38: Prestige
Prestige Officer’s Choice Blue ICONiQ WHITE Category: Whisky Category: Whisky Millionaire Brand in the prestige segment offering distinguished Millionaire Brand Achieving Global Recognition in ~15 Months and appealing choice of Launch • Continues to enjoy position as a regional power brand in the P&
Slide 39: Prestige and Premium
Prestige and Premium Srishti Select Collection Category: Whisky (Prestige) Crafted to elevate the everyday whisky experience • Srishti is an Indian whisky infused with India’s golden saffron (Curcumin)—an ancient symbol of trade, tradition, and royalty • Positioned to attract value-conscious yet exp
Slide 40: Super-Premium to Luxury
Super-Premium to Luxury Zoya Gin Zoya Gin Flavours Category: Gin Category: Gin Strengthening the footprint in Super-Premium Segment Expanding our Gin Flavour Portfolio • 1st non whisky Super Premium brand launched in high growth, • Three new flavors - Watermelon Gin, Espresso Coffee high margin cate
Slide 41: Super-Premium to Luxury
Super-Premium to Luxury Arthaus Collective Woodburns Whisky Category: Whisky Category: Whisky Entry into Luxury Segment Expansion into Super-Premium Whisky Segment • Blended Malt Scotch whisky - crafted from a blend of Single Malts • Expanded into Super-Premium Whisky category through from Speyside
Slide 42: Super-Premium to Luxury
Super-Premium to Luxury Russian Standard Vodka Rangeela Vodka Category: Vodka Category: Vodka Entry into Luxury Vodka Segment Addition to Luxury Vodka Segment • Introduced the world's No. 1 Russian Premium Vodka to India • Introduced Rangeela Contemporary Indian Vodka as a homegrown brand within the
Slide 43: Consolidated Annual Financial Summary
Consolidated Annual Financial Summary Gross Margin (₹ Cr) EBITDA (₹ Cr) Income from Operations (₹ Cr) Net Profit (₹ Cr) Gross Margin (%) EBITDA Margin (%) 568 1,788 220 3,949 195 1,481 451 3,541 3,334 3,158 1,230 45.6% 1,173 2,697 1,057 14.4% 42.1% 248 208 12.7% 196 39.4% 37.3% 37.0% 7.7% 7.5% 6.2%
Slide 44: 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
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