Allied Blenders and Distillers Limited · NSE:ABDL
Allied Blenders and Distillers — H1 FY27 Earnings Presentation
47 slides from Allied Blenders and Distillers's earnings presentation, Oct 27, 2026
Slide 1: Stock exchange intimation letter for Q2 and H1FY27 earnings presentation
October 27, 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. 87/ 2026-27 Sub: Regulation 30 of
Slide 2: Q2 and H1 FY27 Earnings Presentation
Q2 and H1 FY27 Earnings Presentation Oct 2026 (BSE: 544203 | NSE: ABDL)
Slide 3: THE INDIAN EDIT premium whisky
THE INDIAN EDIT is a premium whisky born from the spirit of modern India - rooted in heritage yet fearlessly reimagined for a new generation. Born of superior Indian grains. Elevated with Scotch malts. Raised as THE INDIAN. The Scotch malts impart notes of vanilla, caramel, and gentle oak while the
Slide 4: Agenda
Agenda 1 ABD Overview 4 2 Investment Case 5 3 Performance Highlights 6 4 ABD Maestro Update 14 5 Management Perspectives 21 6 Future Ready Transformation 28 7 Financial Statements 33 8 Key Brand Portfolio Overview 37 9 5 Year Consolidated Financial Summary 45 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 • 3rd 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 (P&A) brand portfolio well positioned for high growth consumer market trajectory • Expanded portfolio from Mass Premium to Super-Premium and • Driving aggregated market share in P&A whisky categ
Slide 7: Consolidated Q2FY27 Highlights YoY
Consolidated Q2FY27 Highlights YoY ABD Delivers Strong Topline Growth in Q2FY27 • Topline driven by volume growth across portfolio Income from Operations EBITDA ₹ 1,152 Cr ₹ 143 Cr • Reported Highest Ever Quarterly Sales Volumes of 10.0 million cases in Q2FY27 driven by growth across all 4 millionai
Slide 8: Consolidated H1FY27 Highlights YoY
Consolidated H1FY27 Highlights YoY Delivers Strong Topline Performance Total Volume Total Realization Income from Operations (Mn Cases) (Per Case) 19.1 ₹ 1,060 ₹ 2,135 Cr +8.7% YoY +3.0% YoY +10.9% YoY Sales Contribution Volume Contribution EBITDA ₹ 263 Cr +5.8% YoY H1 H1 46.5% 57.8% FY27 42.2% FY27
Slide 9: Consolidated Quarterly Performance Trend
Consolidated Quarterly Performance Trend Income from Operations (₹ Cr) EBITDA (₹ Cr) 15.8% 10.0% Topline growth: • Volume growth driven across the portfolio with growth across all 4 millionaire brands on q-o-q basis 1,152 995 984 143 • Increase in realisation per case driven by 130 premiumisation an
Slide 10: Q2FY27 Brand Portfolio Highlights
Q2FY27 Brand Portfolio Highlights Sales (₹ Cr) Q2FY27 Q1FY27 Q-o-Q Q2FY26 Y-o-Y Sales Contribution P&A 605 563 7.5% 533 13.4% Q2FY26 Q2FY27 56.4% Mass Premium & Others 468 386 21.1% 403 15.9% 56.9% Total Sales 1,073 949 13.0% 937 14.5% Others 79 35 127.8% 58 36.6% 43.6% 43.1% Income from Operations
Slide 11: H1FY27 Brand Portfolio Highlights
H1FY27 Brand Portfolio Highlights Sales (₹ Cr) H1FY27 H1FY26 Y-o-Y Sales Contribution P&A 1,168 1,018 14.7% H1FY26 H1FY27 Mass Premium & Others 854 788 8.3% Total Sales 2,021 1,806 11.9% 42.2% 56.4% 43.6% 57.8% Others 114 119 -3.7% Income from Operations 2,135 1,925 10.9% P&A Mass Premium & Others V
Slide 12: Global Ambition: Expanding Our Export Footprint
Global Ambition: Expanding Our Export Footprint Overview • Asset light high profit export model • Profitability ~1.3x of domestic Russia • Working capital ~1/3rd of domestic Canada • Expanded reach from 36 to 42 countries in Ukraine H1FY27 Spain USA Portugal Italy • Maintain market share in GCC Leba
Slide 13: Officer's Choice Blue Relaunched with Premium Packaging
Officer’s Choice Blue: Relaunched with Premium Packaging and a Refreshed Identity A New Chapter for a Trusted Whisky Brand with ‘Badal Ke Toh Dekho’ Strategic Significance: • Elevating the consumer experience in the P&A segment through premium packaging and a refreshed identity • Responds to the evo
Slide 14: The Indian Edit: A Premium Whisky Celebrating Modern Indian Identity
The Indian Edit: A Premium Whisky Celebrating Modern Indian Identity Strengthening ABD’s Premium Whisky Portfolio Strategic Significance: • Expands ABD’s premium whisky portfolio • Positioned for the contemporary, global Indian consumer, celebrating Indian roots and a modern outlook • Addresses the
Slide 15: ABD Maestro Update
—_ ABD Maestro Update man | ARTMAUS |¢SQPa |e | ME. | magne | 8, | FR | apa | Cae
Slide 16: ABD Maestro: Unlocking the Luxury Opportunity
ABD Maestro: Unlocking the Luxury Opportunity Through Product Portfolio Approach Market Positioning Whisky Gin Portfolio with unique flavour price points through ‘Build, Buy & Partner’ Model* Enhanced consumer experience through unique blending and craftsmanship Leverage star power & creative vision
Slide 17: ABD Maestro: Accelerated Presence in First Year
ABD Maestro: Unlocking the Luxury Opportunity Through Product Portfolio Approach Established Accelerated Presence within the First Year of Operations Expanding Presence Expanding Portfolio Manufacturing Readiness Readiness Manufacturing ~80% • Differentiated luxury portfolio • 3 Strategically locate
Slide 18: Bar Maestro: Pan-India Bartenders' Championship
Bar Maestro: Pan-India Multi-City Bartenders’ Championship ABD Maestro Celebrates Craftsmanship and Elevates India's Cocktail Community About the Championship Cocktail Entries & Winners Overview ABD Maestro’s National 68.4M+ Bartending Platform Impressions Created to showcase India’s rising mixology
Slide 19: ABD Maestro as Celebration Partner
ABD Maestro as Celebration Partner Strategic Sponsorships Strengthen ABD Maestro's Brand Visibility Grazia Indie Beauty Superstars 2026 India Today Woman Summit 2026 Fortune India 40 Under 40 2026 BMW X1 Long Wheelbase Launch Delicious Dining Award 2026 Manifest ‘Wed In India’ 2026 18
Slide 20: Awards & Global Recognitions
Awards & Global Recognitions A Testament to ABD’s Excellence South Asia Sabre Awards Spiritz Conclave & Achievers’ Awards • Recognised in blind tasting categories at Spiritz • Recognised for Excellence Awards at Spiritz Conclave & Achiever’s Awards: Conclave & Achiever’s Awards 2026 ▪ RANGEELA recei
Slide 21: Improving Operating Cashflows & Disciplined Capital Deployment
Improving Operating Cashflows & Disciplined Capital Deployment Improving Operating Cashflows (OCF) and Financial KPIs • Generated OCF (₹269 Cr in H1 FY27) driven by ₹ Cr 215 269 profitability and sustained working capital discipline 147 51 • Ongoing EBITDA accretive capex program funded by internal
Slide 22: Management Perspectives
Management Perspectives • Q2FY27 marked an important milestone for ABD, with quarterly volumes crossing 10 million cases for the first time ever, supported by growth across segments and growth in all 4 millionaire brands on sequential basis Portfolio Premiumisation Led Growth • Mass Premium & Others
Slide 23: Portfolio In Place Across Growth Categories
Portfolio In Place Across Growth Categories 5500 5,300 5000 Mass Prestige & Semi-Premium Premium Super-Premium to Luxury 5,200 Premium & Others 4500 3,950 Russian Standard 4000 3,200 Platinum Arthaus Vodka Blended Malt MRP 750 ml SKU (₹) 3,200 Whisky 3500 3,200 Aodh Irish 3000 2,700 Whiskey 2,650 Pu
Slide 24: Portfolio Build Up: Increasing P&A Play
Portfolio Build Up: Increasing P&A Play while Retaining Market Leadership in Mass Premium Segments Strategy Maintain market leadership with increasing market share in whisky category Mass Premium & Others Expand market share in brandy category Prestige & Semi-Premium Accelerate aggregate market shar
Slide 25: Route to Margin Enhancement
Route to Margin Enhancement Margin Enhancement Structural Margin Backward FTA Growth & Cost Drivers Integration Benefits Premiumization Efficiencies Strategic Invest in existing brands to drive growth, to establish Super-Premium to Luxury brands and in people Investments External Input & operating c
Slide 26: Capex Program: Driving Efficiency, Security and Returns
Capex Program: Driving Efficiency, Security and Returns Value Accretive Capex Program Financial Benefits 1. Multi year capex program focused on key markets: 1. Enhance EBITDA Margins# by • Deepening backward integration • ~300 bps by FY28 • Strengthening supply chain security • Incremental ~150 bps
Slide 27: Capex Program: Compelling Strategic Rationale
Capex Program: Compelling Strategic Rationale PET Bottle Manufacturing 600 Mn bottles PA Malt Distillery 4.0 MLPA Rangapur, Rangapur Project Commissioned in Sept-25 Telangana Project Commissioned in Oct-26 Telangana • Investment: ₹115 Cr • Investment: ₹75 Cr • Secures 70–75% of total PET packaging r
Slide 28: Capex Program: Compelling Strategic Rationale
Capex Program: Compelling Strategic Rationale Assets Acquisition1 and Upgradation of Expansion of Bottling Capacity & Dual Mode Distillery1 66 MLPA Bottling Unit Refurbishment of the Molasses Distillery1 Moradabad, Moradabad, Moradabad, Project Commissioned in Oct-26 Q3 FY28 Uttar Pradesh Q1 FY29 Ut
Slide 29: Transformation Roadmap
Transformation Roadmap Value Accretive Profitable Growth Where were we? Where are we now? Way forward Initiative FY24 FY26 H1FY27 FY28 Revenue growth (YoY) 5.6% 5.6% 11.5% 10.9% Revenue growth in mid-teens Topline growth with P&A Salience (Volume) 37.3% 37.3% 47.2% 46.5% ~50% Portfolio Build - up Su
Slide 30: Strategically Positioned Production Facilities
Strategically Positioned Production Facilities 4 Moradabad, UP* • Company announced acquisition of distillery Distilleries (4) cum bottling facility* • Setting up 66 MLPA dual-mode distillery 1. Aurangabad: 11 MLPA + 50 MLPA* expected to be commissioned by Q1 FY29 2. Moradabad: 66 MLPA* (Dual-mode)
Slide 31: Distribution Depth That Enables Premium Scale
Distribution Depth That Enables Premium Scale 30+ Unique Proposition States and UTs Expertise in tariffs, distribution, and cost structures across diverse Route-To-Market 80,000+ channels: Retail Reach Punjab • Open Market Chandigarh Haryana • Government Market / Corporation Market 12 Delhi Sales Su
Slide 32: 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 33: Senior Management Team
Senior Management Team: Industry and Multi Sector Experience Amar Sinha Ramakrishnan Ramaswamy Monish Bhasin Managing Director Chief Financial Officer Chief Revenue Officer Joined ABD In 2026, work experience +30 years Associated with ABD 14+ years, work Joined ABD In 2026, work experience ~28 years
Slide 34: Consolidated Income Statement
Consolidated Income Statement ₹ Cr Q2 FY27 Q1 FY27 Q-o-Q Q2 FY26 Y-o-Y H1FY27 H1FY26 Y-o-Y Total Income 2,089 1,814 15.2% 1,957 6.7% 3,903 3,741 4.3% Excise Duty 938 830 12.9% 963 -2.6% 1,768 1,816 -2.7% Income from Operations 1,152 984 17.1% 995 15.8% 2,135 1,925 10.9% Cost of Goods Sold 627 529 18
Slide 35: Consolidated Balance Sheet
Consolidated Balance Sheet ₹ Cr H1FY27 FY26 ₹ Cr H1FY27 FY26 ASSETS Equity And Liabilities Non-Current Assets Equity Property, Plant & Equipment 625 638 Share Capital 56 56 Capital Work in Progress 330 109 Rights of Use Assets 117 116 Other Equity 1,586 1,607 Goodwill 17 17 Non Controlling Interests
Slide 36: Consolidated Cashflows
Consolidated Cashflows ₹ Cr H1FY27 H1FY26 Cash Flow From Operating Activities 269 147 Cash Flow from Investing Activities -350 -106 Cash Flow From Financing Activities 33 -8 Net Increase in Cash and Cash Equivalent -48 33 Cash and Cash Equivalents at Beginning of the Period 129 88 Cash and Cash Equi
Slide 37: 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 38: Key Brand Portfolio Overview
Key Brand Portfolio Overview Officer’s Choice Officer’s ICONiQ Golden Mist Sterling Srishti Kyron Sterling The Indian Rangeela Zoya Gin Yello Woodburns Segredo Pumori Aodh Arthaus Blended Russian Whisky Choice Blue White Brandy Reserve B7 Whisky Brandy Reserve B10 Edit Whisky Vodka Designer Whisky A
Slide 39: 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 40: 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 41: 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 42: Prestige and Premium
Prestige and Premium Srishti Select Collection Kyron Premium Category: Whisky (Premium) Category: Brandy (Premium) Crafted to elevate the everyday whisky experience Uniquely Positioned in High Margin Premium Brandy Segment • Srishti is an Indian whisky infused with India’s golden saffron (Curcumin)—
Slide 43: 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 44: 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 45: 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 46: 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 47: 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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