Allied Blenders and Distillers Limited — Credit Ratings, 21-07-2025: Credit Rating- New

Allied Blenders and Distillers' (ABDL) bank facilities have been upgraded to 'IND A' from 'IND A-', now with a Positive Outlook. This boost reflects ABDL's solid FY25 financial performance: strong operational growth, significantly improved EBITDAR margins from premium brands, and net leverage dropping below 2.0x. The Positive Outlook points to even better profitability ahead, driven by ongoing backward integration capex. This higher rating should translate to lower borrowing costs and greater investor trust, giving ABDL more strategic flexibility for future growth and brand investments, including new limits of INR 194 Cr and capex of approximately INR 340 Cr.