Associated Alcohols & Breweries Ltd. — PPTs, 26-07-2026: Investor Presentation

Associated Alcohols & Breweries (AABL) reported Q1FY27 net revenue of Rs 280.9 Cr (+5% YoY) with PAT at Rs 17.8 Cr (6% margin) and Basic EPS of Rs 8.88. The IMFL Proprietary segment was a growth driver, with revenue up 58% YoY and CP Series volumes surging 260%. However, overall EBITDA fell 20% to Rs 29.9 Cr (11% margin) as IMFL licensed volumes declined due to business changes, and the Ethanol segment faced a topline and margin decline from oversupply, which is expected to continue this fiscal.

The company is focusing on IMFL Proprietary brands, targeting 25-30% CAGR revenue growth over the next 4-5 years through premiumization and pan-India expansion. This includes planned Tequila and Premium Brandy launches in Q2FY27 and entry into Karnataka after recently expanding into Odisha.

AABL recently launched Kultur RTD in Madhya Pradesh and plans to roll it out in 8 more states. The acquisition of SDF Industries in Kerala for Rs 30.85 Cr is expected to be operational by December 2026, enhancing bottling capacity and strengthening its presence in the Kerala market, where it targets 2 Mn cases in FY27.

AABL maintains a robust balance sheet with Net Debt/Equity at -0.09x and Interest Coverage of 23x (FY26). Future capex of approximately Rs 65 Cr for casks, bottling automation, and SDF Industries is expected to be funded through internal accruals as management aims for AABL to become a top 10 IMFL player in India.