Allied Blenders & Distillers Ltd
ABDL NSE
Allied Blenders & Distillers Ltd
Fast Moving Consumer GoodsNSE: ABDL BSE: 544203 Beverages
Key Fundamentals
SmallcapBreweries & DistilleriesBeveragesMarket Cap
₹17,131 Cr
Volatility
Moderate
P/E Ratio
77.54
EBITDA
₹568 Cr
Return on Equity
13.06%
Debt to Equity
0.69
Book Value
₹59.44
EPS
₹0.7
52W High
₹711.7
52W Low
₹382.1
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Allied Blenders & Distillers Ltd insights
52 extracted metrics + investor summaries across FY09–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has delivered good profit growth of 147% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 39.3%
Weaknesses
3- Stock is trading at 10.3 times its book value
- The company has delivered a poor sales growth of 10.8% over past five years.
- Company has high debtors of 168 days.
Growth Rate
Revenue Growth
11.52% ↗
Net Income Growth
12.99% ↘
Cash Flow Change
153.35% ↗
ROE
4.73% ↘
ROCE
6.03% ↗
EBITDA Margin (Avg.)
12.78% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
Allied Blenders & Distillers (ABDL), owner of Officer's Choice — one of the world's largest-selling spirit brands — trades at a PE of 81.9x and 10.3x book value on a market cap of ₹17,536 Cr. The company delivered 147% profit CAGR over five years and expanded gross margins to 42.1% in FY25, but revenue growth has been modest at ~8% TTM with high debtor days of 168.
Bull Case 8
- Owns Officer's Choice whisky, which held ~11.8% volume market share in the Indian whisky market (FY23) and was once the world's largest-selling spirit brand
- Compounded profit growth of 147% CAGR over the last 5 years, reflecting a significant earnings inflection
- Gross margin expanded 512 bps YoY to 42.1% in FY25, with Q4 FY25 gross margin reaching 43.4%, driven by premiumization and cost efficiencies
- EBITDA grew 81.7% in FY25 with EBITDA margin expanding from ~12.7% to 14.4% in FY26, with management guiding for a further 300 bps expansion by FY28
- Healthy dividend payout ratio of 39.3%, unusual for a growth-stage consumer company at this valuation
- FY26 revenue grew 11.45% YoY to ₹39,228 Mn, showing acceleration from 5.77% growth in FY25
- Net debt-to-equity at 0.6x and net debt-to-EBITDA at 1.7x indicates manageable leverage with headroom for capex
- India's spirits market benefits from structural tailwinds — rising disposable incomes, young demographics, and premiumization trends across the IMFL category
Bear Case 8
- Stock trades at 81.9x PE, a steep premium that prices in aggressive future growth and leaves little margin of safety
- Trading at 10.3x price-to-book, significantly above sector averages, implying rich expectations already embedded in price
- High debtor days of 168 indicate significant working capital tied up in receivables, a liquidity and credit risk
- Top-line growth has been modest — compounded sales growth of only 10.8% over the past 5 years and 8% TTM
- TTM profit declined 7%, indicating recent earnings pressure despite the longer-term growth trajectory
- Heavy reliance on the popular/value segment (Officer's Choice) exposes the company to regulatory price caps and thin margins in state-controlled markets
- ROCE of ~24.6% is decent but must be sustained to justify the current valuation multiple; ROE has averaged only 11% over 5 years
- Indian alcohol sector faces regulatory headwinds including state-level prohibition risks, excise duty hikes, and advertising restrictions
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 5h ago Positives 4
- Q1FY27 profit up 11.8% Jul 23
Standalone net profit rose 11.8% to ₹6,818.97 lakhs for Q1FY27, driven by stable revenue growth and lower finance costs.
- NCLT sanctions merger Aug 3
NCLT Hyderabad Bench sanctioned merger of two wholly owned subsidiaries into ABDL, effective April 1, 2025. Certified copy received August 3, 2026.
- ₹1,000 Cr investment plan Jul 31
Company announced ₹1,000 Cr investment to strengthen premium offerings, targeting ₹5,500 Cr revenue by FY28 through premiumisation strategy.
- New Group CMO appointed Jul 23
Bikram Basu appointed as Group Chief Marketing and Innovation Officer effective August 1, 2026, signaling renewed focus on brand-building and innovation.
Neutral 2
- Q1FY27 investor meet Aug 12 Aug 5
Allied Blenders will host an investor conference on August 12, 2026, in Mumbai to discuss Q1FY27 earnings. No UPSI expected.
- Q1FY27 earnings call held Jul 26
Company conducted its Q1FY27 earnings conference call on July 24, 2026, covering audited standalone and consolidated results for quarter ended June 30, 2026.
TL;DR: Allied Blenders is executing well with 11.8% profit growth in Q1FY27 and a clear premiumisation roadmap targeting ₹5,500 Cr revenue by FY28. The NCLT-approved merger simplifies corporate structure. No material headwinds are visible in recent news flow. The trend is improving, with earnings momentum and strategic investments pointing to sustained growth if premium mix gains traction.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 814 | 851 | 895 | 768 | 758 | 868 | 974 | 921 | 923 | 990 | 1,003 | 1,007 | 979 |
| Expenses | 762 | 780 | 836 | 708 | 683 | 764 | 857 | 785 | 811 | 865 | 867 | 838 | 863 |
| Operating Profit | 52 | 71 | 59 | 60 | 74 | 103 | 117 | 136 | 112 | 125 | 136 | 169 | 115 |
| OPM % | 6% | 8% | 7% | 8% | 10% | 12% | 12% | 15% | 12% | 13% | 14% | 17% | 12% |
| Other Income | 1 | 1 | -2 | 2 | 2 | 2 | 3 | 14 | 7 | 5 | -2 | 13 | 5 |
| Interest | 39 | 43 | 46 | 45 | 44 | 25 | 27 | 28 | 27 | 30 | 26 | 51 | 29 |
| Depreciation | 13 | 12 | 14 | 19 | 16 | 16 | 13 | 16 | 16 | 16 | 18 | 29 | 23 |
| PBT | 1 | 16 | -3 | -1 | 16 | 64 | 80 | 106 | 76 | 84 | 89 | 103 | 68 |
| Tax % | 286% | 29% | 33% | 70% | 28% | 26% | 28% | 26% | 26% | 25% | 28% | 63% | 33% |
| Net Profit | -3 | 11 | -4 | -2 | 11 | 48 | 57 | 79 | 56 | 63 | 64 | 38 | 45 |
| EPS in Rs | -0.11 | 0.46 | -0.18 | -0.1 | 0.4 | 1.7 | 2.05 | 2.81 | 2.02 | 2.3 | 2.38 | 1.46 | 1.76 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,996 | 2,348 | 2,686 | 3,147 | 3,328 | 3,520 | 3,923 | 3,979 |
| Expenses | 2,762 | 2,154 | 2,488 | 2,961 | 3,085 | 3,089 | 3,380 | 3,433 |
| Operating Profit | 234 | 195 | 197 | 186 | 243 | 431 | 542 | 546 |
| OPM % | 8% | 8% | 7% | 6% | 7% | 12% | 14% | 14% |
| Other Income | 16 | 19 | 11 | 11 | 1 | 21 | 23 | 21 |
| Interest | 180 | 142 | 146 | 136 | 173 | 126 | 135 | 137 |
| Depreciation | 69 | 59 | 59 | 55 | 58 | 61 | 79 | 86 |
| PBT | 0 | 13 | 4 | 6 | 13 | 266 | 351 | 343 |
| Tax % | -2948% | 80% | 62% | 73% | 86% | 27% | 37% | — |
| Net Profit | 13 | 3 | 1 | 2 | 2 | 195 | 220 | 210 |
| EPS in Rs | 0.54 | 0.11 | 0.06 | 0.07 | 0.07 | 6.97 | 8.16 | 7.9 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 52% | 66% | — |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 47 | 47 | 47 | 49 | 49 | 56 | 56 |
| Reserves | 326 | 328 | 357 | 357 | 358 | 1,487 | 1,607 |
| Borrowings | 1,058 | 981 | 863 | 793 | 835 | 905 | 1,151 |
| Other Liabilities | 983 | 952 | 988 | 1,301 | 1,403 | 1,086 | 1,350 |
| Total Liabilities | 2,414 | 2,308 | 2,255 | 2,500 | 2,645 | 3,534 | 4,163 |
| Fixed Assets | 636 | 649 | 692 | 575 | 635 | 749 | 889 |
| CWIP | 48 | 17 | 15 | 14 | 16 | 19 | 110 |
| Investments | 0 | 22 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 1,730 | 1,620 | 1,548 | 1,910 | 1,995 | 2,765 | 3,164 |
| Total Assets | 2,414 | 2,308 | 2,255 | 2,500 | 2,645 | 3,534 | 4,163 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | 595 | 247 | 179 | 230 | 186 | -678 | 362 |
| Investing | -45 | -59 | 53 | -19 | -54 | -182 | -331 |
| Financing | -496 | -216 | -256 | -203 | -132 | 922 | 10 |
| Net Cash Flow | 53 | -29 | -24 | 8 | 0 | 61 | 41 |
| Free Cash Flow | 548 | 212 | 124 | 210 | 141 | -806 | 16 |
| CFO/OP | 255 | 128 | 93 | 126 | 80 | -141 | 94 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 114 | 135 | 130 | 111 | 136 | 181 | 168 |
| Inventory Days | 151 | 196 | 153 | 190 | 124 | 196 | 221 |
| Days Payable | 172 | 267 | 228 | 189 | 204 | 206 | 235 |
| Cash Conversion Cycle | 93 | 64 | 54 | 113 | 57 | 172 | 154 |
| Working Capital Days | -39 | -52 | -30 | -18 | -20 | 67 | 55 |
| ROCE % | — | 11% | 11% | 12% | 16% | 21% | 18% |
Documents
1
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
7h - Conference call on 15 May 2026 at 3:00 PM IST to discuss 4QFY26 earnings. 7h - Conference call on 15 May 2026 at 3:00 PM IST to discuss 4QFY26 earnings.
2
Board Meeting Intimation for Audited Standalone & Consolidated Financial Results, Recommendation Of Dividend And Revalidation Of The Approval Obtained At 17Th AGM Held On July 08, 2025, For Raising Of Funds.
7 May - Board meeting on May 14, 2026 to approve FY26 results, consider dividend, and revalidate fundraise approval. 7 May - Board meeting on May 14, 2026 to approve FY26 results, consider dividend, and revalidate fundraise approval.
3
Announcement under Regulation 30 (LODR)-Press Release / Media Release
29 Apr - ABD Maestro won three gold medals at London Spirits Competition 2026, with several other brand awards. 29 Apr - ABD Maestro won three gold medals at London Spirits Competition 2026, with several other brand awards.
4
LOI- Andhra Pradesh
6 May - Andhra Pradesh revived LOI until 26-Sep-2028 for 46.5 lakh-case greenfield IMFL bottling plant. 6 May - Andhra Pradesh revived LOI until 26-Sep-2028 for 46.5 lakh-case greenfield IMFL bottling plant.
5
Announcement under Regulation 30 (LODR)-Press Release / Media Release
5 May - Rangapur manufacturing facility won Telangana's Best Factory Award on May 1, 2026. 5 May - Rangapur manufacturing facility won Telangana's Best Factory Award on May 1, 2026.
Frequently Asked Questions about Allied Blenders & Distillers Ltd
What does Allied Blenders & Distillers Ltd do?
Incorporated in 2008, Allied Blenders and Distillers Ltd manufactures, purchase and sells Alcoholic Beverages /liquids[1]
Where is Allied Blenders & Distillers Ltd (ABDL) listed?
Allied Blenders & Distillers Ltd is listed on the Indian stock exchanges. It is listed on NSE: ABDL and BSE: 544203. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Allied Blenders & Distillers Ltd belong to?
Allied Blenders & Distillers Ltd operates in the Fast Moving Consumer Goods sector within the Beverages industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Allied Blenders & Distillers Ltd?
Allied Blenders & Distillers Ltd has a market capitalisation of approximately ₹17130.85 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Allied Blenders & Distillers Ltd?
The Price-to-Earnings (PE) ratio of Allied Blenders & Distillers Ltd is 77.54. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Allied Blenders & Distillers Ltd?
Over the past 52 weeks, Allied Blenders & Distillers Ltd has traded between a low of ₹382.1 and a high of ₹711.7. This range helps investors understand the stock's price volatility and recent trading levels.
Does Allied Blenders & Distillers Ltd pay dividends?
Yes, Allied Blenders & Distillers Ltd has a dividend yield of 0.88%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Allied Blenders & Distillers Ltd?
Allied Blenders & Distillers Ltd has a Return on Equity (ROE) of 13.06%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Allied Blenders & Distillers Ltd on Tapetide?
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Company Information
Incorporated in 2008, Allied Blenders and Distillers Ltd manufactures, purchase and sells Alcoholic Beverages /liquids[1]
Website abdindia.com
CEO Mr. Alok Gupta
Employees 902
Listed 2024-07-02
Face Value ₹ 2
Issued Size 27,97,10,151