Allied Blenders & Distillers Ltd
Allied Blenders & Distillers Ltd
Fast Moving Consumer GoodsKey Fundamentals
SmallcapBreweries & DistilleriesBeveragesTechnical 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 10.6 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
AI Analysis — Bull vs Bear
Allied Blenders & Distillers commands unanimous analyst consensus (100% Buy from 10 analysts) and has delivered exceptional profit CAGR of 147% over 5 years. However, the stock trades at a steep PE of 80.4x and PB of 10.65x, with sluggish sales growth of just 11% over 5 years, warranting caution on entry price.
- Unanimous analyst consensus with 100% Buy ratings from all 10 analysts covering the stock
- Exceptional compounded profit growth of 147% CAGR over the last 5 years demonstrates strong earnings trajectory
- Stock has delivered 49% returns over the past 1 year, significantly outperforming broader market indices
- Healthy dividend payout ratio of 39.3% signals management confidence and shareholder-friendly capital allocation
- TTM profit growth of 18% shows continued earnings momentum even on a higher base
- 3-year ROE of 14% indicates reasonable capital efficiency for an FMCG-spirits company
- Market cap of Rs 17,781 Cr provides adequate liquidity and institutional participation
- Dividend yield of 0.85% offers modest income cushion in a high-growth FMCG name
- PE ratio of 80.4x is extremely elevated even by FMCG standards, leaving limited margin of safety
- Price-to-book of 10.65x indicates the stock is trading at a steep premium to its asset base
- Compounded sales growth of just 11% over 5 years is poor for a company commanding such premium valuations
- High debtor days of 168 indicates significant working capital stress and potential collection risk
- 3-year compounded sales growth of only 8% shows a decelerating top-line trajectory
- ROE and ROCE data not fully available, limiting visibility into long-term return efficiency
- Debt-to-equity ratio unavailable suggests potential opacity in leverage position for investors
- 52-week high and low data unavailable makes technical risk assessment difficult
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ₹25.5 Cr arbitration claim Jun 7
Balaji Pawar filed a ₹25.5 crore arbitration claim against ABDL. The company disputes the claim and plans to file a counter-claim.
- Record EBITDA ₹568 Cr in FY26 Jun 12
ABDL reported record consolidated EBITDA of ₹568 Crores (+25.8% YoY) and PAT of ₹220 Crores (+13% YoY) in its FY26 Annual Report.
- ICONiQ White fastest-growing whisky Jun 11
ICONiQ White named world's fastest-growing millionaire whisky brand for the third consecutive year. Officer's Choice ranks No. 3 globally.
- Final dividend ₹0.40 per share Jun 9
Record date fixed as June 26, 2026 for a final dividend of ₹0.40 per share. 18th AGM scheduled for July 6, 2026.
- New CRO from July 1 Jun 18
Monish Bhasin appointed Chief Revenue Officer effective July 1, 2026, replacing Manoj Kumar Rai who resigns June 30, 2026.
- New MD Amar Sinha appointed Jun 5
Amar Sinha appointed Managing Director for three years from June 1, 2026, replacing Alok Gupta who stepped down May 31, 2026.
- Maiden BRSR filed for FY26 Jun 12
ABDL filed its first Business Responsibility and Sustainability Report for FY26, detailing ESG initiatives, waste management, and zero liquid discharge.
TL;DR: ABDL delivered a strong FY26 with record EBITDA (+25.8% YoY) and growing brand recognition globally for ICONiQ White and Officer's Choice. Key leadership transitions at MD and CRO levels signal organizational reset, while a minor ₹25.5 Cr arbitration claim poses limited financial risk. The earnings momentum and brand strength suggest an improving trajectory, though new management will need to maintain execution consistency.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 771 | 814 | 851 | 895 | 768 | 758 | 868 | 974 | 921 | 923 | 990 | 1,003 | 1,007 |
| Expenses | 721 | 762 | 780 | 836 | 708 | 683 | 764 | 857 | 785 | 811 | 865 | 867 | 838 |
| Operating Profit | 50 | 52 | 71 | 59 | 60 | 74 | 103 | 117 | 136 | 112 | 125 | 136 | 169 |
| OPM % | 6% | 6% | 8% | 7% | 8% | 10% | 12% | 12% | 15% | 12% | 13% | 14% | 17% |
| Other Income | 1 | 1 | 1 | -2 | 2 | 2 | 2 | 3 | 14 | 7 | 5 | -2 | 13 |
| Interest | 37 | 39 | 43 | 46 | 45 | 44 | 25 | 27 | 28 | 27 | 30 | 26 | 51 |
| Depreciation | 14 | 13 | 12 | 14 | 19 | 16 | 16 | 13 | 16 | 16 | 16 | 18 | 29 |
| PBT | 0 | 1 | 16 | -3 | -1 | 16 | 64 | 80 | 106 | 76 | 84 | 89 | 103 |
| Tax % | 753% | 286% | 29% | 33% | 70% | 28% | 26% | 28% | 26% | 26% | 25% | 28% | 63% |
| Net Profit | -1 | -3 | 11 | -4 | -2 | 11 | 48 | 57 | 79 | 56 | 63 | 64 | 38 |
| EPS in Rs | -0.05 | -0.11 | 0.46 | -0.18 | -0.1 | 0.4 | 1.7 | 2.05 | 2.81 | 2.02 | 2.3 | 2.38 | 1.46 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 2,996 | 2,348 | 2,686 | 3,147 | 3,328 | 3,520 | 3,923 |
| Expenses | 2,762 | 2,154 | 2,488 | 2,961 | 3,085 | 3,089 | 3,380 |
| Operating Profit | 234 | 195 | 197 | 186 | 243 | 431 | 542 |
| OPM % | 8% | 8% | 7% | 6% | 7% | 12% | 14% |
| Other Income | 16 | 19 | 11 | 11 | 1 | 21 | 23 |
| Interest | 180 | 142 | 146 | 136 | 173 | 126 | 135 |
| Depreciation | 69 | 59 | 59 | 55 | 58 | 61 | 79 |
| PBT | 0 | 13 | 4 | 6 | 13 | 266 | 351 |
| Tax % | -2948% | 80% | 62% | 73% | 86% | 27% | 37% |
| Net Profit | 13 | 3 | 1 | 2 | 2 | 195 | 220 |
| EPS in Rs | 0.54 | 0.11 | 0.06 | 0.07 | 0.07 | 6.97 | 8.16 |
| 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
Frequently Asked Questions about Allied Blenders & Distillers Ltd
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Company Information
Incorporated in 2008, Allied Blenders and Distillers Ltd manufactures, purchase and sells Alcoholic Beverages /liquids[1]