Allied Blenders and Distillers (ABDL) Q1 26/27 earnings summary

Executive summary

• Q1FY27 income from operations rose 5.8% year-over-year to ₹984 Cr, driven by volume growth in Prestige & Above (P&A) and Mass Premium segments.

• Consolidated revenue from operations for Q1 FY27 was ₹180,915.26 lakhs, up from ₹177,637.01 lakhs in Q1 FY26.

• Gross margin expanded by 277 bps year-over-year, supported by favorable input costs and backward integration, despite global supply chain disruptions.

• EBITDA margin moderated by 55 bps to 12.2% due to increased investments in people, brands, and luxury portfolio.

• The Board approved and completed the acquisition of UTO Asia Pte. Ltd. and Kion Blenders Industries Private Limited, expanding the Group's international and domestic footprint.

Financial highlights

• Income from operations: ₹984 Cr in Q1FY27 vs ₹930 Cr in Q1FY26 (+5.8% YoY).

• EBITDA: ₹120 Cr in Q1FY27 vs ₹119 Cr in Q1FY26 (+1.2% YoY); PAT: ₹45 Cr vs ₹56 Cr (-18.7% YoY).

• Total income for Q1 FY27 was ₹181,379.48 lakhs, compared to ₹178,345.91 lakhs in Q1 FY26.

• Like-to-like (LTL) EBITDA, excluding ₹24 Cr supply chain impact: ₹144 Cr (+21.4% YoY), LTL EBITDA margin 14.7% (+189 bps), LTL PAT ₹63 Cr (+13.6% YoY).

• Operating cash flow: ₹174 Cr in Q1FY27.

Outlook and guidance

• Revenue growth in mid-teens expected, underpinned by increasing P&A contribution (~50% by volume by FY28).

• EBITDA margin targeted at ~18% by FY28, with ROCE expected to rise from 18.5% (FY26) to 23–25% by FY28.

• Strategic investments in supply chain and backward integration to enhance margins by ~300 bps by FY28 and incremental ~100 bps by FY29.

• UK FTA anticipated to be margin accretive, improving luxury portfolio accessibility.

• The Group continues to focus on operational efficiency and expansion through acquisitions.