Allied Blenders & Distillers Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call analysis: revenue, margin, capex, fundraise and order book outlook from management commentary.

Published 6 Aug 2026 | Beverages | Market Cap: ₹17.2K Cr

ABD Maestro currently has an annual run rate (ARR) of about Rs. ABD's Prestige & Above (P&A) segment showing strong growth with 8.3% QoQ and 28.8% YoY volume increase, expanding P&A salience to 47.1% from 39.7% in Q2 FY '25, indicating premiumization driving earnings growth. - ICONiQ White doubling volume organically and increasing market share, signaling robust top-line and profitability growth for the brand. - ABD Maestro's ARR at Rs.

From Allied Blenders & Distillers Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹595

Market Cap

₹17.2K Cr

P/E Ratio

77.0

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Allied Blenders & Distillers Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.0K Cr, net profit ₹38 Cr.

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📊 Revenue & Sales Performance

→ABD Maestro currently has an annual run rate (ARR) of about Rs. 40 crores and is growing month-on-month, expected to expand distribution domestically and globally in H2 FY '26.
→ICONiQ White has achieved nearly 5 million cases in H1 FY '26 and is on track to reach close to 10 million cases annualized volume within the year.
→Prestige & Above (P&A) category continues growing strongly, with an 8.3% quarterly and 28.8% year-on-year volume growth, increasing its share to 47.1% of total volumes.
→International market expanded from 14 to 30 countries and targets 35 countries by Q4 FY '26; aims to build a 1 million case business in Africa by FY '28 with international contribution expected to rise from 8% to 12%-15% of total revenue with ABDM portfolio roll-out.
→Luxury brand portfolio focused on continuous product development and distribution expansion domestically and in travel retail, driving 4x growth in brands like Zoya Gin since April 2025.
→Overall sales growth is supported by premiumization strategy, new product launches, and market share gains across segments.

📈 Profitability & Margins

→ABD's Prestige & Above (P&A) segment showing strong growth with 8.3% QoQ and 28.8% YoY volume increase, expanding P&A salience to 47.1% from 39.7% in Q2 FY '25, indicating premiumization driving earnings growth.
→ICONiQ White doubling volume organically and increasing market share, signaling robust top-line and profitability growth for the brand.
→ABD Maestro's ARR at Rs. 40 crores and growing month-on-month, expected to scale significantly with approx. 8x top-line impact per 1% volume, contributing to future earnings expansion.
→PET bottle manufacturing facility commissioned, expected to add Rs. 30+ crores to gross margin, supporting EBITDA expansion.
→Capex of ~Rs. 527 crores, largely invested by FY '26 with operational efficiencies expected from new facilities, promising margin improvement.
→International business targeted to grow from 8% to 12-15% of total revenue, contributing to diversified profit sources.
→Margin improvement focus via unit economics, cost optimization, and portfolio premiumization, indicating future EPS growth.

See what Allied Blenders & Distillers Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

→Completed Rs. 115 crore investment in a PET bottle manufacturing facility in Rangapur, Telangana, operational from Q2 FY '26, producing 600 million bottles annually.
→Single malt distillery in Rangapur, Telangana and ENA distillation capacity expansion in Aurangabad, Maharashtra are ongoing, expected to be operational in Q4 FY '26 and Q4 FY '27 respectively.
→Total capex program of approximately Rs. 527 crore: 25% spent last year, 60% planned for current financial year, and 15% in next financial year.
→Capex funded partly through borrowing while keeping leverage ratios within internal guidelines.
→New PET facility is EBITDA-accretive, improves gross margins through backward integration, supply chain efficiency, and packaging cost savings, supporting margin expansion and sustainability goals.
→Operating cash flow strong (Rs. 147 crores in H1 FY '26) despite peak capex phase.

💰 Fundraising & Capital Structure

- Allied Blenders & Distillers (ABD) plans to fund a part of its capex for the current financial year through borrowing. - Alok Gupta mentioned they will need to borrow the balance capex for FY '26 but will keep borrowings well within agreed internal key ratios. - No specifics were provided on any new equity fundraising. - Net debt increased by Rs. 127 crores due to capex in H1 FY '26, with the average cost of borrowing reducing to 8.2%. - ABD is managing leverage within guidelines even during the peak capex phase and has had two credit rating upgrades recently. - Dividend payout decisions for the next year have not been finalized yet; current payout is around 50%. In summary, ABD is planning some additional borrowing for capex in FY '26 but no announced plans for equity fundraising at this time.

See what Allied Blenders & Distillers Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

→The transcript does not explicitly mention the current or expected order book or pending orders for Allied Blenders & Distillers Limited.
→However, the company highlights the growth and expansion of its ABD Maestro (ABDM) business with a current annual run rate (ARR) of about Rs. 40 crores, growing month-on-month.
→ABDM is focused on expanding distribution in key Indian states, global markets, and travel retail with plans to provide detailed data by the end of the financial year.
→The international business is expanding from 14 to 30 countries, including GCC, Africa, western hemisphere, Europe, and Southeast Asia, targeting significant volume growth.
→The company expects pipeline corrections in Telangana to normalize by Q3 FY '26, which may impact future orders and operations positively.

Key Metrics

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Frequently Asked Questions

What were Allied Blenders & Distillers Ltd Q2 FY26 results?

What is Allied Blenders & Distillers Ltd share price analysis?

Allied Blenders & Distillers Ltd currently shows a neutral. The stock trades at a P/E of 77.0 with a market cap of ₹17,178 Cr. Investors should review the full earnings analysis for detailed insights.

Is Allied Blenders & Distillers Ltd planning capital expenditure?

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.