Associated Alcohols & Breweries Ltd
Associated Alcohols & Breweries Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
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The short version
The company expects flattish revenue growth for the entire FY '26, with Q4 anticipated to deliver more than 25% revenue growth driven by RTD launch and IMFL proprietary brands. The company expects stable working capital in near term with no significant increase, supported by surplus funds convertible to working capital as needed (Page 16).
From Associated Alcohols & Breweries Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- The company expects flattish revenue growth for the entire FY '26, with Q4 anticipated to deliver more than 25% revenue growth driven by RTD launch and IMFL proprietary brands.
- Proprietary IMFL volume grew 32% YoY to 1.7 million cases for 9 months FY '26; the company aims to continue growing this segment aggressively.
- Licensed IMFL volumes declined due to franchisee business conversion but excluding Inbrew, a 3-4% volume growth is expected in licensed brands.
- Expansion focus is on growing proprietary brands and geographic expansion into high potential states like Maharashtra, UP, Jharkhand.
- The Central Province brand is targeted to become a million case brand, focusing on popular segment alongside premium and above segments.
2 more points from Associated Alcohols & Breweries Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Ongoing capex of around INR 100 crores for malt plant, with INR 60-65 crores already invested.
- Remaining capex focused on purchase and maturation of casks, with maturation process started about 2 months ago.
- Within 1 to 1.5 years, expect first single malt super premium product launch.
- Looking for acquisition opportunities, including a unit through NCLT in Kerala and plans for 2-3 more distilleries in other states like UP.
- Expansion of ENA manufacturing capacity is being considered based on own and market requirements; most licenses and approvals are in place.
2 more points from Associated Alcohols & Breweries Ltd's call on capex
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
2 more points from Associated Alcohols & Breweries Ltd's call on order book
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Associated Alcohols & Breweries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹238 Cr, net profit ₹24 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Assoc.Alcohols's management said in earlier quarters
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Associated Alcohols & Breweries Ltd Q3 FY26 results?
The company expects flattish revenue growth for the entire FY '26, with Q4 anticipated to deliver more than 25% revenue growth driven by RTD launch and IMFL proprietary brands. The company expects stable working capital in near term with no significant increase, supported by surplus funds convertible to working capital as needed (Page 16).
What is Associated Alcohols & Breweries Ltd share price analysis?
Associated Alcohols & Breweries Ltd currently shows a neutral. The stock trades at a P/E of 17.3 with a market cap of ₹1,434 Cr. Investors should review the full earnings analysis for detailed insights.
Is Associated Alcohols & Breweries Ltd planning capital expenditure?
Ongoing capex of around INR 100 crores for malt plant, with INR 60-65 crores already invested.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.