Allied Blenders and Distillers (ABDL) Q4 25/26 earnings summary

Executive summary

• Achieved seventh consecutive quarter of profitable delivery post-listing, with FY26 marking a record year for profit and sustainable growth initiatives.

• Board recommended a 270% dividend (₹5.4 per share) for FY26, reflecting confidence in long-term growth.

• Prestige & Above (P&A) portfolio drove topline growth, with volumes up 26.8% and sales up 28.3% YoY.

• ICONiQ White sales reached 10.7 million cases in FY26, maintaining status as fastest-growing millionaire spirit brand.

• Audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, were approved with unmodified auditor opinions.

Financial highlights

• FY26 consolidated income from operations reached ₹3,949 crore, up 11.5% YoY; Q4FY26 income from operations was ₹1,020 crore (+9.1% YoY).

• EBITDA hit a record ₹568 crore, up 28.5% YoY, with margin expanding 163 bps to 14.4%.

• Adjusted PAT for FY26 was ₹266 crore, up 36.3% YoY; standalone EBITDA margin improved to 15.5%.

• Operating cash flow improved to ₹362 crore in FY26, strengthening the balance sheet.

• Standalone and consolidated net profit after tax for FY26 rose to ₹26,832.96 lakhs and ₹22,011.74 lakhs, respectively.

Outlook and guidance

• Expect mid- to high-teens consolidated top-line growth, driven by premiumization, ICONiQ White expansion, and ABD Maestro scale-up.

• EBITDA margin for FY27 guided to be at least in line with FY26, with potential for expansion as CapEx and pricing benefits accrue.

• Targeting 300 bps EBITDA margin improvement by FY28 and an additional 100 bps by FY29 from backward integration.

• Premium and above segment expected to surpass 50% of volume and 70-75% of value in three years.

• Dividend payout and fundraising plans indicate confidence in future growth and liquidity.