Q3 2026 Allied Blenders and Distillers Ltd Earnings Call Transcript
Key Points
- Allied Blenders and Distillers Ltd (NSE:ABDL) reported a 14.1% year-on-year growth in EBITDA for Q3 FY '26, with an improvement in EBITDA margin to 13.6%.
- The company's premiumization strategy is yielding results, with the P&A portfolio showing a 16.9% year-on-year volume growth.
- ICONiQ White continues to be a standout performer, expanding its presence both domestically and internationally, and is on track to reach 10 million cases this financial year.
- The company has successfully expanded its international footprint from 14 to 31 countries over the last 21 months, with plans to reach 35 countries by Q4 FY '26.
- Backward integration initiatives are expected to enhance gross margins by 300 basis points by FY '28, with several projects already on track or completed.
- The mass premium whiskey segment experienced softness, with a 7% decline in Telangana due to changes in licensing and stocking norms.
- Maharashtra's policy-driven price changes have affected consumer affordability and buying behavior, leading to lower consumer offtake.
- Despite overall growth, the mass premium segment saw a 5% decline in volume over the last two quarters.
- The company faces challenges in maintaining growth momentum in the face of increased competition, particularly in the mass premium segment.
- There is a potential risk of further regulatory changes in key markets like Maharashtra, which could impact future performance.
Ladies and gentlemen, good day, and welcome to the Allied Blenders and Distillers Q3 and 9M FY '26 Post Earnings Conference Call hosted by Antique Stock Broking. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Abhijeet Kundu. Thank you, and over to you, Mr.
Kundu.
Yes. Thanks. It's our absolute pleasure to host the management of Allied Blenders and Distillers Limited for the third quarter of '26. Over to Mr. Mukund, Head of Investor Relations and Chief Risk Officer, for further proceedings.
Thank you.
Thank you, Abhijeet. Good evening, everyone, and thank you for joining our Q3 FY '26 results conference call. I hope you have received a copy of our results presentation. I would like to urge you to go through this along with the disclaimer slides. Today, we have with us
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