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Stock Analysis

Description

Incorporated in 2008, Allied Blenders and Distillers Ltd manufactures, purchase and sells Alcoholic Beverages /liquids.

Key Growth Triggers

Acquisition of a non-operational distillery cum bottling facility in Uttar Pradesh to enhance backward integration and captive ENA production.
Expansion of IMFL bottling capacity, particularly in the strategic Uttar Pradesh market.
This move supports the company's overall growth strategy and operational efficiency objectives.

Order Book

Currently no data available for Order Book.

Key Red Flags

The acquired facility is non-operational, necessitating significant investment for upgradation and commissioning.
The total investment of ₹110 crores, funded by a mix of internal accruals and debt, could impact the company's debt levels.

Key Dates To Watch

Acquisition completion by July 31, 2026.
Upgradation completion within 12 months of acquisition.

Corporate Announcements

17th Apr 26

Impact Rating: 7

Allied Blenders and Distillers announced that its wholly-owned subsidiary, Madanlal Estates Private Limited, has had its tax litigation resolved. An order dated April 15, 2026, resulted in the entire Rs. 0.39 crore income tax liability and Rs. 0.19 crore interest being reduced to zero.

16th Apr 26

Impact Rating: 7

ABD Maestro, Allied Blenders' subsidiary, won 'Distiller of the Year' at the 15th Icons of Whisky India Awards 2026, marking its first anniversary and a portfolio of 10 brands. ARTHAUS won 'Campaign Innovator'.

15th Apr 26

Impact Rating: 7

Allied Blenders appointed Dr. Pradipta Basu as Chief Marketing Officer and SMP from April 15, 2026. Mohta & Rao will cease SMP classification but remain Marketing Directors.

15th Apr 26

Impact Rating: 7

Allied Blenders and Distillers appoints Dr. Pradipta Basu as Chief Marketing Officer and Senior Management Personnel (SMP) effective April 15, 2026. Mr. Mohta and Mr. Rao cease SMP status.

15th Apr 26

Impact Rating: 6

Allied Blenders and Distillers announces Dr. Pradipta Basu's appointment as Chief Marketing Officer and SMP from April 15, 2026. Concurrently, Arvind Mohta and Uday Rao step down as SMPs.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	United Spirits	1375.50	58.36	100047.11	0.87	464.00	42.56	3173.00	11.57	26.50	12658.00	18.34	1714.40	486.12	11.90	12.34	0.05
2.	United Breweries	1587.70	110.45	41979.61	0.63	46.34	-64.80	2052.83	-3.02	13.88	9240.39	8.32	380.09	46.52	9.67	6.03	0.18
3.	Radico Khaitan	3104.60	89.54	41568.57	0.13	138.96	69.07	1493.93	33.83	16.24	5598.29	14.85	464.24	138.96	14.25	7.98	0.21
4.	Allied Blenders	574.65	59.05	16073.54	0.63	71.80	48.19	983.86	13.39	21.19	3796.83	13.17	272.21	71.80	10.01	6.43	0.65
5.	Tilaknagar Inds.	459.50	41.68	11357.50	0.22	52.68	-9.53	398.22	6.23	28.19	1553.60	18.89	272.47	52.68	4.80	20.26	0.02
6.	India Glycols	1007.00	26.05	6749.60	0.50	65.06	30.88	1092.20	13.63	12.35	3971.08	14.53	259.14	65.06	2.61	4.04	0.86
7.	Piccadily Agro	628.05	56.37	6186.15	0.00	26.72	8.32	212.21	14.76	22.68	863.64	22.86	109.75	26.69	7.69	10.87	0.40
–	Median: 23 Co.	294.75	39.29	1785.66	0.13	19.5	0.0	212.21	3.57	13.25	863.64	8.55	55.65	19.5	3.14	6.43	0.43

Quarterly Results

Standalone figures in ₹ crores

	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2023	Sep 2024	Sep 2025
Sales	895	974	814	758	919	771	768	921	851	868	984
Expenses	835	857	762	683	804	721	708	785	780	764	852
Operating Profit	59	117	52	74	115	50	60	136	71	104	132
Other Income	-2	4	1	2	7	1	3	14	1	2	5
Profit before tax	-3	81	2	17	82	1	2	108	16	65	95
Tax %	43%	28%	184%	26%	26%	147%	64%	25%	29%	26%	25%
Net Profit	-4	58	-2	12	61	-0	1	81	12	48	72
EPS in Rs	-0.15	2.09	-0.08	0.44	2.18	-0.01	0.02	2.90	0.48	1.73	2.57

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,012	2,953	8,119	6,379	2,686	3,147	3,328	3,520	3,797
Expenses	1,825	2,650	7,884	6,183	2,487	2,960	3,084	3,088	3,297
Operating Profit	187	302	235	196	199	187	244	432	500
Other Income	9	-5	17	20	12	12	2	21	30
Interest	121	192	180	142	145	135	173	125	111
Depreciation	72	81	69	58	57	54	55	57	53
Profit before tax	4	24	3	16	8	9	18	271	367
Net Profit	2	7	15	6	6	5	7	200	272
EPS in Rs	1.41	0.31	0.63	0.24	0.25	0.20	0.28	7.15	9.74
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	50%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	12	47	47	47	47	49	49	56	56
Reserves	279	244	333	338	372	376	381	1,518	1,550
Borrowings	937	1,209	1,035	958	847	789	831	901	1,052
Other Liabilities	516	1,126	988	962	987	1,296	1,404	1,076	1,194
Total Liabilities	1,743	2,626	2,404	2,305	2,253	2,509	2,665	3,551	3,852
Fixed Assets	639	647	621	635	594	562	540	584	560
Gross Block	783	941	965	1,034	1,044	1,066	1,092	1,188	–
Accumulated Depreciation	144	294	345	399	450	504	552	605	–
CWIP	68	31	43	13	11	10	12	14	120
Investments	6	2	2	24	77	3	89	181	238
Other Assets	1,030	1,946	1,737	1,633	1,572	1,935	2,024	2,772	2,934
Total Assets	1,743	2,626	2,404	2,305	2,253	2,509	2,665	3,551	3,852

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	183	175	592	247	185	230	186	-676
Cash from Investing Activity	-77	-161	-43	-59	44	-27	-59	-185
Cash from Financing Activity	-109	-7	-496	-217	-254	-195	-128	922
Net Cash Flow	-3	6	53	-29	-25	9	-0	60

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	60	141	42	50	130	111	136	181
Inventory Days	63	84	72	89	153	190	124	191
Days Payable	76	83	85	124	229	189	204	201
Cash Conversion Cycle	46	142	30	14	53	112	57	171
Working Capital Days	-28	-39	-14	-19	-27	-16	-18	67
ROCE %	–	–	13%	11%	12%	12%	16%	21%

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	80.91%	80.91%	80.91%	80.91%	80.91%	80.91%
FIIs	3.83%	2.83%	2.55%	2.73%	2.82%	2.96%
DIIs	3.52%	4.14%	4.01%	4.03%	4.73%	4.56%
Public	11.73%	12.11%	12.53%	12.33%	11.53%	11.58%