Shri Gang Industries Posts 38% FY26 Revenue Growth Fueled by Diageo Deal

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AuthorKavya Nair|Published at:
Shri Gang Industries Posts 38% FY26 Revenue Growth Fueled by Diageo Deal
Overview

Shri Gang Industries & Allied Products Ltd shared its Q4 and FY26 investor outlook. The company highlighted a 38% revenue CAGR (FY23-FY26), driven by its integrated alcobev model and a partnership with Diageo. Plans include significant capacity expansion for bottling and ENA distillery, plus a new contract manufacturing LOI with Tilaknagar Industries. Financial stability improved, with Net Debt/EBITDA at 1.4x and Interest Coverage at 6.2x for FY26.

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Shri Gang Industries & Allied Products Ltd reported its FY26 net revenue reached ₹366 crore, with ₹236 crore specifically from its contract manufacturing partnership with Diageo. The company achieved strong financial growth from FY23 to FY26, posting compound annual growth rates (CAGRs) of 38% in revenue, 27% in EBITDA, and 12% in Profit After Tax (PAT).

The company's integrated alcobev business model combines its strategic partnership with global leader Diageo, alongside the development of its own brand portfolio. This diversified approach underpins robust financial performance and a clear strategic direction.

Significant capacity expansion is central to future plans. Bottling facilities are targeted to increase from the current 5.6 million cases to 10 million cases. Furthermore, ₹39 crore has been earmarked for expanding its Extra Neutral Alcohol (ENA) distillery, with deployment planned across FY27 and FY28.

Reinforcing its position in contract manufacturing, Shri Gang Industries has secured a Letter of Intent (LOI) with Tilaknagar Industries for production capacity of 2 lakh cases per month. The company is also actively pursuing contract manufacturing opportunities with other third-party brands.

This growth strategy is supported by solid financial footing. For FY26, Shri Gang Industries reported a Net Debt to EBITDA ratio of 1.4x and an Interest Coverage Ratio of 6.2x, indicating manageable debt levels and healthy profitability.

In the competitive Indian Made Foreign Liquor (IMFL) market, where players like United Spirits and Radico Khaitan hold significant presence, Shri Gang Industries' expansion and partnership strategy is key. The company's partner, Tilaknagar Industries, also seeks similar contract manufacturing agreements. Investors will be closely watching the commissioning timeline for new bottling lines, particularly those related to the Tilaknagar project, expected by the end of FY27. Progress in securing additional contract manufacturing deals, the pace of ENA distillery expansion capex deployment, and the performance of Shri Gang's own brands will be critical indicators for future growth.

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