Associated Alcohols & Breweries Ltd. has informed the Exchange about Presentation to be shown at Go India Top Ideas For 2026 Conference
ASALCBR · price
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Associated Alcohols & Breweries shared its Q2 & H1FY26 investor presentation shown at a Mumbai broker conference. Q2FY26 net revenue was flat YoY at ₹2,538 Mn, with EBITDA down 4% to ₹240 Mn and PAT down 9% to ₹140 Mn, hurt by weak IMFL Licensed volumes and lower by-product realisations. However, H1FY26 was stronger — revenue up 3% to ₹5,205 Mn, EBITDA up 15% to ₹611 Mn (margins expanded 200 bps to 12%), and PAT up 14% to ₹377 Mn. IMFL Proprietary volumes surged 37% YoY in Q2 on strong brand demand, while the new ethanol plant ran at 85% utilisation and the 6,000 LPD malt plant has been commissioned. Management guided to 15-18% YoY growth in IMFL Proprietary, 8-10% in IMFL Licensed, and 18-20% in premium products, with pan-India expansion continuing into Puducherry, Goa, Karnataka and beyond. The balance sheet remains nearly debt-free with a 0.04x net debt-to-equity ratio and 22x interest coverage.
Mixed quarterly print but solid half-yearly performance with margin expansion and strong proprietary brand momentum should reassure investors. Forward revenue guidance and premiumisation push are positive catalysts, though IMFL Licensed weakness and a flat Q2 may limit near-term excitement.