Integrated Filing
Awaiting price reaction for this filing.
Allied Blenders and Distillers (ABDL) reported FY25 standalone revenue from operations of ₹8,073 crore, up ~5.3% from ₹7,669 crore in FY24. Profit after tax surged to ₹200 crore from just ₹6.7 crore in FY24, while EBITDA margin expanded sharply to ~5.6% from ~3.3%. The Board recommended a dividend of ₹3.60 per share and approved a proposal to raise up to ₹1,000 crore through equity shares, convertible securities or a QIP. A ₹29 crore capex was cleared to triple bottling capacity at the Derabassi plant from 100,000 to 300,000 cases per month. Auditor Walker Chandiok & Co LLP issued an unmodified opinion, but flagged an ongoing CSD customer dispute and a ₹352+ crore income tax demand (90% stayed, with the promoter chairman personally assuring to fund any liability).
Sharp earnings recovery and growth plans are positive for shareholders, but the large income tax demand and a swing to negative operating cash flow are concerns to watch. The proposed ₹1,000 crore fund raise could lead to dilution depending on the eventual instrument chosen.