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Associated Alcohols & Breweries Ltd. Q2 FY26 earnings call summary

NSE: ASALCBR · BSE: 507526

Earnings call of 11 Nov 2025, summarised by AI from the filing.

Q2 FY26 revenue ₹253 cr, EBITDA margin 9%; proprietary IMFL volume up 37% year-on-year, with 30-35% growth guided.

Key takeaways

  1. Change Inbrew business shifted from license to contract manufacturing, reducing IMFL licensed revenue.
  2. Driver Proprietary IMFL volume grew 37% year-on-year, driven by premium brands and new geographies.
  3. Risk Byproduct price fall and higher marketing costs in new states impacted margins.

Original filing on BSE

Associated Alcohols & Breweries Ltd. Q1 FY27 results

As filed: Revenue ₹286 cr (+6% year on year), EBITDA ₹29.9 cr (−21% year on year), PAT ₹17.8 cr (−26% year on year), EBITDA margin 10.4% (−364 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹242 cr (−3% year on year), EBITDA ₹40.3 cr (+15% year on year), PAT ₹23.5 cr (+7% year on year), EBITDA margin 16.7% (+257 bps). Score 45 of 100, In line with trend. EBITDA margin rose 257 bps year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 9% from last quarter. Share price after the results: −0.7% in 30 days (Nifty 500: +2.9%).
  • Q3 FY26: Revenue ₹265 cr (−21% year on year), EBITDA ₹41.5 cr (+6% year on year), PAT ₹27.3 cr (+5% year on year), EBITDA margin 15.7% (+401 bps). Score 34 of 100, Below trend. EBITDA margin rose 401 bps year on year. Not enough history for a trend yet: scored on growth alone. Share price after the results: −14.1% in 30 days (Nifty 500: −4.5%).
  • Q2 FY26: Revenue ₹257 cr (0% year on year), EBITDA ₹24.0 cr (−4% year on year), PAT ₹14.0 cr (−7% year on year), EBITDA margin 9.3% (−35 bps). Score 28 of 100, Below trend. EBITDA margin fell 35 bps year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 5% from last quarter. Share price after the results: −19.5% in 30 days (Nifty 500: 0.0%).
  • Q1 FY26: Revenue ₹270 cr (+5% year on year), EBITDA ₹38.0 cr (+31% year on year), PAT ₹24.0 cr (+33% year on year), EBITDA margin 14.1% (+275 bps). Score 65 of 100, Above trend. EBITDA margin rose 275 bps year on year. Not enough history for a trend yet: scored on growth alone. Share price after the results: −2.3% in 28 days (Nifty 500: +1.7%).
  • Q4 FY25: Revenue ₹248 cr (+2% year on year), EBITDA ₹35.0 cr (+84% year on year), PAT ₹22.0 cr (+83% year on year), EBITDA margin 14.1% (+633 bps). Score 65 of 100, Above trend. Revenue growth was well below the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 633 bps year on year. Revenue fell 26% from last quarter. Profit rose ₹10.0 cr on a year ago, more than the ₹2.0 cr it added the year before. Share price after the results: −16.8% in 30 days (Nifty 500: +4.9%).
  • Q3 FY25: Revenue ₹334 cr (+73% year on year), EBITDA ₹39.0 cr (+95% year on year), PAT ₹26.0 cr (+100% year on year), EBITDA margin 11.7% (+131 bps). Score 89 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 131 bps year on year.
  • Q2 FY25: Revenue ₹258 cr (+51% year on year), EBITDA ₹25.0 cr (+25% year on year), PAT ₹15.0 cr (+15% year on year), EBITDA margin 9.7% (−201 bps). Score 69 of 100, Above trend. EBITDA margin fell 201 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 17% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Associated Alcohols & Breweries Ltd. earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.