Investor Presentation - Q2 & H1FY27 Earnings Presentation

October 27, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code (BSE): 544203 Symbol: ABDL Our Reference No. 87/ 2026-27 Sub: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) - Q2 and H1FY27 Earnings Presentation Dear Sir/Ma’am, Please find enclosed the Q2 and H1FY27 Earnings Presentation on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Half Year ended September 30, 2026. The Presentation is being submitted in compliance with Regulation 30(6) read with Schedule III Part A Para A of the SEBI Listing Regulations. This intimation is also being uploaded on Company’s website and can be accessed at https://www.abdindia.com/. The above is for your information and record. Thanking you. Yours sincerely, For Allied Blenders and Distillers Limited Sumeet Maheshwari Company Secretary & Compliance Officer ICSI Membership No. ACS - 15145 Encl.: a/a Allied Blenders and Distillers Limited Corporate Office: Ashford Centre, 3rd Floor, 4th Floor & 7th Floor, Shankarrao Naram Marg, Lower Parel (W), Mumbai – 400013. Tel: +91 22 4300 1111 Registered Office: 394-C, Ground Floor, Lamington Chambers, Lamington Road, Mumbai – 400004, India. T.: +91-22 6777 9777 CIN No: L15511MH2008PLC187368 | E.: info@abdindia.com| www.abdindia.com Q2 and H1 FY27 Earnings Presentation Oct 2026 (BSE: 544203 | NSE: ABDL) THE INDIAN EDIT is a premium whisky born from the spirit of modern India - rooted in heritage yet fearlessly reimagined for a new generation. Born of superior Indian grains. Elevated with Scotch malts. Raised as THE INDIAN. The Scotch malts impart notes of vanilla, caramel, and gentle oak while the Indian malts bring warmth, richness and long finish. It is an edit of craft, love, flair, and modern Indian swag - refined into something timeless. Bold yet sophisticated, every sip reveals depth, authenticity, and a distinctly Indian soul. Agenda 1 ABD Overview 4 2 Investment Case 5 3 Performance Highlights 6 4 ABD Maestro Update 14 5 Management Perspectives 21 6 Future Ready Transformation 28 7 Financial Statements 33 8 Key Brand Portfolio Overview 37 9 5 Year Consolidated Financial Summary 45 ABD Overview 4 Millionaire Brands Prestige / Premium / Luxury Officer’s Choice Whisky Officer’s Choice Blue Whisky Launched in 1988 Launched in 2011 • Among top 10 global spirits brands • Regional power brand in the Prestige • 3rd largest whisky brand in the world category Golden Mist Srishti Kyron Sterling Reserve The Indian Edit • Leverages strength of flagship brand • Market leader in Mass Premium Brandy Whisky Brandy B10 Whisky Whisky Officers Choice category for more than a decade • India’s # 1 exported brand Sterling Reserve B7 Whisky ICONiQ White Whisky Launched in 2017 Launched in 2022 • Among top 25 global whisky brands • Fastest growing millionaire whisky Rangeela Zoya Yello Designer Woodburns • 5th largest brand in the Semi- brand in the world for three consecutive Vodka Gin Whisky Whisky Premium whisky category nationally years CY23, CY24 and CY25 • Ranked 12th among Indian whisky • Among top 15 global whisky brands in brands globally the world • Crossed 10 Million cases in FY26 Segredo Pumori Aodh Irish Arthaus Blended Russian Standard Aldeia Rum Gin Whiskey Malt Whisky Platinum Vodka 2nd 41 80,000+ #1 Brands Largest Indian spirits Whisky, Brandy, Rum, Vodka 2 ENA Distilleries 90%+ of width of retail Largest exporter by volume company by volume and Gin 1 Malt Distillery distribution across India 1 PET Bottle Manufacturing Unit Presence in 42 Countries Expanded portfolio operating Pan India 36 Bottling units across multiple price points International: 1 Bottling unit New Brands launched since FY26 ABD Investment Case Platform of scale in the attractive, rapidly premiumising Indian Prestige & Above (P&A) brand portfolio well positioned for high growth consumer market trajectory • Expanded portfolio from Mass Premium to Super-Premium and • Driving aggregated market share in P&A whisky category Luxury • Portfolio ready to capitalize on high growth and high margin Super-Premium to • Strategically located pan India manufacturing network Luxury category (ABD Maestro) • High-end research center with infrastructure to support premium • Broad range of price points (₹840 to ₹5,300 per bottle) covering consumer products development across categories preferences • 90%+ of width of retail distribution domestic market • One of the largest bulk Scotch importers, margin accretive UK FTA , improving luxury portfolio accessibility Successful value creation track record of building 4 Millionaire 2 Strategic investments to optimize supply chain and enhance EBITDA Brands Margins by ~300 bps by FY28 and incremental ~150 bps by FY29 • Officer’s Choice maintaining market leadership over a decade (16.9 • Secure key raw material supplies by establishing in-house ENA distilleries in Mn cases in FY26) with 40%+ market share key states in India • ICONiQ White growing exponentially to 10.7 Mn cases in FY26 vs • Reduced availability risks to enable high growth Prestige whisky and setting up 5.7 Mn cases in full year FY25 Single Malt distillery • Sterling Reserve is amongst the top 5 brands in India’s semi- • In-house PET bottle manufacturing facility and malt distillery now operational & premium whisky segment EBITDA accretive • Officer’s Choice Blue continues to enjoy its position as a regional • Scaling in-house bottling capabilities across key markets to support growth and power brand in the Prestige & Above segment improve operational efficiencies Officer’s Choice strong cash flow generation core to future Continue to deliver long term, sustainable shareholder value growth plans • Revenue growth in mid teens underpinned by increasing P&A contribution, • 45%+ Gross Margins, highest in the Mass Premium category ~50% by volume by FY28 • High Contribution After Promotions (CAAP), given exceptionally • EBITDA margin of 14.4% (FY26) on track for ~18.0% by FY28 strong brand recall and lower trade spend • Capital structure provides headroom to support future growth plans (FY26 Net • India’s #1 exported brand, with market leadership in the Middle East Debt / Equity: 0.6x) 5 with growing presence in Africa • Driving ROCE from 19.7% (FY26) to 23% – 25% by FY28 Consolidated Q2FY27 Highlights YoY ABD Delivers Strong Topline Growth in Q2FY27 • Topline driven by volume growth across portfolio Income from Operations EBITDA ₹ 1,152 Cr ₹ 143 Cr • Reported Highest Ever Quarterly Sales Volumes of 10.0 million cases in Q2FY27 driven by growth across all 4 millionaire brands on q-o-q up 15.8% up 10.0% basis • ICONiQ White grew by 20.6% to 3.2 Mn cases vs 2.6 Mn in Q2FY26 EBITDA Margin PAT • Gross Margin expanded by 90 bps to 45.3% from 44.4% in 12.4% ₹ 69 Cr Q2FY26, driven by premiumization and benefits from backward vs 13.1% Q2FY26 Up 9.7% integration, despite ongoing global supply chain disruptions • EBITDA margin moderated by 66 bps as Gross Margin gains were more than offset by planned investments in people, core brands and Net Debt / EBITDA Net Debt / Equity newly established luxury portfolio 2.2x in Sep-26 0.8x in Sep-26 • Excluding the ₹29 Cr impact of global supply chain disruptions, like-to- vs 1.7x in Mar-26 vs 0.6x in Mar-26 like (LTL) EBITDA would have been ₹172 Cr (+32.3%), with LTL EBITDA margin at 14.9% (+186 bps) and LTL PAT of ₹91 Cr (+44.3%) in Q2FY27 ROCE • Sustained profitability and effective NWC optimisation drove operating 18.4% in Sep-26 cashflow generation of ₹ 269 Cr in H1FY27 vs 19.7% in Mar-26 • India Ratings & Research upgraded ABD’s rating by two notches to ‘IND AA-’ with Stable Outlook Notes: Net Debt/ EBITDA is calculated with EBITDA on Trailing Twelve Months (TTM) basis, ROCE calcu [Showing first 8,000 characters — download PDF for full document]