Analysts/Institutional Investor Meet/Con. Call Updates

July 31, 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. 51/2026-27 Sub: Transcript of the Conference Call to discuss 1QFY27 Earnings of the Company held on Friday, July 24, 2026. Ref: Our letters dated July 20, 2026 & July 24, 2026 Dear Sir/Ma’am, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Transcript of the Conference Call to discuss 1QFY27 Earnings of the Company held on Friday, July 24, 2026. The above transcript is also available on the website of the Company: 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 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 “Allied Blenders & Distillers Limited Q1 FY27 Earnings Conference Call” July 24, 2026 MANAGEMENT: MR. AMAR SINHA – MANAGING DIRECTOR MR. RAMAKRISHNAN RAMASWAMY – CHIEF FINANCIAL OFFICER MR. J. MUKUND – HEAD, INVESTOR RELATIONS AND CHIEF RISK OFFICER MODERATOR: MR. ABHIJEET KUNDU – ANTIQUE STOCK BROKING LIMITED Page 1 of 13 Allied Blenders & Distillers Limited July 24, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Allied Blenders and Distilleries Limited Q1 FY '27 Earnings Conference Call hosted by Antique Stock Broking Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abhijeet Kundu. Thank you, and over to you, sir. Abhijeet Kundu: Thank you. It's our absolute pleasure to host the management of Allied Blenders and Distillers Limited for the Q1 FY27 results call. Over to Mr. Mukund, Head of Investor Relations and Chief Risk Officer for further proceedings. Thank you. J. Mukund: Good evening, everyone, and thank you for joining our Q1 FY27 results conference call. I hope you have received a copy of our results presentation. I would like to urge you to go through this along with the disclaimer slides. Today, we have with us from the management of ABD, Mr. Amar Sinha, Managing Director; and Mr. Ramakrishnan Ramaswamy, Chief Financial Officer. Now I would like to hand over the call to our MD, Mr. Amar Sinha, who will give you the summary of the company's quarterly performance before we open up for Q&A. Over to you, Amar. Amar Sinha: Good evening, everyone, and thank you for joining us today for ABD's Q1 FY27 Earnings Call. I am pleased to speak with you for the first time as Managing Director of Allied Blenders and Distillers Limited. I would like to begin by thanking our shareholders, analysts, investors, partners and employees for their continued trust and support as ABD moves ahead on its transformation journey. ABD has entered FY '27 with a stronger portfolio, a sharper operating model, and a clear focus on building a future-ready spirit’s company. Our priorities remain consistent, premiumization-led growth, stronger consumer engagement, disciplined execution, backward integration, and prudent capital allocation. On Q1 FY27 performance review, it reflects continued progress on its transformation journey, supported by top line growth, premiumization and disciplined execution across the business. On a consolidated basis, income from operations stood at ₹984 crores compared to ₹930 crores in Q1 FY26, reflecting growth of 5.8% year-on-year. Total volume stood at 9 million cases, growing 6.2% year-on-year. The growth was supported by continued momentum in the Prestige and Above portfolio, which grew 10.7%, while Mass Premium and others grew 2.3% during the Page 2 of 13 Allied Blenders & Distillers Limited July 24, 2026 quarter. Importantly, ABD's volume performance was ahead of the industry where the P&A segment grew in the low single digits and Mass Premium and others remained broadly stable on a year-on-year basis. Gross margin expanded by 277 basis points to 46%, supported by a favorable input cost environment and early benefits from backward integration despite the temporary impact of global supply chain disruptions. Reported EBITDA stood at ₹120 crores compared to ₹119 crores in Q1 FY26 with EBITDA margin at 12.2%. PAT stood at ₹45 crores compared to ₹56 crores in Q1 FY26. Profitability was impacted by global supply chain disruptions, which had an estimated impact of ₹24 crores during the quarter. On a like-to-like basis, excluding the impact of global supply chain disruptions, gross margin would have been 48.4%, reflecting an expansion of 522 basis points year-on-year. EBITDA would have been ₹144 crores, higher by 21.4% year-on-year with EBITDA margin at 14.7%, reflecting an expansion of 189 basis points. Like-to-like PAT would have been ₹63 crores, higher by 13.6% year-on-year. This reflects the underlying strength of our operating performance, supported by premium mix improvement, gross margin expansion, and disciplined execution. Portfolio premiumization and brand momentum. Premiumization remains central to ABD's growth strategy. In Q1 FY '27, the Prestige & Above segment contributed 48.2% of volumes and 59.3% of value compared to 46.2% and 55.8% respectively in Q1 FY26. ICONiQ White continues to lead this momentum. The brand delivered 3.1 million cases in Q1 FY27 compared to 2.3 million cases in Q1 FY26 with a monthly average of 1 million plus cases resulting in a growth of 33.8% in the quarter on year-on-year basis. It also continues to be recognized as the world's fastest-growing millionaire whisky brand for 3 consecutive calendar years 2023, 2024 and 2025. ICONiQ White is now operating at a meaningful scale supported by domestic market penetration, the defense channel, and an expanding international presence. In the Mass Premium and other category, which has grown by 2.3% on a year-on-year basis, predominantly led by the key markets in Northern and Southern regions in the whisky and brandy categories. Also, Officer's Choice remains a strong cash flow generator and continues to hold leadership in India's Mass Premium Whisky category while also retaining its position as India's number 1 exported Whisky brand. Super premium and luxury portfolio performance. ABD Maestro continues to be an important platform for our super premium to luxury ambition. In its first year of operations, that is FY26, Page 3 of 13 Allied Blenders & Distillers Limited July 24, 2026 we have established a differentiated portfolio of 10 brands with unique positioning across Whisky, gin, vodka and rum categories. In the current year, the focus is on expanding the width of distribution, deeper penetration in the addressable markets and strong consumer engagement. We have now expanded our presence in Odisha and Telangana as well, increased our premium touch points to over 5,500. The portfolio is now available in 6 international markets and 4 travel retail locations. During the quarter, we continued to strengthen the visibility and positioning of our ABD Maestro portfolio through a series of strategic brand partnerships and sponsorships across premium business leadership, sustainability, lifestyle, and consumer platforms. We have also built a dedicated premium [Showing first 8,000 characters — download PDF for full document]