Associated Alcohols & Breweries Limited has announced its unaudited financial results for the third quarter of fiscal year 2026, ending December 31, 2025. The Board of Directors approved the standalone and consolidated financial results during their meeting held on February 4, 2026.

Financial Performance Overview

The company demonstrated mixed financial performance during Q3FY26, with profitability showing improvement despite revenue challenges.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company showed stronger profitability growth compared to the corresponding period in the previous year.

Segment-wise Performance

The company operates through two primary business segments, showing contrasting performance during the quarter.

Potable Alcohols Division

• Revenue: ₹20,439.38 lakhs (Q3FY26) vs ₹23,251.24 lakhs (Q3FY25)
• Segment Result: ₹3,598.19 lakhs vs ₹3,151.16 lakhs
• Nine-month revenue: ₹58,539.25 lakhs vs ₹59,807.14 lakhs

Ethanol Division

• Revenue: ₹6,808.45 lakhs (Q3FY26) vs ₹11,128.75 lakhs (Q3FY25)
• Segment Result: ₹177.10 lakhs vs ₹707.87 lakhs
• Nine-month revenue: ₹22,830.63 lakhs vs ₹27,374.05 lakhs

Key Financial Metrics

The company's earnings per share performance remained relatively stable during the quarter.

Corporate Developments

Several significant corporate actions have impacted the company's financial position:

• Share Warrant Conversion: On September 4, 2025, the company converted 9,00,000 share warrants into equity shares after receiving balance 75% allotment money of ₹32.74 crores
• New Share Warrants: On October 7, 2024, the company allotted 11,00,000 share warrants at ₹679.00 each, with ₹1,868.25 lakhs utilized for Malt Plant establishment
• Labour Code Impact: The company recognized an incremental liability of ₹195.47 lakhs related to new Labour Codes notified in November 2025

Regulatory Matters

The company continues to address ongoing Competition Commission of India (CCI) proceedings related to alleged cartelisation in Indian Made Indian Liquor products. The matter remains pending before the Madhya Pradesh High Court, with CCI directed not to take coercive action during the proceedings.

The financial results have been subjected to limited review by statutory auditors Singhi & Co. and approved by the Audit Committee and Board of Directors on February 4, 2026.

Associated Alcohols & Breweries Limited has reported mixed financial results for the third quarter, with revenue declining significantly while demonstrating strong profitability and operational efficiency improvements. The company's quarterly revenue dropped to ₹2.64 billion compared to ₹3.34 billion in the corresponding quarter of the previous year, marking a substantial year-on-year decline of 21%.

Strong EBITDA Performance Amid Revenue Challenges

Despite revenue headwinds, the company delivered impressive operational metrics with EBITDA reaching ₹415 million compared to ₹395 million in the previous year, representing a year-on-year growth. More significantly, EBITDA margin expanded substantially to 15.69% from 11.83% in the corresponding quarter of the previous year, indicating enhanced operational efficiency and cost management.

Q3 Financial Performance Overview

The company maintained profitability growth alongside improved margins. Standalone net profit reached ₹273 million compared to ₹261 million in the previous year's corresponding quarter, representing a growth of 4.60%. This performance demonstrates the company's ability to enhance profitability despite challenging top-line conditions.

Board Meeting and Results Approval

The financial results were formally approved during the board meeting held on February 04, 2026, at the company's registered office. The board considered and approved both standalone and consolidated unaudited financial results for the quarter ended December 31, 2025.

Management Communication

Following the results announcement, the company hosted an earnings conference call on February 5, 2026, at 04:00 PM IST. The call was conducted by Go India Advisors and featured key management members including Mr. Anshuman Kedia (Whole Time Director & CEO), Mr. Tushar Bhandari (Whole Time Director), and Mr. Dilip Kumar Inani (Chief Financial Officer).

Company Operations

Associated Alcohols & Breweries Limited operates from its registered office in Indore and maintains its manufacturing plant at Khodigram, Tehsil Barwaha, District Khargone in Madhya Pradesh. The company markets various alcoholic beverage brands including Nicobar, Hillfort, Titanium, CP, Jamaican Magic, and James Mc Gill.