Allied Blenders & Distillers Limited (ABDL), a prominent player in the Indian spirits industry, has announced significant changes in its leadership team and initiated a review of executive remuneration.

New CFO Appointment

The company's Board of Directors has approved the appointment of Jayantt Bhalchandra Manmadkar as the new Chief Financial Officer (CFO), effective October 10, 2025. Manmadkar, a seasoned finance professional, brings over 32 years of experience to the role. His expertise spans various sectors, including financial services, pharmaceuticals, manufacturing, real estate, and retail.

Manmadkar's credentials include qualifications as a Chartered Accountant, Cost and Works Accountant, and Company Secretary. His career highlights feature senior positions at notable organizations such as Seagram India Pvt. Ltd., Brigade Enterprises Ltd., Mahindra Lifespace Developers Ltd., and Reliance Retail.

Transition in Finance Leadership

The incoming CFO will replace Anil Somani, who will step down from his position at the close of business hours on October 9, 2025. Somani will continue to serve ABDL in a different capacity, focusing on special projects. This transition ensures a smooth handover of financial responsibilities while retaining Somani's expertise within the organization.

Executive Remuneration Review

ABDL has initiated a postal ballot process to seek shareholder approval for revised remuneration packages for two key executives:

1. Alok Gupta, Managing Director
2. Arun Barik, Executive Director

The company will circulate the Notice of Postal Ballot and other relevant documents to shareholders, allowing them to vote on these proposed changes.

Regulatory Compliance

ABDL has emphasized its commitment to regulatory compliance, stating that these changes align with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also designated Jayantt Bhalchandra Manmadkar as a Key Managerial Personnel (KMP) authorized to determine the materiality of events or information for disclosure purposes to stock exchanges.

These strategic moves by Allied Blenders and Distillers Limited reflect the company's focus on strengthening its financial leadership and ensuring appropriate compensation for its top executives. As the spirits industry in India continues to evolve, ABDL's actions demonstrate its commitment to maintaining a robust and experienced management team to navigate future challenges and opportunities.

Allied Blenders & Distillers Limited (ABDL), a prominent player in the Indian spirits industry, has received significant tax relief following a favorable appellate order. The Deputy Commissioner of State Tax, Thane, has extinguished a ₹14.98 crore Central Sales Tax (CST) demand that covered the financial years 2020-21 to 2023-24.

Tax Demand Background

The tax demand originated from assessments conducted by the Office of Assistant Commissioner of State Tax, Thane Rural Division, Bhayandar, Maharashtra. ABDL received orders raising a demand of ₹14.98 crores, along with applicable interest, under the Central Sales Tax Act, 1956.

Reason for Initial Demand

The primary reason for the tax demand was the non-availability of C/F Forms at the time of assessment. These forms are crucial for interstate sales and help in availing concessional tax rates or exemptions under the CST Act.

Company's Response and Appeal

Allied Blenders took prompt action upon receiving the tax demand. The company successfully obtained the required C/F Forms and filed appeals before the Deputy Commissioner of State Tax (Appeals), Thane Rural Division, Bhayandar, Maharashtra.

Favorable Appellate Order

ABDL received the orders on their appeals. The Deputy Commissioner of State Tax (Appeals) ruled in favor of the company, effectively extinguishing the entire tax demand of ₹14.98 crores.

Implications for Allied Blenders

This favorable ruling brings significant relief to Allied Blenders & Distillers Limited. The extinguishment of the ₹14.98 crore tax demand eliminates a substantial financial liability for the company, potentially improving its financial position and reducing tax-related uncertainties for the periods FY 2020-21 to FY 2023-24.

Disclosure Compliance

In compliance with regulatory requirements, Allied Blenders has duly informed the stock exchanges about this development. The company's disclosure aligns with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Premium Spirits Portfolio Launch

In a separate development, ABD Maestro Private Limited, a subsidiary of Allied Blenders and Distillers Limited, has launched its premium spirits portfolio at Kempegowda International Airport Bengaluru's duty-free retail. The company plans to expand nationwide to Delhi and Mumbai airports within a month, followed by global travel retail expansion.

The premium portfolio includes:

• ARTHAUS Blended Malt Scotch Whisky
• WOODBURNS Contemporary Indian Malt Whisky
• PUMORI Small Batch Gin
• ZOYA Special Batch Gin
• RUSSIAN STANDARD Vodka (through exclusive distribution partnership)

Managing Director Bikram Basu described this launch as a defining moment for ABD Maestro, targeting international travelers in key global markets. The expansion aims to serve the growing demand for premium alcohol beverages among travelers passing through Indian airports annually.

These developments showcase Allied Blenders' strategic moves in both resolving tax issues and expanding its market presence in the premium spirits segment.