Associated Alcohols & Breweries Limited (AABL) has recently made several significant announcements, including the confirmation of proper fund utilization from convertible warrants, key changes in its leadership team, and amendments to its corporate documents.

Fund Utilization from Convertible Warrants

AABL has filed its quarterly statement confirming no deviation or variation in the use of funds raised through convertible warrants. The company had two warrant issues:

The first warrant issue was fully converted to equity shares on September 4, 2025. The company confirmed that the funds are being used according to the original objectives stated in the offer document. Funds from the first issue remain unutilized and are currently kept in treasury.

Leadership Changes

In a significant move, AABL has announced changes in its financial leadership:

1. Resignation of CFO: Mr. Tushar Bhandari has resigned from his position as Chief Financial Officer (CFO) of the company, effective November 8, 2025. Mr. Bhandari cited preoccupation as the reason for his resignation. He will continue to serve as the Whole Time Director of the company.

2. Appointment of New CFO: The Board of Directors has approved the appointment of Mr. Dilip Kumar Inani as the new Chief Financial Officer and Key Managerial Personnel of the company, effective November 8, 2025.

Profile of New CFO

Mr. Dilip Kumar Inani brings over 30 years of experience in financial leadership roles across various sectors including Textile, FMCG, Glass, and Paper. As a Chartered Accountant, he has held senior finance positions in reputed organizations. His expertise includes:

• Financial planning & analysis
• Controllership
• Taxation
• Treasury management
• Audit & compliance
• ERP implementation

Throughout his career, Mr. Inani has led the implementation of SAP/HANA/Oracle ERP systems, streamlined working capital and treasury operations, and played key roles in M&A and restructuring initiatives.

Other Corporate Actions

The company has also announced several other corporate actions:

1. Amendments to the Memorandum of Association (MOA) and Articles of Association (AOA): The Board of Directors approved amendments on November 8, 2025, to include the power to "captively generate and captively consume electrical power." Specifically:

   • Added power to captively generate and consume electrical power in Clause III(A)(2) of the MOA
   • Inserted a new Clause 156(A) in the AOA to empower the company to carry on electricity generation business
   • These amendments are subject to approval from the company's members

2. Approval of a draft notice for a Postal ballot by e-voting regarding the amendments to the MOA and AOA.

3. Authorization to submit a Resolution Plan for SDF Industries Limited.

These developments indicate that Associated Alcohols & Breweries Limited is actively managing its financial resources, strengthening its leadership team, and pursuing strategic initiatives for future growth, including potential expansion into electricity generation capabilities.

Associated Alcohols & Breweries Limited (AABL) has released its financial results for the quarter ended September 30, 2025, along with announcing significant management changes and strategic initiatives.

Q2 Financial Performance

AABL reported the following financial metrics for the quarter:

All figures in INR lakhs

The company experienced a slight decrease in total income and a more significant decline in net profit year-over-year.

Management Changes

AABL announced changes in its top management:

1. CFO Resignation: Mr. Tushar Bhandari has stepped down from his position as Chief Financial Officer (CFO) of the company. Mr. Bhandari will continue to serve as the Whole Time Director of AABL.

2. New CFO Appointment: The company has appointed Mr. Dilip Kumar Inani as the new Chief Financial Officer and Key Managerial Personnel.

Strategic Initiatives

The Board of Directors has approved several strategic initiatives:

1. Memorandum and Articles of Association: The company plans to amend its Memorandum and Articles of Association to include captive power generation.

2. Share Warrant Conversion: AABL has converted 9,00,000 share warrants into equity shares after receiving INR 32.74 crores. The funds are designated for investments in its wholly-owned subsidiary for establishing a bottling and distillery unit in Uttar Pradesh.

These developments indicate that Associated Alcohols & Breweries is taking steps to adapt to market conditions and position itself for potential future growth.