Associated Alcohols & Breweries has set ambitious volume growth targets while positioning for strong quarterly performance through strategic product launches. The company expects 30-35% annual volume growth fueled by better brand variety and premium products, alongside significant revenue acceleration in Q4 FY26.

Revenue Outlook and Quarterly Performance

The company anticipates over 25% revenue growth in Q4 FY26, which is traditionally their strongest quarter. This robust quarterly performance is expected to be driven by the launch of Ready-to-Drink (RTD) products and exclusive Indian Made Foreign Liquor (IMFL) items, marking a significant expansion in the company's product portfolio.

Strategic Product Portfolio Expansion

The company's growth strategy centers on diversifying its product offerings through innovative launches and premium positioning. The introduction of RTD products represents a strategic move to capture the growing convenience segment, while exclusive IMFL items target the premium alcoholic beverages market.

Volume Growth Strategy

Associated Alcohols & Breweries has outlined an ambitious volume growth target of 30-35% year-over-year, supported by two key strategic pillars:

• Enhanced Brand Mix: Optimizing the product portfolio to capture higher-value market segments
• Premiumization Trends: Leveraging ongoing market trends toward premium alcoholic beverages

The company's confidence in achieving substantial volume growth reflects its strong operational capabilities and strategic market positioning, particularly with Q4 FY26 expected to demonstrate the impact of new product launches.

Source:

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.

Earnings Call Disclosure

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has made available the audio recording of its earnings call held on February 5, 2026. The call discussed the unaudited financial results for the quarter ended December 31, 2025.

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.