ABDL

May 21 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS - TO INCORPORATE 'ABD UK LTD' IN UK

Source text: ID:nBSE8wz8HJ

Further company coverage: ALLE.NS

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By Devika Madhusudhanan Nair

May 15 (Reuters) - India's Allied Blenders and Distillers ALLE.NS is betting on premium spirits to drive future growth as demand remains resilient despite inflationary pressures stemming from the Middle East war, a top executive said on Friday.

Strong double-digit growth in the Prestige & Above (P&A) portfolio and its rising share in overall sales value are underscoring the firm's strategy of prioritising profitability over mass volumes, Managing Director Alok Gupta said.

"The mix shift is structural...the bulk of our future volume and value growth will come from Premium & Above and luxury segments," he said.

The P&A portfolio, which includes brands such as Millionaire Spirits and ICONiQ White, now accounts for about 47% of volumes and 58% of sales value.

Earlier this month, peer Radico Khaitan RADC.NS said consumers were drinking less overall, but were opting for more expensive and refined spirits. Allied Blenders, too, has not seen any change in consumption, particularly in its higher‑margin premium and luxury segments, Gupta said.

The company, maker of the Officer's Choice whiskey brand, expects overall EBITDA margins to expand by 300 basis points by fiscal year 2028. For fiscal 2026, margins rose to 14.4% from 12.7% a year earlier.

War-linked disruptions in March and early April delayed shipments to key Middle Eastern markets and depleted distributor inventories, though demand remained intact, the MD said, adding supplies are resuming, with restocking likely by June or July.

While short-term cost pressures persist, margins could remain steady if raw material prices ease, he said.

On Thursday, Allied Blenders reported a 48% drop in net profit to 409.7 million rupees ($4.27 million), hit by a one-time charge of 3.4 million rupees.

Net export revenue rose 14.1% to 2.35 billion rupees in fiscal 2026 from 2.06 billion rupees a year earlier.

($1 = 95.9650 Indian rupees)

(Reporting by Devika Nair in Bengaluru; writing by Chandini Monnappa; Editing by Sonia Cheema)

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MUMBAI, May 12 (Reuters) - India's southern state of Tamil Nadu, one of biggest alcohol markets in the country, has ordered the closure of 717 state-run retail stores, roughly 15% of its outlets, citing public welfare.

• Stores operated by the Tamil Nadu State Marketing Corporation which are located within 500 meters of places of worship, educational institutions and major bus terminals will need to shut down, the government said.

• All alcohol retail stores in the state are operated by the government.

• The decision was taken by Tamil Nadu's new chief minister, actor-turned-politician C. Joseph Vijay.

• The closure process, framed as a public welfare initiative, is mandated to be completed within two weeks.

• Liquor industry sources say Tamil Nadu's alcohol sales are dominated by local brands, though foreign companies such as Pernod Ricard PERP.PA and Diageo DGE.L do have a presence in the state.

• The change in policy comes as the liquor industry is battling escalating costs from Iran war-linked disruptions and seeking price hikes.

• Tamil Nadu is a key state for big foreign companies such as Apple AAPL.O supplier Foxconn.

(Reporting by Dhwani Pandya. Editing by Aditya Kalra and Mark Potter)

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May 6 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS - GRANTED PERMISSION TO OBTAIN DM2 (MGO) LICENCE IN ANDHRA PRADESH

• ALLIED BLENDERS AND DISTILLERS - APPROVAL ENABLES GREENFIELD IMFL BOTTLING PLANT WITH 4.65 MILLION CASES CAPACITY

Source text: ID:nNSE3zNgxY

Further company coverage: ALLE.NS

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March 2 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS - APPROVED TO BUY UP TO 50% STAKE OF KION BLENDERS

• ALLIED BLENDERS AND DISTILLERS - COMPANY TO INVEST UP TO 450 MILLION RUPEES IN KION

Source text: ID:nBSE8l3p8W

Further company coverage: ALLE.NS

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By Komal Salecha

Feb 20 (Reuters) - Allied Blenders and Distillers (ABD) ALLE.NS is banking on premium spirits and the India–UK trade deal to boost margins to about 18% by fiscal year 2028, its managing director told Reuters.

The liquor maker has been expanding its premium and prestige portfolio while widening distribution beyond its core markets, as India's growing base of affluent consumers splurge on higher-end spirits.

ABD also expects potential cost savings from the India–UK free trade pact, which will lower the tariff on imported bulk Scotch whiskey to 75% from 150%, supporting margins over the medium term, MD Alok Gupta said.

The company, known for its Officer's Choice whisky, expects margins to increase by 200 basis points by the second-half of fiscal 2027, with further gains after that. Its core earnings margin stood at 12.7% in fiscal 2025.

To support growth, the company has already invested 5.25 billion rupees ($57.7 million)to set up its own bottling units and allocated an additional 1.1 billion rupees in January to expand its in-house bottling capacity.

The premium spirits segment has been a key growth driver for larger peers such as Radico Khaitan RADC.NS and United Spirits UNSP.NS, indicating increasing opportunities in the sector.

ABD's luxury and super-premium business under the ABD Maestro brand is expected to double sales in the fourth quarter, Gupta said.

Post-COVID, the company has also seen more socialising at home and cocktails becoming mainstream, he added. "We've launched two flavoured variants and today more than 30% of our (sales) volumes come from flavours."

For the December quarter, the company reported a 16% rise in profit to 664.8 million rupees, even as revenue slipped 17% due to changes in excise duties.

($1 = 90.9760 Indian rupees)

(Reporting by Komal Salecha in Bengaluru; writing by Chandini Monnappa; Editing by Sonia Cheema)

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Feb 5 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS- HIGH COURT DECREES SUIT AGAINST BATRA BREWERIES IN FAVOR OF CO

Source text: ID:nNSE7rRkKB

Further company coverage: ALLE.NS

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Jan 29 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS DEC-QUARTER CONSOL NET PROFIT 664.8 MILLION RUPEES

• ALLIED BLENDERS AND DISTILLERS DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 19.34 BILLION RUPEES

Source text: ID:nBSE69QLMh

Further company coverage: ALLE.NS

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** Jefferies starts coverage on Indian alcoholic beverage makers, United Spirits UNSP.NS, Radico Khaitan RADC.NS and Allied Blenders ALLE.NS with "buy"

** Stocks rise between 1% and 2.5%

** Jefferies sets price target for UNSP and RADC at 1,570 rupees and 3,590 rupees, respectively; sets Street High PT on ALLE at 620 rupees

** PT on UNSP, RADC, ALLE at ~20%, 25%, ~14% premium on last close

** Brokerage says the spirits sector offers premiumization-led strong growth potential; sees double-digit revenue CAGR across firms with room for margin expansion

** RADC is top pick for Jefferies, on the back of leading EPS CAGR growth over FY25-28; adds UNSP has likely favorable risk reward, ALLE has meaningful upside underway

** Estimates 20% EBITDA CAGR for RADC, ALLE and 13% for UNSP

** UNSP, RADC, ALLE rated "buy" on avg - data compiled by LSEG

** YTD, UNSP down ~19%; RADC, ALLE up 12%, 28%, respectively

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

Aug 14 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS - NOT TO PROCEED WITH ACQUISITION IN GOOD BARREL DISTILLERY

• ALLIED BLENDERS AND DISTILLERS - WILL CONTINUE TO EXPLORE ORGANIC, INORGANIC GROWTH OPPORTUNITIES

Source text: ID:nNSE82PgWs

Further company coverage: ALLE.NS

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** Shares of Allied Blenders ALLE.NS rise 2.5% to 500 rupees

** Whisky maker posts a nearly four-fold Y/Y rise in June-qtr consol net profit to 565.6 mln rupees ($6.49 mln)

** Revenue from operations rises 0.5% Y/Y

** More than 1 mln shares change hands, 2.1x its 30-day avg

** ALLE rated "strong buy" by 5 analysts on average; median target price is 517 rupees – data compiled by LSEG

** Stock up 15% YTD

($1 = 87.1560 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

((rudrapratap.singh@thomsonreuters.com))

July 29 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS JUNE-QUARTER CONSOL NET PROFIT 565.6 MILLION RUPEES

• ALLIED BLENDERS AND DISTILLERS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 17.76 BILLION RUPEES

Source text: [ID:]

Further company coverage: ALLE.NS

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July 17 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• INDIA COURT ORDERS ABD TO HALT PRODUCT INTRODUCTION

• CO CONSIDERING TO CHALLENGE ORDER

Source text: ID:nBSE86xj0B

Further company coverage: ALLE.NS

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Updates

** United Spirits UNSP.NS leads losses in Indian liquor makers with 7.7% drop; set for steepest single-day decline since January 2021

** Radico Khaitan RADC.NS falls ~2%; Allied Blenders and Distillers ALLE.NS slips 4%

** Maharashtra state to hike excise duty on Indian Made Foreign Liquor (IMFL) from 3x to 4.5x the declared production cost, the chief minister's office said in a post on X

** Karan Taurani, an analyst at Elara Capital, estimates IMFL retail prices to shoot up by 30%-50% in Maharashtra

** Says state accounts for a fifth of UNSP's sales, ~8% of RADC's

** Notes 20% revenue drop will hit UNSP's earnings by 6%-8%; RADC will see a 2%-3% hit

** Analysts, on average, rate stocks "buy" or higher, per LSEG-compiled data

** UNSP falls 8.3% YTD, while ALLE, RADC flat

(Reporting by Hritam Mukherjee, Vijay Malkar and Nandan Mandayam in Bengaluru)

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May 12 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• BOARD TO CONSIDER FUNDRAISING VIA EQUITY SHARES OR SECURITIES

Source text: ID:nBSE8SFvgJ

Further company coverage: ALLE.NS

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April 30 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS LTD - INCOME TAX DEPARTMENT STAYS 90% OF TAX DEMAND FOR ABDL

Source text: ID:nNSE20NDhG

Further company coverage: ALLE.NS

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April 15 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• DENIES RECEIVING COMMUNICATION FROM BANKS OR REGULATORY AUTHORITIES

• CLARIFIES MEDIA REPORTS ALLEGE CO INVOLVED IN UNFAIR TRADE PRACTICES

Source text: ID:nBSE1JxNxl

Further company coverage: ALLE.NS

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March 25 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS - UNIT FILES APPEAL AGAINST TAX DEMAND OF 161.6 MILLION RUPEES

Source text: ID:nBSE4Cf1YF

Further company coverage: ALLE.NS

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** Shares of Allied Blenders ALLE.NS rise 3.75% to 332 rupees

** The liquor maker gets approval from the state of Telangana to increase its production capacity by 1.5 million bulk litres

** The production increase will add to the existing capacity of 60 million bulk litres and will not require additional investment since the requisite infrastructure is in place, says ALLE

** Shares of ALLE are down 23% in 2025 so far and are just 3.75% above the listing price of 320 rupees on July 2, 2024, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

March 21 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS - GETS NOD TO INCREASE PRODUCTION CAPACITY BY 1.5 MILLION BULK LITRES

Source text: ID:nBSE7ljqrg

Further company coverage: ALLE.NS

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Jan 29 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• APPROVES ACQUISITION OF 51% STAKE IN GOOD BARREL DISTILLERY

• COST OF ACQUISITION IS 90 MILLION RUPEES

Source text: ID:nNSE4F9yhs

Further company coverage: ALLE.NS

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** Whisky maker Allied Blenders and Distillers ALLE.NS gains 2.8% to 404.4 rupees

** Systematix Institutional Equities initiates with "buy"; sets TP of 502 rupees, a 27.6% premium to last close

** Says ALLE's strong manufacturing and distribution supported by backward integration and premiumisation of products to drive strong growth and profitability

** Estimates 12.6% rev CAGR over FY24-27

** Adds ALLE's ICONIQ White spirit brand set to achieve annual run rate of 4.5 mln-5 mln cases in FY25 vs year-ago 2.3 mln cases

** Systematix second brokerage to cover stock; ICICI Securities ICCI.NS has "buy", TP of 500 rupees - LSEG

** ALLE gains 26.4% since debut on July 2, 2024

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of Indian whisky maker Allied Blenders and Distillers ALLE.NS rise as much as 3.8% to hit record high of 422.4 rupees; last up 2.4%

** Over 1 mln shares changed hands in a block deal at 412 rupees apiece - LSEG data

** Deal at premium on last closing price of 406.8 rupees

** Overall 2.7 mln shares traded, 3.4x the 30-day avg

** ALLE up ~30% since trading debut on July 2

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Allied Blenders and Distillers ALLE.NS is well-positioned to capture the premiumisation trend in the alcohol-beverages sector by launching new luxury products, ICICI Securities says

** Stock last up 2% to 329.5 rupees

** Brokerage initiates coverage on the liquor-maker with a "buy" rating at TP of 400 rupees

** ABD working to drive market share gains for the 'Officer's Choice Whisky' brand in affordable premium category, brokerage says

** Co is boosting profitability by focusing on states with higher margins and reducing efforts in less profitable ones - ICICI

** Says ABD's strong distribution network, manufacturing capabilities allowed it to garner significant share of mass premium market

** ABD operates in a highly regulated market with pricing and cost challenges but leverages its premiumisation strategy to drive net sales value per case and margin growth - ICICI

(Reporting by Aleef Jahan in Bengaluru)

((aleefjahan.cs@thomsonreuters.com))

Nov 20 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• GOT DEMAND FOR EXCISE DUTY AMOUNTING TO 52.3 MILLION RUPEES

Further company coverage: ALLE.NS

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Oct 29 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS & DISTILLERS- APPROVED ACQUISITION OF MINAKSHI AGRO INDUSTRIES LIABILITY PARTNERSHIP

Source text: ID:nNSE3GZH0t

Further company coverage: ALLE.NS

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Sept 4 (Reuters) - Allied Blenders and Distillers Ltd ALLE.NS:

• ALLIED BLENDERS AND DISTILLERS - ACQUISITION OF MAJORITY STAKE OF A NEW COMPANY

• ALLIED BLENDERS AND DISTILLERS - MAJORITY STAKE ACQUIRED IN COLLABORATION WITH OH FIVE OH TALENT

• ALLIED BLENDERS AND DISTILLERS - COST OF ACQUISITION 700 MILLION RUPEES

• ALLIED BLENDERS AND DISTILLERS - NEW ENTITY WILL BE A PART OF ALCOHOLIC BEVERAGES INDUSTRY

Source text for Eikon: ID:nBSE7jy9np

Further company coverage: ALLE.NS

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** Shares of Vraj Iron and SteelVRAJ.NS jump 21.7% at 252 rupees on first day of trading

** VRAJ, which makes sponge iron and TMT bars, opened at 240 rupees, a near 16% premium to IPO price of 207 rupees

** VRAJ's IPO -- of fresh shares worth 1.71 bln rupees ($20.5 mln) -- was oversubscribed 119x, per exchange data

** VRAJ to use proceeds for plant expansion, other general costs

** Co's profit jumped nearly 90%, while its rev rose 24.5% in year-ended March, 2023

** Allied Blenders and Distillers ALLE.NS rose nearly 13% in its debut on Tuesday


($1 = 83.5025 Indian rupees)

(Reporitng by Nishit Navin)

((nishit.navin@thomsonreuters.com;))

Adds fresh analyst comments; updates shares

By Kashish Tandon

BENGALURU, July 2 (Reuters) - Shares of Allied Blenders and Distillers ALLE.NS rose nearly 13% in debut trade on Tuesday, in line with analysts' expectations for the Indian whisky manufacturer, which makes the 'Officer's Choice' and 'Sterling Reserve' brands of whiskies.

The stock listed at 320 rupees on the National Stock Exchange, a 14% premium to its offer price of 281 rupees, before surrendering some gains. The benchmark Nifty 50 .NSEI was flat.

India's $33 billion spirits market is crowded, currently dominated by Diageo-owned United Spirits and France's Pernod Ricard PERP.PA, which makes the popular 'Chivas Regal' whisky.

Allied Blenders' listing valued the company at 77.38 billion rupees (nearly $927 million). United Spirits, which makes the 'Johnnie Walker' brand of whisky, is the larger rival, valued at $11 billion.

Even if the shares listed at a premium, the valuations will not sustain as the stock is highly overvalued, analysts said.

Allied's price-to-earnings ratio of 4,014 is way ahead of its larger peers United Spirits UNSP.NS and Radico Khaitan RADC.NS with P/E ratios at 73 and 96, respectively.

The premium listing is because there is liquidity in the market and investors are looking for new stock ideas, said Karan Taurani of Elara Capital.

The company's initial public offering, at 23 times the shares on offer, was also significantly lower than recent IPOs in June which were oversubscribed by around a hundred times.

The absence of big names as part of anchor investors in the offering and stretched valuations were among the reasons for a subdued response to the IPO, said Kranthi Bathini, director of equity strategy at Wealthmills.

($1 = 83.5075 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Janane Venkatraman )

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

** Shares of Stanley Lifestyles STAY.NS rise 31.6% in market debut to 485.55 rupees

** The luxury furniture co opened at 494.95 rupees, a 34% premium to IPO price of 369 rupees

** Co raised 2 bln rupees ($24 mln) in IPO via fresh issue of shares and 18.3 bln rupees from offer for sale of shares - prospectus

** STAY's IPO was subscribed 97x, per exchange data

** Co to utilise IPO proceeds for investment to open new stores and to purchase new machinery and equipment

** This week, DEE Development Engineers DEEV.NS, Akme Fintrade AKMF.NS surged 66% and 11% in debut trade, respectively

($1 = 83.4600 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))