Associated Alcohols Q3FY26: Revenue Declines 20%, PAT Up 5%
Associated Alcohols & Breweries Ltd. reported Q3FY26 net revenues of ₹2,604 million, down 20% YoY. Profit After Tax rose 5% to ₹273 million. IMFL Proprietary volumes grew 23% YoY, while IMFL Licensed volumes decreased 33%. RTD product launch is planned for H2FY26. The company expanded into Jharkhand.
The revenue decline of 20% is significant, but the 5% increase in PAT and growth in key proprietary brands suggest resilience. The planned product launches and market expansion indicate future growth potential, making the impact medium.
The company reported a decline in revenue due to specific segment performance (IMFL Licensed and Ethanol sales) but showed growth in IMFL Proprietary volumes and an increase in Profit After Tax. The outlook includes new product launches and market expansion, balancing positive and negative aspects.
Associated Alcohols & Breweries Limited has announced its financial results for the quarter ended December 31, 2025 (Q3FY26).
The company reported a 20% year-on-year decline in net revenues from operations, which stood at ₹2,604 million (₹260.4 crore). This decline was attributed to a decrease in IMFL Licensed volume by 33% YoY and subdued ethanol sales due to industry oversupply. However, IMFL Proprietary volumes saw a significant 23% YoY growth, supported by demand in core markets. Revenue from by-products also recovered.
Gross profit margin improved to 46%, driven by softening raw material prices. Profit After Tax (PAT) increased by 5% YoY to ₹273 million (₹27.3 crore). EBITDA for the quarter was ₹415 million (₹41.5 crore), a 5% increase YoY, with EBITDA margins at 16%.
Key business updates include the planned launch of Ready-to-Drink (RTD) products in the second half of FY26, and the strategic alignment of Premium Brandy and Tequila launches with upcoming state license renewal cycles. The company has expanded its presence into Jharkhand and is seeing traction in Maharashtra and Uttar Pradesh for its premium products.
For the nine months ended December 31, 2025 (9MFY26), net revenues from operations were ₹7,809 million (₹780.9 crore), a 6% decrease YoY. PAT for the period increased by 10% YoY to ₹650 million (₹65 crore), with EBITDA at ₹1,026 million (₹102.6 crore) and EBITDA margins at 13%.
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Associated Alcohols & Breweries Ltd. filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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