Financial Performance (Consolidated, ₹ in crore)

Quarterly Performance:

  • Total Income: Q2FY27 ₹2,089 (Q1FY27 ₹1,814, Q2FY26 ₹1,957); q-o-q growth 15.2%, y-o-y growth 6.7%
  • Income from Operations: Q2FY27 ₹1,152 (Q1FY27 ₹984, Q2FY26 ₹995); q-o-q growth 17.1%, y-o-y growth 15.8%
  • EBITDA: Q2FY27 ₹143 (Q1FY27 ₹120, Q2FY26 ₹130); q-o-q growth 19.2%, y-o-y growth 10.0%
  • EBITDA Margin: Q2FY27 12.4% (Q1FY27 12.2%, Q2FY26 13.1%); q-o-q +22 bps, y-o-y -66 bps
  • PAT: Q2FY27 ₹69 (Q1FY27 ₹45, Q2FY26 ₹63); q-o-q growth 52.0%, y-o-y growth 9.7%

Half-Yearly Performance (H1):

  • Total Income: H1FY27 ₹3,903 (H1FY26 ₹3,741); y-o-y growth 4.3%
  • Income from Operations: H1FY27 ₹2,135 (H1FY26 ₹1,925); y-o-y growth 10.9%
  • EBITDA: H1FY27 ₹263 (H1FY26 ₹249); y-o-y growth 5.8%
  • EBITDA Margin: H1FY27 12.3% (H1FY26 12.9%); y-o-y -60 bps
  • PAT: H1FY27 ₹114 (H1FY26 ₹119); y-o-y decline -3.6%

Operational Highlights

Record Volumes: Achieved highest-ever quarterly sales volumes of 10.0 million cases in Q2FY27, representing 11.1% volume growth from 9.0 million cases in Q2FY26. Record monthly volume of over 3.5 million cases achieved in September 2026.

Supply Chain Impact: Global supply chain disruptions negatively impacted results by ₹29 crore. Excluding this impact, like-to-like performance would have been:

  • LTL EBITDA: ₹172 crore (32.3% higher y-o-y)
  • LTL EBITDA Margin: 14.9% (up 186 bps y-o-y)
  • LTL PAT: ₹91 crore (44.3% higher y-o-y)

Premiumization Trend: Prestige & Above (P&A) value segment salience at 58% in H1FY27 vs 56% in H1FY26. P&A volume salience at 46% in H1FY27 vs 47% in H1FY26.

Brand Performance: ICONiQ White volumes reached 3.2 million cases in Q2FY27, up 20.6% from 2.6 million cases in Q2FY26, maintaining its position as the world's fastest-growing millionaire whisky brand for three consecutive years (2023, 2024, 2025).

Strategic Developments

Product Launches:

  • The Indian Edit premium whisky launched in September 2026 in Maharashtra, Haryana, Uttar Pradesh, Assam, Tripura, Rajasthan and Goa. Available in 180 ml, 500 ml and 750 ml SKUs, with 750 ml pack priced at ₹1,550 in Maharashtra.
  • Officer's Choice Blue unveiled refreshed identity and premium packaging in September 2026, rolled out in Uttar Pradesh, Maharashtra, Haryana and West Bengal.

Capacity Expansion:

  • Moradabad Bottling Unit: Commercial operations commenced October 2026 with initial capacity of 6 million cases per annum. Acquired for ~₹70 crore in January 2026 and upgraded with ~₹40 crore investment.
  • Rangapur Malt Distillery: Commissioned October 2026 with investment of ~₹75 crore and annual capacity of ~4.0 million bulk litres. Located in Telangana and integrated with existing manufacturing complex.

International Expansion:

  • Expanded to 42 countries in Q2FY27 from 36 countries in Q4FY26, including European, African markets and Australia.
  • First international manufacturing facility established in Malaysia through asset-light co-bottling model for Officer's Choice Blue (announced August 2026).
  • ABD Maestro's super-premium portfolio expanded to Australia, Canada, Ivory Coast, New Zealand, Rwanda, Sierra Leone and UAE.

Awards and Recognition

ABD Maestro Private Limited received multiple awards at Spiritz Conclave & Achievers' Awards 2026:

  • 'Company of the Year 2026 (Domestic)' and Gold award
  • RANGEELA Contemporary Indian Vodka: 'Grand Gold' Medal in blind tasting, Gold under 'Product Launch 2026 Vodka'
  • YELLO Designer Whisky: Gold medal
  • AODH Irish Whiskey: Gold medal, shared Gold under 'Product Launch 2026 – Whisky Premium'
  • ZOYA Premium Mixed Berries Gin: Silver medal

Management Commentary

Amar Sinha, Managing Director, stated: "Q2FY27 marked an important milestone for ABD, with quarterly volumes crossing 10 million cases for the first time, supported by growth across segments. We continued to invest in expanding our super-premium and luxury portfolio. The recent commissioning of our capacity-expansion projects has strengthened our manufacturing capabilities and is expected to improve supply-chain efficiency and margin accretion. With the festive season ahead, we expect the topline growth momentum to continue. We remain focused on driving operational efficiencies and the disciplined execution of our capex programme, while closely monitoring inflationary trends."