Standalone Financial Results (₹ in Lakhs)

Q1 FY2027 (June 30, 2026) Performance:

  • Revenue from operations: ₹179,496.40
  • Other income: ₹532.04
  • Total Income: ₹180,028.44
  • Total expenses (excluding finance cost and depreciation): ₹166,058.82
  • Profit before finance costs, depreciation, exceptional items and tax: ₹13,969.62
  • Finance costs: ₹2,758.62
  • Depreciation and amortization: ₹2,036.89
  • Profit before exceptional item and tax: ₹9,174.11
  • Tax expense: ₹2,355.14 (Current tax: ₹2,480.00, Deferred tax: ₹(124.86))
  • Profit after tax: ₹6,818.97
  • Total comprehensive income: ₹6,837.87
  • Earnings per share (basic and diluted): ₹2.44

Comparative Performance:

  • Q1 FY2026 (June 30, 2025): PAT ₹6,091.09, EPS ₹2.18
  • Q4 FY2026 (March 31, 2026): PAT ₹5,744.59, EPS ₹2.05
  • FY2026 (March 31, 2026): PAT ₹26,832.96

Consolidated Financial Results (₹ in Lakhs)

Q1 FY2027 (June 30, 2026) Performance:

  • Revenue from operations: ₹180,915.26
  • Other income: ₹464.22
  • Total Income: ₹181,379.48
  • Total expenses (excluding finance cost and depreciation): ₹169,368.04
  • Profit before finance costs, depreciation, exceptional items and tax: ₹12,011.44
  • Finance costs: ₹2,948.01
  • Depreciation and amortization: ₹2,279.21
  • Profit before exceptional item and tax: ₹6,784.22
  • Tax expense: ₹2,242.17 (Current tax: ₹2,480.37, Deferred tax: ₹(238.20))
  • Profit after tax: ₹4,542.05
  • Total comprehensive income: ₹4,560.60
  • Profit attributable to owners: ₹4,921.69
  • Earnings per share (basic and diluted): ₹1.76

Comparative Performance:

  • Q1 FY2026 (June 30, 2025): PAT attributable to owners ₹5,655.94, EPS ₹2.02
  • Q4 FY2026 (March 31, 2026): PAT attributable to owners ₹4,097.36, EPS ₹1.46
  • FY2026 (March 31, 2026): PAT attributable to owners ₹22,832.21, EPS ₹8.16

Key Notes and Disclosures

Customer Dispute (Note 3)

  • Canteen Stores Department (CSD) raised a debit memorandum for ₹339.87 crore (net of adjustments) regarding differential trade rates for sales during March 1, 2012 to October 31, 2017
  • Company rejected the claim on June 13, 2024 and invoked arbitration
  • Filed petition before Bombay High Court on November 8, 2024 for appointment of Sole Arbitrator
  • Arbitrator appointed, statement of claim filed on March 12, 2026
  • CSD filed application u/s 16 challenging arbitration agreement
  • Hearings held on July 20-21, 2026; next hearings scheduled for July 27-28, 2026
  • Management believes probability of liability is remote, receivable considered recoverable

Income Tax Litigation (Note 4)

  • Income Tax Department conducted search operation December 11-17, 2023
  • Initial aggregate demand of ₹3,523.10 crore plus ₹2,491.40 crore interest for AY 2014-15 to 2024-25
  • Stay granted on 90% demand on April 29, 2025 subject to installment payments
  • Order u/s 250 dated January 30, 2026 revised demand to ₹260.75 crore and interest to ₹193.77 crore
  • Penalty proceedings u/s 271(1)(c) dropped as per order dated April 23, 2026
  • Company recognized tax expense of ₹454.52 crore (including interest) in Q4 and FY2026 results
  • Full refund (including interest) received during current quarter (Q1 FY2027)
  • Promoter Chairman's undertaking waived by Board on May 14, 2026 (previously assured personal funding of tax liability)

Corporate Actions and Acquisitions

  • UTO Asia Acquisition: Board approved acquisition of 100% share capital of UTO Asia Pte. Ltd. (Singapore) on June 10, 2025 for EUR 1,225,000
  • Scheme of Amalgamation: Board approved on November 4, 2025 for amalgamation of Deccan Star Distilleries India Private Limited and Sarthak Blenders & Bottlers Private Limited with ABDL (subject to approvals)
  • Distillery Acquisition: Management Committee approved acquisition of non-operational distillery cum bottling facility in Uttar Pradesh from National Industrial Corporation Private Limited on January 16, 2026 for up to ₹700 crore
  • KION Investment: Management Committee approved acquisition of up to 50% share capital of Kion Blenders Industries Private Limited on March 2, 2026 for ₹0.50 lakh; KION became subsidiary effective March 2, 2026

Employee Stock Options

  • Granted 3,200,000 stock options on January 23, 2026 (cost: ₹332.91 lakhs recognized in Q4 FY2026)
  • Granted 225,000 stock options on May 12, 2026 (cost: ₹13.06 lakhs recognized in Q1 FY2027)

Labour Code Impact

  • Government notified four New Labour Codes on November 21, 2025
  • Impact assessment led to exceptional item of ₹318.74 lakhs in Q3 FY2026 for past service cost
  • Reassessment in Q4 FY2026 resulted in reversal of ₹33.99 lakhs

Subsidiaries Included in Consolidation

The consolidated results include 12 subsidiaries: NV Distillers & Breweries (AP) Private Limited, Deccan Star Distillers India Private Limited, Sarthak Blenders and Bottlers Private Limited, Chitwan Blenders & Bottlers Private Limited, ABD Dwellings Private Limited, Madanlal Estates Private Limited, Allied Blenders and Distillers (UK) Limited, Allied Blenders and Distillers Maharashtra LLP, Minakshi Agro Industries LLP, ABD Maestro Private Limited, UTO Asia Pte. Limited (w.e.f. June 10, 2025), Kion Blenders Industries Private Limited (w.e.f. March 2, 2026)

Auditor's Review

  • Limited review conducted by Walker Chandiok & Co LLP (Firm Registration Number: 001076N/N500013)
  • No qualifications in review report
  • Emphasis of matters on CSD dispute and income tax litigation
  • Nine subsidiaries reviewed by other auditors, two subsidiaries not reviewed but considered immaterial