- Home »
- Quarterly Results »
- Allied Blenders and Distillers Reports 7.8% Income Increase to Rs 7,675 Crore in FY24 Q1 Results
Allied Blenders and Distillers Reports 7.8% Income Increase to Rs 7,675 Crore in FY24 Q1 Results
Allied Blenders and Distillers reports a 7.8% income increase to ₹7,675 crore for FY24, with EBITDA growing 26.7% due to improved brand performance and cost-saving initiatives.
by Damodharan N
Updated Jul 23, 2024
Allied Blenders and Distillers Limited, India's 3rd largest spirits company by annual sales volumes from FY14 to FY24, has announced its audited financial results for the fiscal year ending 31st March 2024.
This fiscal year marks the first set of annual consolidated results following the company's successful IPO, which was subscribed 24.78 times. Allied Blenders and Distillers is now listed on both BSE and NSE. The company undertook several initiatives to enhance performance, resulting in a 26.7% rise in EBITDA.
Alok Gupta, Managing Director of Allied Blenders and Distillers Limited, commented, “FY24 was a year of significant change management, with strong brand performance, entry into the premium to luxury category, cost-saving initiatives, and a focus on building efficiency and digital transformation. Following our successful IPO, we are confident in achieving stronger performance and continuing our transformation with increased rigor.”
Despite an inflationary environment and sharp increases in ENA prices, the company achieved EBITDA growth through cost optimization initiatives, demonstrating resilience and operational efficiency.
Source: Here
Allied Blenders and Distillers Q1 FY24 Results
Allied Blenders and Distillers Limited, India’s 3rd largest spirits company by annual sales volumes from FY14 to FY24, has announced its audited financial results for the first quarter of FY24 ending on 31st March 2024.
Highlights of the consolidated financial results include:
- Total Income: Increased by 7.8% to ₹7,675 crore in FY24, up from ₹7,117 crore in FY23.
- Income from Operations: Rose by 5.6% to ₹3,334 crore in FY24, compared to ₹3,158 crore in FY23.
- EBITDA: Grew by 26.7% to ₹248 crore in FY24, up from ₹196 crore in FY23, with an improved EBITDA margin of 7.5% compared to 6.2% in FY23.
- Profit After Tax: Increased by 14.3% to ₹1.8 crore in FY24, from ₹1.6 crore in FY23.
Performance Review:
- Income from Operations: Grew by 5.6% to ₹3,334 crore in FY24, driven by a 5.1% better realization in the brand portfolio due to an improved state brand mix and price increases. Despite strong demand in H2FY24, persistent delayed receivables from a key market impacted short-term volume growth, resulting in 31.7 million cases delivered in FY24 compared to 32.2 million cases in FY23.
- EBITDA: Increased by 26.7% to ₹248 crore in FY24 from ₹196 crore in FY23, driven by cost optimization initiatives despite an inflationary environment with sharp increases in ENA prices.
- Premiumization Momentum: Continued as Prestige & Above salience increased to 37.3% in FY24 from 36.3% in FY23.
Allied Blenders and Distillers
Allied Blenders and Distillers (ABD) is a leading spirits company with a global presence in over 24 countries. From its roots as a single-brand entity, ABD has expanded its portfolio to include whisky, gin, brandy, rum, vodka, and packaged drinking water, utilizing world-class processes to ensure top quality and taste.
The company has garnered numerous accolades, including Gold Quality Awards and recognition for outstanding marketing campaigns. ABD's products, renowned for their distinctive quality and craftsmanship, are enjoyed by millions worldwide, reflecting its commitment to excellence in the spirits industry.
Allied Blenders and Distillers Reports 7.8% Income Increase to Rs 7,675 Crore in FY24 - FAQs
1. What is Allied Blenders and Distillers' total income for FY24?
Total income for FY24 is ₹7,675 crore, reflecting a 7.8% increase from ₹7,117 crore in FY23.
2. How much did the total income increase in FY24?
The total income increased by 7.8% in FY24 compared to the previous fiscal year.
3. What was the income from operations in FY24?
The income from operations in FY24 was ₹3,334 crore, up from ₹3,158 crore in FY23.
4. How much did income from operations grow in FY24?
Income from operations grew by 5.6% in FY24, indicating better performance compared to FY23.
5. What was the EBITDA for FY24?
EBITDA for FY24 reached ₹248 crore, a significant increase from ₹196 crore in FY23.
6. How much did EBITDA increase in FY24?
EBITDA increased by 26.7% in FY24, showing strong growth due to improved performance and cost management.
7. What is the EBITDA margin for FY24?
The EBITDA margin for FY24 improved to 7.5%, up from 6.2% in FY23.
8. What was the EBITDA margin in FY23?
The EBITDA margin in FY23 was 6.2%, which improved in FY24.
9. How much did the profit after tax grow in FY24?
Profit after tax grew by 14.3% in FY24, reaching ₹1.8 crore compared to ₹1.6 crore in FY23.
10. What was the profit after tax in FY24?
The profit after tax for FY24 was ₹1.8 crore, an increase from the previous fiscal year
11. What was the profit after tax in FY23?
The profit after tax in FY23 was ₹1.6 crore.
12. How many cases did the company deliver in FY24?
The company delivered 31.7 million cases in FY24, slightly down from 32.2 million cases in FY23.
13. How many cases did the company deliver in FY23?
The company delivered 32.2 million cases in FY23.
14. What was the increase in Prestige & Above salience in FY24?
The Prestige & Above salience increased to 37.3% in FY24 from 36.3% in FY23.
15. What was the Prestige & Above salience in FY23?
The Prestige & Above salience in FY23 was 36.3%.
16. What are the key products of Allied Blenders and Distillers?
The key products include whisky, gin, brandy, rum, vodka, and packaged drinking water.
17. When did the company’s IPO take place?
The IPO took place in FY24, marking a significant milestone for the company.
18. How many times was the IPO subscribed?
The IPO was subscribed 24.78 times, indicating strong investor interest.
19. Which stock exchanges is Allied Blenders and Distillers listed?
The company is listed on both the BSE and NSE.
20. What were the major initiatives undertaken in FY24?
Major initiatives included enhancing brand performance, entering the premium category, implementing cost-saving measures, and focusing on digital transformation.
21. How did the company’s performance in FY24 compare to FY23 in terms of income from operations?
Income from operations increased by 5.6% in FY24, showing positive growth compared to FY23.
22. How did the company manage to increase EBITDA despite inflation?
The increase in EBITDA was achieved through cost optimization initiatives, despite facing inflation and rising ENA prices.
23. What is the company’s global presence?
Allied Blenders and Distillers operates in over 24 countries around the world.
24. What notable product was launched in FY24?
Zoya Gin was the notable new product launched in FY24.
25. What is the primary use of IPO proceeds?
The primary use of IPO proceeds was for the repayment of ₹720 crore in debt.
26. How much debt was repaid using IPO proceeds?
The IPO proceeds were used to repay ₹720 crore in debt.
27. What recognition did ICONiQ White whisky achieve?
ICONiQ White whisky achieved the milestone of selling 1 million cases within 12 months of its launch.
28. What milestone did ICONiQ White whisky achieve in FY24?
In FY24, ICONiQ White whisky sold over 2 million cases in its first full year.
29. Which magazine recognized the company’s spirits brand as the fastest growing?
The company’s spirits brand was recognized by Drinks International as the fastest growing.
30. What accolade did the Sterling Reserve Blend 7 Gaming Pack receive?
It received the Gold award at the Campaign India Media 360 Awards 2022.