Associated Alcohols posts Rs 17.83 cr profit as expansion broadens
The consolidated quarter carried a 10.63% operating margin, while management outlined entry into two states and Kultur registrations in eight more.
Filed 24 Jul 2026, 16:19 IST · after market close · ASALCBR (ASALCBR)
Key takeaways
- Associated Alcohols reported consolidated Q1FY27 net profit of Rs 17.83 cr at a 10.63% operating margin.
- Other income of Rs 3.1 cr supplemented the Rs 24.05 cr consolidated profit before tax.
- Management said it plans to enter Karnataka and Andhra Pradesh and roll out Kultur across eight additional states.
10.63% margin sets the Q1FY27 operating benchmark
The consolidated quarter generated Rs 29.86 cr of operating profit on Rs 280.86 cr of revenue, resulting in a 10.63% operating margin. Other income added Rs 3.1 cr to profit before tax of Rs 24.05 cr, so reported earnings included a non-operating contribution. After Rs 6.22 cr of tax, net profit stood at Rs 17.83 cr and EPS at Rs 8.88.
Management outlines a wider alco-bev footprint
Management said Associated Alcohols aims to become a pan-India player within the next 1-2 years and rank among India's top 10 IMFL companies. It said the company plans to enter Karnataka and Andhra Pradesh to support proprietary-brand growth, while Kultur is planned for phased registration in eight additional states. Management also said SDF Industries brings 4.3 million cases per year of IMFL bottling capacity in-house in Kerala.
Capex and acquisition remain central to the expansion plan
Management said Rs 550 million has been incurred for the malt plant, with a further Rs 150 million of cask capex expected in FY27. It also said Rs 400 million of capex is planned for SDF Industries, including Rs 308.5 million towards acquisition cost. The company reported SDF's total acquisition cost at Rs 30.85 cr.
Results were filed after market close
The company filed the consolidated results after market close on 24 Jul 2026. The market response is therefore not part of this initial read-through.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹281 cr |
| Other income | ₹3 cr |
| Expenses | ₹251 cr |
| Operating profit | ₹30 cr |
| Operating margin (%) | 10.63% |
| Interest | ₹2 cr |
| Depreciation | ₹7 cr |
| Profit before tax | ₹24 cr |
| Tax | ₹6 cr |
| Net profit | ₹18 cr |
| EPS (₹) | ₹8.88 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- Associated Alcohols aims to become a pan-India player within the next 1-2 years.
- The company aims to rank among the top 10 IMFL companies in India and achieve pan-India presence.
- The company plans to enter Karnataka and Andhra Pradesh to support proprietary-brand growth.
Expansion
- Kultur is planned for phased rollout through state registrations in eight additional states.
- SDF Industries has IMFL bottling capacity of 4.3 million cases per year.
- The company incurred Rs. 550 million for the malt plant and expects Rs. 150 million additional cask capex in FY27.
- The company plans Rs. 400 million of capex for SDF Industries, including Rs. 308.5 million for acquisition cost.
- The company acquired SDF Industries for a total acquisition cost of Rs. 30.85 crore.
New products
- Kultur is AABL's entry into the ready-to-drink category and was introduced in five flavour variants.
New initiatives
- The acquisition of SDF Industries brings bottling operations in-house in Kerala.
- The company is building a one-stop alco-bev destination covering every category.
Competition
- The company is one of four exclusive Diageo contract manufacturing partners.
What to watch
- Whether operating margin holds above 10.63% in the next reported quarter.
- Progress on Kultur's planned registrations in eight additional states.
- Whether SDF's 4.3 million cases per year bottling capacity is reflected in operations.