# Allied Blenders & Distillers share price today (Allied Blenders & Distillers Ltd, NSE: ABDL)

> Allied Blenders & Distillers share price today: ₹697.50 at the NSE close on 4 November 2026, up 8.5% in a year. Allied Blenders & Distillers (NSE: ABDL) is worth ₹19,517 crore, trades at a P/E of 84.7 and has closed between ₹397.05 and ₹748.65 over the past 52 weeks. > Allied Blenders & Distillers Ltd's earnings have grown faster than its share price. Earnings per share grew +17.1% in a year while the price moved +8.5%. ABDL · Alcoholic Beverages · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/allied-blenders-distillers-ltd

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## Key numbers

- Business trend: Getting worse, from the last 12 quarters
- Price: ₹697.50 (+8.5% in a year)
- P/E: 84.7× (higher than 81% of the last 2 years)
- Revenue (Sep 2026): ₹1,148 Cr (+16.0% on a year ago)
- Profit (Sep 2026): ₹69.0 Cr (+9.5% on a year ago)
- Operating margin: 12.0% (−1.0 points on a year ago)
- ROCE: 18%, FY26
- ROIC: 10.2%, against a 12.0% cost of capital: −1.8 points

The main question: profits are rising, but only −31% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Allied Blenders & Distillers share price today? Allied Blenders & Distillers Ltd's share price was ₹697.50 at the close on 4 November 2026. It has been rising for 23 weeks. That is 15.8% above its average price over the last 200 trading days. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 10 weeks in a row. In the last 52 weeks it traded between ₹397 and ₹749, and at that close it sat 85% of the way up from that low. Over the last 2.3 years the share price moved +103% while the NIFTY 500 moved −5%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Allied Blenders & Distillers this quarter? Three changes stood out: revenue up on a year earlier for 9 quarters in a row, indian funds and insurers (DIIs) raised their stake for 4 quarters in a row and profit grew again in the September 2026 quarter. 1. Revenue up on a year earlier for 9 quarters in a row In the September 2026 quarter revenue was ₹1,148 crore, +16% on a year earlier. 2. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row From 4.6% to 6.7% of the company by the September 2026 quarter. 3. Profit grew again in the September 2026 quarter Profit was ₹69 crore, +9.5% on a year earlier (₹63 crore), after 2 quarters of decline. ## What are Allied Blenders & Distillers' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Allied Blenders & Distillers reported revenue of ₹1,148 crore, up 16.0% from ₹990 crore a year earlier, and a profit of ₹69.0 crore, up 9.5% from ₹63.0 crore. ### Allied Blenders & Distillers results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,148 crore | ₹990 crore | +16.0% |
| Profit | ₹69.0 crore | ₹63.0 crore | +9.5% |
| Earnings per share | ₹2.56 | ₹2.30 | +11.3% |
| Operating margin | 12.0% | 13.0% | −1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Allied Blenders & Distillers' management discussed these results on a call held on 28 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Allied Blenders & Distillers share price history? Allied Blenders & Distillers closed at ₹697.50 on 4 November 2026, up 8.5% from ₹642.90 a year earlier (7 November 2025). Its highest weekly close since July 2024 was ₹748.65 on 16 October 2026. ### Allied Blenders & Distillers share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹698.25 | −0.1% |
| 1 month ago · 1 Oct 2026 | ₹679.45 | +2.7% |
| 6 months ago · 8 May 2026 | ₹591.30 | +18.0% |
| 1 year ago · 7 Nov 2025 | ₹642.90 | +8.5% |
| Earliest weekly close in our records · 5 Jul 2024 | ₹344.05 | +102.7% |
| Highest weekly close since July 2024, also the 52-week high · 16 Oct 2026 | ₹748.65 | −6.8% |
| Lowest weekly close since July 2024 · 9 Aug 2024 | ₹292.25 | +138.7% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹397.05 | +75.7% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (130 weekly closes from 5 July 2024 to 4 November 2026.)

## What is the latest news on Allied Blenders & Distillers? 4 Nov 2026: Allied Blenders & Distillers closed at ₹697.50, down 0.1% on the week and up 2.7% on the month. 28 Oct 2026: Allied Blenders & Distillers held its results call for July to September 2026. ### Earlier

- Results for July to September 2026: Revenue up 16.0% and profit up 9.5% on a year earlier. - 25 Jun 2026: ex-date for a dividend of ₹5.40 a share, record date 26 Jun 2026. - Our read, 31 May 2026: A mass-market distiller turning margin-led via premiumization and backward integration, FY26 delivered record profit, but capital spending slippages and management consistency issues cloud the FY28 operating profit path. ### Our read of the business

FY26 annual revenue ₹3,923 crore, operating profit ₹542 crore (operating margin 14%), profit ₹220 crore, seventh consecutive profitable quarter post-listing; operating margin expanded from 7% in FY24 to 14% in FY26. ,Iconic White reached 10.7 million cases FY26, P&A segment 57.7% of Q4 value; gross margin 48.2% in Q4 on premiumization and commodity tailwinds; adjusted profit ₹266 crore (+36.3% on a year earlier), highest-ever annual profit. Latest quarter: Record annual profit; capital spending slippages confirmed; three-year margin roadmap issued. (Our read after the latest results, written 31 May 2026.)

## What dividend does Allied Blenders & Distillers pay? Allied Blenders & Distillers paid ₹5.40 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.77% at the ₹697.50 close on 4 November 2026. The last was a dividend of ₹5.40 a share, ex-date 25 June 2026. ### Allied Blenders & Distillers dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 25 Jun 2026 | ₹5.40 | Dividend | 26 Jun 2026 |
| 27 Jun 2025 | ₹3.60 | Dividend | same day |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Allied Blenders & Distillers Ltd paid out 66% of its profit as dividends in FY26, and it paid a dividend in 2 of its last 7 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Allied Blenders & Distillers management say on the latest results call? On the call for July to September 2026, held on 28 October 2026, Allied Blenders & Distillers' management spoke about the quarter; the main points are below. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/49822-28-Oct-2026.pdf). (From the call for July to September 2026, 28 October 2026.)

## What is the future of Allied Blenders & Distillers? What is changing in the business? What is changing at Allied Blenders & Distillers, from the latest results and calls: premiumization mix shift (p&a segment expansion), backward integration margin accretion (phase 1) and international expansion (export asset-light model). - Premiumization Mix Shift (P&A segment expansion). P&A segment went from 42% revenue mix in July to September 2024 to 57.7% in January to March 2026; Iconic White 10.7 million cases FY26 in the prestige category. ⚠ estimate
- Backward Integration Margin Accretion (Phase 1). PET facility commissioned July to September 2025 delivering ~75 basis points gross margin accretion; 270 basis points of the 300 basis points Phase 1 goal contingent on malt distillery (H1 FY27) and ENA expansion (H1 FY28), both already slipped 1-2 quarters. ⚠ estimate
- International Expansion (Export Asset-Light Model). Export revenue grew 14.1% to ₹225 crore FY26; footprint expanded from 14 to 36 countries in 24 months, asset-light model with higher margins than domestic. ⚠ estimate
- Operating Leverage on Revenue Scaling. FY26 revenue grew 11.5% on a year earlier but operating profit grew 25.8% on a year earlier, the leverage ratio is improving as fixed cost dilution accelerates with scale. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 31 May 2026.)

## What could change the Allied Blenders & Distillers story? What are the risks? Telangana license lottery created a 6-8 week pipeline disruption causing mass premium de-growth of 7.4% in October to December 2025; Telangana receivables totaled ₹700 crore outstanding as of Nov 2025. ### The main risks

- State excise regulatory disruption (Telangana, Maharashtra model risk): Telangana license lottery created a 6-8 week pipeline disruption causing mass premium de-growth of 7.4% in October to December 2025; Telangana receivables totaled ₹700 crore outstanding as of Nov 2025. ✓ fact
- Backward integration timeline slippage (capital spending execution risk): Malt distillery and ENA expansion already slipped 1-2 quarters vs Nov 2025 guidance; further slippage would push 270 basis points of remaining Phase 1 operating profit accretion beyond FY28. ✓ fact
- Input cost headwinds (West Asia geopolitics, glass bottle inflation, fuel): Management guided FY27 H1 margin pressure from West Asia geopolitical input cost impact, glass bottle inflation, and fuel/distribution cost increases. ✓ fact
- Officer's Choice Blue / Sterling Reserve B7 market share decline: Sterling Reserve B7 de-growth persisted through October to December 2025 despite Nov 2025 guidance of trend reversal; Officer's Choice Blue decline arrest required July to September 2026 new packaging rollout. ✓ fact

(Our read after the latest results, written 31 May 2026.)

## What to watch in Allied Blenders & Distillers' next results? When Allied Blenders & Distillers reports October to December 2026, these are the 6 checks that show whether the story is still on course. First: Telangana price increase announcement and July to September 2026 revenue trend; Maharashtra volume trajectory April to June 2026. | What to check | Why |
| --- | --- |
| Telangana price increase announcement and July to September 2026 revenue trend; Maharashtra volume trajectory April to June 2026. | State excise regulatory disruption (Telangana, Maharashtra model risk) |
| Malt distillery commissioning announcement Q1-July to September 2026; ENA expansion operational status H2 FY27. | Backward integration timeline slippage (capital spending execution risk) |
| April to June 2026 operating margin trajectory vs January to March 2026 17%; Telangana price increase approval date. | Input cost headwinds (West Asia geopolitics, glass bottle inflation, fuel) |
| Sterling Reserve B7 April to June 2026 volume trend; Officer's Choice Blue market share exit-July to September 2026. | Officer's Choice Blue / Sterling Reserve B7 market share decline |
| FY27 interim operating margin progression; number of guidance revisions in next 2 calls. | Management guidance credibility discount on FY28 margin goals |
| FY27 earnings delivery vs consensus. |  |

## Which stock lists is Allied Blenders & Distillers on? Allied Blenders & Distillers is on 2 of our India lists: Momentum stocks and Small & mid cap stocks. - [Momentum stocks Market cap cr: 19510.021482277123](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 366](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Allied Blenders & Distillers profitable? Allied Blenders & Distillers Ltd earned ₹69.0 Cr of net profit in the Sep 2026 quarter, +9.5% on the same quarter a year earlier. Full-year FY26 profit was ₹220 Cr. Over 6 years profit has grown 60.2% a year on average. That is 6.0% of the quarter's revenue. The same quarter a year earlier earned ₹63.0 Cr. 2 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹220 Cr (+12.8% on the year before). Why profit moved: revenue changed +16.0% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed −12.4% and revenue +8.6%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Allied Blenders & Distillers make, and is it growing? Allied Blenders & Distillers Ltd reported ₹1,148 Cr of revenue in the Sep 2026 quarter, +16.0% on the same quarter a year earlier. That is the 9th quarter in a row with growth on the year before. Over 6 years it has grown 4.6% a year on average. The last full year, FY26, came in at ₹3,923 Cr. Why this happened. Export business operates on an asset-light distributor model with structurally higher margins than domestic IMFL. Country count expanded from 14 to 36 in 24 months. The UK FTA (if approved Q2 FY27) would create tariff benefit on premium scotch imports. CSD channel (12 million case annual market) approvals for four brands open a new domestic high-margin distribution track. The last four reported quarters add to ₹4,137 Cr. FY26 revenue was ₹3,923 Cr, +11.4% on the year before. Recent pace: the last four quarters grew +8.6% on average, against 4.6% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +8.6%, against +12.2% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −15.3%, against +101.9% a year (rolling over). ## How much of every ₹100 of sales does Allied Blenders & Distillers keep? Allied Blenders & Distillers Ltd's operating margin was 12.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 7 years it has been between 6.0% and 14.0%. The latest quarter is within that range. Why this happened. The premiumization driver is the dominant earnings engine. P&A volume grew 20.5% YoY in Q4 FY26 (4.4 million cases), with P&A segment contributing 57.7% of quarterly sales value. The gross margin differential between P&A and mass premium means every percentage point of mix shift lifts blended margins. Iconic White's 10.7 million cases FY26 is the visible anchor of this thesis; the strategy extends to Officer's Choice Blue stabilization and ABD Maestro's luxury portfolio. Why the margin moved: operating margin changed −0.6 percentage points on the year while gross margin changed +0.9 points. So the drop came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. ## Is Allied Blenders & Distillers' profit turning into cash? Over the last 3 years Allied Blenders & Distillers Ltd's operations used more cash than they brought in, so cash conversion was −31%, a gap worth watching. In FY26 it brought in ₹362 Cr of operating cash against ₹220 Cr of profit. After ₹310 Cr of spending on assets, ₹52.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −31% of profit came in as cash: the cash cycle got 90 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 90 days longer. The next section looks at where the cash is stuck. ## Where does Allied Blenders & Distillers' cash go? Allied Blenders & Distillers Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 154 days in FY26, up from 64 days in FY21. It spent ₹608 Cr on assets over the last 3 years. Customers take 168 days to pay, and stock sits for 221 days on average. At FY26 sales of ₹3,923 Cr, each day of that cycle ties up about ₹10.7 Cr, so roughly ₹1,655 Cr is tied up in the business at any time. FY26: customers took 168 days to pay and stock sat for 221 days, about 7.3 months of sales sitting as stock, for a full cycle of 154 days, longer than FY21's 64. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 221 days. Customers pay about 168 days after that. Suppliers are paid at 235 days. Together that makes the 154-day cycle. Spending on assets: ₹608 Cr over the last 3 years, against ₹198 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹110 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Allied Blenders & Distillers' P/E ratio, and how does it compare with its own history? Allied Blenders & Distillers Ltd's P/E is 84.7×, near the high end of its own history: higher than 81% of past readings. Its usual P/E (the middle reading) is 70.8×, over 2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why this happened. Phase 1 backward integration goals cumulative 300 bps EBITDA margin improvement by FY28. The PET facility has delivered the first 30 bps from Q3 FY26 onward. The remaining 270 bps require the malt distillery and ENA expansion to commission on schedule. Both have already slipped 1-2 quarters versus original commitments, introducing execution risk. Phase 2 (UP bottling, Maharashtra and Arunachal Pradesh) goals incremental 100 bps by FY29. Why the multiple is where it is: over the past year earnings per share moved +17.1% while the price moved +8.5%. Earnings did better than the price, which pulled the multiple down within its own range. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Allied Blenders & Distillers business getting better or worse? Allied Blenders & Distillers Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −15.3% in the latest quarter, against +9650.0% at its best in 12 quarters, with ROCE falling at 25.0%. This is based on 9 quarters of 4 measures. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. ## What is the Allied Blenders & Distillers story, and has it been checked? Allied Blenders & Distillers Ltd's story is not scored yet against the checks our research set on 31 May 2026. Where it sits in its own cycle: Not stated in the research file. Still open: Telangana license lottery created a 6-8 week pipeline disruption causing mass premium de-growth of 7.4% in Q3 FY26; Telangana receivables totaled Rs 700 Cr outstanding as of Nov 2025. Our read, 31 May 2026. A mass-market distiller turning margin-led via premiumization and backward integration, FY26 delivered record PAT, but capex slippages and management consistency issues cloud the FY28 EBITDA path. What is proven. A mass-market distiller turning margin-led via premiumization and backward integration, FY26 delivered record PAT, but capex slippages and management consistency issues cloud the FY28 EBITDA path. What is not proven yet. Telangana license lottery created a 6-8 week pipeline disruption causing mass premium de-growth of 7.4% in Q3 FY26; Telangana receivables totaled Rs 700 Cr outstanding as of Nov 2025. The test written in advance. State excise regulatory disruption (Telangana, Maharashtra model risk). Measured by: State excise regulatory disruption (Telangana, Maharashtra model risk) Telangana price increase announcement and Q2 FY27 revenue trend; Maharashtra volume trajectory Q1 FY27 by the next result. The test written in advance. Backward integration timeline slippage (capex execution risk). Measured by: Backward integration timeline slippage (capex execution risk) Malt distillery commissioning announcement Q1-Q2 FY27; ENA expansion operational status H2 FY27 by the next result. The test written in advance. Input cost headwinds (West Asia geopolitics, glass bottle inflation, fuel). Measured by: Input cost headwinds (West Asia geopolitics, glass bottle inflation, fuel) Q1 FY27 OPM trajectory vs Q4 FY26 17%; Telangana price increase approval date by the next result. Lever 2 · Value-added mix: building. P&A segment went from 42% revenue mix in Q2 FY25 to 57.7% in Q4 FY26; Iconic White 10.7 million cases FY26 in the prestige category. What proves it keeps working: Premiumization Mix Shift (P&A segment expansion). It stops working if Telangana price increase announcement and Q2 FY27 revenue trend; Maharashtra volume trajectory Q1 FY27. Lever 8 · Demerger or value unlock: building. PET facility commissioned Q2 FY26 delivering ~75 bps gross margin accretion; 270 bps of the 300 bps Phase 1 goal contingent on malt distillery (H1 FY27) and ENA expansion (H1 FY28), both already slipped 1-2 quarters. What proves it keeps working: Backward Integration Margin Accretion (Phase 1). It stops working if Telangana price increase announcement and Q2 FY27 revenue trend; Maharashtra volume trajectory Q1 FY27. Lever 10 · New geographies: building. Export revenue grew 14.1% to Rs 225 Cr FY26; footprint expanded from 14 to 36 countries in 24 months, asset-light model with higher margins than domestic. What proves it keeps working: International Expansion (Export Asset-Light Model). It stops working if Telangana price increase announcement and Q2 FY27 revenue trend; Maharashtra volume trajectory Q1 FY27. Lever 3 · Management change: building. FY26 revenue grew 11.5% YoY but EBITDA grew 25.8% YoY, the leverage ratio is improving as fixed cost dilution accelerates with scale. What proves it keeps working: Operating Leverage on Revenue Scaling. It stops working if Telangana price increase announcement and Q2 FY27 revenue trend; Maharashtra volume trajectory Q1 FY27. Sources: our stock research file (31 May 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Allied Blenders & Distillers management deliver what it promised? What Allied Blenders & Distillers Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Cannibalization Narrative Reversed · 28 October 2026. In the May 2026 call, management acknowledged that cannibalization existed among its premium brands. In the Oct 2026 call, management denied that regional brands were being cannibalized into Iconiq White, changing the explanation for legacy-brand weakness in a way that affects the durability of reported growth. Supply-Chain Relief Timeline Extended · 28 October 2026. In the May 2026 and Jul 2026 calls, management expected geopolitical and war-related pressure to resolve by approximately Q2, with recovery thereafter. In the Oct 2026 call, management said inflationary pressure was still present and only hoped Q4 would be better, implying that the expected relief was pushed beyond the earlier timetable and putting the FY27 margin outlook at risk. FY29 Margin Benefit Revised Upward Without Explanation · 28 October 2026. Both the May 2026 and Jul 2026 calls guided to approximately 300 basis points of benefit by FY28 and a further 100 basis points by FY29. The Oct 2026 call retained the FY28 figure but increased the FY29 incremental benefit to 150 basis points without explaining the 50-basis-point change, which is material to a margin model. ABD Maestro FY27 Revenue Ambition Revised Lower · 28 October 2026. In the May 2026 call, management indicated a next-year annual top-line ambition of at least 100 crores for ABD Maestro. In the Oct 2026 call, it stated that current-year turnover would be 80 crore, implying a 20% reduction from the earlier benchmark without explaining the change in the strategic growth outlook. Every quote above is taken word for word from the company’s own earnings calls. ## How much does Allied Blenders & Distillers earn on its capital? Allied Blenders & Distillers Ltd earned a ROCE of 18% in FY26. That is up from a low of 11% in FY21. Its return on capital used (ROIC) is 1.8 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 5.6% net margin and 0.94× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 5.6% net margin × 0.94× asset turnover × 2.50× leverage (assets divided by equity) ≈ 13.2% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 10.2% − 12.0% = −1.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 10.2% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 11.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Allied Blenders & Distillers have too much debt? Allied Blenders & Distillers Ltd has total debt of ₹1,394 Cr against shareholder equity of ₹1,658 Cr as of Sep 2026, so its debt is 0.84× its equity. Year by year, that ratio went from 2.14 in FY22 to 0.68 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Allied Blenders & Distillers shareholding pattern? Domestic institutions raised their stake in Allied Blenders & Distillers Ltd by 2.5 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 6.7% of the company. Promoters moved −2.0 points over the same period, to 79.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Why this happened. Fixed cost base (employee, manufacturing, distribution overhead) is being diluted as the revenue base scales. The structural improvement in OPM from 7% in FY24 to 14% in FY26 has been driven primarily by this operating leverage combined with premiumization mix shift. Over the last two years: Domestic institutions: +2.5 points over 8 quarters, to 6.7%; Promoters: −2.0 points over 8 quarters, to 79.0%; Foreign institutions: +1.6 points over 8 quarters, to 4.4%. Why the owners changed: domestic institutions drove it (+2.5 points), with the other side taken by promoters (−2.0 points). They raised their stake step by step. ## How far is Allied Blenders & Distillers from balance-sheet trouble? For Allied Blenders & Distillers Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Allied Blenders & Distillers rank in its industry? 47.8 out of 100, rank 9 of 16 in Alcoholic Beverages, with 93% of the evidence available. Allied Blenders & Distillers Ltd scores 47.8 out of 100 against the 16 companies it is compared with in Alcoholic Beverages, ranking 9. Relative strength against the index is 25.6%, and revenue and profit growth are weak. The four parts add up to the total exactly: 10.5 + 14.9 + 4.3 + 18.1 = 47.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Allied Blenders & Distillers compared with? Allied Blenders & Distillers ranks 9 of 16 Alcoholic Beverages companies on the 4-Factor Sector Score, with 47.8 out of 100. 1. [Radico Khaitan Ltd](https://www.sectoralpha.in/stocks/radico-khaitan-ltd) RADICO · losing its lead · Most evidence points up · 100% evidence 71.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.5/35 · Revenue 15.8% · Profit 73.8% · Operating margin change 4 points · 100% evidence Capital efficiency 22.1/25 · ROCE 24.2% · Operating margin 20% · 100% evidence Valuation 7.0/20 · P/E 68.2× · PEG 1.91 · 100% evidence Relative strength 11.9/20 · Lead over its industry 21.6% · Lead over NIFTY 500 20.6% · 1 year 30.5% · 100% evidence · 11 of 12 weeks ahead Exact sum: 30.5 + 22.1 + 7 + 11.9 = 71.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [India Glycols Ltd](https://www.sectoralpha.in/stocks/india-glycols-ltd) INDIAGLYCO · breaking out · Most evidence points up · 96% evidence 70.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.6/35 · Revenue 12% · Profit 29.9% · Operating margin change 1 points · 88% evidence Capital efficiency 15.2/25 · ROCE 12.4% · Operating margin 15% · 100% evidence Valuation 13.3/20 · P/E 7× · PEG 0.17 · 100% evidence Relative strength 20.0/20 · Lead over its industry 53.7% · Lead over NIFTY 500 51.8% · 1 year 61.8% · 100% evidence · 11 of 12 weeks ahead Exact sum: 21.6 + 15.2 + 13.3 + 20 = 70.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [IFB Agro Industries Ltd](https://www.sectoralpha.in/stocks/ifb-agro-industries-ltd) IFBAGRO · quiet · Evidence leans up · 74% evidence 64.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.2/35 · Revenue 38.9% · Profit 90.3% · Operating margin change 1 points · 88% evidence Capital efficiency 13.2/25 · ROCE 12.7% · Operating margin 8% · 100% evidence Valuation 15.5/20 · P/E 12.8× · PEG 0.33 · 65% evidence Relative strength 8.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -17.3% · 1 year -39% · 25% evidence · 0 of 12 weeks ahead Exact sum: 27.2 + 13.2 + 15.5 + 8.4 = 64.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [United Spirits Ltd](https://www.sectoralpha.in/stocks/united-spirits-ltd) UNITDSPR · quiet · Evidence leans up · 100% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.7/35 · Revenue 1.1% · Profit 12.9% · Operating margin change -1 points · 100% evidence Capital efficiency 22.6/25 · ROCE 26.4% · Operating margin 20% · 100% evidence Valuation 8.4/20 · P/E 53.5× · PEG 3.56 · 100% evidence Relative strength 9.6/20 · Lead over its industry 2.4% · Lead over NIFTY 500 1.8% · 1 year -6.8% · 100% evidence · 7 of 12 weeks ahead Exact sum: 16.7 + 22.6 + 8.4 + 9.6 = 57.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Piccadily Agro Industries Ltd](https://www.sectoralpha.in/stocks/piccadily-agro-industries-ltd) PICCADIL · quiet · Evidence leans up · 74% evidence 56.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.4/35 · Revenue 28.5% · Profit 30.6% · Operating margin change -1 points · 88% evidence Capital efficiency 15.8/25 · ROCE 18% · Operating margin 17% · 100% evidence Valuation 11.6/20 · P/E 39.2× · PEG 1.38 · 65% evidence Relative strength 9.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.8% · 1 year -17.9% · 25% evidence · 5 of 12 weeks ahead Exact sum: 19.4 + 15.8 + 11.6 + 9.8 = 56.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [G M Breweries Ltd](https://www.sectoralpha.in/stocks/g-m-breweries-ltd) GMBREW · quiet · Evidence leans up · 82% evidence 53.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 20.5% · Profit 21% · Operating margin change -2 points · 95% evidence Capital efficiency 18.4/25 · ROCE 18% · Operating margin 23% · 76% evidence Valuation 12.6/20 · P/E 10.4× · PEG n/a · 50% evidence Relative strength 3.3/20 · Lead over its industry -14.5% · Lead over NIFTY 500 -15.2% · 1 year -35.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 19.1 + 18.4 + 12.6 + 3.3 = 53.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Associated Alcohols & Breweries Ltd](https://www.sectoralpha.in/stocks/associated-alcohols-breweries-ltd) ASALCBR · basing · Evidence leans down · 81% evidence 48.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.8/35 · Revenue -5.3% · Profit -4.6% · Operating margin change -3 points · 88% evidence Capital efficiency 15.9/25 · ROCE 18% · Operating margin 11% · 100% evidence Valuation 17.4/20 · P/E 13.1× · PEG 0.96 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -30.3% · 1 year -55.9% · 25% evidence · 0 of 12 weeks ahead Exact sum: 7.8 + 15.9 + 17.4 + 7.5 = 48.6 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Globus Spirits Ltd](https://www.sectoralpha.in/stocks/globus-spirits-ltd) GLOBUSSPR · quiet · Evidence leans down · 83% evidence 47.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.6/35 · Revenue 10.8% · Profit 100% · Operating margin change -1 points · 100% evidence Capital efficiency 11.6/25 · ROCE 11.2% · Operating margin 8% · 100% evidence Valuation 10.6/20 · P/E 23× · PEG n/a · 15% evidence Relative strength 1.1/20 · Lead over its industry -22% · Lead over NIFTY 500 -22.5% · 1 year -41.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 24.6 + 11.6 + 10.6 + 1.1 = 47.9 · What this means: Earnings are strong; relative strength in its sector is -22% and the one-year return is -41.3%. 9. Allied Blenders & Distillers Ltd this page ABDL · breaking out · Evidence leans down · 93% evidence 47.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.5/35 · Revenue 8.6% · Profit -15.3% · Operating margin change -1 points · 100% evidence Capital efficiency 14.9/25 · ROCE 18.4% · Operating margin 12% · 100% evidence Valuation 4.3/20 · P/E 84.8× · PEG 4.13 · 65% evidence Relative strength 18.1/20 · Lead over its industry 26.7% · Lead over NIFTY 500 25.6% · 1 year 5.5% · 100% evidence · 8 of 12 weeks ahead Exact sum: 10.5 + 14.9 + 4.3 + 18.1 = 47.8 · What this means: Relative strength against the index is 25.6%, and revenue and profit growth are weak. 10. [United Breweries Ltd](https://www.sectoralpha.in/stocks/united-breweries-ltd) UBL · quiet · Evidence leans down · 83% evidence 47.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue 7.4% · Profit 31.9% · Operating margin change 4 points · 100% evidence Capital efficiency 10.9/25 · ROCE 10.7% · Operating margin 10% · 100% evidence Valuation 9.0/20 · P/E 71.8× · PEG n/a · 15% evidence Relative strength 5.3/20 · Lead over its industry -14.2% · Lead over NIFTY 500 -14.6% · 1 year -34.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 22.4 + 10.9 + 9 + 5.3 = 47.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Tilaknagar Industries Ltd](https://www.sectoralpha.in/stocks/tilaknagar-industries-ltd) TI · breaking out · Evidence leans down · 90% evidence 44.3 out of 100 Growth Capital Valuation Relative
12. [Asgard Alcobev Ltd](https://www.sectoralpha.in/stocks/asgard-alcobev-ltd) quiet · Evidence leans down · 61% evidence 41.6 out of 100 Growth Capital Valuation Relative
13. [Fratelli Vineyards Ltd](https://www.sectoralpha.in/stocks/fratelli-vineyards-ltd) Too little evidence to rank firmly · 50% evidence 39.9 out of 100 Growth Capital Valuation Relative
14. [Sula Vineyards Ltd](https://www.sectoralpha.in/stocks/sula-vineyards-ltd) SULA · quiet · Most evidence points down · 81% evidence 30.6 out of 100 Growth Capital Valuation Relative
15. [Som Distilleries & Breweries Ltd](https://www.sectoralpha.in/stocks/som-distilleries-breweries-ltd) SDBL · breaking out · Most evidence points down · 68% evidence 30.4 out of 100 Growth Capital Valuation Relative
16. [Jagatjit Industries Ltd](https://www.sectoralpha.in/stocks/jagatjit-industries-ltd) JAGAJITIND · losing its lead · Too little evidence to rank firmly · 49% evidence 45.0 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Alcoholic Beverages](https://www.sectoralpha.in/sectors/alcoholic-beverages), all 16 compared on one page. ## Which companies are close to Allied Blenders & Distillers in size? Allied Blenders & Distillers is the 4th largest of 16 Alcoholic Beverages companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: United Spirits, Radico Khaitan and United Breweries. Just below it: Tilaknagar Industries, Piccadily Agro Industries and India Glycols. ### Alcoholic Beverages companies close in size

1. [United Spirits Ltd](https://www.sectoralpha.in/stocks/united-spirits-ltd) ₹97,007 crore
2. [Radico Khaitan Ltd](https://www.sectoralpha.in/stocks/radico-khaitan-ltd) ₹54,757 crore
3. [United Breweries Ltd](https://www.sectoralpha.in/stocks/united-breweries-ltd) ₹31,208 crore
4. Allied Blenders & Distillers Ltd ₹19,531 crore
5. [Tilaknagar Industries Ltd](https://www.sectoralpha.in/stocks/tilaknagar-industries-ltd) ₹11,920 crore
6. [Piccadily Agro Industries Ltd](https://www.sectoralpha.in/stocks/piccadily-agro-industries-ltd) ₹5,504 crore
7. [India Glycols Ltd](https://www.sectoralpha.in/stocks/india-glycols-ltd) ₹2,223 crore

[All 16 Alcoholic Beverages companies, largest first](https://www.sectoralpha.in/sectors/alcoholic-beverages#all-companies)

### Companies close in size in other industries

1. [Sagility Ltd](https://www.sectoralpha.in/stocks/sagility-ltd) ₹19,699 crore · Miscellaneous
2. [Carborundum Universal Ltd](https://www.sectoralpha.in/stocks/carborundum-universal-ltd) ₹19,628 crore · Abrasives & Grinding Wheels
3. Allied Blenders & Distillers Ltd ₹19,531 crore
4. [Gujarat Energy Ltd](https://www.sectoralpha.in/stocks/gujarat-energy-ltd) ₹19,525 crore
5. [Indraprastha Gas Ltd](https://www.sectoralpha.in/stocks/indraprastha-gas-ltd) ₹19,487 crore · Gas Distribution

## What else do people ask about Allied Blenders & Distillers? ### What is Allied Blenders & Distillers's share price today? Allied Blenders & Distillers Ltd's share price is ₹697.50, +8.5% over the past year. The whole company is worth ₹19,517 Cr on the market. In the last 52 weeks it traded between ₹397 to ₹749; today it is 85% of the way up from the low, 15.8% above its 200-day average (as of 4 November 2026). ### What were Allied Blenders & Distillers's latest quarterly results? Allied Blenders & Distillers Ltd reported revenue of ₹1,148 Cr and net profit of ₹69.0 Cr for the Sep 2026 quarter. Revenue rose 16.0% and profit rose 9.5% compared with a year earlier. Earnings per share were ₹2.56 (as of 4 November 2026). ### What is Allied Blenders & Distillers's market cap? Allied Blenders & Distillers Ltd's market capitalisation is ₹19,517 Cr at a share price of ₹697.50. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Allied Blenders & Distillers performing? Allied Blenders & Distillers Ltd's share price has been rising for 23 weeks. In its latest quarter, revenue rose 16.0% and profit rose 9.5% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 10 weeks running (as of 4 November 2026). ### Will Allied Blenders & Distillers's share price go up? This page does not forecast Allied Blenders & Distillers Ltd's share price. What it shows instead: the share price is ₹697.50, and it has been rising for 23 weeks. Its P/E of 84.7× is higher than 81% of its own last 2 years (as of 4 November 2026). ### Who owns Allied Blenders & Distillers? Promoters own 79.0% of Allied Blenders & Distillers Ltd, foreign institutions 4.4%, domestic institutions 6.7% and the public 10.0% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 2.5 percentage points over 8 quarters (as of 4 November 2026). ### Does Allied Blenders & Distillers have too much debt? Allied Blenders & Distillers Ltd has a moderate amount of debt: its debt is 0.69× its equity, and its operating profit is 4 times its interest bill. FY26 borrowings were ₹1,151 Cr against equity of ₹1,663 Cr. Keep that borrowing in mind when reading the returns on this page (as of 4 November 2026). ### Where is Allied Blenders & Distillers in its business cycle? Allied Blenders & Distillers Ltd's FY26 operating margin was 14.0%, against a 7-year range of 6.0% to 14.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 12.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Allied Blenders & Distillers story? The main question: profits are rising, but only −31% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Allied Blenders & Distillers a stock worth studying right now? What the numbers show: Allied Blenders & Distillers Ltd's earnings have grown faster than its share price. Earnings per share grew +17.1% in a year while the price moved +8.5%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Allied Blenders & Distillers share price forecast for 2026? What is changing at Allied Blenders & Distillers, from the latest results and calls: premiumization mix shift (p&a segment expansion), backward integration margin accretion (phase 1) and international expansion (export asset-light model). What would change the story: Telangana license lottery created a 6-8 week pipeline disruption causing mass premium de-growth of 7.4% in October to December 2025; Telangana receivables totaled ₹700 crore outstanding as of Nov 2025. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

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