Allied Blenders Q1 FY27 Results (NSE: ABDL)
Signal: Growth decelerated
The read
Consolidated results reflect investment phase for premiumisation: EBITDA margin contracted 55bps and PAT fell 18.7% due to supply chain disruption and higher A&P spends, while standalone business showed strong margin expansion (113bps) and PAT growth. Medium-term guidance for mid-teens topline growth.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹984 Cr | 5.8% | N/A |
| EBIT | ₹120 Cr | 1.2% | |
| Net profit | ₹45 Cr | -18.7% | |
| EBIT margin | 12.2% |
P&L walk
Consolidated revenue grew 5.8% YoY to ₹984 Cr, but EBITDA margin contracted 55bps to 12.2% due to planned A&P investments in ABD Maestro and ₹24 Cr supply chain disruption; PAT fell 18.7% to ₹45 Cr.
Key positives
- Standalone EBITDA margin expanded 113bps to 14.3%
- P&A volume salience increased to 48.2% (up 200bps) and value salience to 59.3% (up 350bps)
- ICONiQ White volume grew 33.8% to 3.1 million cases
- International footprint expanded to 39 countries
- Like-to-like consolidated EBITDA margin would have been 14.7% (+189bps) excluding supply chain impact
Key concerns
- Consolidated EBITDA margin contracted 55bps to 12.2% due to A&P investments and ₹24 Cr supply chain disruption
- Consolidated PAT declined 18.7% to ₹45 Cr
- Global supply chain disruptions impacted EBITDA by ₹24 Cr in the quarter
Research and educational content only. Not investment advice.