Mumbai, August
2026.
Allied Blenders and
Distillers Limited (ABD), one of India’sleading spirits companies
and the country’s largest exporter by volume, today announced that
India Ratings & Research (Ind-Ra) has upgraded the rating on the company’s bank facilities by two notches from ‘IND A’ to ‘IND
AA-’ with a Stable Outlook.
Key
Highlights:
- The upgrade reflects ABD's continued growth in consolidated
scale of operations in FY26, which Ind-Ra expects to sustain with scale
and grow further over the medium term.
- The Stable Outlook reflects Ind-Ra’s
expectation that ABD’s improved profitability is likely to
sustain, led by a better sales-mix through premiumization, leading to
enhanced gross margins. Progress in ongoing backward integration projects
is set to support EBITDA margins in the medium term. Furthermore, the
agency expects ABD’s consolidated net leverage to remain comfortable over
medium term, despite ongoing capex.
·
The rating action also factors in ABD’s strong
market position in the IMFL industry, pan-India diversification and the
expanding
size of the industry, which support thesustainability of scale and steady
improvement over the medium to long term.
Commenting on the rating upgrade, Amar
Sinha, Managing Director of ABD,stated, “This two-notch upgrade to IND AA- with a
Stable Outlook is an important affirmation of ABD’s evolving financial profile
and the sustained
progress we are making across scale, profitability and balance-sheet strength.
It reflects the discipline with which we are executing our premiumisation
agenda, improving operating
resilience and investing in long-term capabilities, including backward
integration. We remain focused on
building a stronger, more agile and future-ready
ABD while continuing to pursue growth with financial prudence
