What we do Associated Alcohols & Breweries Ltd manufactures and trades Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), Extra Neutral Alcohol (ENA), ethanol, and hand sanitizers. |
Founded in 1,989 |
Market share One of the largest liquor manufacturers in Central India with strong presence in MP and emerging national footprint. |
Problem solved Provides high-quality alcoholic beverages and ethanol to meet increasing demand in India’s growing alcohol and ethanol fuel markets. |
Top clients or who we serve Serves major IMFL and IMIL bottlers including Diageo and United Spirits; caters to B2B and B2C segments including government and retail. |
Key management Mr. Prasann Kumar Kedia (MD), Mr. Anshuman Kedia (Whole Time Director & CEO), Mr. Tushar Bhandari (Whole Time Director & CFO). |
Our journey and innovations From 1989 inception, expanded ENA capacity, diversifying into IMFL, ethanol plants, launched premium brands like Nicobar Gin and Hillfort Whisky. |
Where we operate Primarily India with key markets in Madhya Pradesh, Kerala, Delhi, West Bengal, Maharashtra, Uttar Pradesh, Jharkhand and exports to Russia. |
Top products or what we offer Produces a wide portfolio including Royal Falcon, Gold Seal, Jamaican Magic Rum, Karapov Vodka, proprietary IMFL, and ethanol for fuel blending. |
Top brands Nicobar Gin (premium crafted), Hillfort Blended Malt Whisky, Central Province Whisky, Lemount White Brandy, Karapov Vodka, Jamaican Magic Rum. |
Raw materials needed Uses diverse grains like rice, maize, jawar, barley and molasses as raw materials for spirit and ethanol production. |
Raw materials supplier Raw materials sourced directly from mandis and manufacturers across India ensuring supply security and quality. |
Recurring vs cyclical contribution Revenue is largely recurring from steady sales of spirits, ENA supplies, and ethanol with some seasonality linked to alcohol consumption patterns. |
Our industry position Strong market standing as a leading integrated liquor manufacturer with 20-25% market share in MP and top-five position in Kerala IMFL market. |
Financial highlights FY25 Revenue ₹1076 crore, Net Profit ₹81 crore; 10-year CAGR: Revenue 14%, EBITDA 15%, PAT 21%. EBITDA margin approx. 12%. |
Geographical revenue split Majority revenue from India (~99.9%) and minimal exports (~0.1%) related to IMFL products. |
Order book - |
Whats driving growth Premiumisation of product portfolio, expansion into ethanol fuel segment, geographic expansion, and strategic tie-ups drive growth. |
Our future plans Plans to expand premium IMFL offerings, enhance capacity utilization, increase pan-India presence, and develop malt and ready-to-drink products. |
Our green promise Operational ethanol plant using eco-friendly processes and co-generation reduces carbon footprint; commitment to sustainable manufacturing. |
Our people and values Company led by experienced management with a focus on ethics, compliance, and fostering a culture of transparency and innovation. |
Key challenges ahead Regulatory environment, raw material price volatility, competition, and cartel investigation risks. |
Interesting facts First company to make White Brandy; one of four exclusive Diageo manufacturing partners; operations unified on a large 150-acre site. |
Risks and strategy Risks include regulatory scrutiny and market competition; mitigated by strong compliance, diversification, and strategic partnerships. |
