Associated Alcohols & Breweries Ltd.

Anand Kedia And Mr. Prasann Kedia. Aabl Is One Of The Largest Distillers In India With A State

of-the-art

25%

s 12.5 Mn Cases capacity 6 proprietary brands Financial Snapshot Industry Best Return Ratios 25% ROCE Zero Net Debt Strategic Snapshot 5-year Revenue CAGR: 12% 5-year Net Profit CAGR: 28

12%

Industry Best Return Ratios 25% ROCE Zero Net Debt Strategic Snapshot 5-year Revenue CAGR: 12% 5-year Net Profit CAGR: 28% CARE Credit Rating A/A1 Long standing strategic relationship wi

28%

5% ROCE Zero Net Debt Strategic Snapshot 5-year Revenue CAGR: 12% 5-year Net Profit CAGR: 28% CARE Credit Rating A/A1 Long standing strategic relationship with Diageo - USL Diversified P

16%

l as IMIL and 6 IMFL brands. Financial Highlights 5,350 4,532 5,142 5,169 4,116 3,310 16% 14% 514 576 14% 766 20% 16% 9% 895 822 477 FY18 FY19 Revenues (INR Mn) FY20 FY21 EBI

14%

IMIL and 6 IMFL brands. Financial Highlights 5,350 4,532 5,142 5,169 4,116 3,310 16% 14% 514 576 14% 766 20% 16% 9% 895 822 477 FY18 FY19 Revenues (INR Mn) FY20 FY21 EBITDA (

20%

Financial Highlights 5,350 4,532 5,142 5,169 4,116 3,310 16% 14% 514 576 14% 766 20% 16% 9% 895 822 477 FY18 FY19 Revenues (INR Mn) FY20 FY21 EBITDA (INR Mn) FY22 9M-FY23 Ma

9%

Highlights 5,350 4,532 5,142 5,169 4,116 3,310 16% 14% 514 576 14% 766 20% 16% 9% 895 822 477 FY18 FY19 Revenues (INR Mn) FY20 FY21 EBITDA (INR Mn) FY22 9M-FY23 Margins (%)

2%

R Mn) FY20 FY21 EBITDA (INR Mn) FY22 9M-FY23 Margins (%) SEGMENTAL REVENUE BREAKUP (9M-FY23) 2% 20% 30% 26% IMIL Merchant ENA 10% 12% Contract Manufacturing Proprietary Products Licensed

30%

20 FY21 EBITDA (INR Mn) FY22 9M-FY23 Margins (%) SEGMENTAL REVENUE BREAKUP (9M-FY23) 2% 20% 30% 26% IMIL Merchant ENA 10% 12% Contract Manufacturing Proprietary Products Licensed Brands By

26%

Y21 EBITDA (INR Mn) FY22 9M-FY23 Margins (%) SEGMENTAL REVENUE BREAKUP (9M-FY23) 2% 20% 30% 26% IMIL Merchant ENA 10% 12% Contract Manufacturing Proprietary Products Licensed Brands By Produ

10%

2 9M-FY23 Margins (%) SEGMENTAL REVENUE BREAKUP (9M-FY23) 2% 20% 30% 26% IMIL Merchant ENA 10% 12% Contract Manufacturing Proprietary Products Licensed Brands By Products 4 Mr. Anand Kumar

1 Million

he day 2017 Embarked on an ambitious expansion project from 31.4 MLPA to 45 MLPA 2022 Achieved 1 Million cases in Kerala (9 months) and emerge as one of the largest player 2021 Announced Project Expans

“The India alcohol market was valued at INR 2,807,236.7 bn in 2018, and is expected to reach INR 5,482,851.3 bn by the end of 2027 exhibiting a CAGR of 7.8% for the forecast period (2019-2027).”

“Its consumption in India is expected to post a CAGR of 8.4% in value terms and 4.7% in volume terms in 2017-21.”

Registered I Corporate Office

1

CAGR

1

Profit CAGR

1

The company has capabilities of

1

The ENA Market in India

1

The IMFL Market In India

1

Market Opportunities

1

Valorem Advisors Disclaimer

1

Registered I Corporate Office

4th Floor, BPK Star Tower, A.B. Road, I ndore - 452 008, (M.P.) India Contact No. +91 731 4780400/490 Fax : +91 731 4780410 E-mail : info@aabl.in CIN : L15520MP1989PLC049380 16th March, 2023 To, The Department of Corporate Services BSE Limited PJ Tower, Dalal Street, Mumbai – 400 001 Scrip Code: 507526 To, The Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, G Block Bandra Kurla Complex, Mumbai – 400 051 NSE Symbol: ASALCBR Sub: Investor Presentation for the month of March 2023 FY 2022-23 Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find attached herewith Investor Presentation for the month of March 2023. The aforesaid presentation is also available on the website of the company www.associatedalcohols.com This is for your information and record. Thanking You Yours Faithfully, For Associated Alcohols & Breweries Limited Sumit Jaitely Company Secretary & Compliance Officer

Profit CAGR

28% CARE Credit Rating A/A1 Long standing strategic relationship with Diageo - USL Diversified Product Portfolio Expanding Proprietary Brand Reach Ongoing Capex of 40 MLPA Ethanol plant 3 Company Overview • • • • • Associated Alcohols and Breweries Ltd. (AABL) was founded by the late Shri Bhagwati Prasad Kedia in 1989. It is run today under the stewardship of his two sons, Mr. Anand Kedia and Mr. Prasann Kedia. AABL is one of the largest distillers in India with a state-of-the-art integrated alcoholic beverages manufacturing facility located in Central India near Indore, Madhya Pradesh. The company manufactures premium Extra Neutral Alcohol (ENA)/triple distilled/rectified spirit, IMIL and IMFL. AABL has diversified business segments, from manufacturing and to supply of ENA to contract manufacturing for Diageo-USL, manufacturing and marketing of licensed brands, as well as IMIL and 6 IMFL brands. Financial Highlights 5,350 4,532 5,142 5,169 4,116 3,310 16% 14% 514 576 14% 766 20% 16% 9

The company has capabilities of

   ENA manufacturing capacity of 45 MLPA 32 Bottling lines 12.5 Mn cases capacity  60% co-generation power plant The plant is strategically located from the raw material procurement security side due to the proximity to the agrarian farmlands of Madhya Pradesh and its contiguous States; as well as from a supply side as it is equidistance from large consumer markets like Maharashtra, Delhi, Kerala, Karnataka, and Chhattisgarh. The company uses various grains like Rice, Maize, Millets, and Sorghum for the manufacturing of ENA. AABL also possesses extensive land of approximately 125 acres at the current location giving enough headroom for future expansion. Capacity (MLPA) & Utilizations (%) 95% 45 80% 45 100% 45 100% 45 FY20 FY21 Installed Capacity FY22 9M-FY23 Capacity utilisation 10 Integrated Manufacturing Process Culture Yeast Grain Silo Milling Liquefaction Fermentation MPR Distillation Spent Grain Decantation Sold as cattle feed Boiler Turbine Exhaust Steam ENA / RS ENA Storage

The ENA Market in India

• According to IMARC Group’s report, the Extra Neutral alcohol (ENA) market in India reached a volume of 2.96 bn litres in 2019. In India, almost 90% of ENA is used OVERVIEW for potable alcohol, which accounts for an annual production capacity of nearly 2.7 bn litres. •

The IMFL Market In India

• • IMFL volumes are expected to reach INR 339 mn cases in CY 2022. Its consumption in India is expected to post a CAGR of 8.4% in value terms and 4.7% in volume terms in 2017-21.

Market Opportunities

• • • • • Online liquor sales have increased. Rising demand for premium and high prices alcohol due to increasing purchasing power. The rising trend of accepting alcohol drinking. Increasing the number of pubs and bar around the globe. Increasing launches of flavored alcohol by market players. 27 Financial Overview 28 Historical Income Statement Statement Particulars (INR Mn) FY20 FY21 FY22 9M-FY23 Gross Revenues Excise duty Net Revenue from Operations Total Operating Expenses EBITDA EBITDA Margins (%) Other Income Depreciation Interest Profit Before Tax Tax Profit After tax PAT Margins (%) Other Comprehensive Income Total Comprehensive Income Diluted EPS (INR) 5,350 124 5,226 4,460 766 14.66% 33 141 21 637 144 493 9.43% (9) 484 27.29 4,532 174 4,358 3,463 895 20.54% 46 141 15 785 205 580 13.31% 4 584 32.06 5,142 16 5,126 4,304 822 16.04% 142 143 9 812 204 608 11.86% 20 628 33.63 5,169 10 5,159 4,682 477 9.25% 70 112 9 426 108 318 6.16% 104 422 17.56 29 Historical Balance Sheet Particu