Allied Blenders and Distillers Limited

rs,

+91 22 4300 1111 Email : info@abdindia.com Registered Office: 394/C, Ground Floor, Lamington Chambers, Lamington Road, Mumbai – 400004, India. T.: +91-22 6777 9777. F.: + 91-22 67779725 www.abdindia.com

1.1%

Tailwinds Strengthening ABD's Growth Trajectory GDP Growth (%) India: A Consumption Led Economy 1.1%0.7% 1.6% (2.3)% 9.2 6.5 6.4 6.4 5.4 5.0 4.8 4.2 2.9 2.8 2.0 1.9 1.6 1.1 1.0 0.6

0.7%

winds Strengthening ABD's Growth Trajectory GDP Growth (%) India: A Consumption Led Economy 1.1%0.7% 1.6% (2.3)% 9.2 6.5 6.4 6.4 5.4 5.0 4.8 4.2 2.9 2.8 2.0 1.9 1.6 1.1 1.0 0.6 1.4

1.6%

Strengthening ABD's Growth Trajectory GDP Growth (%) India: A Consumption Led Economy 1.1%0.7% 1.6% (2.3)% 9.2 6.5 6.4 6.4 5.4 5.0 4.8 4.2 2.9 2.8 2.0 1.9 1.6 1.1 1.0 0.6 1.4 1.2

9.5%

k, July 2025 India GDP constituents FY24 – RBI Handbook of Statistics on Indian Economy, Sept 2024 9.5% 33.5% 55.8% Private Consumption Fixed Capital Government Consumption Valuables Net Imports

33.5%

y 2025 India GDP constituents FY24 – RBI Handbook of Statistics on Indian Economy, Sept 2024 9.5% 33.5% 55.8% Private Consumption Fixed Capital Government Consumption Valuables Net Imports Changes

55.8%

India GDP constituents FY24 – RBI Handbook of Statistics on Indian Economy, Sept 2024 9.5% 33.5% 55.8% Private Consumption Fixed Capital Government Consumption Valuables Net Imports Changes in sto

27%

Volume Driven 1 India Spirits Volume (%) – ~420 Mn Cases 2 India Spirits Net Contribution (%) 27% 25% 3% 7% 38% Net Contribution / Volume (x) 21% 21% 39% 5% 14% 7.0 x Key Highlights •

25%

e Driven 1 India Spirits Volume (%) – ~420 Mn Cases 2 India Spirits Net Contribution (%) 27% 25% 3% 7% 38% Net Contribution / Volume (x) 21% 21% 39% 5% 14% 7.0 x Key Highlights • Prem

3%

ven 1 India Spirits Volume (%) – ~420 Mn Cases 2 India Spirits Net Contribution (%) 27% 25% 3% 7% 38% Net Contribution / Volume (x) 21% 21% 39% 5% 14% 7.0 x Key Highlights • Premium

7%

1 India Spirits Volume (%) – ~420 Mn Cases 2 India Spirits Net Contribution (%) 27% 25% 3% 7% 38% Net Contribution / Volume (x) 21% 21% 39% 5% 14% 7.0 x Key Highlights • Premium and

38%

India Spirits Volume (%) – ~420 Mn Cases 2 India Spirits Net Contribution (%) 27% 25% 3% 7% 38% Net Contribution / Volume (x) 21% 21% 39% 5% 14% 7.0 x Key Highlights • Premium and Above

“• Way forward: • Target Premium and Luxury Vodka consumers in India, while • Continue to focus on increasing footprint in penetration in expanding market share in the category Goa and Maharashtra niche markets 15 Note: Partnered with Roust Corporation to introduce the world's No.”

Sources

2

Continued improvement in operating cashflows

1

Prudent capital allocation

1

Way forward

1

Sources

GDP Growth % - IMF World Economic Outlook, July 2025 India GDP constituents FY24 – RBI Handbook of Statistics on Indian Economy, Sept 2024 9.5% 33.5% 55.8% Private Consumption Fixed Capital Government Consumption Valuables Net Imports Changes in stocks Discrepancies Drivers of Economic Growth • Easing inflation • Resilient capital market • Strong domestic consumption • Digitally skilled workforce • Trade partnerships Unlocking Premiumization: Tapping into Emerging Consumer Trends Premiumization Drivers Rising Affluent Classes Driving Premiumization 715 Population (Mn) 732 568 432 196 79 169 56 Low Income Aspirers Middle Class Rich FY21 FY31 E Changing Consumer Preferences Experiential and Social Drinking Strategic Brand Collaborations and Celebrity Endorsements Young, Urban and Aspirational Consumer Base Rising Disposable Income and Expanding Middle Class 4

Sources

Income class classification – Price 360 survey, IIM Udaipur India’s Consumption – Value and Volume Driven 1 India Spirits Volume (%) – ~420 Mn Cases 2 India Spirits Net Contribution (%) 27% 25% 3% 7% 38% Net Contribution / Volume (x) 21% 21% 39% 5% 14% 7.0 x Key Highlights • Premium and Above with 10% volume contributing ~42% of net contribution (profit) • Super-Premium to Luxury: Niche category with high growth rates 3.0 x and highest net contribution (profit) 0.2 x 0.6 x 1.0 x Cheap Mass Premium Prestige & Premium Super Premium Semi Premium to Luxury • Prestige & Semi Premium holds highest volume and profit share • ABD achieved cost leadership in Mass Premium while establishing thought leadership in the Prestige segment Sources: Industry sources and company estimations (FY25) Note: Net Contribution is gross margin less variable operating expenses 3 5 ABD’s Portfolio Price Ladder – Now Future Ready ) ₹ ( U K S l m 0 5 7 P R M 5500 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 6 M

Prudent capital allocation

• ‘Build, Buy, Partner’ for investment opportunities • Capex projects to be ROCE accretive • Funded through internal accruals and debt

Way forward

Peak capex (margin accretive) phase: • Net Debt / EBITDA < 2x • Net Debt / Equity < 0.75x ROCE (Pre-Tax): 16.9% (FY25) to 23% - 25% (FY28) FY25 Financial Transformation FY25 Financial Metrics (vs FY24) Income from Operations ₹3,541 crore FY24 : ₹3,334 crore 6.2% Y-o-Y EBITDA ₹451 crore FY24 : ₹248 crore Profit After Tax ₹195 crore FY24 : ₹2 crore 81.7% Y-o-Y Margins : 12.7% 98x Y-o-Y Margins : 5.5% Net Debt / Equity 0.5x FY24 : 1.8x Net Debt / EBITDA 1.7x FY24 : 3.0x ROCE (%) 16.9% FY24 : 16.7% (1.3)x Y-o-Y (1.3)x Y-o-Y 20 bps Y-o-Y 23 Note: ROCE (pre-tax) for FY25 based on year end Capital Employed Corporate Governance and Sustainability Initiatives Structured Governance Framework • Strong stewardship and independent oversight, with Board Committees driven by 7 independent directors having diverse expertise across industries • Segregation of ownership and management roles • Senior management with 20–35+ years of industry and multi sector experience • Long term incentives: ABD ESOS sch