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Allied Blenders and Distillers Margin Trend — Quarter by Quarter

Allied Blenders and Distillers's EBITDA margin moved from 13.1% in Q2 FY26 to 17.0% in Q4 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY2617.0%+179 bps
Q3 FY2613.6%—
Q2 FY2613.1%—

What management said about ebitda margin

G

Q4 FY26 · EBITDA margin to hold at FY26 level in FY27

Management expects FY27 EBITDA margin to be broadly in line with FY26's 14.4%, with H1 pressure from geopolitical costs offset by H2 benefits from UK FTA, Telangana price hike, and backward integration.

G

Q4 FY26 · 300 bps gross margin expansion by FY28 from backward integration

Phase 1 backward integration projects expected to contribute ~300 bps to EBITDA margin by FY28, with an additional ~100 bps from Phase 2 by FY29.

G

Q3 FY26 · EBITDA margin target of 17-18% by FY28

EBITDA margin guidance of 17-18% by FY28, backed by 300 bps gross margin expansion from backward integration and potential 200 bps from India-UK FTA.