About Associated Alcohols & Breweries Limited

Associated Alcohols & Breweries Limited (AABL) is a leading integrated alcoholic beverages manufacturer, headquartered in Madhya Pradesh and established in 1989. The Company operates across the entire liquor value chain—Indian Made Foreign Liquor (IMFL) proprietary and licensed, Indian Made Indian Liquor (IMIL), Extra Neutral Alcohol (ENA) and grain-based ethanol—anchored by a robust, single-location facility at Barwaha with 41 bottling lines, ENA capacity of 45 million litres per annum (MLPA), ethanol capacity of 40 MLPA, and an annual bottling capacity of 16 million cases. Its portfolio includes 14 proprietary brands spanning whisky, gin, vodka, brandy and rum. Strategic partnerships with global leaders complement this platform, reflecting a focus on quality and innovation.

AABL’s footprint covers key Indian states: current presence includes Madhya Pradesh, Chhattisgarh, Kerala, Delhi, Daman and West Bengal, with targeted expansion to Maharashtra, Uttar Pradesh, Goa, Puducherry and Karnataka. The Company also operates contract manufacturing units in Calicut, Kottayam and Kannur (Kerala), and Canacona (Goa), adding distribution muscle across southern and western markets.

The Group has one subsidiary (wholly owned).

Key milestones of Associated Alcohols & Breweries Limited

Key milestones include: public company formation and commencement of ENA and IMIL with BSE listing (1989–1995); partnership and bottling with United Spirits Limited (Diageo), capacity additions and expansion to Delhi (1996–2017); increased ENA capacity to 45 MLPA, entry into Kerala, and NSE listing (2018–2020); launch of Nicobar gin, achieving 1 million cases in Kerala and securing the 5th highest market share there (2023); commissioning of a 40 MLPA ethanol plant with cogeneration and the launch of Hillfort whisky (2024); and the launch of CP Vodka (Q1 FY25).

Associated Alcohols & Breweries Limited Key Management

• Prasann Kumar Kedia, Managing Director
• Anshuman Kedia, Whole Time Director & Chief Executive Officer
• Tushar Bhandari, Whole Time Director & Chief Financial Officer
• Abhinav Mathur, Company Secretary & Compliance Officer

Latest Updates on Associated Alcohols & Breweries Limited

• Portfolio launches and innovation:

Nicobar, a super-premium crafted gin, launched in Q3 FY24; Hillfort, a premium blended malt whisky, launched in Q1 FY25; CP Vodka launched in Q1 FY25.

A premium ready-to-drink (RTD) range is slated to launch in June 2025, with premium brandy and genuine tequila planned for FY 2025–26; the tequila is registered with Mexican authorities.

The Company reports that prestige and premium brands contribute 10–15% of proprietary sales, with a target to reach 50%.

• Capacity and projects:

Commercial production commenced at the 130 KLPD grain-based ethanol plant in Barwaha, Madhya Pradesh, with an investment of approximately Rs 150 crore.

 Capex of Rs 1,000 million in FY 2024–25 supported projects including the Barwaha ethanol plant, new bottling lines, and the upcoming malt plant, executed without adding debt.

• Strategic partnerships and volumes:

  Long-standing alliances with Diageo and Inbrew bolster licensed and contract manufacturing; AABL is one of only four exclusive Diageo contract manufacturing partners in India. Licensed IMFL volumes reached 1.90 million cases in FY25, up 4%.

• Market expansion:

 Expansion priorities include Maharashtra, Uttar Pradesh, Goa, Karnataka and Puducherry, with metro-first strategies for prestige brands in Mumbai, Thane and Nagpur. The Company highlights its Kerala market playbook—“Kerala Cheers”—as a benchmark in scaling and product-market fit.

• Funding and structure:

Share warrants were issued to fund a wholly owned subsidiary’s proposed bottling-cum-distillery unit in Uttar Pradesh and to establish a malt plant; as of March 31, 2025, funds were earmarked or utilised as specified.