Integrated Filing — IndAS

General information about company

Scrip Code	507526
NSE Symbol	ASALCBR
MSEI Symbol	NOTLISTED
ISIN	INE073G01016
Name of company	Associated Alcohols & Breweries Ltd.
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-04-2025
Date of end of financial year	31-03-2026
Date of board meeting when results were approved	04-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	28-01-2026
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Type	Quarterly
Reporting Quarter	Third quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Unaudited
Segment Reporting	Multi segment
Description of single segment
Start date and time of board meeting	04-02-2026 13:00:00
End date and time of board meeting	04-02-2026 16:05:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification	Not applicable
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	Yes
No. of times funds raised during the quarter	2
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
NO

Financial Results Ind-AS

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-10-2025	01-04-2025
B	Date of end of reporting period	31-12-2025	31-12-2025
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Standalone	Standalone
1	Income
	Revenue from operations	26,454.39	79,167.85
	Other income	182.66	469.18
	Total income	26,637.05	79,637.03
2	Expenses
(a)	Cost of materials consumed	16,414.26	46,970.81
(b)	Purchases of stock-in-trade	0.00	0.00
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	(2,287.75)	(399.54)
(d)	Employee benefit expense	1,636.78	4,239.49
(e)	Finance costs	104.20	355.78
(f)	Depreciation, depletion and amortisation expense	664.78	1,791.30
(f)	Other Expenses
1	Excise duty on sale of goods	416.48	1,077.50
2	Power& Fuel	1,662.08	5,082.69
3	Other Expenses	4,462.37	11,932.93
	Total other expenses	6,540.93	18,093.12
	Total expenses	23,073.20	71,050.96
3	Total profit before exceptional items and tax	3,563.85	8,586.07
4	Exceptional items	0.00	0.00
5	Total profit before tax	3,563.85	8,586.07
6	Tax expense
7	Current tax	564.72	1,591.40
8	Deferred tax	269.07	497.48
9	Total tax expenses	833.79	2,088.88
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0.00	0.00
11	Net Profit Loss for the period from continuing operations	2,730.06	6,497.19
12	Profit (loss) from discontinued operations before tax	0.00	0.00
13	Tax expense of discontinued operations	0.00	0.00
14	Net profit (loss) from discontinued operation after tax	0.00	0.00
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0.00	0.00
16	Total profit (loss) for period	2,730.06	6,497.19
17	Other comprehensive income net of taxes	15.40	16.46
18	Total Comprehensive Income for the period	2,745.46	6,513.65
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	1,897.92	1,897.92
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	14.38	35.18
	Diluted earnings (loss) per share from continuing operations	14.06	33.85
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	14.38	35.18
	Diluted earnings (loss) per share from continuing and discontinued operations	14.06	33.85
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		Textual Information(1)

Disclosure of notes on financial results

Textual Information(1)	1. The above standalone financial results, which have been prepared in accordance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI circular dated 5 July 2016, have been reviewed by the Audit Committee in their meeting dated 04-Feb-2026 and approved by the Board of Directors at their meeting held on 04-Feb-2026. The above standalone finacial results have been subjected to limited review by the Statutory Auditors. 2. This standalone financial results have been prepared in accordance with the Indian Accounting Standards (IND AS) notified under the Companies (Indian Accounting Standards) Rules, 2015, as amended by the Companies (Indian Accounting Standards) (Amendment) Rules, 2016. 3. As reported earlier, the office of the Director General (DG) of the Competition Commission of India (CCI) conducted a search on 27 October 2021 at the Company’s registered office to examine the process of supply and sale of the Company’s Indian Made Indian Liquor (“IMIL”) products. On receipt of order from the CCI based on the investigation report of the DG alleging cartelisation in the supply of IMIL products, the company had earlier challenged the jurisdiction of the CCI on the aforesaid order before the Hon’ble Delhi High Court and based on the direction of the court, took the matter subsequently with CCI . The company has received order dated 20 March 2024 in which CCI has referred back the investigation report to DG for further investigation. The CCI has also instructed the DG to facilitate Company with a copy of the statement recorded and crossexamining the persons who had alleged the cartelisation as mentioned in the investigation report. Thereafter, the company has filed a writ before Hon’ble Madhya Pradesh High Court on the grounds of CCI's jurisdiction and challenging incidental action in the matter . The matter is seized with Hon’ble High Court and the court has directed CCI not to take any coercive action until the matter is pending before the Hon’ble High Court. 4. On September 4, 2025 the Company converted the 9,00,000 shares warrants allotted on March 28, 2024 into equity shares after the receipt of balance 75% allotment monies amounting to Rs. 32.74 crores. The funds raised from these warrants are designated for providing loans or making investments in the wholly-owned subsidiary, Associated Alcohols and Breweries (Awadh) Limited, to establish a bottling cum distillery unit in Uttar Pradesh. As of 31-Dec-2025, the funds received against the share warrants have been kept in liquid fund earmarked for the aforementioned purpose with a scheduled commercial bank. 5. On 7 October 2024, the Company has allotted 11,00,000 share warrants, each convertible into one equity share, on a preferential basis at an issue price of INR 679.00 each, upon receipt of 25% of the issue price (i.e. INR 169.75 per warrant) as warrant subscription money. Balance 75% of the issue price (i.e. INR 509.25 per warrant) shall be payable within 18 months from the allotment date, at the time of exercising the option to apply for fully paid–up equity share of INR 10 each of the Company, against each share warrant. As of 31-Dec-2025, the received fund INR 1,868.25 lakhs (i.e. INR 169.75 per warrant ) have been utilized for their intended purpose, i.e., the establishment of the Malt Plant. 6. On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed the implications of these Labour Codes on its employee benefit obligations. Based on an actuarial valuation in accordance with Ind AS 19 – Employee Benefits, the Company has recognised an incremental liability of Rs. 195.47 Lakhs in respect of its own employees as at December 31, 2025 as part of Employee Benefit Expenses. The Company is currently assessing the impact of the new Labour Codes on other aspects, including the contract workforce and other employee-related obligations. However, management is of the view that impact, if any, is unlikely to be material. Pending finalisation of definitive guidance from regulators and enactment of Central/State Rules, the Company will monitor developments closely and provide further disclosures and accounting adjustments as required under applicable Ind AS and other regulatory requirements.

Textual Information(1)

1. The above standalone financial results, which have been prepared in accordance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI circular dated 5 July 2016, have been reviewed by the Audit Committee in their meeting dated 04-Feb-2026 and approved by the Board of Directors at their meeting held on 04-Feb-2026. The above standalone finacial results have been subjected to limited review by the Statutory Auditors. 2. This standalone financial results have been prepared in accordance with the Indian Accounting Standards (IND AS) notified under the Companies (Indian Accounting Standards) Rules, 2015, as amended by the Companies (Indian Accounting Standards) (Amendment) Rules, 2016. 3. As reported earlier, the office of the Director General (DG) of the Competition Commission of India (CCI) conducted a search on 27 October 2021 at the Company’s registered office to examine the process of supply and sale of the Company’s Indian Made Indian Liquor (“IMIL”) products. On receipt of order from the CCI based on the investigation report of the DG alleging cartelisation in the supply of IMIL products, the company had earlier challenged the jurisdiction of the CCI on the aforesaid order before the Hon’ble Delhi High Court and based on the direction of the court, took the matter subsequently with CCI . The company has received order dated 20 March 2024 in which CCI has referred back the investigation report to DG for further investigation. The CCI has also instructed the DG to facilitate Company with a copy of the statement recorded and crossexamining the persons who had alleged the cartelisation as mentioned in the investigation report. Thereafter, the company has filed a writ before Hon’ble Madhya Pradesh High Court on the grounds of CCI's jurisdiction and challenging incidental action in the matter . The matter is seized with Hon’ble High Court and the court has directed CCI not to take any coercive action until the matter is pending before the Hon’ble High Court. 4. On September 4, 2025 the Company converted the 9,00,000 shares warrants allotted on March 28, 2024 into equity shares after the receipt of balance 75% allotment monies amounting to Rs. 32.74 crores. The funds raised from these warrants are designated for providing loans or making investments in the wholly-owned subsidiary, Associated Alcohols and Breweries (Awadh) Limited, to establish a bottling cum distillery unit in Uttar Pradesh. As of 31-Dec-2025, the funds received against the share warrants have been kept in liquid fund earmarked for the aforementioned purpose with a scheduled commercial bank. 5. On 7 October 2024, the Company has allotted 11,00,000 share warrants, each convertible into one equity share, on a preferential basis at an issue price of INR 679.00 each, upon receipt of 25% of the issue price (i.e. INR 169.75 per warrant) as warrant subscription money. Balance 75% of the issue price (i.e. INR 509.25 per warrant) shall be payable within 18 months from the allotment date, at the time of exercising the option to apply for fully paid–up equity share of INR 10 each of the Company, against each share warrant. As of 31-Dec-2025, the received fund INR 1,868.25 lakhs (i.e. INR 169.75 per warrant ) have been utilized for their intended purpose, i.e., the establishment of the Malt Plant. 6. On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed the implications of these Labour Codes on its employee benefit obligations. Based on an actuarial valuation in accordance with Ind AS 19 – Employee Benefits, the Company has recognised an incremental liability of Rs. 195.47 Lakhs in respect of its own employees as at December 31, 2025 as part of Employee Benefit Expenses. The Company is currently assessing the impact of the new Labour Codes on other aspects, including the contract workforce and other employee-related obligations. However, management is of the view that impact, if any, is unlikely to be material. Pending finalisation of definitive guidance from regulators and enactment of Central/State Rules, the Company will monitor developments closely and provide further disclosures and accounting adjustments as required under applicable Ind AS and other regulatory requirements.

Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-10-2025	01-04-2025
Date of end of reporting period		31-12-2025	31-12-2025
Whether results are audited or unaudited		Unaudited	Unaudited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Potable Alcohols Division	20,439.38	58,539.25
2	Ethanol Division	6,808.45	22,830.63
	Total Segment Revenue	27,247.83	81,369.88
	Less: Inter segment revenue	793.44	2,202.03
	Revenue from operations	26,454.39	79,167.85
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Potable Alcohols Division	3,598.19	8,775.15
2	Ethanol Division	177.10	441.83
	Total Profit before tax	3,775.29	9,216.98
	i. Finance cost	104.20	355.78
	ii. Other Unallocable Expenditure net off Unallocable income	107.24	275.13
	Profit before tax	3,563.85	8,586.07
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Potable Alcohols Division	36,735.56	36,735.56
2	Ethanol Division	28,251.78	28,251.78
	Total Segment Asset	64,987.34	64,987.34
	Un-allocable Assets	17,515.38	17,515.38
	Net Segment Asset	82,502.72	82,502.72
4	Segment Liabilities
	Segment Liabilities
1	Potable Alcohols Division	8,259.53	8,259.53
2	Ethanol Division	3,505.02	3,505.02
	Total Segment Liabilities	11,764.55	11,764.55
	Un-allocable Liabilities	9,283.01	9,283.01
	Net Segment Liabilities	21,047.56	21,047.56
	Disclosure of notes on segments

Other Comprehensive Income

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-10-2025	01-04-2025
B	Date of end of reporting period	31-12-2025	31-12-2025
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Remeasurement of defined benefit plan	20.57	21.99
	Total Amount of items that will not be reclassified to profit and loss	20.57	21.99
2	Income tax relating to items that will not be reclassified to profit or loss	5.17	5.53
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0.00	0.00
5	Total Other comprehensive income	15.40	16.46

Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)

Amount in (Lakhs)

Mode of Fund Raising	Preferential Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds	28-03-2024
Amount Raised	4,365.00
Report filed for Quarter ended	31-12-2025
Monitoring Agency	Not Applicable
Monitoring Agency Name, if applicable
Is there a Deviation / Variation in use of funds raised	No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation	false
Comments of the Audit Committee after review	false
Comments of the auditors, if any	false

Sr.	Original Object	Modified Object, if any	Original Allocation	Modified allocation, if any	Funds Utilised	Amount of Deviation/Variation for the quarter according to applicable object	Remarks if any
1	To provide loans and / or make investment in 100% Wholly owned Subsidiary of the company, Associated Alcohols and Breweries (Awadh) Limited for setting up a bottling cum distillery unit in the state of Utter Pradesh	NA	4,355.00	0.00	0.00	0.00

Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (2)

Amount in (Lakhs)

Mode of Fund Raising	Preferential Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds	07-10-2024
Amount Raised	1,867.00
Report filed for Quarter ended	31-12-2025
Monitoring Agency	Not Applicable
Monitoring Agency Name, if applicable
Is there a Deviation / Variation in use of funds raised	No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation	false
Comments of the Audit Committee after review	false
Comments of the auditors, if any	false

Sr.	Original Object	Modified Object, if any	Original Allocation	Modified allocation, if any	Funds Utilised	Amount of Deviation/Variation for the quarter according to applicable object	Remarks if any
1	To meet out the increased need for capital for future expansion projects, including major projects in the pipeline: the Malt plant and UP bottling cum distillery.	NA	1,857.00	0.00	1,857.00	0.00	To meet out the increased need for capital for future expansion projects, including major projects in the pipeline: the Malt plant and UP bottling cum distillery.

Signatory Details

Name of signatory	Dilip Kumar Inani
Designation of person	Chief Financial Officer
Place	Indore
Date	04-02-2026