Allied Blenders and Distillers is an Indian-made foreign liquor company. The company offers four Indian-made foreign liquor categories: whisky, brandy, rum, and vodka. In addition, they sell packaged drinking water under the Officer’s Choice, Officer’s Choice Blue, and Sterling Reserve brands.

The Officer’s Choice Whisky was introduced in 1988 as the company’s foray into the mass premium whisky market. It is one of the most-selling whisky brands in the world in terms of annual sales volumes from 2016 to 2019.

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• Among the largest IMFL companies in India with a diversified and contemporary product portfolio. It is the largest Indian owned IMFL Company and the third largest IMFL Company in India, in terms of annual sales volumes between Fiscal 2014 and Fiscal 2022.
• Strong brand recognition, since the launch of Officer’s Choice Whisky in 1988 in the mass premium segment, it has invested significant resources in enhancing the strength and appeal of the Officer’s Choice brand. Officer’s Choice Whisky is the market leader in the mass premium segment with a market share of 20.9% in terms of annual sales volumes in Fiscal 2023.
• Strategically located, large scale and advanced manufacturing facilities with a sophisticated research and development Centre.
• Experienced Board and senior management team and supported by a committed employee base.

• Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company and
• General corporate purposes.

The company is one of the leading player in IMFL segment. The management is hopeful of matching the net margin levels with its listed peers in coming two years. Currently the company is posting a very thin margins. Hence, we are neutral on this issue.