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ABD Records Strong Profits Led by Robust Premiumization

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Allied Blenders and Distillers Limited (ABD) has announced its unaudited financial results for the
quarter Q3FY26. The steady improvement in profitability for the third quarter of FY26 is driven by
sustained premiumisation and expansion across domestic and international markets.
The company posted an EBITDA of ₹137 crore in Q3FY26, marking a 14.1% year-on-year (YoY)
growth. Profit after tax (PAT) stood at ₹64 crore, up 10.9% YoY, reflecting margin expansion
supported by a richer product mix and operational efficiencies.
Commenting on the results, Alok Gupta, Managing Director of ABD, stated, “This marks our
6 th  consecutive quarter of strong performance post-listing, with consistent improvement in portfolio
premiumization and margin enhancement. Our Prestige & Above segment continues to deliver
accelerated momentum, with strengthening volume and value salience across regions. The strategic
investments in two key states validates our focus on strengthening manufacturing infrastructure and
supply chain efficiencies. Additionally, ABD Maestro is successfully expanding its luxury portfolio
offerings and also broadening its horizons through luxury expansion into Duty-Free and international
markets. With the normalisation in the key southern states, we expect strong topline growth in
fourth quarter, underpinned by our focus on consumer-centric growth and disciplined cost
management.”
Premium & Above Portfolio Drives Growth
ABD’s Prestige & Above (P&A) portfolio continued to anchor its premiumisation strategy. The
segment delivered 9.0 million cases in Q3FY26, compared to 8.9 million cases in Q3FY25, registering
a 1.3% YoY growth. More significantly, the P&A category grew 16.9% YoY, underscoring the shift in
consumer preference towards higher-value offerings.
The P&A segment’s volume salience rose to 48.5% in Q3FY26, up from 42.0% in Q3FY25 and 47.1%
in Q2FY26. Value salience improved to 58.8% in Q3FY26, compared to 52.1% in Q3FY25 and 56.9% in
Q2FY26. The steady increase in salience metrics highlights the company’s successful transition
towards premium and higher-margin products.
Among its key brands, ICONiQ White—recognised as the world’s fastest-growing Millionaire Spirits
Brand in 2023 and 2024—continued to maintain strong momentum domestically and has begun
expanding overseas. The brand is increasingly resonating with first-time legal drinking-age
consumers across urban markets.
ABD Maestro Strengthens Luxury Portfolio
ABD’s luxury and super-premium ambitions under its ABD Maestro platform gained traction during
the quarter with multiple new launches and market expansions.
Rangeela Vodka, a contemporary Indian vodka co-created with actor Ranveer Singh, was introduced
in November 2025 in Maharashtra and is now available in Goa, Karnataka, West Bengal, Delhi and
Haryana.
YELLO Designer Whisky, launched in December 2025, blends Scotch malts with Indian malt whiskies.
Initially launched in Maharashtra, it has since expanded into Goa, Karnataka, West Bengal and
Haryana.

AODH Irish Whiskey, also launched in December 2025, marks ABD’s entry into the fast-growing Irish
whiskey segment. The product is currently available in Haryana, Delhi, Maharashtra and Goa.
Duty-Free Retail Expansion
During Q3FY26, ABD Maestro expanded its presence in duty-free travel retail with a portfolio
introduction at Mumbai International Airport. The company’s duty-free footprint now spans major
aviation hubs including Delhi, Bengaluru and Mumbai, enhancing brand visibility among
international travellers and strengthening its premium positioning strategy.
ABD expanded its international presence to 31 countries in Q3FY26, up from 23 countries in FY25,
and is targeting 35 countries by March 2026. ICONiQ White has now been launched in nine
international markets.
The company’s super-premium to luxury brands, including Arthaus Blended Malt Scotch Whisky and
Zoya Gin, are currently available in the UAE, Ivory Coast and New Zealand, reflecting its growing
export ambitions.
Capacity Expansion and Backward Integration
In January 2026, ABD announced approval for the acquisition of assets of a non-operational
distillery-cum-bottling facility in Moradabad, Uttar Pradesh, for an aggregate consideration of ₹110
crore. The investment includes up to ₹70 crore towards acquisition and statutory costs, and up to
₹40 crore for infrastructure upgrades and setting up a bottling unit. The acquisition is expected to
strengthen backward integration, enhance bottling capacity, improve supply chain efficiencies and
support margin expansion in one of the company’s key markets.
Separately, the company announced a ₹54 crore investment to expand bottling capacity at its
existing distillery in Aurangabad, Maharashtra. The expansion is aimed at catering to growing
demand across the western region and key export markets, while driving cost optimisation and
operational agility.
International Recognition
ABD Maestro also received recognition at the International Taste Institute in January 2026 following
the sensory evaluation of three premium products. Rangeela Contemporary Indian Vodka and
PUMORI Small Batch Gin received the institute’s highest certification for exceptional quality, while
WOODBURNS Contemporary Indian Whisky was awarded certification for remarkable product
quality.
With improving profitability metrics, rising premium salience, expanded international reach and
fresh investments in manufacturing infrastructure, ABD appears well-positioned to capitalise on
India’s ongoing premiumisation trend in the spirits sector. The company’s focus on margin-accretive
growth, strategic capacity expansion and international brand building is likely to support sustained
performance in the coming quarters.

Rangeela Vodka Review

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India’s premium vodka space is heating up, and the latest entrant comes with both creative flair and serious industry backing. Rangeela Contemporary Indian Vodka, launched by ABD Maestro is a joint venture between Allied Blenders & Distillers and actor Ranveer Singh.

Positioned at ₹2,400 for a 750 ml bottle in Maharashtra, with an ABV of 42.8%, Rangeela is clearly targeting consumers who are trading up and exploring premium spirits. It is already available across key markets including Goa, Delhi, Haryana, Uttar Pradesh, Kolkata, and Bengaluru.

What’s in the Name?

ABD Maestro combines celebrity-driven creative direction with industry expertise. The venture is backed by Kishore Chhabria, Chairman of Allied Blenders & Distillers, and led by industry veteran Bikram Basu as its MD.

Rangeela itself is produced at ABD’s Aurangabad distillery and crafted using a blend of grain and grape neutral spirits. The vodka undergoes triple distillation and platinum chill filtration, processes that enhance smoothness, clarity and overall refinement.

The name ‘Rangeela’ meaning colourful and expressive, reflects the brand’s intent – to create a vodka that embodies modern India’s confident and vibrant personality – and of course Ranveer flair.

Packaging

Rangeela’s packaging strikes an interesting balance. At first glance, it feels more like a premium gin than a vodka – clean, minimal and sophisticated. But look closer, and the playful use of colour adds a distinctive identity.

The vodka comes in different coloured bottles, but don’t let that fool you. It doesn’t indicate variants – the spirit remains the same – but they reinforce the brand’s expressive positioning. The label is bold yet uncluttered, giving it strong shelf presence without appearing excessive. It’s premium, but not intimidating.

Nosing

On the nose, Rangeela delivers exactly what you expect from a premium vodka—clean, crisp, and well balanced.

There’s a gentle sweetness and a soft, neutral aroma that feels refined rather than aggressive. It signals careful distillation and quality control.

Tasting

The tasting experience is where Rangeela finds its strength. It opens clean and smooth, with a silky texture on the palate. Subtle citrus and faint grape notes emerge, adding gentle character without overpowering its clean core. There is a light natural sweetness that enhances drinkability, followed by a crisp, refreshing finish that lingers pleasantly.

Does it Fit?

Rangeela is clearly designed for India’s new-generation premium consumer—those who care about both the liquid and the brand story.

It doesn’t attempt to be overly technical or intimidating. Instead, it focuses on drinkability, identity and versatility. The combination of grain and grape neutral spirits gives it a slightly softer, more rounded mouthfeel compared to standard grain-only vodkas.

At its price point, it competes with established premium international and Indian brands, and surely has its task cutout for itself.

Verdict

Rangeela Contemporary Indian Vodka is a well-executed premium offering. It may not be designed as a technical showpiece, but it delivers where it matters most – drinkability, versatility and appeal to modern consumers. For those looking to explore a premium Indian vodka that feels contemporary, approachable, and distinctly expressive, Rangeela is worth a try for sure.