• Margin contraction factors: The drop in operating margins to 21.3% from 25.7% was driven entirely by the sugar segment, while margins in the Alcobev business remained consistent.
• Product portfolio expansion: The company plans to roll out more premium and craft products throughout the year, focusing heavily on white spirits like the recently launched Kashmir Vodka across its network of 29 Indian states and 29 countries.
• Capacity monetization: Capex monetization from the expanded Indri facility and the new Chhattisgarh greenfield plant will begin kicking in this year to address allocated demand, alongside ongoing expansions in barrel capacity and malt maturation.
• Revenue growth outlook: The company expects 60% to 70% revenue growth in FY 2027, driven by robust product demand, higher capacity utilization, and targeted export growth in the US, Asia-Pacific, Europe, and the UK.