Monika Alcobev FY26: Growth with working capital intensity

For FY26, total revenue was 310 crore, EBITDA was 55 crore and profit after tax was 32 crore as per the investor presentation.

EBITDA margin was 18% in FY26 versus 20% in FY25. The presentation attributes margin pressure to higher A&P spends focused on brand-building.

For FY26, the presentation shows White Spirits 55%, Brown Spirits 34%, Wine 7% and Liqueurs 4% of revenue mix.

For FY26, the presentation shows North 44%, Central and East 38%, South 9%, West 0.6% and Travel Retail and Sub-continent 9%.

The presentation states a revenue growth target of about 20% CAGR over the next 4 years and a targeted active touchpoints goal of about 20,000 by FY28.

Net working capital days increased to 472 in FY26, with receivable days of 158, inventory days of 348 and payable days of 34, as shown in the working capital slide.

Net debt to equity reduced to 0.6x in FY26 from 1.5x in FY25, as per the sustainable margins and balance sheet slide.