Revenue & Margin MomentumConsistent high revenue growth and improving gross and net margins reflect durable demand for branded spirits and effective cost control. This supports premiumization, scale benefits and sustained profitability, enabling reinvestment in brands and long-term margin expansion across cycles.
Cash GenerationA turnaround to positive free cash flow and healthy operating cash conversion signals better working-capital and capex discipline. Reliable cash generation increases flexibility to fund marketing, capacity, deleveraging or dividends without dependence on external financing over the medium term.
Balance Sheet StrengthA solid equity position with reasonable leverage and rising ROE provides financial resilience. Manageable debt levels lower refinancing risk and give capacity to invest in production, distribution or M&A, supporting long-term growth and withstanding regulatory or cyclical shocks.