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Piccadily Agro to invest Rs 1,000 cr to expand capacity, open distillery in Scotland
Piccadily Agro, the company behind Indri Single Malt Whisky and Camikara Rum, revealed a significant investment plan of Rs 1,000 crore. This funding will fuel the expansion of their existing facilities in Haryana and the establishment of new ones in Chhattisgarh and Scotland. This ambitious move aims to solidify their presence in the premium spirits market both domestically and internationally.
Piccadily Agro to invest Rs 1000 crore in capacity expansion; new distillery in Scotland also lined up
Piccadily Agro is investing Rs 1,000 crore to expand its distillery and malt facilities in Haryana and Chhattisgarh, and establish its first global distillery in Scotland. The expansion aims to increase production capacity to 460 KLPD and solidify India's position in the global premium spirits market.
Liquor sales expected to surge beyond Diwali 2024 in key states
Liquor sales surged in October fueled by festive occasions and gifting trends, with states like West Bengal, Delhi, and Telangana reporting significant increases. Improved brand availability and structural changes in excise policies also boosted demand. Companies expect continued growth through the wedding season and Christmas-New Year period.
Consistent policies will help improve ease of doing business: Bacardi India MD Vinay Golikeri
Vinay Golikeri, MD of Bacardi India, said ease of business would improve with consistent regulatory policies across states. Bacardi India is doubling investments in manufacturing and innovation. Key growth drivers include economic growth, premiumisation, and a young demographic. New products like Teeling Irish whisky and Grey Goose Altius are being introduced.
Triveni Engineering enters IMFL business; launches whiskey brands in UP
Triveni Engineering & Industries Ltd. has launched premium and super premium whisky brands in Uttar Pradesh. Named 'Matsya Triple Reserve Blended Whisky' and 'The Crafters Stamp Rare Artisan Blended Whisky,' they have production capacities of 1,35,000 liters and 4,20,000 liters annually. The rollout is set to complete by FY'26, covering over 5000 retail outlets.
Is Bajaj Auto's statement an indication of how the festive season is panning out? 15 stocks where investors need to be watchful
A simple statement by a two-wheeler major that “the festive season is not panning out as expected” saw its stock tank 11% in a single session. Other players in the same space also witnessed sharp falls. One can argue that a large-cap stock with close to 100% gain in the last year is prone to such a correction. But it is also an indication that things are priced to perfection. A slight disappointment, and the reaction will be strong as valuations are either high or very high. There is nothing called value in the market. This begs the question: Is Bajaj Auto’s experience a one-off – something only a part of the auto industry is witnessing? Or is it an indication of broader festive season spending – or the lack thereof?
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Festive spirit moves Indians to travel more
Indian travellers are spending more on travel this festive season. They prefer longer stays. Domestic flight bookings have surged by 60%. International destinations like Thailand and Georgia see a 70-80% increase in bookings. Tier-2 city travels are up. Airfares on popular routes have risen, while lower oil prices have made some routes more affordable.
Amazon Great Indian Festival Sale 2024: Amazing Offers and Discounts on Premium Beauty and Skin Care Products
The Amazon Great Indian Festival Sale 2024 offers significant discounts on fashion and beauty products. Shoppers can find deals on clothing, accessories, skincare, and makeup from top brands. The sale starts on September 27, 2024, with early access for Prime members from September 26. Highlights include products from Shiseido, Rom&Nd, Anomaly, and The Face Shop.
New Maharaja drinks launches made-in-India blends for UK market
Maharaja Drinks, a new company, launched in London to introduce a variety of Indian-crafted drinks to the UK market. The venture aims to bring authentic Indian wines, beers, teas, and coffees while promoting sustainable production methods. The company targets both UK-born Indians and adventurous Gen Z and millennial consumers.
India's affluent class boosts high-end spirits sales, outpacing US and China's consumption rates: Swiss researcher
India's affluent class is driving a surge in high-end spirits sales, with Scotch whisky and fine wines showing double-digit growth. According to Simon Joseph, India's luxury Scotch whisky market is growing at 16% CAGR up to 2024. The country has become the fifth-largest market for luxury Scotch whisky.
Make-in-India spirits poised for global growth; focus on global expansion, premiumization, innovation and collaboration
The sector is a critical economic driver, with an estimated domestic volume of 390 million cases of branded spirits and an excise revenue contribution of Rs 3.4 lakh crores.
Liquor at ₹99 or less: High on spirits, Naidu removes hiccups in Andhra alcohol flow
Starting October 1, Andhra Pradesh will privatise liquor vends, extend shop hours, introduce low-priced liquor, and establish premium stores. The new policy aims to increase excise revenue by over ₹2,000 crore and streamline sales. The government will exit liquor sale and retail privatisation through a draw of lots.
India largest market by volume, 2nd largest by value for French spirit maker Pernod Ricard
India has become the largest market by volume and second-largest by value for French spirit maker Pernod Ricard. The company, known for brands like Chivas Regal and Glenlivet, reported a 6.1% growth in net sales in FY24. India now contributes 12% to Pernod Ricard's global revenue, focusing on premiumisation and expanding exports.
Pernod Ricard now India's biggest alcohol firm: MD Jean Touboul
Pernod Ricard India has become the country's largest alcohol firm by revenue, surpassing Diageo. The company's growth is driven by higher sales of its scotch brand 100 Pipers and Indian-made foreign liquor brands Blenders Pride and Royal Stag. Despite consumer pressures, India's resilience has contributed to Pernod Ricard's strong performance.
Karan Taurani on impact of Pernod Ricard's potential sale of Imperial Blue on Indian whiskey market
If some local players comes in and if they try to undercut in terms of pricing or if they kind of try to compete very aggressively in terms of BTL spends you could see a negative impact for McDowell's and UNSP.
India's scale offers Diageo huge growth opportunity: Diageo's Debra Crew
Diageo Plc's global CEO Debra Crew highlights India as the company's top growth priority, driven by younger women increasingly consuming premium spirits. With significant investments and a focus on premiumisation, Diageo aims to capitalize on India's expanding legal drinking age population and rising discretionary spending.
Allied Blenders partners Ranveer Singh to start new venture in premium segment
Allied Blenders and Distillers has teamed up with Bollywood star Ranveer Singh to launch a new venture focused on premium brands. The initiative aims to cater to the growing demand for luxury spirits in India, leveraging ABDL's sales and manufacturing networks and collaborating with Indian start-ups and international brands.
India to ship Rs 8,000 cr worth of alcoholic beverages in next few years: APEDA
The Indian government plans to promote Indian alcoholic and non-alcoholic beverages internationally, aiming for $1 billion in exports. Currently ranked 40th in the world for alcoholic beverage exports, India sees huge potential. Major destinations include UAE, Singapore, and Europe. Diageo India will launch 'Godawan' single-malt whisky in the UK.
After a sober quarter, liquor companies hope for a Patiala high in second half
In India, the June quarter saw stable liquor demand with a decline in brandy and rum consumption. Despite a slight increase in whisky sales, the market faced supply chain disruptions due to elections and higher excise duties in Karnataka. Premium brands continued to show growth, boosted by younger consumers opting for higher-priced options.
Diageo submits financial documents in Delhi police investigation, source says
Diageo's Indian unit submitted documents to New Delhi police in a probe about billing and discount practices between 2017 and 2020 involving government liquor shops. CEO Hina Nagarajan was summoned but didn't appear personally. Diageo calls the case a routine exercise and is cooperating with the authorities.
Officer's Choice maker Allied Blenders in talks to partner global spirits firms to prop up portfolio
The talks, if fructify, will help ABD to widen its product portfolio from largely whisky to a host of spirit segments such as vodka and scotch, while the two global companies will get an entry into the world's biggest alcohol consuming country with a strong partner which has robust distribution and manufacturing capabilities, the executives said.
Diageo India refuses its Delhi police has summoned CEO in liquor payments case, acknowledges receiving a notice
Diageo India rebutted claims that its CEO was summoned by Delhi police over billing and discounts practices from 2017-2020. While Reuters reported an investigative notice, Diageo clarified it pertained to routine information requests received by multiple manufacturers. The CEO has been asked to provide documents but is not the focus of the investigation. They are cooperating with authorities as usual.
Raise the Spirits: Whisky and rum dominate India's rising thirst for premium alcohol
India's alcohol beverage market has evolved beyond sheer volume, now ranking 5th globally in revenue contribution at 3.1%. Alongside China, it offers substantial volumes while showing a growing appetite for premium products amidst rapid urbanization and youthful aspirations. The industry spans 736 million 9-litre cases, predominantly led by brown spirits like whisky and rum. Indian single malts hold a significant share domestically and are poised for increased exports. Despite challenges like complex state-level regulations, the sector supports millions of livelihoods and contributes significantly to state revenues, urging for streamlined policies to foster growth and investment.
Scotch, premium foreign whiskies see fall in sales growth as Indians go for local whisky
To be sure, within imported whiskey, premium and super-premium brands have still performed well but value or entry level brands, which mostly compete with Indian malts, took a hit. The high base effect also came into play.
Indians like to have a swig of premium beer
Premium beers significantly outpaced the overall beer market in FY24, with a 25-30% volume growth compared to the 8-10% growth of the beer category. Bira91's Taproom pubs in Ludhiana are finding success with flavored premium beers, challenging stereotypes in Punjab. Companies like United Breweries and AB InBev are capitalizing on the trend, with the Indian beer market projected to reach Rs 62,240 crore by 2028, driven by premiumization and changing consumer preferences.
From spirits to simplification: Diageo India to slim down Mallya-era overseas subsidiaries for a better high
Diageo first bought a stake in USL in 2012, taking its holding to a majority by the following year. Mallya stepped down from USL in 2016 and left India that year amid loan repayment troubles at Kingfisher Airlines. At the time, USL had nearly two dozen subsidiaries, joint ventures and associate companies, half of them in the UK, where Mallya has currently exiled himself.
A third of the 30 fastest growing spirits brands in the world are Indian, says new report
While Iconiq White Whisky by Allied Blenders and Distillers sold 1.6 million cases in 2023 to top the list, it's not just whisky brands that are performing well. Three brandy brands - Courier Napoleon and Mansion House brandy by Tilaknagar Industries, Radico Khaitan's brandy Morpheus, vodka brand Magic Moments and rum 1965 – are from India, indicating that spirits trends are diverse.
Sanjiv Bhasin picks top stocks that may outperform in near term
We think the market has retraced very sharply, more sharply than we thought. This is not the time to be too brave, be watchful of what stocks you buy. ABFRL was a darling stock, in the last three days it is up 30%, so has been AB Capital and Vodafone. We think that group is being re-rated. Look for any opportunities to buy.
Sterling Reserve maker Allied Blenders may hit D-Street with Rs 1,500 crore IPO in June
The Mumbai-based company, known for Officer's Choice and Sterling Reserve whisky, refiled its draft red herring prospectus (DRHP) in January and received regulatory approval on May 10. The IPO comprises a ₹1,000-crore fresh issue and a ₹500 crore offer for sale. The company had initially filed its DRHP with the market regulator in June 2022 to raise ₹2,000 crore.
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