Liquor Industry

Industry bodies representing more than 80 per cent of India's alcoholic beverage market have urged Telangana to clear pending payments before implementing a new early-payment discount mechanism

Alcohol makers have warned that Telangana's payment practices could leave nearly $400 million of older dues at risk of turning into bad debt

Pernod and Delhi authorities have been at loggerheads on whether the company can sell its products like Absolut vodka and Chivas Regal while being an accused in a liquor policy probe

Alcoholic beverage makers have sought a reasonable price hike from state governments to deal with pressures arising out of rising can and bottle costs due to supply chain disruptions triggered by the West Asia crisis. Confederation of Indian Alcoholic Beverage Companies (CIABC) and the Brewers Association of India (BAI) have urged states to allow revisions of IMFL (Indian Made Foreign Liquor), wine and beer products and provide interim relief measures to help manufacturers cope with rising production costs. BAI has asked state governments to allow suppliers a price increase of 15-20 per cent to partially offset the impact of rising input costs. In letters sent to state governments, BAI Director General Vinod Giri said the conflict has triggered a sharp increase in input costs across categories. "Glass bottle prices have risen by around 20 per cent, paper cartons have increased by almost 100 per cent, and materials such as LDPE, BOPP and adhesives have become costlier by 20-25 per .

The maker of Rampur whisky and Jaisalmer gin derives 5 per cent to 6 per cent of sales volumes and 9 per cent to 10 per cent of revenue from exports, of which it does not provide a regional split

Premium Scotch brand co-founded by Sanjay Dutt aims to sell 2.4 lakh cases by March 31 and expand its portfolio with five new variants

Margins were a key positive surprise, analysts said. Gross margin expanded sharply to 46.5 per cent, aided by stable ENA and grain prices and a richer product mix.

Managing Director Abhishek Khaitan said on Thursday he expects sales volume in the company's "prestige and above" business, which makes up roughly half of its total revenue, to climb over 15%

In a note starting coverage on USL with a 'Buy' rating & target of ₹1,650, Nomura said the sector is seeing a paradigm change as consumers move away from 'drinking more' to 'drinking better'.

The state excise department has busted a factory producing counterfeit Indian-made foreign liquor in Nagpur district, seizing alcohol stock and other materials valued at Rs 24.67 lakh, officials said. The excise personnel on Tuesday conducted a raid on a bungalow at Gondwana Pimpri in the Hingna area where the illegal unit was operating, an official said. They seized 1,090 litres of counterfeit liquor blend, 356 bottles of a liquor banned for sale in Maharashtra, and 90 bulk litres of another fake liquor. Equipment such as an electronic bottle sealing machine, fake labels, bottle caps, empty bottles, and a four-wheeler vehicle were also seized, the official said. A case has been registered against seven persons, he added.

Payment delays in Telangana and Maharashtra's new MML policy are straining liquor makers' cash flows, disrupting IMFL sales, and forcing companies to rethink pricing and portfolios

Triveni Engineering shares gained after the company announced its entry into Delhi's IMFL market, expanding its presence in the fast-growing premium & super-premium whisky segment.

Antique believes Radico's flagship premium whisky brand After Dark is on track to clock 3.5 million cases in FY26, up sharply from 1.9 million cases in FY25.

Alcohol manufacturers say payment delays are crippling operations, pushing working capital stress to dangerous levels and threatening supply stability

Global alcohol consumption is falling as people drink less, but India stands out with rising liquor sales and a growing market for spirits

Radico Khaitan's net profit jumps 73% to Rs 139.5 crore in Q3FY26 as white spirits like vodka and gin outpace brown spirits in driving premiumisation

Liquor stocks in focus: Radico Khaitan sees substantial long-term opportunity in premium and luxury brands owing to rising affluence, evolving preference, and rising demand for elevated experiences.

Radico Khaitan is entering a phase of strong operating leverage, with margin expansion, healthy cash flows, and a visible path to debt reduction by FY27

Jefferies has a target price of ₹2,800 per share for Radico Khaitan, ₹1,315 for United Spirits, and ₹620 for Allied Blenders

The uptick in Radico Khaitan shares came after domestic brokerage Motilal Oswal Financial Services Limited (MOFSL) initiated coverage on the stock with a 'Buy' rating.