Amrut Distilleries targets ₹750 crore revenue by 2030 on steady demand

Bengaluru-based Amrut Distilleries has set a target of achieving ₹750 crore in net revenue by 2030, riding on steady demand across its mass-market and premium portfolios. Further, the alcobev player aims to invest about ₹12 crore over the next two fiscal years.

 

“We ended last year with net sales of around ₹550 crore. By 2030, we believe ₹700–750 crore is a realistic and achievable target,” Rakshit N Jagdale, managing director of Amrut, told Business Standard.

 

Further, he said the capacity expansion completed this year was aimed at “future-proofing” supply to support premiumisation and export-led growth. The spirits maker is ramping up its malt distillation capacity by around 30 per cent in FY26, raising annual output to approximately 1.3 million litres from 900,000 litres earlier.

 

 

The company highlighted that the planned investment will be allocated towards incremental upgrades and operational efficiencies.

 

Amrut said its growth in recent quarters has been driven primarily by its mass-market brands in Karnataka, its largest market contributing about 45 per cent to its total portfolio, alongside continued traction in the premium and luxury segments, including single malt whiskies.

 

“The mid-premium segment has remained fairly stable, but mass-market brands and luxury single malts have performed well,” added Jagdale, adding that innovation would remain focused on malt whiskies, alongside select launches in the deluxe and premium segments.

 

The company operates across 23 Indian states and is evaluating a re-entry into Andhra Pradesh once the state’s excise policy stabilises. It continues to face payment-related issues in Telangana, although its exposure in the state remains limited.

 

Internationally, the company has a presence in 67 countries and plans to expand further into Latin America, including markets such as Mexico, Brazil, Argentina and Chile.

 

As part of its premium brand-building strategy, on Friday it launched ‘Mumbai Chi Maaya’, a city-inspired limited-edition single malt, following the ‘City of Joy’ release dedicated to Kolkata.

 

“These are one-time, city-specific launches designed to capture the essence and cultural identity of a place. They are not volume drivers, but they help strengthen brand recall and consumer engagement,” he added.

 

The Mumbai edition, priced at about ₹12,500, is available only in the city and is mainly meant for gifting and collectors. The company expects similar limited editions in cities across Uttar Pradesh and Uttarakhand, adding around 5,000 extra cases, generating an estimated ₹2.5–5 crore in additional revenue, depending on the product mix.

 

Internationally, Amrut is present in over 67 countries, with key markets including the US, Europe and the UK. It plans to gradually strengthen its footprint in Latin America, including Mexico, Brazil, Chile and Argentina, where volumes remain small but strategic.

 

The company also plans to expand its presence in Canteen Stores Departments (CSDs) by introducing select deluxe and premium variants in FY26, subject to approvals. It is also exploring exclusive, curated product partnerships with hospitality chains, similar to the Taj Palace Reserve created for the Taj Palace in Mumbai.

 

On fundraising, Amrut said it continues to receive interest from multinational players but has not taken a final call. “Partnerships are something we cannot shy away from forever, but it is a decision that requires careful consideration at the family-board level.”

 

Amrut flagged concerns around high and uneven state taxation, particularly the widening tax differential between Indian-made and imported spirits in some states. Jagdale also cautioned that excessive taxation could dampen volumes, especially in the mass-market segment.

 

Despite policy uncertainties, Amrut remains optimistic about long-term demand, particularly for Indian single malts, even as global spirits markets face cyclical slowdowns.

 

In terms of revenue contribution, Karnataka is followed by sales through the Canteen Stores Department (CSD) at around 30 per cent, Kerala at about 15 per cent, and the rest of India making up the balance. Exports contribute roughly 5 per cent of overall revenues, including the UK, the US and the European Union.