Medusa Beverages projects ₹250 cr FY26 revenue, 4% beer share by 2030

Medusa Beverages projects Rs 250 cr revenue in FY26, plans Rs 150 cr fundraise, brewery expansion, South India entry, kegging rollout and possible IPO in coming years

Delhi-based beer maker Medusa Beverages is targeting Rs 250 crore in revenue for FY26, projecting 100 per cent growth — slower than the 150 per cent achieved in recent years — as heavy rains dampen demand. The company also aims to capture 3–4 per cent of the domestic beer market over the next three to five years, senior executives said.

 

“Even with rains affecting production, we are on track for 100 per cent growth this fiscal year, with revenues projected between Rs 220 crore and Rs 250 crore. Our initial target was 150 per cent, in line with past performance, but weather conditions have forced a modest correction. In the larger picture, we remain confident of achieving Rs 1,200 crore in revenue by FY29,” said Avneet Singh, founder and chief executive officer of Medusa Beverages.

 

 

Singh said the company is planning to raise about Rs 150 crore in a fresh funding round during the current financial year. “A part of the fund will be deployed towards capex, remaining would be used for growth,” he noted. 

In January, the alcobev player had raised Rs 56 crore in Series A funding from a group of investors, which was channelled into scaling operations and making strategic investments in partnerships across the value chain. 

 

On the expansion front, Medusa plans to enter South India in the coming months. “We have signed a brewing contract with a facility in Karnataka, which will serve as our immediate launchpad,” Singh said. “From the same brewery, we also plan to cater to Kerala and Goa.” The agreement provides Medusa with an initial annual capacity of 2.5 lakh cases.

 

Internationally, the company has explored opportunities in the UK and Dubai but intends to produce locally rather than export. Singh said: “Beer is a local game, typically brewed within a few hundred kilometres. When we enter international markets, we will produce locally rather than ship from India. For now, our focus is on the Indian market.”

 

Recently, Medusa entered the kegging business, piloting keg distribution in restaurants. It is targeting 25 outlets in the first phase. “We have already installed tap machines in 10 restaurants, with equipment imported from Italy and the Czech Republic,” Singh said.

 

The company is also exploring initial public offering (IPO) plans but said it was “too early to disclose details.”

 

Medusa’s product portfolio includes Premium Strong beer, Air Mild Beer, House of Dragon beer in partnership with Warner Bros Discovery Global Consumer Products, and premium water.