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Indage Vintners Ltd.

BSE: 522059 Sector: Consumer
NSE: N.A. ISIN Code: INE194C01019
BSE 05:30 | 01 Jan Indage Vintners Ltd
NSE 05:30 | 01 Jan Indage Vintners Ltd

Indage Vintners Ltd. (INDAGEVINTNERS) - Company History

Indage Vintners Ltd, pioneer of authentic wines in India produce a rich variety of exquisite red, white & sparkling wines. The company is engaged in producing and selling wines and liquors in the domestic and international markets. They are the first sparkling wine producing and exporting company of India, exporting to 69 countries across the globe. They oun 40 brands which include exquisite wines like Chantilli, Ivy, and the Falmboyant Marquise de Pompadour. Indage Vintners Ltd was incorporated in the year 1985 with the name Indage (India) Pvt Ltd. The company was converted into a public limited company in the year 1987. In the year 1997, the name of the company was changed to Champagne Indage Ltd and in September 2008, the company got their present name Indage Vintners Ltd. The company is part of the Indage group managed by the Chougule family, aptly known as the first family of wines in modern India. The company was involved in the producing and selling wines in the domestic market and in the engineering and the hotel business till 1996. In January 1997, as part of restructuring of the Indage Group, the hotels and the engineering division of Champagne Indage were hived off and the winery division of Champagne Vineyards Ltd was debonded and merged with the company. The company increased the production capacity of wine by 500000 Ltrs during the year 2000-01 and by 108000 Ltrs during the year 2001-02. During the year 2002-03, Indage Hotels Ltd ceased to be subsidiary of the company. The company increased the production capacity of wine by 38700 Ltrs during the year 2003-04, by 532640 Ltrs during the year 2004-05, by 3084160 Ltrs during the year 2005-06, by 1695300 Ltrs during the year 2006-07 and by 3252000 Lts during the year 2007-08. Thus the production capacity is increased to 10809100 Ltrs at the end of the financial year 2007-08. In February 2006, the Company has entered into a Memorandum of Understanding (MoU) with UK based Harvey Miller Wine Agencies Ltd (HMWA) for acquisition of a wine distribution business called McKinley Vintners. The company acquired 53% stake in Seabuckthron Indage Ltd and thus the company became a subsidiary company with effect from January 17, 2007. Also, they acquired 100% stake in Thachi Wines Pty Ltd, a South Australian company having a winery capacity of 3 million cases. During the year 2007-08, the company incorporated a wholly owned subsidiary company namely Indage Holdings Ltd in UK with the object of acquisition of global wine businesses and assets. Further, Indage Holdings Ltdncorporated a wholly owned subsidiary, Indage (UK) Ltd, to carry out trading activities in wines and other alcoholic beverages. The company entered into an arrangement with Nordic Spirits AB, a Swedish Company for acquisition of distillery assets, ownership / licensing of luxury vodka brands produced in Sweden and their distribution rights. The company through their overseas subsidiary acquired the assets of UK based wine supplier, Darlington Wines which will strengthen their global presence. Also, they acquired Australia's VineCrest, a premium boutique winery in the Barossa valley through their step down subsidiary.