Page 7 - Alcohol

Pernod Ricard's H1FY24 sales in Indian mkt up 4%, expects high growth in H2

French spirit maker Pernod Ricard has reported a 4 per growth in sales in the Indian market during the first half of the current financial year. The company, which follows July to June fiscal year, has witnessed a "strong market demand for spirits" in India, according to the latest earnings statement from Pernod Ricard. Moreover, a "strong growth" is expected in the second half (January to June 24) from India, which is the second largest market globally for Pernod Ricard after the US. Its international brands Jameson, Absolut and The Glenlivet reported a "very strong growth" in the Indian market during the period, the company said. Besides, its Indian whisky portfolio Seagram's which includes IMFL (Indian-made foreign liquor) brands such as Blenders Pride, Imperial Blue and Royal Stag also reported over 4 per cent growth in sales, Pernod Ricard added. The company had an "acceleration in Q2 net sales against easing comparables", according to the earnings statement. Globally in the

Sula Vineyards Q3 results: Profit up 9% at Rs 42.98 cr on strong demand

The Mumbai-headquartered company said its consolidated net profit rose to Rs 42,98 crore ($5.2 million) from Rs 39.28 million rupees year ago

Desi single malts raise the bar, pour stiff challenge to foreign peers

India's optimal weather conditions serve as a catalyst, imparting a distinctive flavour profile

Alcoholic beverages to cost more in Tamil Nadu with effect from February 1

The state-run liquor monolith Tamil Nadu State Marketing Corporation (TASMAC) on Monday announced an increase in the price of all varieties of liquor, ranging from Rs 10 to Rs 80, with effect from February 1. While a 650 ml bottle of beer will cost Rs 10 more, 180 ml (known popularly as quarter) of 'ordinary' and 'medium' range of brandy, whiskey and rum will be dearer by Rs 10 and consumers have to shell out Rs 20 more for the 'premium' range, an official release said. As per the revised schedule, alcoholic drinks, sold in higher quantities will accordingly cost more.

Kerala criticises Centre's fiscal approach, notes low alcohol tax revenue

The Kerala Government on Thursday criticised the BJP-led Centre's fiscal approach towards the state, noting that the state had to seek a solution to the financial impasse in the Supreme Court. The state government also clarified that only 3.7 per cent of Kerala's own tax revenue comes from alcohol, which is one of the lowest percentages among all states, contrasting with those where it can be as high as 22 per cent. These were part of the customary policy address which was presented before the State Assembly by Governor Arif Mohammed Khan. Khan swiftly concluded the address by reading out only its final paragraph. "My Government places the considered opinion before the Union Government that Kerala should be ensured it's well deserved share in the distribution of taxes. My Government views with concern the holding back of eligible grants and share of assistance in Centrally Sponsored Schemes. "My Government is put to added liquidity stress because of the retrospective cut in borrowi

Budget 2024-25: Bringing high spirits home on alcobev players' wish list

The Perfect Pour, a Mumbai-based wine and spirits consulting firm, urges the Budget to focus on a unified ecosystem, standardised pricing, and GST

Shares of Sula Vineyards soars 20% extending two day gains to 33.6%

Maharashtra accounts for about half of Sula's revenues and close to 60 per cent of its operating profit

Diageo India focuses on value over volumes business, says CIO Damodaran

Vikram Damodaran, Chief Innovation Officer (CIO), Diageo India, talks about the company's growth strategy and expansion plans, in an interview with Ayushman Baruah and Aneeka Chatterjee in Bengaluru

Indian alcohol cos seek elimination of 'non-tariff barriers' in EU markets

For a beverage to be considered "whisky" in the EU, it has to be at least three years or more old. For "brandy", this time is one year

Alcohol body seeks better market access for Indian products in EU markets

The CIABC has demanded that the EU should remove the non-tariff barriers which prevent the vast majority of Indian products from being sold in the EU

Alcohol association welcomes Manipur's move to lift prohibition on liquor

Seeks similar action from Bihar government to help end hooch tragedies and help state earn Rs 10,000 cr

States need to GI-tag food, beverages for better prices overseas: Industry

"The key strategic issue is to consider some number of GI-tagged products in the export basket for the state of West Bengal," Kapoor said

Party with alcohol held at Pak's Kartapur Gurudwara; action sought

Moreover, Jathedar of Takht Damdama Sahib Giani Harpreet Singh also called the incident as "unfortunate" and asked the Pakistan government to take strict action against the perpetrators

TMS Ep557: Human error in railways, alcobev sector, Ethics Committee & more

How can railways eliminate human error? Why are Indian liquor firms in high spirits? What do Q2 results reveal about India Inc's health? What is the Parliament's Ethics Committee? All answers here

Alcoholic beverage market may touch $64 billion in five years: Report

The Indian alcoholic beverage industry could reach a market size of USD 64 billion in the next five years, said a report from ISWAI. It positions India as the fifth-largest contributor to global market revenues in the near to medium term. In 2021, the AlcoBev (alcoholic beverage) industry had an estimated market size of USD 52.4 billion (Rs 3.9 lakh crore, including country liquor), which was around 2 per cent of the nominal GDP of the country, said the report titled 'Economic Value of the Indian Alcoholic Beverage Industry'. "Projections suggest the Indian alcoholic beverage industry could reach an astounding USD 64 billion over the next five years, ensuring India's position as the fifth-largest contributor to global market revenues in the near to medium term," it said. In the fiscal year 2021, the industry contributed a significant Rs 2.4 lakh crore in indirect taxes to the state governments, representing many income streams. Customs duty on alcoholic beverages alone accounted f

Sula Vineyards' net revenue up 14% to Rs 116.2 crore in September quarter

Leading wine producer Sula Vineyards Ltd on Wednesday said its net revenue from its own brands has grown to Rs 116.2 crore in the September quarter, registering an increase of 14 per cent. Its wine tourism business was up 26 per cent at Rs 12.1 crore, Sula Vineyards said in its "Sales Update Q2 & H1 FY24". According to the company, this is the "highest-ever Q2 net revenues overall as well as for the priority Own Brands and Wine Tourism businesses". Its net revenue from its own brands in the July-September quarter a year ago was at Rs 102 crore and wine tourism at Rs 9.6 crore. "The company is anticipating a strong harvest once again despite the irregular monsoon, which bodes very well for meeting the increasing demand for our elite and premium wines," it said. During the quarter, Sula also expanded the Nasik winery tasting room, to keep up with the continuing surge in visitor numbers. "The future looks even brighter as we achieved our highest ever footfall on Oct 1, 2023, with a

Alcohol beverage industry may see margin contraction in FY24: ICRA

The domestic alcohol beverages (alcobev) industry is expected to have revenue growth of 8-10 per cent in 2023-24 but operating margins may contract by 90-140 basis points due to input cost pressure, a report by rating agency ICRA stated. The industry revenues are estimated to grow, helped by volume growth and product mix benefits, the report based on a sample set of domestic alcobev companies said. "Industry operating profit margin (OPM) to contract by ~90-140 basis points in FY24 due to input cost pressure, especially grain prices and packaging materials," it said. The alcobev industry witnessed a strong revival in the last fiscal in FY23 led by a healthy demand across both segments -spirits and beer, after two consecutive pandemic-hit years of FY21 and FY22 "During Q1 FY2024, the spirits industry reported a 13 per cent YoY increase in revenues despite being the lean season for the segment, while the beer industry, despite being the peak season, witnessed a marginal decline of ~1%

Liquor industry welcomes decision to keep key alcohol ingredient out of GST

The ingredient, extra-neutral alcohol, accounts for 30-35% of the production cost for Indian-made foreign liquor

Higher taxes on beer in Maharashtra impacts consumption of beverage

Beer consumption has witnessed a slowdown due to frequent changes in taxation, impacting the pricing of the alcoholic beverage, according to the industry

GST Council 'cedes right' to states on taxing neutral alcohols: FM

Strap: GST Council has slashed rates on molasses, millet mix, cleared air on corporate guarantee