SWC aims to triple profit in three years

Shaw Wallace has set for itself an agenda of tripling its profits in three years.

In a recent communication to Shaw Wallace executives, Vidya Manohar Chhabria, chairperson of the company, outlined a vision statement that entails SWC emerging as India's most profitable liquor company with a two-fold increase in revenues and a three-fold growth in profits in three years.

During the financial year 2003-04, while revenues of the liquor business increased by more than 20 per cent to Rs 1014 crore from Rs 840 crore in 2002-03, net profit jumped 166 per cent to Rs 46.18 crore (Rs 17.62 crore).

"We believe Shaw Wallace has the intrinsic strength to emerge as the most profitable liquor company in three years. In consultation with McKinsey we are giving shape to the new strategy which hinges on three elements "" innovation, efficient execution and empowerment of executives," Chhabria said in her message.

Shaw Wallace has also planned a series of Vision 3x3 cascade workshops across the country. During these workshops, in the next three months every executive shall meet with a top team representative to understand issues like clarity of direction, reward system and procedure for faster decisions etc.

According to the sources, Shaw Wallace's Royal Challenge recently became India's first millionaire premium whisky brand despite tough competition from domestic and multinational companies.

"A sharp focus on spirits over the last one year has led to Shaw Wallace turning in one of the best performances ever. This sets to rest all speculation about the negative outcome of restructuring exercise. We are committed to strengthen our spirits business and lead the industry by being no 1 or no 2 in every category we compete in," Chhabria added in the message.

Institutional sales is an area that Shaw Wallace has pursued in right earnest in the last few months with significant success.

The company has created special teams to drive this initiative and is confident that institutional sales will contribute significantly to its sales and revenues in the years to come.

"Shaw Wallace is looking at new organizational and strategy initiatives in the short term so that the vision is achieved," said the spokesperson of the company.