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The Enforcement Directorate Thursday said it has found "multiple irregularities" in the operations of TASMAC that has monopoly over liquor trade in Tamil Nadu, including "manipulation" in the tender processes and "unaccounted" cash transactions worth Rs 1,000 crore through distillery companies. The federal agency claimed in a statement that it got "evidence" suggesting these corrupt practices after it raided the employees, corporate offices of distilleries and plants of the Tamil Nadu State Marketing Corporation Limited (TASMAC) on March 6. ED sources, on the day of the raids, had said the searches were also conducted against "key associates" linked to prohibition and excise department minister Senthil Balaji. The ED said it found "incriminating" data related to transfer postings, transport and bar licence tenders, indent orders "favouring" few distillery companies, excess charge of Rs 10-30 per bottle by TASMAC outlets, with the "involvement" of TASMAC officials, during the ...
The premiumisation of the liquor industry is happening very fast, helped by trends such as growth in disposable income and young generation's aspirations to have a more elevated experience, French spirit maker Pernod Ricard India MD Jean Touboul said on Friday. The mass spirits market will continue to be there, however, it is also premiumising as people now aspire for better products as they prefer "to drink less probably but drink better stuff", Touboul said while speaking at a session during India Today Conclave here "This trend is growing in the younger generation, which means when they grow older when their disposable income grows with life, we should see this trend continuing, if not accelerating," he said. Touboul also mentioned the role of innovation and said it is very important and key for Pernod Ricard's business because if you want to interact with the consumer to evolve them, then products delivering higher value are needed. Pernod Ricard, which has launched its first .
Encouraged by the ongoing premiumisation in the alcoholic beverage (alcobev) segment, Radico Khaitan expects sales of Rs 500 crore from its luxury brands, including single malt 'Rampur' and Jaisalmer Indian Craft Gin, in the next fiscal, its Managing Director Abhishek Khaitan said. The company expects an 8-9 per cent volume growth, and value growth of around "12-15 per cent", Khaitan told PTI, adding "this year has been a good year for us, and hopefully next year should be much better." For the next fiscal, he said, "We expect the same thing, our premium PNA category (Prestige & above) should grow more than 15 per cent and we should be close to overall double-digit growth." Radico Khaitan's luxury portfolio consists of Rampur Indian Single Malt, Jaisalmer Indian Craft Gin, Sangam World Malt and Spirit of Victory 1999 Pure Malt. "For the first time in Q3 (December quarter) we achieved a turnover of Rs 100 crore (from premium) and for the nine months of FY'24, we have achieved Rs ..
The Delhi unit of Congress on Wednesday called for the formation of the Public Accounts Committee soon so that the CAG report on the previous AAP government's excise policy can be investigated, and demanded that the scope of the probe be widened to include the alleged involvement of BJP leaders in the matter. The opposition party also demanded that the remaining 13 Comptroller and Auditor General (CAG) reports on the AAP government's performance be tabled as well and discussed in the public domain. The CAG report on the 2021-22 liquor policy was tabled by the new Chief Minister Rekha Gupta of the BJP on the very second day of the first session of the newly elected Delhi Assembly on Tuesday. Addressing a press conference at the Congress' 24, Akbar Road headquarters, Delhi Congress chief Devender Yadav said the party had given a written complaint to investigating agencies on the liquor policy and had included "evidence" of BJP's "involvement" in the matter. He also asked why all 14 C
Alcoholic beverage industry body CIABC on Tuesday urged the government to consider reducing the import duty in a phased manner under the proposed free trade agreement between India and the UK. The Confederation of Indian Alcoholic Beverage Companies (CIABC) said that the government should ensure better market access for Indian products in the UK. On February 24, Commerce and Industry Minister Piyush Goyal and UK Secretary of State for Business and Trade Jonathan Reynolds announced resumption of negotiations for the proposed agreement. "The government needs to safeguard the interests of Indian liquor manufacturers while deciding on issues related to customs duty cuts and other concessions under FTAs. "Though we have already recommended to the government to cut cuts basic customs duty on spirits over a period of 10 years, we also want the government to ensure better international market access and safeguard interests of Indian companies against any dumping of products through transfe
Alcoholic beverages makers' body CIABC on Saturday urged the government to impose stringent measures to curb dumping of imported spirits and ensure greater market access for domestic products. The Confederation of Indian Alcoholic Beverage Companies (CIABC) said the Indian liquor manufacturers are not against reduction in import duty, though they have sought the import duty cuts in a phased manner. India on February 13 slashed import duty on bourbon whiskey to 100 per cent. It is mainly imported from the US. The confederation "has urged the government to address the concerns of the Indian companies and ensure a level-playing field in FTA (free trade agreement) negotiations and set in stringent effective measures to check and curb dumping of imported spirits and seeking better international access for Indian alcoholic products which face several non-tariff restrictions at present," it said in a statement. It has also requested the states to withdraw excise duty concessions given to
Liquor maker Radico Khaitan Ltd on Wednesday reported an increase of 27.05 per cent in its consolidated net profit to Rs 95.48 crore in the third quarter ended December 2024. The company had posted a consolidated net profit of Rs 75.15 crore in the October-December quarter a year ago, according to a BSE filing from Radico Khaitan. Its revenue from operations went up 8 per cent to Rs 4,440.90 crore during the quarter under review. The figure was Rs 4,111.23 crore in the corresponding quarter of the previous fiscal. In the December quarter, Radico Khaitan's total IMFL volume was at 8.36 million cases, up 15.3 per cent year-on-year. While Prestige & Above brands volume was up 17.7 per cent to 3.67 million cases and contributed to the IMFL volumes of 50.9 per cent Radico Khaitan's total expenses increased 7.32 per cent to Rs 4,312.09 crore in the December quarter. The total income of Radico Khaitan, which includes other income, in the December quarter was at Rs 4,441.98 crore, up 7.9
The Delhi government has ordered the closure of liquor shops and other establishments serving alcohol in the city from February 3 to 5, the voting day, and on February 8 when the results would be declared. A gazette notification issued recently by the Delhi excise commissioner declared "dry days" under Excise Rules-2010 for various excise licenses on the day of voting to the 70-member Delhi Assembly and the counting day. "It is ordered that dry days shall be observed (during 48 hours ending with the hour fixed for conclusion of the poll) from 6 pm of February 3 to 6 pm of February 5, and again on February 8 being the counting day on account of Assembly polls. "During the dry days, no liquor shops, hotels, restaurants, clubs and establishments selling or serving liquor, will be permitted to sell or serve liquor to anyone whosoever," said the notification. It added that non-proprietary clubs, star hotels, restaurants among others, and hotels run by anyone, even if they are issued ...
A day after the country's leading brewer United Breweries suspended supply to Telangana, beer industry body BAI on Thursday said the commercial viability of prices set by the state government has become far too stressed. The prices allowed to supplier companies are actually below the cost of goods supplied as these prices are based on the cost of production in 2018-19, said Brewers Association of India (BAI) DG Vinod Giri. On Wednesday, United Breweries Ltd (UBL), which operates with popular beer brands like Kingfisher, Kalyani Black, Heineken, and Amstel Bier, announced to suspend the supply of its beer to Telangana State Beverages Corporation with immediate effect. The decision has been taken due to the non-revision of the basic price of the company's beer from 2019-20 by Telangana State Beverages Corporation Ltd (TSBCL), resulting in huge losses in the state, said United Breweries Ltd (UBL), now controlled by Dutch multinational brewing company Heineken NV. Commenting on the ...