Kolkata-based Pincon Spirit Limited (PSL) has received shareholders' nod to invest Rs 400 crore in next two years for expansion of its liquor and FMCG businesses.
The company, in a meeting held on July 25, approved the proposal for future fund augmentation for supporting its business growth across different states of the country.
The company plans to have a pan-India presence by 2018 by entering into new states along with increasing its business volume in states like West Bengal, Karnataka, Odisha, Jharkhand, Uttarakhand and Northeastern states, PSL informed its shareholders at the EGM.
In 2014-15, PSL had sales of Rs 602.56 crore, registering a growth of 57.50 per cent.
Established in 1978, PSL has two divisions - IMFL & FMCG.
It is one of the fastest growing entities in the cheap liquor segment in India.
At present, the company holds a steady presence in eastern India, including West Bengal, and also has a strong brand existence in Uttarakhand and Karnataka.
