Liquor firm Pincon Spirits is looking at doubling its revenue to Rs 3,000 crore by 2020 as it continues to focus on mass market segments.
The company, which reported revenue of Rs 1,561.72 crore in the previous fiscal year, in an investor presentation said there is big opportunity for growth of players like Pincon Spirits as large liquor companies are vacating low-priced segment focus on premiumisation.
Pincon Spirits said it is growing at faster pace than other brands due to its bottom-of-pyramid focused business model.
In the current fiscal, Pincon Spirits is eyeing 20 per cent revenue growth through new product launches, entering new markets and consolidating its manufacturing operations and increase brand spending.
The spirits maker also plans to expand its footprint to four new southern markets of Kerala, Puducherry, Goa and Tamil Nadu.
"In the current fiscal, it will launch new whiskey in 10 states and enter Kerala," the company added.
Currently, it has presence in Karnataka, Jharkhand, Odisha, Haryana and Uttarakhand besides West Bengal with eight company owned units and four contract suppliers.
The company, which also sells edible oils, is looking at widening its FMCG presence from 9 states to pan-India.
The company has charted out a capex of Rs 300 crore during the current fiscal in enhancing distilleries capacity, increasing retail chain and expanding footprint.
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