City-based Pincon Spirits plans to invest Rs 400 crore over the next two years in ramping up new capacities.
"We will be investing about Rs 400 crore over two years. The expansion plan includes setting up two new bottling units for country spirit, raising the capacity of IMFL products in West Bengal and expanding the retail outlets across the country," Pincon CFO Arup Thakur said during the launch of premium Jamaican rum, Ultra Force.
About Rs 120 crore would be funded though internal accruals and the rest through debt, he said,
"We are looking at a Rs 35 crore to Rs 40 crore NCD (non convertible debentures) in the current financial year (2015-16) and the rest of the debt would be bank loans.
"We are also looking at revenue of Rs 1,500 crore in the next three years, which would catapult us as a pan-India player," he added.
The company was also aiming for a topline of Rs 1,500 crore in the next three years from current revenue of Rs 450 crore.
Currently the Kolkata-based company has IMFL production capacity of 1.2 million cases a year and it plans to raise it to 3 million cases over next two years.
The two new bottling units in West Bengal for country liquor business will be operational by October, company officials said.
Pincon Spirits is engaged in the business of blending, bottling and wholesale distribution of IMFL products and has presenence in five states of West Bengal, Odisha, Jharkhand, Karnataka and Uttrakhand.
The company will launch IMFL products in another four high liquor consuming states of Tamil Nadu, Andhra Pradesh, Telengana and Delhi in phases, Thakur said.
