Page 2 - Alcohol

Near term demand triggers lacking for liquor major United Spirits

Long-term prospects promising, but there are no immediate triggers

Bihar alcohol ban prevented 2.1 mn cases of partner violence: Lancet Study

Bihar's alcohol ban in 2016 prevented 24 lakh cases of daily and weekly consumption, and 21 lakh cases of intimate partner violence, according to new research published in The Lancet Regional Health Southeast Asia journal. The ban is also estimated to have prevented 18 lakh men in the state from becoming overweight or obese, it said. A team of researchers, including those from The International Food Policy Research Institute, Poverty, Health and Nutrition Division, US, analysed data from national and district level health and household surveys. "Strict alcohol regulation policies may yield significant population level health benefits for frequent drinkers and many victims of intimate partner violence," the authors wrote. In April 2016, the Bihar Prohibition and Excise Act brought about a near complete halt on the manufacture, transport, sale, and consumption of alcohol throughout the state. The overnight launch and its strict enforcement made the ban an "attractive natural experim

Allied Blenders and Distillers gets Sebi's approval to float Rs 1500 cr IPO

The shares are offered at a face value of Rs 2 and is a mix of a fresh issue of equity shares valued at Rs 1,000 crore and an Offer-for-Sale (OFS) of shares worth Rs 500 crore by promoters

Allied Blenders Ltd gets Sebi's approval to float Rs 1,500-crore IPO

Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, has received Sebi's go-ahead to raise Rs 1,500 crore through an Initial Public Offering (IPO), an update with the markets regulator showed on Tuesday. The initial share sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters, according to the Draft Red Herring Prospectus (DRHP). As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares. Allied Blenders and Distillers Ltd, which filed preliminary IPO papers with Sebi in January, obtained its observations on May 10, the update showed. In Sebi's parlance, obtaining observations means its go-ahead to float the public issue. As per the draft papers, proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt, besides, a portion will be used for general corporate purposes. The total

Sula Vineyards Q4 results: Net profit declines 4.85% to Rs 13.55 crore

Wine producer Sula Vineyards Ltd on Wednesday reported a 4.85 per cent decline in consolidated net profit to Rs 13.55 crore in the fourth quarter ended March 2024. The company had posted a consolidated net profit of Rs 14.24 crore in the same quarter a year ago, Sula Vineyards said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 131.7 crore as against Rs 120 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 116.83 crore compared to Rs 100.83 crore in the corresponding period previous year, the company said. "Our premiumisation efforts have succeeded in raising our Elite and Premium wine share to an all-time high of 75.1 per cent in Q4, up from 71.7 per cent a year ago," Sula CEO Rajeev Samant said. Further, he said, "Our wine tourism revenues grew in double digits, for the fifth quarter in a row. Wine tourism is a top priority and we are expanding fast." Samant said after the ...

UP govt considering bars in Noida, Ghaziabad to stay open till 4 am

Bars in the two cities are allowed till 1 am now, whereas those in Gurgaon and Faridabad are permitted to stay open until 3 am

Breweries ramp up production on record sales forecast this summer

The companies ramp up production, diversify offerings on record summer sales forecast

Beer smuggling surge in Delhi this poll season, recovery of bottles doubles

Delhi police data indicated that by March of this year, 5,965 beer bottles were seized, up from the 2,117 bottles recovered last year

Pernod Ricard banks on dynamic Q4 as US and China drag on sales in Q3

But the world's No.2 western-style spirits maker on Thursday pointed to a "soft" Lunar New Year in China, when huge celebrations normally boost spirits sales

Summer cheer for beer firm United Breweries as margins remain stable

Cheaper raw material prices and growth in premium segment expected to help company

Centre asserts in SC its right to levy excise duty on industrial alcohol

Asserting its right to regulate industrial alcohol, the Centre told the Supreme Court on Thursday that legislative power to levy excise duty on alcohol not fit for human consumption but meant for industrial use lies exclusively with Parliament. Arguing before a nine-judge constitution bench headed by Chief Justice D Y Chandrachud, Attorney General R Venkataramani submitted that a "conscious decision" was taken to treat alcoholic liquors fit for human consumption and alcoholic liquors not fit for human consumption separately, with the former falling within the domain of provincial legislatures and the latter within the ambit of the federal legislature. "It is submitted that the legislative power in relation to levy excise duty upon non-potable liquor is exclusively with the Parliament, and upon potable liquor is exclusively with the Legislatures of the States," Venkataramani told the bench, also comprising Justices Hrishikesh Roy, Abhay S Oka, B V Nagarathna, J B Pardiwala, Manoj ...

'Alcohol with methanol used for making spurious liquor in Sangrur tragedy'

Alcohol containing methanol content was used for making spurious liquor which left 20 people dead in Punjab's Sangrur district, police said on Saturday. Police have arrested eight out of the 10 identified accused in connection with the Sangrur hooch tragedy, they said. The death toll due to the suspected consumption of spurious liquor in Sangrur district has climbed to 20, with six more people succumbing during treatment, officials on Saturday said. Eleven people are undergoing treatment at Patiala's Rajindra Hospital and six at the Civil Hospital in Sangrur. The officials said the casualties have been reported from Gujran, Tibbi Ravidaspura and Dhandoli Khurd villages in Dirba and Sunam blocks. A four-member special investigation team (SIT), led by Additional Director General of Police Gurinder Singh Dhillon, was set up on Saturday in connection with the incident. Addressing the media here, ADGP Dhillon said three FIRs have been lodged so far in connection with this incident. O

Alcobev industry seek clarity on brand extension vs surrogate ads

List of products sold under the same brand name as alcobev for the past three years, including details of states where they were marketed

DGCA changes rules, mandates alcohol test for 25% airport employees

A total of 189 people working at 59 Indian airports were found drunk on duty in the first half of 2023, marking a 32 percent year-on-year increase, as per the data from DGCA

Rationalise high excise duties on alcohol beverages: Iswai to state govts

ISWAI, which represents the imported premium portfolio of spirits and wine brands in India, on Monday urged state governments to rationalise high excise duties. The International Spirits & Wines Association of India (ISWAI) said manufacturers of alcohol beverages (Alco-Bev) are facing shrinking margins due to high discriminatory taxes, along with soaring inflation and import tariffs. It has urged regulators to consider an "inflation-linked model that will bring much-needed transparency and a consistent approach to state supplier pricing", said a statement from ISWAI. In some states, excise duties account for 70-80 per cent of the Maximum Retail Price (MRP), it said, adding that inflation is putting additional pressure on the industry. "As inflation rates rise in the country, the Alco-Bev sector faces significant challenges due to escalating costs of production, transportation, raw materials, and exorbitant import duties. This combination poses a dire threat to the industry's ...

Pernod Ricard's H1FY24 sales in Indian mkt up 4%, expects high growth in H2

French spirit maker Pernod Ricard has reported a 4 per growth in sales in the Indian market during the first half of the current financial year. The company, which follows July to June fiscal year, has witnessed a "strong market demand for spirits" in India, according to the latest earnings statement from Pernod Ricard. Moreover, a "strong growth" is expected in the second half (January to June 24) from India, which is the second largest market globally for Pernod Ricard after the US. Its international brands Jameson, Absolut and The Glenlivet reported a "very strong growth" in the Indian market during the period, the company said. Besides, its Indian whisky portfolio Seagram's which includes IMFL (Indian-made foreign liquor) brands such as Blenders Pride, Imperial Blue and Royal Stag also reported over 4 per cent growth in sales, Pernod Ricard added. The company had an "acceleration in Q2 net sales against easing comparables", according to the earnings statement. Globally in the

Sula Vineyards Q3 results: Profit up 9% at Rs 42.98 cr on strong demand

The Mumbai-headquartered company said its consolidated net profit rose to Rs 42,98 crore ($5.2 million) from Rs 39.28 million rupees year ago

Desi single malts raise the bar, pour stiff challenge to foreign peers

India's optimal weather conditions serve as a catalyst, imparting a distinctive flavour profile

Alcoholic beverages to cost more in Tamil Nadu with effect from February 1

The state-run liquor monolith Tamil Nadu State Marketing Corporation (TASMAC) on Monday announced an increase in the price of all varieties of liquor, ranging from Rs 10 to Rs 80, with effect from February 1. While a 650 ml bottle of beer will cost Rs 10 more, 180 ml (known popularly as quarter) of 'ordinary' and 'medium' range of brandy, whiskey and rum will be dearer by Rs 10 and consumers have to shell out Rs 20 more for the 'premium' range, an official release said. As per the revised schedule, alcoholic drinks, sold in higher quantities will accordingly cost more.

Kerala criticises Centre's fiscal approach, notes low alcohol tax revenue

The Kerala Government on Thursday criticised the BJP-led Centre's fiscal approach towards the state, noting that the state had to seek a solution to the financial impasse in the Supreme Court. The state government also clarified that only 3.7 per cent of Kerala's own tax revenue comes from alcohol, which is one of the lowest percentages among all states, contrasting with those where it can be as high as 22 per cent. These were part of the customary policy address which was presented before the State Assembly by Governor Arif Mohammed Khan. Khan swiftly concluded the address by reading out only its final paragraph. "My Government places the considered opinion before the Union Government that Kerala should be ensured it's well deserved share in the distribution of taxes. My Government views with concern the holding back of eligible grants and share of assistance in Centrally Sponsored Schemes. "My Government is put to added liquidity stress because of the retrospective cut in borrowi