Page 4 - Liquor Firms

Liquor maker Pernod Ricard India rakes in Rs 25,000 crore revenue in FY23

Spirits maker Pernod Ricard India has posted a revenue of over Rs 25,000 for 2022-23, registering a 10 per cent growth on an annual basis. The company, which owns popular brands such as Absolut, Chivas Regal, and Glenlivet, however, saw an 8 per cent decline in profit to Rs 1,340.22 crore in FY23. It had posted a profit of Rs 1,457.98 crore in FY22. The company's consolidated revenue from operations in FY23 was Rs 25,039.47 crore, 10.1 per cent higher than Rs 22,741.40 crore a year ago, according to financial data accessed by business intelligence platform Tofler. Pernod Ricard India has paid a total excise duty of Rs 13,112.61 crore in FY23, almost 2 per cent higher than Rs 12,857.74 crore a year earlier, as per the data. The total tax deposited by Pernod Ricard during 2022-23, was at Rs 19,002 crore, which is 76 per cent (approx) of its revenue from operations towards taxes & duties (direct & indirect) to the Centre and state governments, it said. Pernod Ricard India's total

Pernod Ricard aims threefold jump in sales in Indian market by next decade

French Spirits maker Pernod Ricard expects a threefold jump in its sales in the Indian market by next decade, led by macroeconomic tailwinds, favourable demographic dividend and growing premiumisation in IMFL and imported brands here. According to Pernod Ricard India MD Jean Touboul, the Indian market, currently ranked at number two globally, has the potential to become a leader in the next 10-15 years, replacing the US market, for the company. "We are growing faster with the tailwinds in macroeconomics, in demographic and well India being the most populous country on earth, I am personally convinced that yes, we will be the market number one in Pernod Ricard at some point," Touboul told PTI. However, he also added: "I just cannot tell you if it will be in 10 years, 15 years, that is not easy to predict but my conviction is that yes, one day India will be the market number one for Pernod Ricard." Pernod Ricard is having a double-digit growth both for IMFL and strong double-digit ..

SC grants bail to executive of liquor firm in Delhi excise policy case

The Supreme Court on Friday granted bail to liquor giant Pernod Ricard's executive Benoy Babu in a money laundering case arising out of the Delhi excise policy scam. A bench of Justices Sanjiv Khanna and SVN Bhatti noted that the accused has been in custody for more than 13 months and the trial against him has still not commenced in the case. The bench also noted that there were contradictions in the case probed by the CBI and the ED with regard to Babu. "You can't keep people behind bars before trial for long. This is not proper. We still don't know how this will go. There seems to be some contradiction between what the CBI is alleging and the ED is alleging in the case," the bench told Additional Solicitor General SV Raju, appearing for the Enforcement Directorate (ED). At the outset, senior advocate Harish Salve, appearing for Babu, said it is a completely 'bogus case' against his client which is being probed by the ED. "As per the ED's case, Babu met Vijay Nair (Aam Aadmi Part

Alcohol association welcomes Manipur's move to lift prohibition on liquor

Seeks similar action from Bihar government to help end hooch tragedies and help state earn Rs 10,000 cr

Chhattisgarh polls: Major issue in 2018, liquor ban a non-starter this time

In 2022-23, the state government collected Rs 6,700 crore in revenue from liquor, surpassing the target by Rs 100 crore

DeVANS Modern Breweries enters into production tie-up with Vairagi in UP

DeVANS Modern Breweries has entered into a production tie-up with Vairagi Brewery in UP's Barabanki, further enhancing its production capacity by 24,000 KL, amounting to 2 million cases per year, company officials said. The production tie-up comes barely a year after the company significantly boosted its production capacity through production tie-ups in Arunachal Pradesh and Jharkhand. "Uttar Pradesh is a huge beer market and DeVANS was finding it increasingly difficult to feed the market to its full potential due to capacity constraints. The Vairagi production tie up would go a long way in helping us in meeting the demand for our beers in the State," Prem Dewan, Chairman and Managing Director, DeVANS Modern Breweries Ltd, said. He said that the production partnership would also help the company avoid additional costs of import duties and freight and also enhance our overall production capacity to 1,80,600 KL. The manufacturer of iconic beer brands like Godfather, Six Fields and ..

GST Council likely to exempt distilled alcohol used to make liquor from tax

However, states adopt different practices while imposing GST on extra neutral alcohol, which is key input used to produce liquor

Dry day today on Gandhi Jayanti: All you need to know about dry days

Dry day refers to the prohibition on the sale of alcohol. Since the sale of liquor is a state subject, the laws around prohibition differ across the country

Delhi govt sold over 610 mln liquor bottles, earned Rs 7,285 cr last year

Under its current excise policy, the Delhi government earned more than Rs 7,285 crore in the last year by selling over 61 crore liquor bottles, officials said on Saturday. The excise policy (old) currently under operation since September 1, 2022, was brought by the Delhi government after its ambitious new excise policy for 2021-22 came under the CBI scanner for alleged irregularities in its implementation. The total excise revenue collection from September 1, 2022, to August 31, 2023, was Rs 7,285.15 crore, including Rs 2,013.44 crore collected as value-added tax (VAT), said an Excise Department officer. In comparison, the revenue collection from the new excise policy was Rs 5,487.58 crore in 2021-22. The new excise policy, under which private parties were involved in retail liquor sales, was withdrawn by the Delhi government last year after LG VK Saxena recommended a CBI probe into alleged irregularities in its implementation, officials said. The then deputy CM and Excise Minister

Pernod Ricard eyes premium spirit market in India with local brands

The second-largest distiller in the world has already produced an Indian single malt and may be expanding its portfolio in light of growing demand

Court declines to entertain Pernod appeal to renew liquor sale licence

India's federal financial crime agency has accused the company of illegally making profits by giving false information to Delhi

Limited spirits: Higher taxes, competition weigh on liquor stocks

United Spirits is expected to post an overall 11 per cent decline in revenues in Q1 FY24

Sula Vineyards records double-digit sales growth in June quarter

Sula Vineyards Ltd, the country's largest wine producer, has recorded a strong double-digit sales growth in the June quarter. Its estimated net revenues year-on-year were up 17 per cent in the April-June period, said a sales update by Sula Vineyards. Sales from its own brands were at Rs 103.5 crore, up 24 per cent, while its portfolio of imported "elite and premium brands" had a 30 per cent growth. "The company has recorded its highest ever Q1 net revenues overall as well as for own brands and the wine tourism business," it said. Its revenue estimates from wine tourism were at Rs 11.4 crore, up 11 per cent. This sales updates will be followed by financial statements for Q1 FY24 once approved by its board, said Sula Vineyards. Commenting on this, Sula CEO Rajeev Samant said: "Our focus on premiumisation continues to pay off with our elite and premium wines leading the pack in terms of growth." Sula Vineyards' wine tourism revenues also grew in double digits. Over the outlook, he

Pernod Ricard's India head of corporate affairs Yashika Singh quits

Singh, who headed corporate affairs for the Indian market, with focus on regulatory matters, including related to manufacturing and government policy, resigned last week

Undeterred by price hike, liquor sales at nearly 400 mn cases in FY23

Whisky continued to register the biggest numbers and accounted for around 75 per cent of overall spirits demand

United Breweries hits 52-week low as high RM prices hurt Q4FY23 margins

So far this calendar year (CY23), the stock has crashed over 20 per cent, as against 0.1 per cent rise in the S&P BSE Sensex

Amid regulatory challenges, Pernod Ricard's Bouhier resigns as India head

It is also fighting a near $250 mn tax demand for allegedly undervaluing imports, and the Delhi city authorities have declined its request for a liquor sale licence

Tipplers beware! These liquor brands may soon go off the shelves in Delhi

Delhi Excise Department has not renewed the liquor sale licence of three big firms and distributors

New Delhi rejects renewal of Pernod's liquor sale licence, cites probes

The 12-page order also stated, "Pernod Ricard India Private Limited and its employees had active involvement in the said criminal conspiracy"

Delhi govt invites applications for renewal of liquor licences for 2023-24

The Delhi government on Tuesday invited applications for the renewal of different kinds of liquor licences for 2023-24 as a new excise policy being firmed up is yet to be announced, officials said. According to an Excise Department circular, applications for the renewal of licence and permits can be submitted till the end of February. The applications will be renewed for 2023-24 after payment of required licence or permit fee, it said. "....all holders of licenses/permits of M&TP Branch in form of P-2, P-3, P-4, P-5, P-6, L-4, L-S, L-25, L-34, L-35, DD-9, DD-10, DD-11, DD-5 and AP are hereby requested to apply for renewal through Excise Supply Chain Information Management System (ESCIMS) and deposit license fee/documents for renewal for the year 2023-24 on or before February 28, 2023," said the circular. In case of any delay, the applications will be admitted before the expiry of the licences or permit, provided there are "good and sufficient" reasons for the delay and an ...