Alcobrew Distilleries, the maker of Golfer’s Shot and White & Blue whiskey, is aiming to achieve a volume target of five million cases and cross INR 1,000 crore in net revenue for the fiscal year 2024-25, according to a company official.
“The primary focus will be on accelerating the growth of the semi-premium, premium, and above segments, with a keen emphasis on enhancing the bottom line,” stated Anant Iyer, the company’s Chief Operating Officer.
In the fiscal year 2023-24, the company reported that its net revenue had surpassed the INR 850 crore mark, driven by the introduction of new products. This marked a significant increase from the previous year’s net revenue of INR 722 crore in 2022-23.
Iyer mentioned that this year’s growth has surpassed the industry’s overall growth rate of about 9-9.5 percent.
Continue Exploring: Sanjay Dutt’s Glenwalk Whiskey disrupts Indian market, sells out 4X initial inventory in record time, aims to sell 28 lakh bottles by next FY
Alcobrew’s brands, notably White & Blue and Golfer’s Shot, have been pivotal in driving its growth. In the preceding fiscal year, Golfer’s Shot recorded sales of over 50,000 cases, with aims to double this figure in 2024-25. Iyer noted, “Our high-end brands have fueled growth, not only in volume but also in overall revenue.”
Market Trends and Consumer Behavior
Discussing the industry’s price adjustments and prevailing consumer demand trends, Iyer remarked, “Despite escalating costs of raw materials like broken rice, extra neutral alcohol (ENA), malt spirits, and rising freight rates, there has been a notable surge in consumer demand for premium, higher-priced products. This shift in consumer buying behavior has greatly favored the liquor industry, particularly benefiting our premium whiskey and single malt offerings.”
Emphasizing its present market strategies, Iyer noted that the emphasis on northern markets has yielded positive results, with this region surpassing others in terms of premiumization.
Continue Exploring: Woodsmen Mountain Whiskey raises $1.5 Million in Series A funding led by FinFirst Group and Anthill Ventures
Additionally, he noted that the route to market, particularly within India’s alcobev industry, varies from state to state. He expressed enthusiasm about the emergence of urban centers with walk-in stores, a departure from the traditional thekas (wine and liquor shops) with grilled fronts. While such establishments still persist in certain markets, the approach and activation at point-of-sale locations remain diverse. This complexity is further compounded by the presence of various on-premises venues such as ahathas, bars, fine dining establishments, high-energy nightclubs, and membership-based clubs. Moreover, the pricing of brands also differs across these on-premise locations.
Expansion Plans and Product Development
Looking ahead, the firm intends to uphold its emphasis on the semi-premium to super-premium segments by expanding its premium portfolio and developing single malts.
At present, the company operates a manufacturing plant in SAS Nagar-Derabassi, Punjab, and a bottling unit in Himachal Pradesh. Additionally, it engages in contract manufacturing in Uttar Pradesh (UP) and Odisha to meet the demands of these regions.