Pernod Ricard India, a spirits manufacturer, has posted a revenue of over INR 25,000 for the fiscal year 2022-23, indicating a 10% annual growth. Despite owning popular brands such as Absolut, Chivas Regal, and Glenlivet, the company witnessed an 8% decline in profit, totaling INR 1,340.22 crore in FY23, compared to the INR 1,457.98 crore profit in FY22.
According to financial data obtained from the business intelligence platform Tofler, the company’s consolidated revenue from operations in FY23 reached INR 25,039.47 crore, representing a 10.1% increase compared to INR 22,741.40 crore the previous year.
According to the data, Pernod Ricard India paid a cumulative excise duty of INR 13,112.61 crore in FY23, marking an increase of nearly 2% from the INR 12,857.74 crore recorded in the previous year.
Pernod Ricard reported that the total tax payment for the fiscal year 2022-23 amounted to INR 19,002 crore, constituting approximately 76% of its revenue from operations. This payment encompassed both direct and indirect taxes and duties directed towards the central and state governments.
In the fiscal year 2022-23, Pernod Ricard India recorded a total income of INR 25,152.66 crore, reflecting a 9.54% increase from the previous year’s figure of INR 22,960.67 crore.
United Spirits Ltd (USL), under the control of the British spirits manufacturer Diageo, continues to dominate the rapidly expanding Indian market, boasting a consolidated revenue from operations amounting to INR 27,815.4 crore.
The total income for United Spirits Ltd (USL), encompassing other revenues, reached INR 27,888.5 crore in the fiscal year 2022-23.
Pernod Ricard India operates as a wholly-owned subsidiary of Pernod Ricard South Asia, which, in turn, functions as a subsidiary of the French spirits manufacturer.
Pernod Ricard’s extensive global portfolio features more than 200 premium brands, including iconic names like 100 Pipers, Chivas Regal, The Glenlivet, Absolut, Havana Club, and Jacob’s Creek. Additionally, the company owns Indian Made Foreign Liquor (IMFL) brands such as Blenders Pride, Imperial Blue, and Royal Stag.
After the United States, India stands as the second-largest market worldwide for Pernod Ricard.
In a recent statement, Jean Touboul, the Managing Director of Pernod Ricard India, mentioned that he expects a threefold jump in sales within the country by the next decade. He pointed to factors such as macroeconomic tailwinds, a favorable demographic dividend, and the growing premiumization in both Indian Made Foreign Liquor (IMFL) and imported brands as key drivers for this expected growth.
Continue Exploring: Pernod Ricard anticipates a threefold increase in India sales, expects to topple US market
“We are growing faster with the tailwinds in macroeconomics, in demographic and 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,” he said.
However, Touboul 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.”
“Currently, the IMFL (Indian-Made Foreign Liquor) brand of Pernod Ricard contributes close to 95 per cent of its volumes and above 80 per cent of our net sales,” he added.