Beam Global, the producer behind Teacher’s whisky and Roku gin, has witnessed a remarkable surge in sales over the last two years, surpassing INR 1,000 crore in FY23. However, the introduction of new products has resulted in an expanded deficit.
During the fiscal year ending in March 2023, sales experienced a notable 54% surge, reaching INR 1,163 crore, in contrast to the INR 756 crore recorded in FY22. According to the most recent filing with the Registrar of Companies, net losses climbed to INR 299.7 crore for the last fiscal year, compared to INR 262.3 crore in the preceding year.
In FY21, it achieved net sales of INR 531 crore but incurred a net loss of INR 201 crore.
In its annual filing, the company stated that it is embarking on a consumer-insights-driven mission to enhance its core business within the House of Suntory, aiming to bolster growth in the premium segments of the whisky category in India.
“The company has outlined a long-term strategic vision and is transforming people capability and building exceptional excellence to strengthen its brand portfolio. This vision is well supported with investments and performance measurement in place across its brands, people, processes, IT capability and expansion of bottling capacity. The company enjoys strong support and confidence from the ultimate parent company and is strengthening its corporate governance by taking various measures,” the filing added.
Over the past three years, Beam Global has debuted a range of products, including Oaksmith Indian whisky, Japanese whiskies The Yamazaki and Hibiki, Roku Japanese gin, and Toki Whisky.
Beam Suntory, the parent company, ranks as the world’s third-largest spirits firm, trailing only Diageo and Pernod Ricard. They have set an ambitious global goal of achieving $1 billion in annual revenues in India by 2030. In the Indian market, Teacher’s stands as the fifth largest scotch brand. Moreover, the company that produces Jim Beam holds sway over more than a third of the American whisky category and exerts dominant control over the entire Japanese whisky segment, boasting a remarkable share of over 95%.
“US whisky has been a bridgehead subcategory for both Brown-Forman, with Jack Daniel’s, and Beam Suntory, with Jim Beam. These two brands accounted for about 1,500 nine-litre cases of 2022 US whisky volumes,” said a IWSR report.
