INDIAN DISTILLERIES
Should investors buy the dip in brokerage stocks? Deepak Shenoy answers
But there is a headwind there because SBI did a lot of unsecured lending as well. But therefore, of the public sector bank, Indian Bank looks better. We have a bunch of private banks in our portfolio. So, a little bias there.
Child labourers at Som Group's liquor unit worked 11 hours a day
A state inspection of a Som Group distillery in Madhya Pradesh found children, aged 13-17, working long hours filling and packing liquor bottles. Following the National Commission for Protection of Child Rights' discovery of 58 underage laborers, the state suspended the distillery's license. Som denies the allegations and has legally challenged the suspension.
From spirits to simplification: Diageo India to slim down Mallya-era overseas subsidiaries for a better high
Diageo first bought a stake in USL in 2012, taking its holding to a majority by the following year. Mallya stepped down from USL in 2016 and left India that year amid loan repayment troubles at Kingfisher Airlines. At the time, USL had nearly two dozen subsidiaries, joint ventures and associate companies, half of them in the UK, where Mallya has currently exiled himself.
Amrut Distilleries wins "World's Best Whiskey" title at 2024 International Spirits Challenge
Amrut Distilleries from Bengaluru has made headlines by winning the esteemed title of "World's Best Whiskey" at the 2024 International Spirits Challenge in London. This accolade, part of a prestigious competition featuring top global whiskey brands, highlights Amrut's exceptional performance with five gold medals in the competitive "World Whisky Category." Led by its flagship single malt, Amrut Fusion, the distillery's success underscores India's growing prominence in the international spirits arena and its commitment to crafting whiskies of unparalleled quality and taste.
India to impound liquor firm Som's distillery over child labour
Police launched an investigation into Som after the National Commission for Protection of Child Rights (NCPCR) last week found 39 boys and 20 girls working at the factory. The agency also released photos of children's hands it said showed burns due to contact with chemicals. "We have sent the police force to ensure there are no issues during the sealing process," Vikas Kumar Shahwal, a senior Madhya Pradesh police official, told Reuters.
Indri launches exclusive edition inspired by the Game of Thrones franchise
The Indian single malt brand unveiled two innovative expressions, drawing inspiration from the HBO original series, House of the Dragon.
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D-St investors richer by over Rs 2 lakh crore as Sensex, Nifty extend record run
Indian benchmark indices Nifty50 and Sensex hit fourth consecutive record highs on Tuesday, driven by banking and IT stock gains, amid positive global market trends. Sensex rose 308 points to 77,301, while Nifty gained 92 points to 23,558.
Amrut wins five gold medals at International Spirits Challenge in London
Amrut Distilleries won five Gold medals at the 2024 International Spirits Challenge (ISC) in London, setting a record for Indian distilleries. Competing with top brands from Scotland, Ireland, and Japan, Amrut's total international awards now reach 350. The standout was Amrut Fusion, acclaimed as the "Crown Jewel" of Indian single malts.
Oil firms blamed for ethanol stock pile-up
India's ethanol production capacity was about 13.80 billion litres per year in November 2023, of which 8.75 billion litres were molasses-based and about 5.05 billion litres grain-based, according to government data. The production capacity was about 4.20 billion litres in 2014.
Hic! Hic! Hurray: How Indian single malt whiskies are increasingly finding global cheer
Once an unheard-of category in international markets, Indian single malts are now commanding a premium for their artisanal and limited-edition whiskies. What has led to the turn of the tide in this fiercely competitive segment?
Tipplers toast local labels as big brands lose way in policy maze
State liquor policy changes result in scarcity of popular brands like Royal Stag, Budweiser, and Old Monk. Liquor stores push new brands due to supply chain disruptions. Mainstream brands limit supplies leading to a shift towards local brands, impacting the industry supply chains.
India's John Distilleries wins three awards at London Spirits Competition
“We are honored to have been awarded at the London Spirits Competition. It is indeed a privilege to be appreciated for the quality of our products,” remarked JDL Chairman and Managing Director, Paul P. John.
Q4 results this week: RIL, ICICI Bank, HCL Tech, among 166 companies that'll announce earnings
With Wipro and Infosys’ results out this week, the fourth quarter earnings season will now pick up pace as the upcoming week will witness the results for Axis Bank, ICICI Prudential Life Insurance, Mahindra & Mahindra Financial Services, Tata Elxsi, along with 167 other companies.
Amrut: Investors want to raise a toast amid single malt whiskey wave and global cheers
Amrut Distilleries, a key player in the Indian single malt whiskey industry, is seeing increased interest from investors but remains focused on organic growth. With plans to boost exports and expand market share, Amrut aims to capitalise on the rising demand for premium spirits in India. Despite competition from global brands entering the market, Amrut is optimistic about the growth potential for Indian single malt whiskey and is gearing up for further expansion.
Goa based Kadamba single-malt whisky clinches 'Best Indian Single-Malt Whisky' title
Kadamba, a single-malt whisky from Goa, has been named the "Best Indian Single-Malt Whisky" at the Icons of Whisky awards. This recognition marks a significant milestone for Kadamba, elevating its status among global whisky brands. The winning expression, Kadamba's Signature Expression, is aged in a blend of bourbon, sherry, and virgin American oak casks, resulting in a complex flavor profile. Priced at ₹2,200 for a 750ml bottle, Kadamba whisky is available in select stores and bars in Goa, adding to its exclusivity.
Pernod Ricard to invest euro 200 million to build its biggest Asian distillery in Maharashtra
French distiller Pernod Ricard plans to invest euro 200 million to build its biggest Asian distillery in Nagpur, Maharashtra. The distillery will have an annual capacity of up to 13 million litres of Indian malt, according to the maker of Chivas Regal, Glenlivet, and Absolut spirit brands.
Time for them to say cheers and get re-rated? 4 not so well known smallcap breweries and liquor stocks
In the last three years, many sectors and companies which have been in the dumps for years have made a comeback. There are two kinds of comebacks, one is comeback on the dalal street. Second is a comeback in the real business. It is the second one which is more important as that is what finally matters to even the street. If one looks at the history of the liquor industry it has been dominated by two large names, but over the last few years, many smaller companies have made a comeback in a real business sense. Some due to their one brand getting super successful, others have been able to restructure their operation, reduce debt by selling some of the non core assets. Some by becoming bottlers and outsourcing their capacity to large players. In a nutshell, after two decades of ups and downs, these smaller players have reached the point where there is a possibility that they might see a re-rating, if they stay in course of clean and transparent corporate governance.
Indian single malts make history, overtake global giants in sales for first time
Indian single malt whiskies have made history by surpassing renowned international brands in terms of sales. According to the Confederation of Indian Alcoholic Beverage Companies (CIABC), Indian single malts accounted for 53% of total sales in 2023. The success of 'Made in India' brands has led to international giants like Diageo and Pernod Ricard entering the Indian market with their own local brands. This signals a new era for the country's whisky industry.
Curbs may be eased on sugar use for ethanol production
The government's decision came amid concerns about a fall in the production of sugarcane due to erratic weather conditions, and rising prices of the sweetener in the domestic market. The all India average consumer wholesale price of sugar was ₹4,142.21 per quintal on December 14, compared with ₹3,934.39 on the same day last year, according to government data.
BJP raises in LS recovery of huge amount of cash from distillery company linked to Cong MP
Sanjay Seth, the BJP member from Ranchi, raised the issue during the Zero Hour, seeking a reply from the Congress. Several other BJP MPs sitting next to him displayed newspapers with reports of the recovery of cash to drive home their point.
Govt asks sugar mills, distilleries to not use sugarcane juice, sugar syrup for ethanol
The Indian government has directed sugar mills and distilleries to refrain from using sugarcane juice or sugar syrup for ethanol production in the ethanol supply year 2023-24. Existing offers received by oil marketing companies (OMCs) for ethanol from B-Heavy molasses will continue. The move is seen as an effort to ensure sufficient sugar supplies in the local market.
It's glass half empty for Indian whisky makers
"Indian whisky is not much in demand outside, and domestic demand is robust, so the export opportunity hasn't been exploited to the fullest," said an official. In FY23, for instance, India's whisky exports at $124 million were just 10% higher than $112.4 million in FY14, but lower than the $127.8 million exported during the pandemic.
Fundamental Radar: 4 factors that make Som Distilleries a good bet in the liquor space
Som Distilleries’ product portfolio consists of various options across beer, rum, brandy, vodka, and whisky. The company has three key millionaire brands in beer – Hunter, Black Fort, and Power Cool.
Stocks in news: Titan, IndiGo, Adani Total Gas, Adani Wilmar, Hero MotoCorp
Adani Total Gas has reported consolidated net profit of Rs 150 crore for the quarter ended June. Revenue from operations rose by a marginal 2% year-on-year to Rs 1,135 crore.
Stocks in news: LTIMindtree, Mankind Pharma, RBL Bank, Suzlon Energy, Aurobindo Pharma
Mankind Pharma, a recent entrant to the stock exchanges, has been included to several Nifty indices including Nifty500, Nifty Midcap150, Nifty Midcap100 and Nifty200.
Spirits up! Liquor sales surge despite price hikes
India's spirits demand increased by 12% in FY23, with demand rising for all the key segments of whisky, brandy, rum, gin and vodka, especially for premium products. Nearly a dozen states, including Rajasthan, Kerala and southern states, allowed price increases, enabling companies to mitigate some margin pressure. However, companies are being affected by rising costs, with raw materials such as extra neutral alcohol, glass and packaging materials seeing a record surge in prices, according to industry executives. Vinod Giri, director general at the Confederation of Indian Alcoholic Beverage Companies, expects the sector to grow at a CAGR of 7-8% over the next five years.
The gin boom trying to change India, one distillery at a time
From Japan to Kenya, the world is awash in craft spirits movements, but the blossoming of gin in Goa offers more than a nod to shifting market tastes.
Corporate Radar: MSTC, HAL to turn ex-dividend; Rama Steel board meeting & more
Meanwhile, Bombay Rayon, Bilcare and ObjectOne Information Systems will announce their quarterly results. Also, the board of Som Distilleries will meet for interim dividend, while Rama Steel Tubes will meet for considering the bonus share issue. Indian Infotech and Software's board on the other hand will mull over rights issues.
Corporate Radar: Angel One to turn ex-dividend, Asian Paints, Bajaj Finance earnings and more
A board meeting of Rajnandini Metal is also lined up to deliberate fundraising. Embassy Office Parks REIT other than quarterly earnings will also deliberate over dividend.
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