Tag Archives: Indian spirits market

Cheers to Celebration: The Rise of Premium Liquor in Diwali Gifting

As Diwali lights up homes across India, another sparkling trend is taking shape, premium liquor as the new-age festive gift. Once considered unconventional or even taboo, gifting fine spirits has now become a symbol of taste, status, and sophistication among urban consumers.

Whether it’s an aged single malt, a small-batch gin, or a limited-edition rum, curated liquor hampers are increasingly seen as a gifting option, away from traditional dry fruits and sweet boxes. High-end Indian craft brands, too, are getting their moment in the spotlight, from Paul John Whisky and Camikara Rum to Stranger & Sons Gin, all packaged in sleek, festive designs that make them ideal for gifting.

For corporates, especially in metros, premium alcohol has emerged as the “relationship gift” of choice, a token of appreciation that blends indulgence with exclusivity. Many retail chains and e-commerce players are also reporting a surge in demand for boutique and collectible labels ahead of the festive season.

However, gifting liquor in India still walks a fine line. With varying state laws and restrictions on alcohol gifting, most transactions occur discreetly, often in the form of personalised hampers or event-specific collections curated by licensed vendors. Despite the regulatory maze, the sentiment remains clear: Diwali is not just about lights and sweets, it’s also about raising a toast to good times and good company.

Here are some gifting options as well as recipes that will add to the sparkle of Diwali celebrations. From thoughtful pairings to ready-to-pour hampers, here are some must-haves to pick up on your way to the next celebration.

Godawan Artisanal Single Malt

This festive season, Godawan Artisanal Single Malt—the most awarded Indian single malt in recent years—unveils an exclusive gift pack that captures the spirit of mindful luxury. Each pack features a bottle of your choice, either Godawan 01 Rich & Rounded or Godawan 02 Fruit & Spice, paired with a handcrafted crystal glass that elevates the whisky-drinking experience. Adorned with elegant ethnic motifs inspired by Rajasthan’s artistry, the pack is a refined celebration of craftsmanship, purpose, and timeless design—making it an ideal keepsake for the season.

Price & Availability: ₹2800-₹6000 in Delhi, Rajasthan, Karnataka, Punjab, Haryana, Uttar Pradesh, Maharashtra, Goa, Telangana, Assam, Chhattisgarh, and Madhya Pradesh.

Geist Brewing Compnay x Amrut Distilleries – Stout Cask Finish Indian Single Malt Whisky

If there’s one bottle that captures Bangalore’s craft spirit this festive season, it’s the Geist Brewing Co. x Amrut Distilleries Stout Cask Finish. Limited to just 224 bottles, this collaboration brings together Geist’s bold Imperial Stout and Amrut’s world-renowned single malt expertise. The result is a rare stout cask–finished Indian single malt whisky that bridges the worlds of beer and whisky.

The story began when Amrut sent freshly emptied whisky barrels to Geist, where they were used to age the brewery’s Imperial Stout. Once the beer had picked up delicate whisky notes, the same barrels returned to Amrut, this time to finish their single malt. The result is a whisky layered with roasted malt, chocolate, and oak—bottled unfiltered at 46% ABV. Rich and complex, it’s an inventive expression of Bangalore’s craft culture.

Price and Availability: At select retail stores across Bangalore, priced at ₹7,500.

Diwali With Marriott Bonvoy

This Diwali, celebrate with the seventh edition of Diwali with Marriott Bonvoy, where traditions sparkle, artistry delights, and every mithai takes one to India’s diverse delicacies for Diwali. The specially curated festive boxes blend the richness of heritage with a contemporary touch. Available in options including the Box of 36 Sweets (₹2,800 + GST), Box of 18 Sweets (₹1,800 + GST), Variety Box of Nuts & Sweets (₹2,100 + GST), Festive Crunch Box (₹1,200 + GST), and Diwali Treasures (₹1,500 + GST) there’s something to make every moment special.

The exquisite festive boxes are available at Marriott Bonvoy hotels across India. Pre-booking is now open, with availability till Diwali.

Dewar’s Double Double 21

Crafted using an innovative four-step aging process, Dewar’s Double Double 21 allows single grain and single malt blends to fuse multiple times in their oak casks before their final ageing together. This blended liquid is then processed in a selection of sherry casks that give subtle notes of cinnamon, ripe vine fruits, and a smooth, lingering finish.

Price: ₹17,500

Dewar’s 12-Year-Old – A Timeless Blend of Elegance and Flavour

Dewar’s 12-Year-Old is a masterfully crafted Scotch whisky, double-aged to enhance its smoothness and depth. A delightful harmony of honey, vanilla, and spice makes it a crowd-pleaser, whether served neat, on the rocks, or in a classic highball. Its well-balanced profile and creamy finish make it an excellent choice for those who enjoy a refined yet approachable whisky.

Price: ₹4,000

MONIN Introduces a New Indian Rasa Range Specially Curated for Diwali

MONIN India brings its own touch of sparkle with the Indian Rasa Range, a collection that celebrates Indian flavours. Rooted in the campaign theme “Brighter With You”, the range reimagines India’s most beloved tastes through a modern lens—inviting chefs, baristas, mixologists, and home creators to rediscover the joy of flavour during the season of lights.

At the heart of the launch is MONIN’s Chai Tea Concentrate, a contemporary ode to India’s favourite comfort cup. Infused with the warmth of cardamom, cloves, and ginger, it’s as versatile as it is nostalgic, perfect for everything from spiced lattes to creamy desserts and festive cocktails.

The range includes Rose: Floral and fragrant, reminiscent of classic mithai; Spiced Jamun: Tangy and playful, a nod to India’s street-side indulgences; Raw Mango: A refreshing balance of sweet and sour, evoking summer nostalgia; and Hibiscus: Bright and floral, modern yet rooted in tradition.

The range has been designed in line with insights from MONIN India’s recent trend study, “Reimagining Indian Drinks and Desserts for Modern Hospitality Menus in 2025”, enabling chefs and baristas to bridge traditional flavours with global presentation.

“Diwali is a moment of gratitude for us at MONIN—a celebration of creativity, connection, and culture,” says Germain Araud, Managing Director, MONIN India. “With Brighter With You, we’re celebrating the people and partners who make our journey meaningful, and the flavours that make India truly special.”

Adding to this, Sai Harish, Head of Marketing, MONIN India, shares, “India’s beverage culture is constantly evolving—deeply rooted in tradition yet always open to reinvention. The Indian Rasa Range embodies that spirit, encouraging creators to reimagine familiar flavours in fresh, modern ways.”

Brighter With You: A Celebration of Collaboration – True to MONIN’s spirit of partnership, Brighter With You is an initiative that will see collaborations with cafés, bars, and restaurants across India, where chefs, baristas, and mixologists will craft limited-edition menus and tasting experiences inspired by MONIN’s Indian Rasa Range. Each collaboration will reinterpret festive flavours through a local lens—from spiced beverages and artisanal desserts to inventive cocktails and plated creations— showcasing how tradition can meet innovation on every table. Beyond the menu, select partners will host live demos, workshops, and pairing sessions, offering guests an immersive way to explore flavour and craftsmanship together.

Price & Availability: The Indian Rasa Range is available through select cafés, restaurants, and bars across India, as well as online via Amazon, Flipkart, Big Basket, Blinkit, Swiggy, and Zepto in 700ml and 250ml bottles.

ZOYA Premium Gin – Live. Love . Rejoice.

When the packaging itself becomes the gift, you can’t say no! ZOYA Premium Gin’s value added pack is with creative AI-generated packaging, making a perfect gift for the festive season. The goblet that comes with it, enhances the premium and immersive appeal.

Types of People You Meet at a Diwali Party – As Cocktails

Every Diwali house party has its own share of personalities who add the real spark. From the

meticulous host with the perfectly done up Pinterest board to the one still texting, “What’s the

address again?”, the best house parties are a perfect mix of people, stories, and spirits. And

what if this Diwali, they were re-cast cocktails?

Read on to discover your ultimate cocktail twin with these perfect pours to match every personality.

The Classy Hostess as Vanilla Gintini (ZOYA Premium Gin):

Elegant, composed, and effortlessly charming, this person knows how to make every detail

count, from her playlist to her glassware. Much like the Vanilla Gintini, they blend classic

sophistication with a hint of subtle charm that spells soft power in glass.

The Pour: Vanilla Gintini

Ingredients:

ZOYA Premium Gin (60 ml)

Vanilla Syrup (15 ml)

Cranberry Juice (15 ml)

Lime Juice (10 ml)

Garnish: Edible Flower 1 pc

Recipe:

Fill a martini glass with ice.

Stir all ingredients and garnish to enjoy.

The Old-School Charmer as Smoked Maple Old Fashioned (Woodburns Contempoary Whisky)

A storyteller with a sparkle in the eye and a love for the classics. They don’t rush their evenings or their whisky. The Smoked Maple Old Fashioned is all about this warmth, balance, and timeless taste—making it the perfect pour for the one with the slow sips and good stories shared by the diya light.

The Pour: Smoked Maple Old Fashioned

Ingredients:

Woodburns Contemporary Whisky (60 ml)

Maple Syrup (10 ml)

Angostura Bitters (3 dashes)

Recipe:

Burn a nutmeg and let the smoke come out. Cover that Nutmeg with a whisky glass.

Stir all ingredients in the whisky glass full of ice.

Garnish with orange peel and enjoy!

The Cool Creative as the ARTHAUS Straightpour (ARTHAUS Collective Blended Malt Scotch Whisky)

They arrive fashionably late, with a playlist that instantly takes over the aux. The posterboy for “chill”, this person embodies easy, breezy flair with a little unpredictable twist that ensures they don’t need to do anything to stand out. The ARTHAUS Highball mirrors their spirit —effortlessly smooth with an experimental and artistic edge.

The Pour: ARTHAUS Straightpour (60 ml – served on the rocks!)

The Life of the Party as the Spicy Mule (Russian Standard Vodka)

Fiery, confident, and impossible to ignore, the Spicy Mule channels this person’s infectious energy in every pour. All spark, no dull moment—when they are around, the night is always just getting started.

The Pour:

Ingredients:

Russian Standard Vodka (60 ml)

Jalapeño Brine (30 ml)

Jalapeño (2 pcs; muddled)

Lime Juice (15 ml)

Garnish: Mint Sprig

Recipe:

Shake all ingredients in a mixer filled with ice.

Pour into a Moscow Mule Glass to serve. Top up with non-alcoholic Ginger Beer to

enjoy.

The Midnight Philosopher as Midnight Cravings (SEGREDO ALDEIA Espresso Rum)

Find them on the balcony post-dessert, deep in conversation about the secret of life—or at least the secrets behind good coffee. The cocktail twin-flame for bittersweet thoughts with a silky finish, the Midnight Cravings cocktail is rich, dark, and delightfully introspective just like the midnight philosopher in your gang.

The Pour: Midnight Cravings

Ingredients:

SEGREDO ALDEIA Espresso Rum (60 ml)

Cold Brew (30 ml)

Dark Crème de Cacao (15 ml)

Demerara Syrup (15 ml)

Chocolate Bitters (2 dashes)

Garnish: Coffee beans and chocolate grated

Recipe:

Dry shake and ice shake all ingredients in a glass.

Garnish with coffee beans and grated chocolate to enjoy.

Royal Rangoli by MONIN

A vibrant, tangy refresher that blends MONIN Spiced Jamun and Glasco Lemon with cranberry and soda—bold, fruity, and the perfect citrus break from all your festive sweet munching.

Ingredients:

MONIN Spiced Jamun Syrup – 20ml
MONIN Glasco Lemon Syrup – 10ml
Cranberry juice – 60ml
Soda – 60ml
Ice cubes
Mint sprig (for garnish)

Method:

Add the syrups, cranberry juice, and ice to a shaker.
Shake well and pour into a red wine glass.
Top with soda and garnish with mint.

Meetha Patakha by MONIN

Sweet and fiery, this tequila-based cocktail blends MONIN Cherry and Blood Orange syrups with cranberry and soda for your palate that’s craving a little bit of that oomph factor.

Ingredients:

MONIN Cherry syrup – 20ml
MONIN Blood Orange syrup – 10ml
Tequila – 45ml
Cranberry juice – 60ml
Soda – 60ml
Orange peel (for garnish)

Method:

Combine both syrups, tequila, and cranberry juice with ice.
Shake and pour into a Collins glass.
Top with soda and garnish with an orange peel twist.

Tilaknagar Industries to raise ₹2,296 Crore via Preferential Issue

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Tilaknagar Industries Limited (TI) has announced that its Board of Directors has approved a preferential issue of securities (equity shares and warrants) amounting to approximately ₹2,296 crores. The issue price of ₹382 per security is in compliance with the pricing determined under Regulation 164 of the SEBI ICDR Regulations.

It goes without saying what the company intends to utilise the proceeds raised through the Preferential Issue – considering its recent announcement for the acquisition of Imperial Blue brand and general corporate purpose.

A total of 44 investors will be participating in this issue, including promoters and existing prominent investors. Of these, nine investors are subscribing through equity shares, contributing approximately ₹549 crores while the remaining 35 investors will participate through warrants, raising approximately ₹1,747 crores.

As per the terms, ₹437 crores (25% of the warrants issue size) will be payable at the time of allotment of warrants, while the balance ₹1,310 crores will be received upon conversion into equity shares.

The promoter group is also actively participating in the issue with the company’s Chairman and Managing Director, Amit Dahanukar subscribing to warrants worth ₹306 crores. Other investors include Axana Estates LLP, SMALLCAP World Fund Inc, TIMF Holdings, Funds managed by Abakkus Asset Manager Private Limited, Bandhan Mutual Fund, Arpit Khandelwal and several other institutional and marquee high-net-worth individuals.

‘Jim Beam has been crafted with unparalleled expertise for 230 years’

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One of the most notable recent developments in the Indian alcobev industry is the reduction of import tariffs on bourbon. In February 2025, the Indian government reduced import tariffs on bourbon whiskey from 150% to 100%, aiming to strengthen trade relations with the United States. This move is expected to make bourbon more competitively priced in the Indian market, potentially increasing its availability and boosting consumer interest. Bhavya Desai spoke with Neeraj Kumar, Managing Director of Suntory Global Spirits India, about the impact, growth potential, and more. Excerpts:

Before the tariff cut, bourbon imports into India were relatively modest, with the country importing around $2.5 million worth of bourbon during the 2023–24 fiscal year. The U.S., holding the GI (Geographical Indication) tag for bourbon, has been the primary supplier, accounting for nearly a quarter of these imports. The tariff reduction is expected to encourage more imports from American producers, enhancing their competitiveness against other international and domestic
spirits.

According to Neeraj, the reduction is well-timed, given the bourbon market’s strong growth potential in India, driven by shifting consumer preferences and a rapidly expanding alcoholic beverage industry. “Jim Beam, our leading bourbon whiskey, has seen strong double-digit growth in recent years, securing market leadership in the American whiskey category across key Indian cities. This reflects a growing appetite for bourbon among Indian consumers.”

Neeraj attributes this growth to bourbon’s versatility, which appeals to both neat drinkers and cocktail lovers, offering a unique opportunity to engage a new generation of whiskey enthusiasts. He also sees the tariff reduction as a strategic step toward strengthening trade ties between the world’s two largest democracies, supporting bourbon’s growing market presence and meeting increasing demand for premium whiskey experiences.

That said, the bourbon market in India is still relatively niche compared to scotch. While the tariff reduction is a positive step, more effort will be needed to grow the category. Neeraj acknowledges this, noting that the reduction marks a significant step toward expanding bourbon’s footprint, encouraging investment from American distillers, and improving accessibility for Indian consumers. Bourbon exports to India have already been growing at 20% annually, and the tariff reduction is expected to accelerate this trend.

Suntory Global Spirits is proud to be the custodian of the world’s #1 bourbon, Jim Beam, Neeraj emphasises. “Jim Beam has been crafted with unmatched expertise for 230 years, each bottle carrying the legacy of generations of dedication and craftsmanship. We are committed to building scale and momentum for the brand through premium experiences tailored to Legal Drinking Age (LDA) consumers, including differentiated activations centered around bourbon refreshment moments. Our ‘Jim Beam Highball’ strategy aims to deliver a refreshing and memorable drinking experience.”

Suntory Global Spirits is also looking to expand its portfolio in India, introducing more offerings under the Jim Beam label and other spirits like Maker’s Mark. The current Jim Beam lineup in India includes Jim Beam White and Jim Beam Black Kentucky Straight Bourbon Whiskeys, along with the recently launched Jim Beam Honey and Jim Beam Orange flavours — both of which have been well received by consumers and bartenders, particularly for bourbon-based cocktails.

It’s clear that Suntory Global Spirits is eager to make its mark (pun intended) and secure a larger share of the Indian spirits market. Neeraj’s enthusiasm reflects the company’s strong commitment to India as a priority market. “We are dedicated to meeting the growing demand in this market,” he says.

Jim Beam remains a major focus for the company in India, with momentum building steadily over the past two years. The launch of Jim Beam Honey and Jim Beam Orange has received a promising response from both consumers and bartenders, reinforcing bourbon’s growing popularity in India.

Globally, Suntory Global Spirits’s bourbon portfolio also includes Legent, Basil Hayden, and Knob Creek. The company continues to assess opportunities for expanding in India — though Neeraj stresses that timing will be key.

So, is local bottling on the table? Neeraj’s response is measured: “Our approach to bottling follows strict global standards to ensure the highest quality across all our brands. Each bourbon has its unique characteristics, influenced by GI norms, blending techniques, and precise recipes for seasoning, maturation, and bottling. Any decision on local bottling will be carefully evaluated to maintain the integrity and authenticity of our products and deliver the best experience to Indian consumers.”

The tariff reduction comes at an interesting time, aligning with India’s broader strategy to negotiate a comprehensive trade agreement with the U.S. — one that aims to double bilateral trade to $500 billion by 2030. Overall, the reduction in bourbon tariffs marks a significant shift for India’s alcobev market, promising greater consumer choice and a more diverse spirits industry. And perhaps, this could pave the way for a similar shift in the Scotch market too — who knows?

Bacardi India, Engine of Growth for Bacardi Global: Vinay Golikeri

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Bacardi Limited, the world’s largest privately held international spirits company with a portfolio comprising over 200 brands and labels. In a conversation with Bhavya Desai on a podcast, Vinay Golikeri, Managing Director of Bacardi India explains why India is a key market for Bacardi and more. Excerpts:

The market opportunities in India, both from a macro-economics and spirits perspective, are huge. Substantiating this Golikeri said, “In the global market place, premium spirits account for 50% of brands, while in India it is 5 to 6%, which means there is ample headroom to premiumise.” In India, between 2020 and 23, premium spirits had a growth of over 40% while globally it was around 7 to 8%.

Adding 20 million LDA every year

As regards Bacardi, Golikeri mentioned that vast majority of products were premium and ‘we have a long runway of growth for premium’ aided by factors such as rising affluence, consumers are drinking better, the demographic dividend (every year India is adding 20 million coming in to the legal drinking age (LDA) bracket), sea change in the retail environment, top notch bars, trading up is happening across price points. “Put all that together, the premium plus segment is really accelerating.” The median LDA in India is 28 whereas in the US and China it is over 40. “The number of affluent households is expected to more than double from 77 million in 2020 to over 177 million by 2030.”

Inflation-linked price mechanism needed

However, he said that two things from the regulators were essential – ease of doing business and consistency in policy, both of which will go a long way in driving growth for the industry and revenues for the government. “Several States have not given price increases for years. There is inflation and cost of raw material has gone up, affecting investment capabilities. The government should introduce inflation-linked price mechanism.”

With the alcobev sector in India being a highly regulated and complex market, Golikeri said, “It is like dealing with 28 countries rolled into one, policies change every year, route to market changes every year.” Taxes and duties are about 65 to 70% of the MRP (maximum retail price) and the rest goes to each level of the chain – wholesale, retail and brand owners. “Our taxes are significantly higher than anywhere in the world. We need inflation-linked pricing mechanism. We need to invest to grow the brand and for that to happen, price becomes critical.”

Best 10 Strategy

Continuing on Bacardi’s plans in India, Golikeri pointed out, “We started out in India in 1997-98 with Bacardi rum, then in early 2000s with Bacardi Breezer, mid 2010 with Bombay Sapphire, Grey Goose and a few years back with Patron. It’s being a great run. Bacardi India is an engine of growth for Bacardi globally.

“We at Bacardi are going along with our Best 10 strategy… that is making the next 10 years the best ones yet. We want to grow our India business six times by 2030. We have been having strong double-digit growth and we are on track. Experiential marketing is key for us. It is going to continue in importance as a growing number of consumers are experience-seeking. It is going to be equally about experience as much as the product.”

Cocktail Culture Evolution in India

“The bar scene in India has changed considerably, not just in metro, but also in Tier 2 cities. There is a lot of experimentation and we are seeing real evolution of the cocktail culture. It is not just Mumbai or Delhi. Recently, I had been to a bar in Guwahati and If I showed you their cocktail menu, you would think it was some bar in London or New York. Our products are positioned at half of the cocktail culture. This is an interesting opportunity for us to leverage the cocktail culture.”

Golikeri cited the sixth annual Bacardi Cocktail Trends Report, which identifies the five key trends poised to reimagine cocktail culture and the spirits industry in 2025. The report, created in collaboration with The Future Laboratory (TFL), draws on data from Bacardi-led and external research, consumer surveys, bartender interviews and TFL insights to reveal the movements that are influencing cocktail experiences, flavour profiles, and culture the coming year.

Quoting Mahesh Madhavan, the Bacardi CEO, Golikeri said the company has embraced the shift from consumption to curation, where consumers are not just seeking drinks, but meaningful experiences enjoyed over a cocktail.

Do What Moves You

Bacardi has launched a marketing push to launch its brand purpose ‘Do What Moves You’, which aims to “shine a spotlight on the brand’s belief in the power of self-expression”. “It has music experience, delicious cocktails, wonderful merchandise, its 360 degrees, bringing all together to a compelling experience. We amplify that digitally where a few experience, but gets seen by many.”

Legacy, Made in India

Talking about ‘Legacy’ whisky, the make-in-India product, Golikeri said its ‘tested, researched and produced in India’. “We have put the consumer in the heart of it. We have had strong results from the consumer to the product. We initially went into three States – Maharashtra, Uttar Pradesh and Telangana and we know we have a winner on hand. We will be rolling out in other states too and Legacy is a response to vocal for local.” The roll out plans include Goa, Pondicherry, Jharkhand, Odisha, Meghalaya, Assam, Tripura, Arunachal Pradesh, Kerala, and Rajasthan. The focus, Golikeri said, is going to be on Legacy, Irish whiskey brand Teeling; tequila brand Patron El Cielo, and vodka brand Grey Goose Altius.

However, he said that Bacardi rum which was introduced in 1997-98 continues to be popular. “For Bacardi Breezer, the main player in the RTD (ready to drink) segment, the market share in India is 90%. Launched in 2002-03, it is a great liquid and has had good activations. We had the winning recipe. We were an early entrant and we have cemented the product.”

Three F’s that Drive Bacardi culture

Asked about his experience so far in India, he said, “I came from Dubai in early 2023 and the first few months, I just travelled across the country, visiting almost all states, meeting with our teams, stakeholders and also consumers. It was an exercise to understand the challenges, the market and to help shape our strategy. I put all this on paper and took it to our board of directors. One of the learnings from the travels has been there is incredible opportunity for Bacardi to grow here.”

The company, he adds, encourages entrepreneurial mindset and helps in taking bold decisions, all coming from Bacardi’s focus on three F’s – Family; Founders and Fearless. “In Bacardi everyone is treated as family. We are all ‘Primos’ (cousins in Spanish), where we care for each other and help in making bold decisions. We are all a passionate team of Primos.”

India, Golikeri adds, contributes hugely not just in terms of business, but also as a global talent hub. Bacardi has so many career programmes and India is a key pillar when it comes to talent sourcing.

Tilaknagar Industries reports 82% PAT growth in Q2

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Expansion plans in East and North-East markets
TI leverages Samsara brand equity, soon to launch range of luxury products

Leading Indian-Made Foreign Liquor (IMFL) manufacturer, Tilaknagar Industries Limited (TI) has reported a profit after tax excluding exceptional items (PAT) of ₹58.2 crore, implying a growth of 82.4% over the ₹31.9 crore PAT reported in the corresponding quarter last year. The earnings before interest, tax, depreciation and amortisation (EBITDA) at ₹66 crore grew 39% over the ₹47.4 crore EBITDA reported in Q2 of the previous year.

Significantly, the company’s EBITDA margin expanded 422 basis points year-on-year (YoY) to 17.6%. Adjusted for the subsidy income, EBITDA came in at ₹56 crore, at a margin of 15.3%, showing 188 basis points expansion YoY. This growth in profitability was witnessed despite muted growth in net revenue from operations, at 5.8%, to ₹374.9 crore due to a temporary slow-down in growth, caused by policy transition in one of company’s key markets, Andhra Pradesh, which has recently opened liquor retail to private parties in the state.

Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries said, “With retail going private in Andhra Pradesh mid-October onwards, we expect to continue with our industry-beating growth trajectory, achieved through a combination of doubling down on our market share gains from our brandy portfolio as well as our new product launches across categories.”

The company that has a strong foothold in key markets of South India, as well as certain markets in East India, recently launched Mansion House Gold Barrel Whisky in Assam. With this launch, the company plans to further expand into the East and the North-East markets where whisky enjoys an 80% share of IMFL market in the East and North-East markets.

TI’s flagship brand Mansion House Brandy is India’s highest selling brandy and the eighth-largest selling spirits brand across categories, while its second millionaire brand, Courrier Napoleon Brandy has emerged as the third-fastest growing spirits brand globally. The company plans to creatively invest in advertising and sales promotion to provide a meaningful share of voice to the brandy category in the overall IMFL market.

During the quarter under reference the company become net debt free, nearly six months ahead of its original target date for achieving the net debt-free status. “From a peak debt more than ₹1,100 crore in March 2019, to achieving the net debt free status, we have come a long way. This transformation was achieved through a combination a financial prudence and achieving industry-beating profitable growth,” Dahanukar added.

The company attributes the growth in profitability to superior brand-mix as well as effective cost-optimisation initiatives. With the worst of the inflationary cycle over, the company anticipates further growth in profitability in the upcoming quarters.

Recently, the company moved to increase its investment in Spaceman Spirits Lab Pvt. Ltd. (SSL), maker of Samsara Gin and Sitara Rum, to 20% from the earlier 10%. TI will leverage the Samsara brand equity to showcase a robust luxury portfolio, along with its soon-to-be launched range of luxury products.

Whyte & Mackay: Looking to Craft a Legacy in India’s Evolving Whisky Market

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As the Indian whisky market evolves with the introduction of newer and more premium products, Indian consumers are increasingly gravitating toward ultra-premium spirits. Whyte & Mackay (W&M), originally acquired by USL (later Diageo) and eventually sold to the Philippines-based Emperador Distilleries, has made its offerings available in India through VBev. In a conversation with Bhavya Desai, James Cordiner, International Malt Specialist at W&M, and Sumedh Singh Mandla, CEO, AWS Global and VBev, shared perspectives on their portfolio, market strategy and future plans. Excerpts:

Whyte & Mackay’s current portfolio in India spans both the ultra-premium and premium segments. The lineup includes the renowned Dalmore single malt, available in age statements of 12, 15, and the Port Reserve edition, while the premium range features Jura single malt, offered in 10- and 12-year-old variants.

James Cordiner, International Malt Specialist at W&M

In addition to Dalmore and Jura, the company plans to launch the Tamnavulin single malt at the end of this year or early next year, with Fettercairn single malt also in the pipeline.

James Cordiner, who recently joined W&M, is no stranger to the Indian market, given his previous tenure at Bacardi. He is impressed by India’s passion for whisky. “It’s a huge whisky market and one that’s growing rapidly as consumers become more adventurous and curious,” he observes.

**Sumedh Singh Mandla, CEO, AWS Global and VBev**

Both James and Sumedh recognize that while Indian consumers are leaning toward premium spirits, Dalmore is positioned at a higher price point (₹14,300 per bottle in Mumbai). Nevertheless, they are optimistic that consumers will connect with the brand’s heritage, craftsmanship, and royal legacy dating back to 1839. James emphasizes that the cask selection and meticulous production process are what set these whiskies apart.

Despite the competition in the segment, Sumedh is confident that W&M’s products can carve out their own niche, particularly with the rise in consumers’ purchasing power. For those who find Dalmore’s price point steep, Jura offers a more accessible option.

Currently, the brand’s strategy includes advocacy and education initiatives targeted at on-trade establishments, with activities expected to commence soon. W&M products are now available in approximately 20 tier A and B cities, and they are also looking to go more vertical in the States that they are already available in. For instance, in Maharashtra – expanding to other cities like Nagpur, Pune, Kolhapur etc apart from Mumbai. Although the top line products might not be made available in these markets, but they tend to surprise W&M in terms of aspiration and growth.

But growing that market comes with its challenges and fluctuating price points, shifting regulations in each State hamper the expanding market reach. Additionally, securing sufficient supply quotas for wider distribution also remains a concern, which a more streamlined regulatory framework could address.

Sumedh mentions an example: if a regulator requires a barcode to be repositioned on the bottle, it’s difficult to implement such changes after the labels have already been customized. A standardized policy would simplify these processes and accelerate growth across the segment.

James admires the progress of Indian single malts, noting, “You’ve got some fantastic whiskies being produced in India.” He points out that Scotland’s cold climate allows for extended maturation periods, resulting in more complex and nuanced flavour profiles that can develop over decades. By contrast, India’s warmer climate accelerates maturation, but might limit the depth of flavours that can be achieved within 10 to 12 years. Nonetheless, he believes that India’s single malt journey will play a key role in shaping the country’s luxury whisky market for the future.

Interestingly, the demand for luxury products is surging in smaller cities, with on-trade partners requesting more stock of premium offerings like Dalmore. Clearly, Dalmore is being positioned as an aspirational brand, catering to discerning consumers who appreciate fine spirits. But interestingly, their messaging isn’t solely targeted at men, but also at women who have reached a certain level of accomplishment in their professional and personal journeys. Moving forward, the brand plans to conduct more high-profile events to engage with affluent consumers and reinforce brand loyalty.

For those already familiar with single malts and seeking an elevated experience, W&M aims to meet their expectations. Even with Dalmore’s luxury pricing, Sumedh doesn’t see this as a major hurdle. He anticipates that as duties gradually decrease over time, products like Dalmore will become more accessible to a broader audience, growing India’s journey further.

It is clear that Whyte & Mackay’s legacy, which is built on over 175 years of whisky-making expertise, steeped in tradition and a pursuit of quality, has grown into one of the most respected names in Scotch whisky, renowned for its craftsmanship and innovative blending techniques. From the luxurious Dalmore with its rich heritage dating back to 1839, to the adventurous Jura and the approachable yet complex Tamnavulin, their current whisky portfolio offers whisky enthusiasts an option at every stage.

As the Indian whisky market continues to evolve, W&M’s commitment to delivering exceptional products, combined with its focus on storytelling and education, positions it in a strong footing for the future.