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Section 49 of Maharashtra Prohibition Act Invoked, Questions Locus Standi of ISWAI

• Government defends ‘Maharashtra Made Liquor’ (MML) policy citing increase in revenue by 17%

• On December 16, United Spirits Limited applies for new label license – McDowell’s Century Blended Whisky,under MML category

• 64% of the total liquor manufactured in 2024–25 is from nine potable liquor license (PLL) holders

• MML necessary to revive struggling domestic license holders, government contention

The Government of Maharashtra, on December 16, defended in the Bombay High Court its newly introduced Maharashtra Made Liquor (MML)’ policy, stating that it had led to a nearly 17 per cent increase in the excise revenue. The government informed the Court that it had invoked Section 49 of the Maharashtra Prohibition Act, which gives it ‘exclusive privilege on trade in excisable articles’, thus questioning the locus standi of the International Spirits and Wine Association of India (ISWAI) which has filed the petition challenging the MML policy.

The next hearing is on December 23.

The government made the submission in response to thepetition of ISWAI which represents several companies including global giants such as Pernod Ricard, Diageo and Bacardi.

The State Government took shelter under Section 49 of the Maharashtra Prohibition Act to argue that trade in excisable articles remains the exclusive privilege of the government, which may be conferred only upon license-holders for consideration.

While acknowledging that one ISWAI member, Pernod Ricard India, holds two potable liquor licenses (PLL), in Nashik and Kolhapur, the government affidavit said that most other members do not operate manufacturing units in Maharashtra.The State questioned ISWAI’s locus standi to challenge the policy, pointing out that ISWAI does not hold any potable liquor license.

“The State government has not imparted this privilege to ISWAI, it does not hold the right to bring an action against the policy decision on behalf of the alleged members of the association.”

Excise Revenues Surge

The Government representatives also made out a case of how excise revenue had surged post introduction of the policy. The excise collections between July and November 2025 rose from ₹9,665.64 crore in 2024–25 to ₹11,299.40 crore in 2025–26, it mentioned.

This growth contrasts with the average 12% rise recorded between April and June 2025, before duty revisions and the rollout of MML. “This shows positive growth after introduction of new policy,” the government said. The government further argued that the policy was aimed at addressing an uneven competitive landscape, promoting local liquor manufacturers and reviving idle capacities in domestic distilleries.

The government said that about 64% of the total liquor manufactured in 2024–25 came from nine potable liquor license (PLL) holders, many linked to ISWAI members or their subsidiaries. The State argued that these figures justified creation of the MML category and a reserved, incentive-based policy was necessary to revive struggling domestic license holders.

ISWAI had challenged the policy as arbitrary and discriminatory, arguing that it violates Article 14 of the Constitution by creating “a preferential class” of PLL holders who alone may manufacture MML, while excluding similarly placed licensees, including its members.

ISWAI argued that this criteria defeats the purported objectives of employment generation, investment promotion, full-capacity utilisation of distilleries and enhancement of excise revenue. It added that the same policy goals could be achieved by allowing all PLL holders to produce MML rather than reserving lower taxes and a price brand for a narrow class of locally structured licensees.

Even while, the Court is hearing the case, United Spirits Limited with unit in Chikhalthana in Aurangabad taluk has applied under MML category a label by name ‘McDowell’s Century Blended Whisky to be sold exclusively in Maharashtra.

Court Directs Department to Open Portal for Label Registration

On November 24, the Court had allowed the State and other stakeholders to go ahead with preparatory steps for execution of the policy decision, but clarified that the same will be without prejudice to the outcome of the case.

The Court had directed the Government representatives to open the portal for any alcobev player from within the state. However, till December 9, the excise department had not facilitated that process, forcing the Court to take notice of that and cautioning the government. A two-judge bench headed by Senior Judge Revathi Mohite Dere asked why the excise department had not followed the court directive and cautioned the government that it would take serious notice of the lapse.

Department Holds Right to Accept or Reject Application

Sources in the Excise Department clarified that the portal is open for anyone to file an application for registering their labels, but it is the department’s prerogative to accept or reject the application.

The ISWAI contention has been that the process for companies to get their labels registered is time-consuming, not less than 45 days, and with the court case going on there would be further delay. This, the ISWAI source mentionedwould give undue advantage to the eight players who have been granted licenses to set up MML units. They are already marketing MML in the price band of Rs. 160 and Rs. 205 where brand really does not matter to a particular segment of consumers.

MML Category Doing Well

As of now, reports from the ground indicate that the products launched under the MML category are doing ‘extremely well’ with product quality being good. Some of the MML players or the consultants who are guiding them come with enormous experience in the liquor industry, either having worked in major companies or having bottling plants or ethanol units. Some of them also own retail shops across Maharashtra where they can give good shelf position for their products.

The ISWAI source said that many of the players were ‘commodity players’ and not ‘brand players’ and they would flood the market having a good lead over the establishedcompanies. The source acknowledged that the MML players had drafted consultants who have had strong background in the liquor business and are helping the licensees to set up the businesses, thus giving ‘undue advantage’ to them.

In mid-2025, the Maharashtra government introduced policy changes to incentivise local investment. It brought in the MML category, to include grain-based spirits produced exclusively by local manufacturers. The tax rate for MML is 270 per cent with zero foreign investment/ownership. The government believes that this will spur the local industry.

ISWAI then filed a lawsuit against the Maharashtra government, challenging the sharp hike in excise duty on premium affordable liquor brands and also for exclusion of brands of major players such as Diageo India and Pernod Ricard India from the newly-created lower tax category of MML.

The court also asked the government lawyer why the report of the Varsha Nair Committee was not submitted earlier on MML. The report highlights certain salient points to encourage those distilleries which are closed or underutilised in Maharashtra to produce cheap liquor. The report added that this would generate additional revenue to the excisedepartment as well as generate employment provided it is made in Maharashtra for distribution in Maharashtra. It also prescribes certain minimum shareholding pattern for owners.

Eleven Licenses Approved, Several in the Pipeline

So far, the department has approved eleven MML licenses and many more are pending. Companies, both International and nation, are keen on jumping on to this MML bandwagon to produce economy liquor priced between Rs.160 and Rs.205 for the Maharashtra consumers even while their focus is on premium brands. These companies could launch similar products in this price range with some brand extensions and so on.

The Government is represented by Advocate General Milind Sathe with government pleader Neha Bhide and additional government pleaders Shruti Vyas and GR Raghuwanshi.ISWAI is represented by senior advocate Rohan Shah and advocates Darshan Bora, Chirag Shetty, Anchal Mundada, Kanika Birje, Surabhi Prabhudesai, and Vidhi Shah.

Trilok Desai / R.Chandrakanth

Ambrosia

Teacher’s Reserve Wins Silver for Taste at the World Whiskies Awards 2026

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Teacher’s Reserve has earned Silver in the Blended Whisky (Taste) category at the World Whiskies Awards 2026. The global recognition places Teacher’s Reserve alongside the finest blended expressions in the world, spotlighting its fully peated Ardmore backbone, 12-year maturation, and distinctive finish across American, European and ex-Islay casks.

With its warm smokiness, honeyed malt richness and layered fruit-spice complexity, Teacher’s Reserve continues to appeal strongly to Indian consumers seeking depth, character and modern craftsmanship in their winter drams. The award underscores the brand’s legacy of conviction and quality and marks a proud moment for the Teacher’s portfolio in India.

“Teacher’s Reserve winning this prestigious accolade is a strong validation of the depth, craft and character we set out to deliver with this expression. It reflects our commitment to creating whiskies that resonate with today’s Indian consumer—bold, well-made and uncompromising in flavour. We’re proud to see Teacher’s Reserve recognised on a global stage” said Prithvi Handa, Category Head – Scotches and Malts, Suntory Global Spirits.

Teacher’s Reserve is currently available in Delhi, Maharashtra, Rajasthan, Goa, Karnataka and Telangana.

TIGERFIRE Vodka Debuts in India

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Positions Itself as a Founder-Led Super-Premium Label
Roll out across Maharashtra, Goa, Hyderabad, and NCR initially and national market

India’s premium spirits segment has a new entrant with the launch of TIGERFIRE Vodka, a French-crafted, super-premium brand co-created by actor Sanjay Dutt and entrepreneur Paresh Ghelani. After establishing a presence in the United States across premium retail and on-premise channels, the brand is now making its India debut with a strong focus on craftsmanship, design and founder-led authenticity.

Unlike celebrity endorsement-driven labels, TIGERFIRE is positioned as a brand built directly by its founders. Dutt spent four years working with master distillers in France to shape the liquid profile, which he describes as an expression of personal resilience and reinvention.

“TIGERFIRE is not a product, it is a piece of my story,” Dutt said. “It reflects the fire that has defined my journey and the belief that no matter how hard life hits, you never give in.”

Ghelani, who has led the brand’s strategic foundation and long-term planning, said India’s emerging consumer base is ready for spirits with global quality and a strong sense of purpose. “India’s new consumer is sophisticated, globally aware, and values authenticity. TIGERFIRE was built for that audience — crafted with precision and designed to endure.”

The brand’s core philosophy, “Never Give In,” draws on themes of grit, inner strength and second chances. Its design language is similarly rooted in storytelling. Led by global brand strategist Jason DeLand, the bottle went through two years of prototyping and features black-and-rose-gold detailing, intricate filigree inspired by Indian artistry and a distinctive mark of tiger eyes modeled on Dutt’s own.

Produced in France using 100% French winter pastry wheat, naturally limestone-filtered groundwater, triple distillation, triple charcoal filtration and micro-oxygenation, the vodka carries a 95/100 rating from the Beverage Testing Institute. TIGERFIRE is positioned as an artisan, character-driven spirit with a peppery warmth, silky texture and subtle smoky finish.

The brand is targeting the premium and lifestyle-driven vodka consumer, with a design and identity built around bold minimalism and a masculine, black-led aesthetic. TIGERFIRE will first roll out in Maharashtra, Goa, Hyderabad and the National Capital Region, followed by expansion into other Indian markets and select international duty-free locations.

With the launch, Dutt and Ghelani aim to build TIGERFIRE as a long-term global platform anchored in resilience and craftsmanship, rather than a momentary celebrity-led offering.

Tilaknagar Industries Debuting Seven Islands Pure Malt Whisky

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Launch marks entry into whisky for India’s largest brandy producer
Seven Islands is an Indo-Scottish 100% Pure Malt Whisky, made with four distinct single malts

Tilaknagar Industries Ltd. (TI) has recently enterd into the premium whisky category with the launch of Seven Islands Pure Malt Whisky. Crafted from select Indian and Scottish malts, it is a distinct 100% pure malt expression.

The launch marks a significant strategic expansion for TI, best known for building India’s brandy market with icons like Mansion House and more recently, Monarch Legacy Edition, and comes on the heels of its announcement of the acquisition of Imperial Blue, the world’s third largest-selling whisky brand. With this, the 90-year-old company establishes whisky as its second major growth pillar alongside its long-standing leadership in brandy.

“India’s whisky story is evolving faster than ever, with growing consumer demand for premium and luxury expressions. Seven Islands marks TI’s entry into this dynamic category, bringing together Indian craftsmanship and global expertise to create a whisky that is both distinctly Indian and globally competitive. With whisky commanding over 60% of India’s spirits market, expanding into this category was the next natural step for us,” said Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries.

A New Style of Whisky

Seven Islands introduces a style that moves beyond the single-malt focus that has shaped recent conversations around Indian whisky. As a pure malt, it blends four single malts—two from India and two from Scotland, allowing it to draw unique characteristics from multiple distilleries, regions and maturation styles.

The Indian malts are sourced from the Himalayan foothills and the Vindhyan ranges, bringing the influence of high-altitude and tropical ageing. These are paired with malts from Speyside and the Lowlands, two of Scotland’s most recognised whisky regions. This Indo-Scottish duality creates a profile not possible through a single-region malt. With single malts driving recent premium growth, Seven Islands offers a new direction: a pure malt style shaped by two climates, two traditions, and a more complex blending philosophy.

A Tribute to Mumbai’s Seven Islands

Seven Islands takes its name from the archipelago of seven islands that once formed the city of Mumbai—the long-time home of Tilaknagar Industries and the backdrop to much of its growth. This connection is built into the bottle design. Two converging lines create the V-cut neck, hinting at the Indian and Scottish malts coming together, while fine cartographic lines reference the contours of the original islands. At the centre sits an anchor motif, a nod to Mumbai’s maritime heritage. The palette of sage, cream and gold keeps the design crisp, contemporary and quietly premium.

“Seven Islands reflects our vision for House of TI, our new vertical which includes our premium portfolio and investments arm. House of TI was created to shape our premium and craft-led portfolio, beginning with Monarch Legacy Edition. With Seven Islands, we wanted to bring a new perspective and style to Indian whisky. It felt like the right way to introduce something distinctive, and a meaningful step forward for us as we expand into the whisky category,” said Sanaya Dahanukar, Marketing Manager, Tilaknagar Industries.

The Whisky Opportunity in India

Whisky remains India’s most loved and aspirational spirits category, accounting for about 66% of total consumption in 2024 according to IWSR. By volume, Indian whisky grew 7% year-on-year in H1 2025, crossing 130 million cases and showing continued premiumisation. Exports are expanding as well, signalling rising global interest in Indian-made whiskies and premium expressions. For TI, a company that has built scale and expertise through long-standing leadership in brandy, the opportunity in whisky presents a clear and timely growth avenue.

Tasting notes:

Colour: Natural, brilliant, golden yellow.

Aroma: Smooth and inviting, with tropical fruits, dried nuts, and hints of French and American oak layered with Indian spice.
Taste: Full-bodied and balanced, with sweet, dried fruits, soft spice, creamy texture, and a touch of smoke.
Finish: Long, smooth, and warm, with lingering notes of oak, spice, and dried fruits.

Product Details:

Size: 750 ml

ABV: 42.8%
Price & Availability: `5,200 (Maharashtra)

Badshah Partners with Cartel Bros to Launch Shelter 6 Vodka

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Music artist and entrepreneur Badshah has announced the launch of Shelter 6, a new vodka developed in collaboration with Cartel Bros, known for earlier projects including The Glenwalk and The GlenJourneys with actors Sanjay Dutt and Ajay Devgan. The brand positions Shelter 6 as a space that encourages expression, individuality and inclusion.

Shelter 6 is distilled six times in Russia and features a metallic bottle design. According to the creators, the product is intended to appeal to a younger audience that values creativity and contemporary aesthetics. The name represents a sense of belonging and openness, reflecting the themes the founders aim to associate with the brand.

The company has outlined plans to enter the Maharashtra and Goa markets in November 2025. It is targeting a 25% share of India’s vodka segment and a projected valuation of ₹700 crore over the next three years. The founders describe Shelter 6 as a product built on collaborative inputs, with Badshah contributing to naming, design and visual identity.

Co-founder Mokksh Sani stated that the project marks a new direction for Cartel Bros as they look to connect craftsmanship with cultural relevance. The vodka will be introduced in major markets starting November 2025, with flavoured variants planned for release the following year.

Buffalo Trace Brings Kentucky’s Bourbon Soul to India

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Inside the distillery’s first-ever pop-up in Mumbai
Lineup in India includes Benchmark, entry-level bourbon; Buffalo Trace, the flagship; Weller Special Reserve, the wheated bourbon; and Weller 12, the longest age-stated bourbon

Buffalo Trace Distillery’s first-ever pop-up in India unfolded at Palladium Courtyard in Mumbai recently with the kind of anticipation usually reserved for a brand promotion. The pop-up held over three days, drew whiskey enthusiasts, bartenders, hotel beverage directors, curious newcomers and seasoned collectors, all of whom explored Buffalo Trace’s craftsmanship through a series of immersive zones that broke bourbon into its building blocks: mash bills, yeast strains, fermentation, distillation, warehouse aging techniques and the magical influence of Kentucky’s climate.

A scent bar helped decode nuances like vanilla, caramel, toasted oak, leather and spice, while an aroma-led tasting introduced visitors to the differences between Benchmark, Buffalo Trace’s flagship bourbon and the softer, sweeter profile of Weller Special Reserve, followed by the coveted Weller 12, the longest age-stated bourbon currently sold in India, which became an instant favourite among guests discovering wheated bourbon for the first time.

There were interactive stations explaining how warehouse location can dramatically change a bourbon’s character; a leather workshop echoing the tactile craftsmanship of barrel-making; a chocolate station that paired artisanal chocolates with different bourbons to highlight how sweetness, bitterness and earthiness interact with aged whiskey; and guided sessions that delved into why bourbon tastes the way it does, how aging works, and why American whiskey has such a distinct flavour fingerprint compared with Scotch. Guests walked away with personalised keepsakes, embossed leather, tasting notes, curated scent cards.

As Diego Bianchi, Vice President, Global Hubs at Sazerac, summed it up: “Buffalo Trace Distillery’s unwavering commitment to craftsmanship, aging and quality distilling has earned it fans across the globe, and we’re thrilled to finally share that experience with consumers in India. The energy and enthusiasm we witnessed in Mumbai was really encouraging, and we’re excited to bring similar immersive experiences to more cities across the country. Through these initiatives, we hope to deepen awareness and appreciation for our bourbon and the rich heritage of Buffalo Trace Distillery.”

Later in a telephonic interview Bianchi said, “For Buffalo Trace, this is not just another brand activation. It is the beginning of building personal, sensory connections with India’s next generation of spirits drinkers. This is our first pop-up, and it’s a big step because it finally allows us to start connecting with more consumers in a meaningful way.”

Bringing Kentucky to India — not through bottles, but through experience

“There is such incredible variety in bourbon,” he explains. “Different flavours emerge from different aging techniques, warehouse conditions, mash bills, all of these elements shape a bourbon’s character. The sensory and interactive zones are designed to help consumers understand this in a hands-on, immersive way.”

The goal is not just to showcase the brand, but to demystify the bourbon category for a market that has long been Scotch-dominant. “People shouldn’t just drink bourbon—they should understand it,” he says. “And India deserves that level of education and connection.”

Every trip to India, he says, brings evidence of how quickly bourbon is finding its footing. Bartenders in leading bars and hotel chains report rising interest in bourbon-based cocktails, Paper Planes, Old Fashioneds, Whiskey Sours. Consumers are starting to ask for bourbon by name. “Our bourbons make excellent cocktails, and we’re hearing from bartenders that people are specifically requesting them,” he says. “Cocktail culture is booming in India, and that’s a huge gateway for bourbon.”

Bourbon comes with a flexible identity: neat, on ice, in highballs, or in craft cocktails. That versatility plays well with younger drinkers who are not bound by legacy drinking habits. At a time when millions of Indians enter the legal drinking-age segment annually, Buffalo Trace sees a generational opportunity: introducing bourbon at the very start of their spirits journey.

No competition drama, just category building

“There’s so much room,” Bianchi notes. “India is one of the fastest-growing economies. As disposable incomes rise, people want to try new things. Bourbon will be one of those new explorations.” What matters, he says, is showing India the depth, heritage, and craftsmanship of bourbon, not pitching it as a replacement for anything.

Buffalo Trace’s India portfolio is compact but strategic. The lineup includes Benchmark, an approachable entry-level bourbon; Buffalo Trace, the flagship, beloved for its balance and depth; Weller Special Reserve, the wheated bourbon that appeals to softer-palate drinkers; and Weller 12–the longest age-stated bourbon currently available in India.

Distribution today is across Mumbai, Delhi and Bengaluru, but plans for broader expansion are active. “We’re in the early stages, but every visit shows progress. We see more availability, more consumer awareness, more interest.”

As regards Pop-ups, he says, “There’s no reason why we can’t do this every year or even more often. These experiences are critical. They are the most effective way to ensure consumers truly understand and enjoy bourbon.”

Allied Blenders and Distillers Launch ICONiQ Winter Whisky in New Territories

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Allied Blenders and Distillers (ABD) has announced the expansion of its successful brand ICONiQ with the launch of ICONiQ Winter International Grain Whisky in Uttar Pradesh and Haryana. Building on the consumer response in Maharashtra, this launch marks the next chapter in ABD’s journey.

ICONiQ continues to deliver growth, doubling both its volumes and market share this year in the prestige whisky category. In Uttar Pradesh, ICONiQ is now the No. 2 brand, having crossed 1 million cases in just the first five months of this financial year. The brand witnessed significant improvement in market share in both the states of Uttar Pradesh and Haryana, according to an ABD press release.

ICONiQ Winter is India’s first whisky designed specifically for the winter months. The blend combines real spices such as cinnamon, clove, nutmeg, pepper, cardamom, and ginger with select Scotch malts and Indian grain spirits. Aged in Bourbon Oak Casks, the whisky delivers a rich, smooth profile with toasted notes and a lingering, cozy finish. It captures the essence of winter through a perfect balance of warmth, comfort, and celebration, appealing to discerning consumers seeking something new yet familiar.

Alok Gupta, Managing Director at ABD, added, “ICONiQ Winter reflects our belief in innovation and understanding consumer preferences. Northern India, with its vibrant festive culture and appreciation for fine spirits, provides the ideal setting for this seasonal creation. We aim to keep the whisky experience dynamic and exciting for evolving consumers. With ICONiQ Winter, we bring warmth and craftsmanship together in a bottle that truly celebrates the season.”

In Uttar Pradesh the brand makes its debut and is priced at ₹620 for 750 ml and ₹160 for 180 ml. In Haryana, it will be available at ₹570 for 750 ml and ₹170 for 180 ml.

D’YAVOL Vortex wins ‘Best New Scotch Whisky of the Year’

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D’YAVOL Vortex has been crowned the ‘Best New Scotch Whisky of the Year’ and honoured with a Double Gold at the 2025 San Francisco Spirits Competition. A contemporary blended Scotch, D’YAVOL Vortex is crafted from a selection of single malt and single grain whiskies sourced from the Lowlands, Highlands, Speyside and Islay regions.

It opens with notes of vanilla fudge and soft peat, followed by layers of ripe orchard fruit, sherried richness, warm pecan pie, and smoky malt, before culminating in a smooth finish. With a malt-forward profile, gentle Islay influence, and a non-chill-filtered body, Vortex delivers exceptional texture, layered depth, and a nuanced palate.

On Vortex’s success, Shah Rukh Khan said, “We set out to create a brand that reflects who we are—bold, modern, and uncompromising in quality. Seeing D’YAVOL celebrated on the most coveted global stage is deeply gratifying, and a reminder that excellence will always find its audience.”

Leti Blagoeva, CEO, D’YAVOL Spirits, added, “The recognition from San Francisco comes on the heels of a remarkable run of international acclaim for Vortex, including the title of ‘Blended Scotch of the Year’ at the London Spirits Competition 2025.”

Amar Sinha, Chief Operating Officer at Radico Khaitan, commented, “Vortex exemplifies the collective ambition at the heart of D’YAVOL Spirits; to craft world-class expressions that seamlessly unite authenticity, innovation, and masterful craftsmanship. It’s immensely rewarding to see that vision resonate so powerfully across global markets and with discerning whisky connoisseurs.”

D’YAVOL’s award winning portfolio of luxury spirits also includes D’YAVOL Single Estate Vodka and D’YAVOL Inception Blended Malt Scotch, both globally awarded. The brand is currently available in India, the UAE and the UK, with further international markets to follow.

Alcobrew Distilleries Files DRHP with Sebi for ₹600-Crore IPO

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Founder to offload 18 million shares in OFS
Fresh issue proceeds earmarked for expansion and repayment/prepayment of borrowings

With its registered office at New Delhi- Alcobrew Distilleries India Ltd, the maker of whisky brands such as White & Blue and Golfer’s Shot, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for a proposed initial public offering (IPO).
The IPO consists of a fresh issue of equity shares aggregating ₹258.26 crore and an offer for sale (OFS) of up to 18 million shares by promoter Romesh Pandita, the founder and chairman of the company. The equity shares carry a face value of ₹10 each. Other promoters include Veena Pandita and the Romesh Pandita Family Trust.
According to the DRHP, Alcobrew plans to utilise the net proceeds from the fresh issue for business expansion, Repayment/prepayment of borrowings, and general corporate purposes. As per regulatory guidelines, 50% of the issue will be reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.
Founded in 2002, Alcobrew Distilleries was converted into a public limited company in 2022. The Company manufactures, markets, and sells a wide range of alcoholic beverages, including whisky, vodka, and rum. Its brand portfolio spans premium and mass-market offerings such as Golden circle, Golfer’s Shot (premium whisky), White & Blue (blended whisky), White Hills (regular whisky), and One More (vodka).
The company operates manufacturing units in Solan (Himachal Pradesh) and Dera Bassi (Punjab) with integrated distillation and bottling facilities. It has also built a robust distribution network supported by contract manufacturing arrangements, giving it a strong pan-India presence.
In addition to domestic operations, Alcobrew has been expanding its global footprint. The company currently exports to countries across Africa, Asia, and the Middle East,. It continues to scout new overseas markets to strengthen its position among India’s emerging liquor exporters.
On the financial front, Alcobrew reported consolidated revenue of ₹1,615.01 crore in FY25, compared to ₹1,640.11 crore in FY24 and ₹1,216.87 crore in FY23. Its profit after tax (PAT) rose to ₹69.45 crore in FY25, up from ₹62.55 crore in FY24 and ₹52.30 crore in FY23.
India’s alcoholic beverages market has been witnessing strong growth, fuelled by rising disposable incomes, premiumisation, and evolving consumer tastes. Industry experts believe Alcobrew’s diverse brand portfolio, integrated operations, and growing international presence position it well to tap this demand.
Motilal Oswal Investment Advisors is the book-running lead manager to the issue, while KFin Technologies will act as the registrar.

Jim Beam and Cadillac Formula 1 Global Partnership

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Two American originals united on one world stage

Jim Beam bourbon, and the Cadillac Formula 1 Team, have entered into a multi-year global partnership that brings together two of the most iconic names in American culture, now united on the world’s fastest stage: Formula 1. In 2026, the Cadillac Formula 1 Team will enter the FIA Formula 1 World Championship as the first new addition to the grid since 2016, with Jim Beam as its Official Spirits Partner.

Formed by TWG Motorsports and General Motors, the Cadillac Formula 1 Team brings together a legacy of engineering excellence and a shared commitment to innovation and performance—representing a new chapter in American participation on the global Formula 1 stage.

“More than a sponsorship, this story has been 90 years in the making. Every evening, Jim Beam, the brand’s legendary founder, would place a mason jar of his proprietary yeast—the living heart of his protected recipe—in the front seat of his Cadillac and drive it home to protect it from fire and prohibition. This daily ritual preserved the essential ingredient that still defines Jim Beam’s unmatched flavour enjoyed today around the world. Today, Fred Noe, Jim Beam’s seventh generation master distiller, still drives a Cadillac, a quiet tribute to the car that helped safeguard his family legacy,” a release from Jim Beam said.

“We are excited to bring the soul of Kentucky to the global stage of Formula 1 with Cadillac, a brand that’s been part of the Beam family’s story through the ages,” said Rashidi Hodari, managing director, James B. Beam Distilling Co.

“Both car racing and making Jim Beam bourbon require every individual and moving part to come together to create a positive collective outcome. The pit crew and our distillery workers both rely on the power of their communities to win. It’s this common understanding and the importance of connection with the next generation of Formula 1 fans that inspires us.”

With a vision to help the sport reach new audiences, the Official Partnership will come to life both on and off the track through immersive fan experiences with a focus on alcohol responsibility, retail and trade activations, and most importantly, a desire to bring people together.

“This partnership brings together two icons of American heritage to create something truly special,” said Cadillac Formula 1 Team Chief Executive Officer Dan Towriss. “Formula 1 is a global stage, and we want to take our fans on this journey with us every step of the way. Our vision goes beyond racing—we’re building a team that lives where sport, technology, and culture collide. With Jim Beam joining our family of partners, the momentum behind this project grows stronger every day as we gear up for our debut next year.”

With a core value of connection, uniting fans across the world, sport and music have always played a role in the Jim Beam brand’s heritage. From sponsoring the National Football League’s (NFL)Kansas City Chiefs and Dallas Cowboys, the Major League Baseball’s (MLB) L.A. Dodgers, and the United States Soccer Federation (U.S.S.F), to car racing including the Indianapolis 500 and NASCAR in the U.S., and Dick Johnson Racing (DJR), Australia’s oldest racing team. The brand has also brought fans together through local music festivals and underground shows around the world, and with global musical acts such as Muse and LeSserafim.