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Jun, 05 2017

Pincon Spirits aims to expand footprint to four new southern markets

In the current fiscal, it will launch new whiskey in 10 states and enter Kerala

Liquor company, Pincon Spirits, which reported Rs 1561.72 crore revenue in FY16-17, is looking at doubling its revenue to Rs 3000 crore by 2020 as it continues to focus on mass market segments.

According to the company, there is big opportunity for growth of players like Pincon Spirits as large liquor companies are vacating low-priced segment focus on premiumisation.

In the current fiscal, Pincon Spirits is eyeing 20 per cent revenue growth through new product launches, entering new markets and consolidating its manufacturing operations and increase brand spending.

The spirits maker also plans to expand its footprint to four new southern markets of Kerala, Puducherry, Goa and Tamil Nadu.

The company said, "In the current fiscal, it will launch new whiskey in 10 states and enter Kerala."

The company, which also sells edible oils, is looking at widening its FMCG presence from 9 states to pan-India.

Pincon Spirits has charted out a capex of Rs 300 crore during the current fiscal in enhancing distilleries capacity, increasing retail chain and expanding footprint.

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