Amrut: Investors want to raise a toast amid single malt whiskey wave and global cheers
Amrut Distilleries has seen investment interests from many but it has not considered to tinker with shareholding at a time when Indian single malt whiskey business is on an upswing amid a premiumisation drive in the country.
Amrut has seen interests from many investors in recent times, Rakshit N. Jagdale, managing director, Amrut Distillers, told ET Online, without revealing further details. The company also hasn't considered to tap into the markets with D-Street listing as of now but the aim remains to increase exports and grab larger market share.
The single malt whisky accounts for about 25% to 26% of Rs 500 crore annual turnover now and the share of this luxury category is expected to account for 35-40% of total turnover in five years, Jagdale added.
Indian single malt from global biggies. A worry?
Indian single malts have cornered a share of around 53% of total sales in 2023, according to early estimates by industry body Confederation of Indian Alcoholic Beverage Companies (CIABC). Out of the approximately 675,000 cases (each containing nine liters) of single malts sold in India last year, Indian-origin producers accounted for around 345,000 cases, with Scottish and other producers accounting for the remaining 330,000 cases.
While desi single malts are alluring to consumers increasingly, global biggies are now also launching local brands. Pernod Ricard launched Longitude 77 an Diageo launched Godawan to name a few.
However, Jagdale is unfettered by the global biggies' play in this market and thinks this
