‘Smoke’ vodka owner NV Group to launch new premium variants
₹70 crore to develop and produce new brands and products in the last five years, said Jain. The Rajpura, Punjab-based parent, NV Distilleries & Breweries also makes Blue Moon gin, the Royal Envy whisky and mass whisky under the Party Special brand, as well as Smoke vodka. It posted a turnover of ₹1120 crore for FY23, and expects to close this year at ₹1,250-1,300 crore, with a 10% compound annual growth rate (CAGR), said Jain.
Most of its revenue is generated from the commodities segment, and as the company expands its premium spirits portfolio, Jain expects the firm to reduce its reliance on cyclical industries. The commodity segment comprises extra neutral alcohol (ENA: highly purified and neutral spirit derived from grains, sugarcane, or molasses, used to produce alcoholic beverages, including vodka and gin). Around 95% of its business comes from domestic production and a smaller share from its overseas business, where it primarily retails its vodka.
The company expects its Mohulo gin, priced at ₹5000-5500 per bottle, , to contribute to its revenue stream, Jain said. “We are fully focussed on increasing our overseas business to 8-10% in FY24." he added. “The Indian alcoholic beverage market has experienced increasing competition in the premium spirits category in the last two years, especially post-pandemic.
This is due to the launch of several new spirits across more expensive and premium categories like rum, whisky and gin. For instance, this year alone nearly half a dozen firms including Radico Khaitan, Stilldistilling Spirits, Spaceman Spirits, and Third Eye Distillery Holdings have launched new brands and variants. This increase in premium categories is being driven by a growing consumer acceptance of Indian
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