Liquor Maker Pernod Ricard India Rakes In Rs 25,000 Crore Revenue In FY23

Spirits maker Pernod Ricard India has posted a revenue of over Rs 25,000 for 2022-23, registering a 10% growth on an annual basis.

The company, which owns popular brands such as Absolut, Chivas Regal, and Glenlivet, however, saw an 8% decline in profit to Rs 1,340.22 crore in FY23. It had posted a profit of Rs 1,457.98 crore in FY22.

The company's consolidated revenue from operations in FY23 was Rs 25,039.47 crore, 10.1% higher than Rs 22,741.40 crore a year ago, according to financial data accessed by business intelligence platform Tofler.

Pernod Ricard India has paid a total excise duty of Rs 13,112.61 crore in FY23, almost 2% higher than Rs 12,857.74 crore a year earlier, as per the data.

The total tax deposited by Pernod Ricard during 2022-23, was at Rs 19,002 crore, which is 76% (approx) of its revenue from operations towards taxes & duties (direct & indirect) to the Centre and state governments, it said.

Pernod Ricard India's total income was at Rs 25,152.66 crore in FY23, up 9.54%. It was at Rs 22,960.67 crore a year ago.

United Spirits Ltd (USL), controlled by British spirits maker Diageo, still leads the fast-growing Indian market with revenue from operations of Rs 27,815.4 crore on a consolidated basis.

USL's total income, including other revenues, was Rs 27,888.5 crore for FY23.

Pernod Ricard India is a fully owned subsidiary of Pernod Ricard South Asia, which is a step down unit of the French spirits maker.

Pernod Ricard's global portfolio comprises over 200 premium brands, including 100 Pipers, Chivas Regal, The Glenlivet, Absolut, Havana Club, and Jacob's Creek. It also owns IMFL brands such as Blenders Pride, Imperial Blue, and Royal Stag.

India is the second largest market globally for Pernod Ricard after the US.

Recently, Pernod Ricard India MD Jean Touboul in an interaction with PTI had said that he expects a threefold jump in sales in the country by next decade, led by macroeconomic tailwinds, favourable demographic dividend and growing premiumisation in IMFL and imported brands.

"We are growing faster with the tailwinds in macroeconomics, in demographic and India being the most populous country on earth, I am personally convinced that yes, we will be the market number one in Pernod Ricard at some point," he said.

However, Touboul also added, "I just cannot tell you if it will be in 10 years, 15 years, that is not easy to predict but my conviction is that yes, one day India will be the market number one for Pernod Ricard." "Currently, the IMFL (Indian-Made Foreign Liquor) brand of Pernod Ricard contributes close to 95% of its volumes and above 80% of our net sales," he added.