Allied Blenders & Distillers Ltd., makers of Officer's Choice whiskey, is targeting double-digit growth in the current financial year after clearing out all its debts, which were settled from the proceeds of the initial public offering, according to Managing Director Alok Gupta.
“Right now, we just have a working capital and no other debt sitting on our books," Gupta told NDTV Profit. "We are looking at interest costs coming down by almost 50%, which brings us cash in the system to drive growth."
Alok GuptaWe are looking to drive a double-digit growth (in revenue).Heritage Foods Targets Rs 700 Crore Revenue From Ice Cream Business In Next 5 Years
ABDL, which mainly manufactures whisky, launched its first premium gin in January. The company is now planning to launch several premium alcohol brands in its efforts for growth.
"There is a lot of action going on. The outlook on this segment is that over the next three to five years, if we get a double-digit market share, we would be in a happy space," the managing director said,
ABDL launched Zoya premium gin in Haryana in January and it is getting launched in about 10 markets, he said. "We are happy with the playbook and the way the brand is getting its response."
The company also has the launch of luxury vodka, malted scotch and a premium dark rum in the pipeline, according to Gupta.
With the festive season coming and the company’s foray into the premium segment, Gupta said the second half of the fiscal looked better as compared to the first half, which he said was "choppy" for the businesses.
Commenting on the impact of the new liquor policy in Andhra Pradesh, Gupta added the changes would help ABDL's performance. “As private retail comes in, we are hopeful that we will be back to our earlier level (of 4 million cases), if not better,” he said.
Watch The Video Here
Ceigall India’s Bhagat Singh Says Turnover Of Rs 1,000 Crore Expected From NHAI Projects. Read more on Business News by NDTV Profit.