Radico Khaitan, one of the largest liquor makers in India, said that Magic Moments is the seventh-largest vodka brand in the world after selling over 6 million cases of the brand and raking in over ₹1,000 crore in sales.
The Delhi-based company’s total consolidated revenue for the financial year ending March 2024 was ₹15,483 crore. Profit for the period grew 19% to ₹262.27 crore.
Rising affluence in some sections of Indian society has led to a sharp increase in liquor consumption in India and Magic Moments has been one of the beneficiaries of the trend.
The company has been investing in making it a premium brand with new variants and marketing initiatives.
ALSO READ: Liquor stocks surged by up to 62% over the past year: What drove the rally?
While the overall volume growth for the company was 1.7% in FY24, the number of units of Magic Moments sold grew by 21%, and its market share in India (among vodkas) has reached 60%, according to the company.
The annual volume growth in all premium products of Radico Khaitan was 20.3% at the end of March 2024.
Some of the company’s — which started making its own brands of liquor with 8PM Whisky in 1998 — other brands include Rampur single malt, Royal Ranthambore in whisky, and Morpheus brandy.
Most liquor consumers in India prefer whisky to other drinks.
ALSO READ: World Whiskey Day | 7 lesser-know brands that are gaining popularity around the world: Check price in Mumbai
The New Delhi-based Radico Khaitan has a manufacturing capacity of 320 million litres and operates 41 bottling units, five of which are, 28 are on contract and eight others are royalty bottling units, in India. Its products are exported to over 102 countries.
ALSO READ: World's Best Whisky: This ₹9,390 Indian single malt bags top honour in premium spirit
The Delhi-based company’s total consolidated revenue for the financial year ending March 2024 was ₹15,483 crore. Profit for the period grew 19% to ₹262.27 crore.
Rising affluence in some sections of Indian society has led to a sharp increase in liquor consumption in India and Magic Moments has been one of the beneficiaries of the trend.
The company has been investing in making it a premium brand with new variants and marketing initiatives.
ALSO READ: Liquor stocks surged by up to 62% over the past year: What drove the rally?
While the overall volume growth for the company was 1.7% in FY24, the number of units of Magic Moments sold grew by 21%, and its market share in India (among vodkas) has reached 60%, according to the company.
The annual volume growth in all premium products of Radico Khaitan was 20.3% at the end of March 2024.
Some of the company’s — which started making its own brands of liquor with 8PM Whisky in 1998 — other brands include Rampur single malt, Royal Ranthambore in whisky, and Morpheus brandy.
Most liquor consumers in India prefer whisky to other drinks.
ALSO READ: World Whiskey Day | 7 lesser-know brands that are gaining popularity around the world: Check price in Mumbai
The New Delhi-based Radico Khaitan has a manufacturing capacity of 320 million litres and operates 41 bottling units, five of which are, 28 are on contract and eight others are royalty bottling units, in India. Its products are exported to over 102 countries.
ALSO READ: World's Best Whisky: This ₹9,390 Indian single malt bags top honour in premium spirit
First Published: May 20, 2024 11:45 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
