logo
India's Whisky Revolution: Rising Stars Of Single Malt

India's Whisky Revolution: Rising Stars Of Single Malt

Forbes09-07-2025
Two Whiskey Glasses with Ice Cubes Floating in the Air getty
India is the world's largest producer and consumer of whisky. Only in recent decades, however, has it become a serious contender in the global premium whisky scene. Once dominated by mass-market blends and molasses-based spirits sold as 'whisky,' India now produces some of the world's finest single malts, earning critical acclaim and international awards. Below is a brief overview of India's leading single malt producers and their whiskies.
Whisky arrived in India during British colonial rule. British expatriates introduced their preference for Scotch whisky to the region, and the spirit quickly gained popularity there.
Historically, Indian distillation was mostly industrial, prioritizing low cost and high volume over quality. Until the late 20th century, 'Indian whisky' was often a spirit made from fermented molasses, a method not recognized as 'whisky' by international standards.
It wasn't until the late 20th century that India began to develop a growing premium market for grain-based whisky, aligning with the country's economic liberalization and the rapid expansion of its middle class.
In the early 2000s, the Amrut distillery introduced India's first single malt, transforming perceptions of what Indian whisky could be. Other Indian whisky producers soon followed. The Rise of Indian Single Malt Whisky
The launch of Amrut Fusion in 2009 marked a significant milestone. Made from a blend of Indian and Scottish barley and aged in Bangalore's hot, dry climate, Fusion received praise from critics and was even featured in Jim Murray's Whisky Bible. It was the first Indian single malt to consistently earn medals at international spirit competitions.
Since then, the category has experienced rapid growth, driven by rising demand for premium spirits among India's urban middle-class consumers and increasing international recognition.
India's single malt whiskies now hold a niche but influential position in the global market, standing alongside well-known brands from Scotland and Japan. The primary challenge is the climate's impact on maturation.
Whisky matures much faster in India's hot climate. Typical 'angel's share' losses of 12–15% annually are common, compared to Scotland's 2%. This shorter aging period makes it difficult to achieve balanced maturation. However, rapid aging also produces the bold, flavorful profiles that distinguish Indian malts.
Below is a brief overview of India's leading single malt whisky producers, along with a short description of their aroma and taste profiles. Prices listed are for the entry-level expressions.
BANGALORE, INDIA - FEBRUARY 19: Images of Amrut whisky products and single Malt Amrut whiskies (Photo by Hemant Mishra/Mint via Getty Images) Hindustan Times via Getty Images Amrut Distilleries, Bangalore, Karnataka $62
Flagship Malts: Amrut Fusion, Amrut Peated, Amrut Single Malt
Founded in 1948, Amrut is recognized for launching India's first authentic single malt whisky. Located in the dry climate of Bangalore, at the heart of the high-altitude Mysore Plateau, Amrut whiskies age faster than their Scottish counterparts. Although this accelerated aging presents challenges, it also results in more extractive processes that develop intense flavors in less time.
Amrut Fusion exemplifies the distillery's typical aroma and flavor profile. On the nose, it offers notes of rich cooked cereal or barley malt, tropical fruit, toffee, and a hint of smoke. The palate displays wood spices, seasoned oak, cocoa, citrus zest, and a balance of sweet and smoky flavors. The finish is long and warming, with lingering spicy and fruity notes.
Amrut's whiskies are bottled without chill filtration or artificial coloring. Their experimentation with peated barley and port cask finishes has further expanded their whisky's aroma and flavor profile. Paul John, Paul John Brilliance, Goa $33
Flagship Malts: Paul John Brilliance, Paul John Edited, Paul John Bold
Paul John whisky was launched in 2012 by John Distillery. It quickly gained a reputation for elegance, balance, and a tropically influenced complexity. Goa's hot, humid climate accelerates aging while imparting the spirit's unique characteristics. The brand has earned multiple medals at international spirit competitions, cementing its position among the top Indian whiskies.
Paul John Brilliance reflects the typical aroma and taste profile of Paul John's whiskies. On the nose, it offers notes of honey, cooked cereal or barley malt, vanilla, and light citrus aromas. The palate has a creamy texture, with hints of spice, cinnamon, and a subtle sweetness. The finish is long, smooth, and slightly peppery.
Paul John Edited and Bold highlight different levels of peat, providing Indian interpretations of smoky and peaty malt styles. Rampur, Uttar Pradesh, Rampur Asava $74
Flagship Malts: Rampur Select, Rampur Double Cask, Rampur Asava
Owned by Radico Khaitan, one of India's oldest liquor companies, Rampur Single Malt was launched in 2016 and has quickly gained popularity in international markets. Aged in the Himalayan foothills, Rampur's whisky reflects a unique, cooler microclimate.
Rampur Select is floral and fruity, with notes of ripe apple, apricot, and honey, along with subtle floral undertones. It is spicy and flavorful on the palate, revealing hints of fruitcake, vanilla, and dried fruit. The finish is long and elegant, with lingering notes of seasoned oak and spices.
Rampur Asava is especially notable for its finish in Indian Cabernet Sauvignon casks. This was the first case of an Indian malt whisky finished in a domestically produced wine cask. Kamet, Kurukshetra, Haryana $51
Flagship Malt: Kamet Single Malt
Launched in 2020, Kamet is a joint venture between Piccadilly Distillery and Peak Spirits. Kamet is matured in ex-Bourbon, wine, and Sherry casks. The whisky reflects Indian terroir while appealing to global palates.
The whisky shows a noticeable Sherry influence. It features notes of golden raisins, dried fruit, sweet spices, and vanilla. It's rich, flavorful, and complex on the palate, revealing hints of chocolate, dried fruit, and leather. The finish is long and fruity, with lingering notes of roasted nuts and subtle seasoned oak.
The still room at the Indri whisky distillery Photo, courtesy Indri/Picadily Distillery Indri, Haryana, Indri-Trini, $58
Flagship Malt: Indri-Trini, DRU Single Malt, Indri 7 YO Red Wine Cask.
One of the newest entrants in the Indian single malt scene, Indri-Trini is produced by Piccadilly Distilleries. It features a unique triple cask maturation process using ex-Bourbon, French wine, and PX Sherry casks. Launched in 2021, it has quickly gained recognition for quality and affordability.
Indri whisky offers notes of vanilla, orange zest, sweet spices, and various fruits. It is smooth on the palate, with a distinctive viscosity and flavors of dried fruit, citrus, spices, and chocolate. The whisky is medium length and warming, with lingering notes of spice and seasoned oak. Looking Ahead
India's tropical climate offers both opportunities and challenges. The rapid maturation allows distillers to create rich, flavorful whiskies. However, it also results in higher evaporation rates and increased risks of over-extraction and over-oaking.
To handle the challenges of India's hot climate, Indian distillers have become skilled at shorter barrel aging, using various cask types for wine and sherry finishes, and closely managing warehouse environmental conditions.
Water sources, indigenous barley varieties, a hot climate, and seasonal changes resulting from the monsoon cycle contribute to the unique regional signatures. Although there is currently no single malt whisky regulation in India comparable to Scotland's, many producers follow international best practices, avoiding additives and chill filtration.
India's single malt market is small but growing quickly. Domestic demand is fueled by an urban middle class switching from blends to craft spirits. Meanwhile, export demand continues to rise as Indian malts appeal to global connoisseurs. New producers and experimental batches, including cask finishes in Indian wine barrels, sherry butts, and rum casks, show that innovation is just beginning.
Indian single malts are no longer novelties. They're credible, collectible, and growing more sought after. With their bold character, unique terroir, and impressive complexity, Indian whiskies are beginning a new chapter in the global whisky story — one sip at a time. Their very attractive prices are a bonus. If you're not familiar with Indian single malts, now is a great time to start exploring. More from Forbes Forbes The Top Single Malt Scotch Whisky, According To The International Wine And Spirit Competition By Joseph V Micallef Forbes Best American Single Malt Whiskey From The 2025 San Francisco World Spirits Competition By Joseph V Micallef Forbes Top Irish Single Malt Whiskey, According To The San Francisco World Spirits Competition By Joseph V Micallef
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Mettler-Toledo International Inc (MTD) Q2 2025 Earnings Call Highlights: Navigating Growth ...
Mettler-Toledo International Inc (MTD) Q2 2025 Earnings Call Highlights: Navigating Growth ...

Yahoo

time40 minutes ago

  • Yahoo

Mettler-Toledo International Inc (MTD) Q2 2025 Earnings Call Highlights: Navigating Growth ...

Revenue: $983 million, a 2% increase in local currency and a 4% increase on a US dollar reported basis. Gross Margin: 59.0%, a decrease of 70 basis points. Adjusted Operating Profit: $283.3 million, flat versus the prior year. Adjusted Operating Margin: 28.8%, a decrease of 120 basis points. Adjusted EPS: $10.09, a 5% increase over the prior year. Reported EPS: $9.76, compared to $10.37 in the prior year. R&D Expenses: $49.3 million, a 3% increase in local currency. SG&A Expenses: $247.3 million, a 2% increase in local currency. Effective Tax Rate: 19%. Adjusted Free Cash Flow: $409 million for the first six months, a 3% decrease on a per share basis. Local Currency Sales Growth by Region: Americas up 3%, Europe flat, Asia Rest of the World up 3%, China down 2%. Local Currency Sales Growth by Product Area: Laboratory up 1%, Industrial up 4%, Product Inspection up 8%, Food Retail flat. Guidance for Q3 2025: Local currency sales growth of 3% to 4%, adjusted EPS of $10.55 to $10.75. Full Year 2025 Guidance: Local currency sales growth of 1% to 2%, adjusted EPS range of $41.70 to $42.20. Warning! GuruFocus has detected 5 Warning Signs with NSP. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Mettler-Toledo International Inc (NYSE:MTD) reported solid adjusted EPS growth despite challenging market conditions. The company experienced growth in most of its businesses, particularly in the industrial and product inspection segments. Innovative product portfolio and strategic programs continue to benefit the company, with strong performance in bioprocessing-related sales. The company is well-positioned to benefit from onshoring investments and increased automation demand. Service business showed a 4% growth in the quarter, with expectations for continued growth in the second half of the year. Negative Points Global trade disputes and tariffs, particularly the recent increase in US tariffs on imports from Switzerland, pose significant challenges. Local currency sales in China declined by 2% during the quarter, with expectations of continued softness in the market. Gross margin decreased by 70 basis points due to incremental travel costs and lower volumes. Adjusted operating margin decreased by 120 basis points, with tariffs reducing operating margin by approximately 130 basis points. The company faces uncertainty in market conditions due to geopolitical tensions and potential new tariffs. Q & A Highlights Q: Shawn, regarding the EPS guidance, is the $0.40 reduction due to the Swiss tariffs the gross impact, or does it include some offset activities? A: Shawn Vadala, CFO: The $0.40 is the gross headwind. There's limited time left in the year to mitigate this impact, but we are confident about our ability to mitigate it for next year. For Q3, we don't see much impact due to current inventory levels, but Q4 will be challenging to mitigate. Q: Can you elaborate on the strength in product inspection and whether your full-year forecast for that business has changed? A: Patrick Kaltenbach, CEO: We've expanded our product portfolio significantly, targeting both mid-range and high-end markets, which has led to market share gains. We expect continued growth in product inspection, with guidance now at mid- to high-single digits for the year, up from mid-single digits previously. Q: How is the visibility into demand in China changing, and does it affect your forecast? A: Shawn Vadala, CFO: Before the recent tariff changes, we were feeling more positive about China. We delivered a good quarter despite challenging conditions and saw stabilizing trends, particularly in industrial. However, the recent tariff changes add uncertainty, but we don't expect conditions to worsen significantly. Q: Regarding the onshoring trend, when do you expect the CapEx announcements to translate into orders and revenue for Mettler-Toledo? A: Patrick Kaltenbach, CEO: It's still early, but we expect to see the impact starting in 2026, with more momentum in subsequent years. We are in discussions with customers about their reshoring plans and are well-positioned to benefit from these developments. Q: Can you discuss the replacement cycle and whether there's pent-up demand that could lead to a snapback in spending? A: Shawn Vadala, CFO: Pre-COVID, 80-90% of our business in the West was replacement. We've seen a slowdown in replacement cycles due to uncertainty, but as conditions stabilize, we expect a return to normal replacement spending. It's unclear if this will be gradual or a snapback, but we anticipate increased activity as certainty returns. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.

ACCO Brands Corp (ACCO) Q2 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
ACCO Brands Corp (ACCO) Q2 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...

Yahoo

time40 minutes ago

  • Yahoo

ACCO Brands Corp (ACCO) Q2 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...

Revenue: Second quarter sales decreased by 10%. Gross Profit: $130 million, a decrease of 15% with a margin rate contraction of 200 basis points to 32.9%. SG&A Expense: $83 million, down due to cost reduction actions and lower incentive compensation expense. Adjusted Operating Income: $47 million, down from $65 million a year ago. Americas Segment Sales: Declined 14% due to purchasing disruption and soft demand. International Segment Sales: Declined 4%, with improved demand in Asia and benefits from the bureau seating acquisition in Australia. Adjusted Free Cash Flow: Year-to-date outflow of $24 million, including $17 million from the sale of two facilities. Leverage Ratio: Finished the quarter with a consolidated leverage ratio of 4.3 times. Adjusted EPS Outlook: Full year range of $0.83 to $0.90. Full Year Sales Outlook: Expected to be down 7% to 8.5%. Third Quarter Sales Outlook: Expected to be down 5% to 8%. Third Quarter Adjusted EPS Outlook: Range of $0.21 to $0.24. Warning! GuruFocus has detected 3 Warning Signs with ACCO. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points ACCO Brands Corp (NYSE:ACCO) reported second quarter sales and adjusted EPS in line with their outlook. The company has made significant progress on its $100 million multi-year cost reduction program, achieving over $40 million in savings. ACCO Brands Corp (NYSE:ACCO) has successfully implemented strategic price increases and improved terms with third-party manufacturing partners to protect profitability. The company is expanding its product offerings, including new gaming accessories for the Nintendo Switch and a Thunderbolt 5 docking station for Apple users. ACCO Brands Corp (NYSE:ACCO) has a strong balance sheet with no debt maturity until 2029 and a history of consistent cash flow generation. Negative Points Consolidated second quarter comparable sales were down 10.5%, with significant declines in the Americas segment due to tariff disruptions. Sales for back-to-school products were down, with US retailers cautious about early season orders. The company faced weaker-than-expected sales in Latin America, particularly in Mexico, due to constrained consumer spending and competition at lower price points. Global sales of office products were soft, with lower demand impacting core offerings. The evolving tariff environment continues to create uncertainty, impacting demand and leading to a cautious outlook for the remainder of the year. Q & A Highlights Q: Can you quantify the decline in back-to-school sales and discuss the impact of tariffs and market demand on this segment? A: The decline is due to a mix of factors, including shifts into the first quarter, softness in customer orders, and some shifts into the third quarter. We are early in the season, with less than 10% of sell-through completed. We have ensured good inventory positions to support potential demand increases, but it's too early to predict consumer behavior. Retailers are managing inventory tightly, and replenishment expectations are low, but we hope for better outcomes as the season progresses. - Thomas Tedford, CEO Q: How will new product developments contribute to revenue in the second half of 2025 and beyond? A: The impact of new products will be modest in the second half of 2025. It takes time to get product syndication and listings. We expect some benefit from Switch 2 accessories in the second half, but significant revenue impact will be seen in 2026 and beyond. - Thomas Tedford, CEO Q: Are you making adjustments to your product assortment in response to current demand trends, particularly in light of Chinese competition? A: We have a good offering of price choices in our portfolio and collaborate with customers to hit price targets. In markets like Brazil, we are repositioning products to remain competitive against lower-cost Chinese competitors. We are adjusting assortments to ensure we meet consumer needs at competitive price points. - Thomas Tedford, CEO Q: How are the price increases expected to impact gross margins in the second half of the year? A: We expect gross margins to modestly improve in the second half. Our pricing initiatives are designed to cover tariff costs and maintain margins. While we took hits in the first half, we anticipate recovery in the latter half of the year. - Deborah O'Connor, CFO Q: Can you provide more details on the asset sale mentioned in the release and any future asset sales planned? A: The asset sale primarily involved our New York location, which was closed and sold as part of our footprint rationalization and cost savings initiative. We do not have any additional asset sales planned at this time. - Deborah O'Connor, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

W.W. Grainger Inc (GWW) Q2 2025 Earnings Call Highlights: Strong Sales Growth Amid Margin Pressures
W.W. Grainger Inc (GWW) Q2 2025 Earnings Call Highlights: Strong Sales Growth Amid Margin Pressures

Yahoo

time40 minutes ago

  • Yahoo

W.W. Grainger Inc (GWW) Q2 2025 Earnings Call Highlights: Strong Sales Growth Amid Margin Pressures

Total Sales: Nearly $4.6 billion, up 5.6% or 5.1% on a daily constant currency basis. Operating Margin: 14.9%, down 50 basis points compared to 2024. Diluted EPS: $9.97, up $0.21 or 2.2% compared to the prior-year period. Operating Cash Flow: $377 million. Shareholder Returns: $336 million returned through dividends and share repurchases. High-Touch Solutions Sales Growth: Up 2.5% on a reported basis, 2.8% on a daily constant currency basis. High-Touch Solutions Gross Margin: 41%, down 70 basis points versus prior year. Endless Assortment Sales Growth: 19.7% increase, 16.3% on a daily constant currency basis. Endless Assortment Operating Margin: Increased by 200 basis points to 9.9%. Zoro US Sales Growth: Up 20%. MonotaRO Sales Growth: 16.4% growth in local days local constant currency. Updated 2025 EPS Outlook: Between $38.50 and $40.25, up roughly 1% year over year at the midpoint. Capital Expenditures Increase: $100 million increase due to timing of DC network investments. Warning! GuruFocus has detected 4 Warning Sign with GGB. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points W.W. Grainger Inc (NYSE:GWW) reported a 5.6% increase in total company sales for the second quarter, reaching nearly $4.6 billion. The Endless Assortment segment showed strong growth, with sales increasing by 19.7%, driven by Zoro US and MonotaRO. Operating margins for the Endless Assortment segment improved by 200 basis points to 9.9%, indicating strong profitability. The company returned $336 million to shareholders through dividends and share repurchases, demonstrating a commitment to shareholder value. W.W. Grainger Inc (NYSE:GWW) maintained strong supplier relationships and digital capabilities, enhancing its ability to deliver value to customers. Negative Points The company faced gross margin softness due to segment mix and tariff-related impacts, including LIFO inventory accounting noise. Operating margins for the total company decreased by 50 basis points compared to the previous year, impacted by LIFO inventory valuation headwinds. The MRO market remained muted and softer than expected, affecting growth in certain areas of the business. Price/cost timing pressures and LIFO headwinds are expected to impact performance in the second half of the year. The company lowered its earnings outlook for 2025 due to tariff-related price/cost timing headwinds and LIFO valuation impacts. Q & A Highlights Q: How would the second-half outlook change if you were on average cost accounting instead of LIFO? A: Deidra Merriwether, CFO, explained that while performance would differ under FIFO, the underlying operations remain similar. The LIFO impact is a timing factor, and without it, EPS would have been up over 6% year-over-year instead of 2%. Q: Can you provide insight into the decision to delay the second batch of inflationary price increases until September? A: Donald Macpherson, CEO, stated that the decision was made to maintain customer stability. The company considered various options but decided that aligning price increases with the regular cycle was best for customer relations. Q: What factors contributed to the strong performance of Zoro, and what changes were made in pricing and SKU count? A: Macpherson noted that Zoro improved customer targeting and retention, leveraging MonotaRO's strategies. The SKU reduction aimed to enhance customer experience by eliminating low-volume items, with no impact on financial performance. Q: Why aren't we seeing the same customer reliance on Grainger during this period of disruption as during COVID? A: Macpherson explained that the current disruption is less about supply issues, unlike during COVID. The company remains confident in passing price increases and believes it is gaining market share, as indicated by internal metrics. Q: How does the updated gross margin guidance split between LIFO pressures and price/cost timing? A: Merriwether stated that the majority of the gross margin impact is due to LIFO, with an 80 basis point impact on the High-Touch segment. Price/cost timing has a smaller effect, and gross margins are expected to improve as pricing takes hold. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store