Latest news with #IndianMadeForeignLiquor
Time of India
20 hours ago
- Business
- Time of India
Jagatjit Industries eyes ₹550 crore annual revenue from new grain-based ethanol plant in Punjab
Jagatjit Industries Ltd on Monday said it has commenced commercial production of its grain-based ethanol plant in Punjab and is expecting an annual revenue of ₹550 crore from the plant. The capacity of this plant, located at Hamira in Kapurthula district of Punjab, is 200 kilolitres per day. "Running at full capacity, the facility is expected to generate up to ₹550 crore in annual turnover and widen the Group's EBITDA margin by approximately 8-10 percentage points," the company said in a statement. In its first, partial year of operation, the plant should add about Rs 300 crore to EBITDA (earnings before interest, taxes, depreciation and amortisation). At full capacity, it could supply up to 65-70 million litres of ethanol per year to Oil Marketing Companies (OMCs). "With a Rs 550 crore annual topline opportunity and an 8-10 per cent margin lift, it brings stable, high-quality revenue that strengthens our balance sheet and funds our next phase of growth across premium spirits and new markets," Roshini Sanah Jaiswal, Promoter & Executive Director of Jagatjit Industries, said. Founded in 1944, Jagatjit Industries Limited (JIL) manufactures Indian Made Foreign Liquor (IMFL) and Country Liquor (CL) in the country. The company is listed on the BSE. The company has plants in Punjab along with other manufacturing units in Behror, Rajasthan.
Time of India
a day ago
- Business
- Time of India
Jagatjit Industries eyes Rs 550 crore annual revenue from new grain-based ethanol plant in Punjab
Jagatjit Industries Ltd on Monday said it has commenced commercial production of its grain-based ethanol plant in Punjab and is expecting an annual revenue of Rs 550 crore from the plant. The capacity of this plant, located at Hamira in Kapurthula district of Punjab, is 200 kilolitres per day. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science MBA Product Management Project Management CXO Leadership Data Analytics Healthcare Degree others Operations Management Finance healthcare Others PGDM Technology Public Policy Digital Marketing Data Science MCA Cybersecurity Design Thinking Management Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details "Running at full capacity, the facility is expected to generate up to Rs 550 crore in annual turnover and widen the Group's EBITDA margin by approximately 8-10 percentage points," the company said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In Boumerdes - Watch What Happens Happy in Shape Undo In its first, partial year of operation, the plant should add about Rs 300 crore to EBITDA (earnings before interest, taxes, depreciation and amortisation). At full capacity, it could supply up to 65-70 million litres of ethanol per year to Oil Marketing Companies (OMCs). Live Events "With a Rs 550 crore annual topline opportunity and an 8-10 per cent margin lift, it brings stable, high-quality revenue that strengthens our balance sheet and funds our next phase of growth across premium spirits and new markets," Roshini Sanah Jaiswal, Promoter & Executive Director of Jagatjit Industries, said. Founded in 1944, Jagatjit Industries Limited (JIL) manufactures Indian Made Foreign Liquor (IMFL) and Country Liquor (CL) in the country. The company is listed on the BSE. The company has plants in Punjab along with other manufacturing units in Behror, Rajasthan.
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Business Standard
4 days ago
- Business
- Business Standard
India-UK trade pact: Tariff cut may not impact Scotch whisky retail prices
The India-UK free trade agreement (FTA), under which tariffs on whisky and gin have been halved from 150 per cent to 75 per cent, which will further fall to 40 per cent in a decade's time, will not necessarily impact prices of Scotch whisky and gin for Indian consumers. According to a May 2025 report from the International Wine & Spirit Research (IWSR), blended Scotch grew the strongest of all the large whisky categories in India in 2024, with volumes rising by medium single digits and sales more than doubling since 2020. India is known to be a whisky market, with widespread national sales. However, while the data company's forecasts anticipated an upside from the FTA, it added that its impact should not be overestimated. 'While tariffs have been slashed from 150 per cent to 75 per cent, the impact on shelf prices is closer to 10 per cent and it is not a given that this will be passed on to consumers,' it had stated in the 2025 executive summary. The revised tariffs will apply to both bottled-in-origin (BIO) and bulk imports. Industry executives agree, stating that tariffs make up only up to 15 per cent of the final retail price, and with state taxes and costs for distribution and marketing, prices could be down by a mere 10 per cent. This may not be passed on to consumers, they said on the condition of anonymity. A senior commerce ministry official said that a major portion of whisky imports into India are used in the manufacture of blended whisky, whose production is set to rise due to cheaper raw material. 'We are foreseeing significant strategic and cost advantages from this development. We have estimated our Scotch requirements at over ₹250 crore in 2025-26 (FY26), and this treaty represents a substantial opportunity for value creation,' said Abhishek Khaitan, managing director at Radico Khaitan, one of the largest importers of Scotch whisky. Some liquor players also believe that the FTA will help consumers have access to premium Scotch whisky at reduced prices. 'The UK FTA is a positive move for the Scotch whisky segment, and it will enhance accessibility and affordability for Indian consumers. For import-driven portfolios like ours, this could fast-track category adoption, bring price parity closer to Indian Made Foreign Liquor (IMFL), and enable deeper reinvestment into consumer-building efforts,' said Debashish Shyam, cofounder and director, Ardent Alcobev, which sells Dram Bell blended Scotch whisky. However, the real benefit, Shyam added, will depend on how quickly the duty reductions are implemented, and whether the states align their tax structures accordingly. Spirits made up 51.2 per cent of the total beverage alcohol market in 2024, dominated by whisky. According to the data company, India consumed 258,750 under-9-litre cases of whisky in 2024, which is set to witness a compound annual growth rate (CAGR) of 3.1 per cent from 2024 to 2029. These included 8,509.60 cases of Scotch whisky, the company stated, adding that India is set to become the biggest Scotch market in the world by 2027.
Time of India
4 days ago
- Business
- Time of India
Deal sealed, but Scotch to stay pricey till 2035
This is a representative AI image NEW DELHI: The much-anticipated duty cuts for Scotch and gin is not happening overnight. While import duty will come down from 150% to 75%, it is unlikely to happen until at least the second half of 2035. That's because the agreement will take at least a year to be ratified by the British Parliament and there is a gradual tariff reduction roadmap starting with duties in India dropping to 110% in the first year of implementation. The UK government said customs duty will reduce to 40% over the next decade. What's more, govt has got the UK to agree to a minimum import price which means, whisky, gin or any other drink that costs under $5 in a one litre bottle or $6 in a 750 ml bottle will get the tariff benefit and the MIP will be indexed to inflation. However, industry officials say that despite halving import duty, the actual reduction of consumer prices will not be more than 10%. "The share of customs duty to the overall structure of MRP is hardly 15-20%, depending on the category. The rest comprises state govrnment taxes, and distribution margins. So actual consumer prices will come down by only 8-10%," an official said. The reduction in import duty will be a benefit for manufacturers of Indian Made Foreign Liquor. Around 80% of imported scotch is in bulk form, which is used for bottling in India and for blending by local whisky brands. But the industry cheered the move. Sanjit Padhi, CEO of International Spirits and Wines Association of India (ISWAI), said the agreement paves the way for a more balanced and equitable trade environment, particularly as Indian alcohol exports to the UK have zero import duties. "We laud the Indian and British governments for formalising this historic treaty which will boost bilateral trade and positively impact the accessibility of premium Scotch whisky in India, reigniting growth and increased choice for Indian consumers," Praveen Someshwar, MD and CEO of Diageo India, said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
5 days ago
- Time of India
Liquor worth Rs 1.24 cr hidden behind onion sacks seized near Bagodara
Ahmedabad: The local crime branch (LCB) of Ahmedabad rural police on Wednesday seized Indian Made Foreign Liquor (IMFL) worth Rs 1.04 crore that was concealed behind onion sacks in a container truck near the Bagodara-Tarapur highway. The operation was carried out following a tip-off received by police inspector R N Karmatiya. The container truck, which originated from Silvassa and was en route to Gondal, initially appeared to be carrying a routine consignment of onions. However, a detailed inspection revealed 17,940 sealed bottles of IMFL hidden behind the sacks. Police valued the total seizure — including the truck and liquor — at Rs 1.24 crore. The driver, identified as Mansukh Kodiyatar from Pastardi village in Bhanvad taluka of Devbhumi Dwarka district, was arrested on the spot. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad During interrogation, Kodiyatar informed police that the truck belonged to one Bharat Hun of Dwarka, who had directed him to transport the consignment from Silvassa to Gondal. The vehicle covered nearly 400 km — passing through Valsad, Vapi, Surat, Bharuch, Vasad, and Borsad — without being stopped at any police checkpoint. The LCB has launched a manhunt for Bharat Hun, believed to be the kingpin behind the operation. A police team has been dispatched to Dwarka to trace and apprehend him.
