Mumbai, 23 January 2017 (ABN Newswire) - Pincon Spirit Limited (PSL) (
BOM:538771) (NSE:PINCON), one of the youngest and fastest growing companies in India with a business presence in Indian Made Foreign Liquor (IMFL), Indian Made Indian Liquor (IMIL) and Fast-Moving Consumer Goods (FMCG), announced revenue grew over 22X in last seven years from Rs. 43 Cr in FY09 to Rs. 988 Cr in FY16.
Pincon's Q2 and H1FY17 performance overview showed revenue increase by 34.6% year-on-year (y-o-y) to Rs. 3,088.97 million versus Rs. 2,294.95 million in Q2FY16, with IMIL and IMFL segment at the forefront of robust financial performance.
Higher volume across all segments led to the strong performance - While the distribution business benefited from market trends, PSL's branded portfolio delivered robust volume growth.
Commenting on the Company's Q2 and H1FY17 results, Mr. Monoranjan Roy, Chairman & Managing Director, Pincon Spirit Limited, said:
"We are delighted to report robust financial results for the quarter under review. In IMIL our strategy has been to expand the presence of recently acquired brands to all districts of West Bengal thereby unleashing their true potential. There is an enormous, untapped and unorganized market for entry level liquor which will continue to grow and we will further strengthen our leading market position.
In the IMFL segment, we take pride in positioning ourselves as a player delivering significant value to customers relative to competition and inspite of a recent price revision; we continue to deliver superior products to customers at attractive price points providing significant value proposition. In addition our emphasis on improving branding and packaging is delivering positive results. We will further augment our distribution network in West Bengal and continue to aggressively enhance our presence in Karnataka as well as states of Jharkhand, and Odisha.
In the FMCG segment, our edible oil brands have witnessed healthy volume performance. We have successfully leveraged our liquor distribution expertise across our range of edible oils products.
We are glad to recently announce the acquisition of Bacchus Enterprises Ltd. an IMIL and IMFL player based in Ludhiana, Punjab. This will bring on board an established infrastructure and credible brands in key markets of Punjab, Haryana and NCR. We continue to evaluate such attractive propositions which will aid our strategic objective of establishing a pan India presence.
The investments that we undertook have begun to bear fruit. We are confident that our sustainable integrated business model and planned growth initiatives will help us maintain the strong momentum."
Background
Transformed from a wholesale distributor of traded IMFL brands to a branded IMFL and IMIL player, Pincon also refines, bottles and distributes edible oils in the FMCG segment.
Business Model
Robust business model with presence across Blending, Bottling, Branding, Wholesale Distribution and Retail outlets.
Dominant IMIL player
Transformed to one of the largest IMIL players in the country and a leading player in West Bengal.
Growing Presence
Along with West Bengal, fast growing footprint in Karnataka, Assam, Arunachal Pradesh, Tripura, Odisha, Jharkhand & Uttarkhand.
Recent Highlights
IMFL Segment
- Recently undertook 25% average price revision in its Entry Level portfolio "Pincon Kings Coin Supreme" in Rum, Whisky and Vodka segments
- Plan to launch a regular segment prestige whiskey under the brand "Bankers Choice" - to further enhance portfolio offerings
IMIL Segment
- Leading IMIL player in West Bengal -production capacity of 1.2 crore bottles per month post recent acquisitions
- Recently increased the price of its popular brands - Pincon Bangla No. 1, Pincon Super Bangla No. 1, Pincon Bangla No. 1 Gold, Pincon Bangla No. 1 Orange - post Approval from the WB Excise Dept
Acquisition of Bacchus Enterprises Limited
- Pincon signed an MOU for acquiring Bacchus Enterprises Ltd., an IMIL and IMFL player based in Ludhiana, Punjab to expand presence and enter new geographies
- Additional production capacity of 20 lakh IMIL bottles and 100,000 IMFL cases per month as the Company continues to add market share in a regulated industry
To view the latest Company and Investor Presentation including investment highlights, key milestones and financial overview, please visit:
http://abnnewswire.net/lnk/U174L31R
About Pincon Spirit Ltd
Pincon Spirit Ltd (PSL) (BOM:538771) (NSE:PINCON) is one of the fastest growing Companies in India. The Company has a growing presence in multiple states across India and is a leading IMFL (India Made Foreign Liquor) and IMIL (India Made Indian Liquor) player. In IMFL, PSL is the only player participating in the entire chain from production > wholesale > retail. PSL has 11 illustrious brands in this segment. In the IMIL segment, the Company is engaged in blending, bottling and wholesale distribution of its own product, PINCON Bangla No. 1, Bengal Tiger and Uddan in West Bengal. Pincon is also a wholesale distributor of various other established brands having tie-ups with over 9,800 licensees across India. The Company manages and controls 17 retail IMFL outlets in West Bengal. In the Company’s FMCG segment, it sells Edible Oil (Mustard Oil, Soya Oil and Rice Bran Oil) under Pincon and King’s Coin brand.
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