Alcobrew Distilleries India IPO

About Alcobrew Distilleries India

Alcobrew Distilleries India Limited is an Indian alcoholic beverage company established in 2002. It was incorporated as a private limited company and converted into a public limited company in 2022. The company is promoted by Romesh Pandita, Veena Pandita, and the Romesh Pandita Family Trust. Alcobrew operates in the Indian Made Foreign Liquor (IMFL) segment, with a portfolio spanning whisky, vodka, gin, rum, and brandy. Its operations include distillation, bottling, maturation, and marketing of alcoholic beverages. Manufacturing facilities are located in Punjab and Himachal Pradesh, supporting in-house production as well as contract bottling. The company focuses primarily on the prestige and above segments and has a presence across multiple Indian states and union territories. Its business model combines brand building, manufacturing efficiency, and a distribution-led approach aligned with state-specific excise frameworks. Key strengths include a diversified product portfolio, established brands, integrated manufacturing capabilities, and experienced promoter-led management with over two decades of industry presence

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Financials of Alcobrew Distilleries India

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Utilisation of proceeds

Purpose	INR crores (%)
Repayment/prepayment of borrowings	140 (54.23%)
Visitor centre & maturation hall (Solan, HP)	28.91 (11.19%)
Market expenses for new product launches	24.78 (9.60%)
General corporate purposes	64.57 (25%)

Strengths

• Established IMFL player with over 20 years of operating history.
  
• Diversified portfolio across whisky, vodka, gin, rum, and brandy.
  
• Focus on prestige and above segments with premiumisation tailwinds.
  
• Integrated distillation and bottling facilities in key northern states.
  
• Experienced promoter-led management with strong industry knowledge.

Risks

• High dependence on whisky sales makes revenue sensitive to demand shifts.
  
• Alcohol business is highly regulated with complex state-wise excise rules.
  
• Revenue concentration among a limited number of key customers.
  
• Operations are largely concentrated in northern India, increasing regional risk.
  
• Exposure to raw material price volatility and supply disruptions.