The Hindu Business Line : Shaw Wallace aims to triple profit in 3 years

During the financial year 2003-04, while the revenues of the liquor business increased by more than 20 per cent to Rs 1,014 crore from Rs 840 crore in the previous year, the net profit has jumped 166 per cent to Rs 46.18 crore from Rs 17.62 crore, the company has said.

In a communication to its executives recently, Ms V.M. Chhabria, Chairperson, Shaw Wallace, outlined a vision statement that entails emerging as India's most profitable liquor company with double revenues and triple profits in three years.

"We believe Shaw Wallace has intrinsic strength to emerge the most profitable liquor company in three years. In consultation with McKinsey, we are giving shape to the new strategy which hinges on three elements of innovation, efficient execution and empowerment of executives," the statement quoted Ms Chhabria.

Shaw Wallace has also planned a series of workshops under the title `Vision 3x3' cascade workshops across the country. During these workshops, in the next three months, every executive shall meet with a top team representative to understand issues like clarity of direction, reward system and procedure for faster decisions. The focus areas of new dispensation include strengthening brand equity of existing bestsellers, creating best-in-class time to market strategy and achieving lowest-cost manufacturing and purchasing arrangement.

Shaw Wallace's leading brands have contributed significantly in achieving unprecedented sales volumes and boosting revenues significantly. According to the release, Royal Challenge became India's first millionaire premium whisky brand despite tough competition from domestic and multinational companies. Royal Challenge is Shaw Wallace's sixth brand to enter the hall of fame as a millionaire brand.