DeVANS Modern Breweries plans to expand its portfolio with the launch of multiple products in different spirits categories by April 2024. With the new launches, it aims to achieve net turnover of ₹700 crore in the next financial year, said chairman and managing director Prem Dewan.
The company will be launching two new and matured impressions of its GianChand Single Malt Whiskey, Craft Gin, and Dark Beer with about 6 per cent alcohol content, in the premium range. It will initially launch the products in six to seven States, where the company already has a presence.
“We have made our craft gin samples in-house and have received good feedback from experts, and we will be ready for the market soon. With the launch of the beer, we want to introduce a good-quality dark beer as commercial dark beers are a rarity in India,” Dewan told businessline.
DeVANS will also be making its single malt whiskey available in more markets. It will be available in Uttar Pradesh and Goa by the end of October, and the company is in the process of getting regulatory clearance to launch it in Jharkhand, Arunachal Pradesh, and Assam. Currently, the product is present in Ladakh, J&K, Uttrakhand, Delhi and Haryana.
The company currently has a production capacity of 1,56,000-kilo litres. It is further expanding production tie-ups primarily in the beer segment, by forging ties with new breweries. It has recently made tie-ups in Uttar Pradesh, and in a bid to create a strong foothold in south, it has made tie ups in Chennai. The company is also exploring opportunities to tie up in the Telangana and Assam regions, according to Dewan.
With the new launches ahead and new production tie ups, Dewan said the company aims to achieve a net turnover of over ₹700 crore during the next financial year. It aims to close the current year at about ₹500 crore, up from ₹350 crore achieved last year.
In terms of growth in its beer portfolio, Dewan said that post-pandemic, business grew 80 per cent in 2021-22, and further registered 47 per cent growth in 2022-23, with a sales volume of 60,000 -kilo litres