Liquor-maker Jagatjit Industries plans to launch single malt whisky by March 2025, in a bid to strengthen its malt spirits portfolio. The company aims to achieve revenue of ₹970 crore in FY25, said Roshini Sanah Jaiswal, Promoter and Executive Director at Jagatjit Industries.

Working towards the launch, the company since the last 12 months, has increased malt production from 1.2 lakh  litres a month to 2-3 lakh  litres a month. Even previously, in 2020, it had planned to launch a single malt named Hamira, however, the plan was later shelved due to Covid-19.

“We have now changed the mix to include more malt spirit, we are increasing the production gradually so the bottom lines are not under pressure. The launch of single malt will help achieve better margins, which will reflect in the following year,” Jaiswal told businessline.

The Indian single malt category is actively gaining momentum as most liquor giants- local and international both have forayed into the category, stirring up the competitive landscape. Jaiswal said, “We are not late to the party, the single malt category is being born, it’s not even cracked the surface in India. Our differentiation will come from flavors, casks, and the quality of the whiskey.” It plans to launch in the tentative price range of ₹4000 and above.

For the year ended 2024, Jagatjit Industries’ revenue from operations stood at ₹708.16 crore, a 22 per cent year-on-year rise. However, the performance fell short of the targeted projection of ₹720 crores. According to Jaiswal, going forward, in FY25, the company is aiming to achieve revenue of ₹970 crore, and increasingly focus on premiumization.

“We started the year with a projection of ₹800 crores, after the first quarter, we revised it down to about ₹720 crores. The 3rd and 4th quarters were hard, mainly due to commodity prices. The price of Naku went from ₹23,000 a ton to ₹30,000 a ton. The price of subsequent materials also went from ₹5 to ₹8. These changes had a big impact on us. These are market forces we don’t control, and can’t adjust prices,” Jaiswal explained.