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Piccadily launches Indri Founder’s Reserve single malt whisky, tribute to Kidar Nath Sharma

Piccadily Agro Industries Ltd, the parent company of India’s fastest-growing single malt whisky brand, Indri, has unveiled its latest creation: Indri Founder’s Reserve 11-Year-Old Single Malt. This new offering is dedicated to the group’s founder, Pt. Kidar Nath Sharma, as a tribute to his legacy.

Aged for 11 years in Ex-Bordeaux Red Wine Casks, this offering is a limited-edition release with only 1,100 bottles available worldwide, of which 550 will be for the Indian market. The company said the release is both a collector’s treasure and a connoisseur’s delight. The limited-edition single malt is priced at ₹35,000 in Gurugram.

The oak barrels so used are the ones that were previously used to age red wine from the Bordeaux region of France and are now repurposed for aging whisky. The whisky will have a 50% alcohol by volume (ABV) for India and 58.5% ABV for international markets.

The whisky is kept at its distillery located in Haryana under extreme climate conditions throughout the year, accelerating the whisky’s maturation, creating an opulent, full-bodied expression that exudes complexity and depth unique to the region’s terroir.

“Indri Founder’s Reserve 11-Year-Old single malt is a symbol of India’s ascension in the world of fine single malt whisky. Aged to perfection and crafted with care, this expression embodies the essence of our founder’s dream: to create world-class Indian single malt whisky with soul, structure, and enduring quality,” said Shalini Sharma, Head of Marketing, Piccadily Agro Industries Limited, in a statement.

“The deep amber liquid offers an aromatic bouquet of dark fruits and warm spices that open into a palate of caramelised nuts, and velvety vanilla, concluding with an indulgent finish of oak and wine-influenced sweetness,” the group said in a statement.

The Founder’s Reserve 11-Year-Old single malt whisky has garnered several prestigious global accolades, including the Gold Award at the 2025 World Whisky Awards in the Single Malts 12 Years & Under category, a spot among the top 15 whiskies in the world at the International Whisky Competition, and a Gold Medal at the New York World Wine & Spirits Competition, among other notable honours.

Carlsberg India profits up by 60%

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Carlsberg India has reported a jump of 60.5% in its profits at ₹323.1 crore in FY’24, according to RoC filing by the company. Carlsberg India total revenue was up 15.2% at ₹8,044.9 crore for the financial year ended March 31, 2024.

The company said, “During the financial year 2023-24, profit amounting to ₹323 crore under the standalone financial statement has been carried forward to ‘Reserve and Surplus’ including other comprehensive income in the balance sheet.”

Carlsberg India Pvt Ltd had reported a total profit of ₹201.3 crore a year before in FY’23, and its revenue from operations was at ₹6,937 crore on a standalone basis. Its “Excise duty expense” in FY’24 was at ₹4,877.8 crore, up 13.4%. This was at ₹4,301.6 crore a year before in FY’23.

“Cash and bank balances increased from ₹9,304 million to ₹11,165 million with strong business performance, better trade working capital and lower capital investment,” it said. Advertising promotional expenses of Carlsberg India were at ₹96.5 crore in FY’24 and total expenses stood at ₹7,628.3 crore, up 13.4%.

The market share however declined to 13.3%, from 14.9% in the fiscal year 2023-24, but Carlsberg India continues to hold the number three position in the Indian beer market. Carlsberg India is the subsidiary of Singapore-based South Asian Breweries Pte Ltd, owned by Danish brewing major Carlsberg.

Delhi Earned ₹5,000 Crore from Tax On Liquor

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The newly elected Delhi government run by the Bharatiya Janata Party (BJP) has said that due to the implementation of the new liquor policy under the AAP from November 2021 to August 2022, only private shops were allowed to sell alcohol. It said that over ₹5,000 crore was collected from taxes on liquor in the current financial year.

Responding to a question asked by BJP MLA Abhay Verma in the Delhi Assembly, the government said it earned revenue of ₹5,068.92 crore from excise duty and VAT (value added tax) on the sale of liquor in the financial year 2024-25, till February.

The question comes at a time when the BJP has continued to attack the AAP over the alleged liquor policy scam. Former chief minister Arvind Kejriwal and his deputy Manish Sisodia were among the AAP leaders who were jailed in connection with the alleged scam.

The new Rekha Gupta-led BJP government reported that ₹5,164 crore was collected in taxes on alcohol in 2023-24, ₹5,547 crore in 2022-23 and ₹5,487 crore in 2021-22. The government stated that due to the implementation of the new liquor policy in Delhi under the AAP from November 2021 to August 2022, only private shops were allowed to sell alcohol. However, when the old liquor policy was reimplemented in September 2022, government liquor stores were permitted to operate.

In 2023-24, 21.27 crore litres of alcohol were sold in Delhi, which translates to 5.82 lakh litres per day, while the figure for 2022-23 was 25.84 crore litres.

Shah Rukh Khan’s D’YAVOL Inception Wins Gold at Berlin

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D’YAVOL Inception, the flagship blended malt Scotch whisky from D’YAVOL Luxury Spirits, has been awarded Gold at the prestigious Berlin International Spirits Competition (BISC) 2025. The Berlin International Spirits Competition stands out as the only European spirits competition judged exclusively by trade buyers, including sommeliers, beverage directors, and retail experts from across the continent. Spirits, RTDs, and non-alcoholic spirits are evaluated based on category and actual price, ensuring a real-world assessment of quality and value.

Shah Rukh Khan, Co-Founder, D’YAVOL, says, “Consistent recognitions like these fuels our drive to keep pushing boundaries and setting new standards. It’s always rewarding to see our efforts acknowledged on a global stage.”

Inception is a blend of eight rare single malts, selected from Scotland’s whisky regions — Speyside, Highland, Lowland, and the Islands. Aged up to 12 years, Inception undergoes an extended maturation in first-fill Tawny Port and rare Madeira casks, adding layers of depth and richness.

Launched in 2023, this non-chill filtered whisky preserves its full depth of flavour, mouthfeel, and character. Its complex profile unfolds with rich notes of dark chocolate, dried fruit, and oak spice, complemented by subtle hints of smoked wood, ripe plums, spiced vanilla, and a gentle smokiness.

Bunty Singh, Co-Founder, D’YAVOL, says, “Winning multiple international awards including ‘Best Overall Scotch’ at the New York World Spirits Competition and now a gold medal at the Berlin International Spirits Competition 2025 is an incredible honour. These back-to-back wins reaffirm our commitment to crafting spirits that stand out on the world stage.”

Alongside Inception’s Gold medal at BISC 2025, the brand’s Single Estate Vodka was also awarded a Silver Medal.

PVR Inox Seeks License to Serve Alcohol in Gurugram and Bengaluru theatres

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A media report has stated that PVR Inox, dominant player in the entertainment business, has sought licenses to serve alcohol in theatre lounges in select markets such as Gurugram and Bengaluru, to attract audiences back to theatres. With the OTT platform making people watch movies at home, the footfalls at theatres have seen a downward swing. Besides, many big star movies have failed in the recent past, affecting the theatre business.

The proposal has resulted in a public debate with many raising concerns of allowing liquor in theatre lounges, ranging from discomfort to other movie goers to unruly behaviour to women’s safety and even how liquor can be allowed where kids below the legal drinking age maybe hanging out. There is as such a growing dissent among movie goers that the theatre experience is an expensive affair with prices of ticket and food and beverages is extremely high.

PVR Inox’s explanation is that it would enhance the customer experience in the lounges. It is trying its best to shore up revenues, even by re-releasing classics and major hits of the past, but that has not really enthused the audience to coming back to theatres.

It must be mentioned that in the recent Karnataka Budget, the Chief Minister, Siddaramaiah had said that the cost of the tickets in all theatres of the state, including multiplexes here, will be capped at ₹200. If this happens, then the multiplexes which have invested heavily would be further affected.

PVR Inox’s stock has dropped 60% from its peak due to underwhelming box office performance and market corrections.

GIFT City Earns nearly 1 cr from liquor sales

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The Gujarat government has earned ₹94.19 lakh in revenue from the sale of liquor to employees working at Gandhinagar-based Gujarat International Finance Tec-City (GIFT City) where alcohol consumption has been permitted since December 30, 2023.

The Chief Minister Bhupendra Patel, who also holds the Prohibition and Excise portfolio, told the Gujarat Assembly in a written reply to a question by Congress MLA Amit Chavda that as of January 31, 2025 people have consumed 3,324 bulk litre spirit, 470 bulk litre wine, and 19,915 bulk litre beer at the fintech hub. Gujarat is a “dry” state where manufacture, sale, and consumption of liquor are prohibited, but the government made an exemption for GIFT City in 2023.

India-EU FTA Talks on May 12; Will there be trade-off between textiles and alcobev?

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The next round of free trade agreement (FTA) talks between India and the European Union is slated from May 12 to 16 and both sides are pushing for early resolution of FTA with the latter seeking reduced tariffs on key exports such as whisky, wine, and automobiles, while India is wanting tariff drop on textiles.

The EU is negotiating on tariffs on cars, whisky and wine to be brought down from 150% to 100%. Away from the EU, Australia was able to negotiate a deal with India for reduced duties for premium wines. However, European exporters opine that India remains one of the toughest wine markets due to state-level excise duties that further raise costs.

India, on the other hand, is pushing for reduced tariff on textile exports. Presently, India is hit by an additional 10% tariff on textile exports, in the absence of an FTA. Bangladesh and Vietnam, strong textile markets, are benefitting, as the former concluded in 2001 an EU-Bangladesh Cooperation Agreement, while Vietnam and EU signed the FTA in 2020.

After an eight-year hiatus, talks between India and the EU resumed in June 2022. The bilateral trade between the two surpassed US$200 billion in 2023. India exported US$75.18 billion in goods and US$31.13 billion in services to the EU, while imports from the EU stood at US$63.44 billion in goods and US$31.35 billion in services.

The Additional Secretary in the Department of Commerce L Satya Srinivas said that the tenth round of talks focussed on areas like market access offers in goods, services, investment. He said, “Both sides have agreed to accelerate efforts to advance the negotiations.”

Not Out: RTD to Hit Pan-India Market Soon

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In a country where cricket is religion, Not Out, a ready-to-drink (RTD) alcoholic beverage is soon going to hit the Indian market, after its inroads in Delhi, Haryana and Uttar Pradesh. Launched by Bored Beverages, Not Out is a 15% ABV beverage with tasting notes of citrus and tart. It is gluten and glycerin free.

Launched by Bored Beverages, Not Out taps into India’s love for bold flavour, epic moments, and the unmatched thrill of staying always in the game. Founded by Anant and Vinayak, two friends who were tired of safe sips and uninspired options, Not Out was born as a rebellion against the bland. The duo envisioned something stronger, edgier, and unmistakably Indian in its attitude.

“We wanted a drink that tastes like the last over in a tight chase – sharp, exciting, and unforgettable,” says Anant.

In India, cricket is not a game you just watch, it is something you feel, celebrate, and live together. From gullies to stadiums, it is a unifier, a conversation starter, and a shared high. Not Out aims to channel that collective energy. It is for the massive, cricket-loving India that knows the joy of a full toss and the magic of staying in play.

Currently making noise across Delhi, Haryana, and Uttar Pradesh, Not Out is gaining cult status among young adults who want more than just a buzz. With expansion plans in the works, this is just the start of a nationwide innings, the company said in a release.

Ajay Devgn and Cartel Bros Debut ‘The GlenJourneys’

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21-Year-Old Single Malt Scotch
Only 600 bottles released
Limited Cask Series to be launched in India in August

Actor and entrepreneur Ajay Devgn has partnered with luxury spirits house Cartel Bros to launch ‘The GlenJourneys Pioneer Edition’, a premium 21-year-old Highland single malt scotch whisky. This exclusive release marks a significant milestone in India’s luxury spirits’ landscape. The Pioneer Edition boasts a robust 48% ABV, presented in an elegantly crafted oak-finished cask with intricate inlay detailing.

This limited release will be available through select travel retail channels worldwide, catering to discerning connoisseurs and collectors. While travel retail prices for the 21-year-old single malt are forthcoming, The GlenJourneys will also offer three non-age statement expressions: Rum Cask, Bourbon Cask, and Sherry Cask. These variants will be priced between ₹7,500 and ₹9,000. This launch underscores Cartel Bros’ commitment to delivering exceptional luxury spirits experiences, further elevating India’s premium whisky segment.

On April 10, Mumbai witnessed the exclusive launch announcement of The GlenJourneys. The limited Pioneer’s Edition provides an exclusive chance for a select few to own a piece of whisky history before it arrives in India.

India Launch – The Cask Series to Follow

While the flagship 21-year-old single malt debuts globally, Indian whisky lovers can look forward to the brand’s Cask Series, scheduled for release in August 2025. This special collection of cask-aged single malts will highlight the unique finishes and expressions designed specifically for the Indian market. Further details on the cask types, its expressions, tasting notes, and limited edition bottlings are expected to be revealed by the end of August.

“The GlenJourneys is a culmination of passion and artistry, a tribute to the untamed spirit of the Highlands,” said Mokksh Sani, Founder of Living Liquidz, Mansionz, and Co-founder of Cartel Bros. “We’ve poured our hearts into creating a collection that transcends the ordinary, offering a truly exceptional tasting experience.”

From the first sip to the lingering finish, each moment with The GlenJourneys is an expedition of flavour. Driven by the expertise of Cartel Bros, the makers of The Glenwalk Scotch Whisky and the leadership of co-founders Mokksh Sani, Jitin Merani, Rohan Nihalani, Manish Sani, and Chief Business Officer Neeraj Singh. The GlenJourneys, crafted in the Scottish Highlands, is a 21-year-old single malt aged exclusively in hand-selected American oak casks. It opens with velvety vanilla sweetness and ripe fruit, leading into a palate that is silky, layered, and luxuriously mellow. The journey concludes with a long, lingering finish, where subtle whispers of smoke remind you of the untamed wilderness from which it was born.

“Bringing The Glen Journeys 21‑year‑old Highland single malt to life has been a journey of passion and precision,” said Ajay Devgn. “Every detail of the brand reflects our commitment to craftsmanship and excellence. With this collaboration with Cartel Bros, we offer an exceptional whisky to connoisseurs worldwide, starting with the introduction of the 21-year-old single malt whisky in travel retail channels across the world.”

Cartel Bros is force to reckon with in the world of fine spirits, pushing boundaries, redefining luxury, and elevating whisky culture. With the success of The Glenwalk, they have established themselves and have activated operations in over 50 cities across 12 Indian states, with a growing presence in the Middle East, Australia, New Zealand and Canada, with rapid expansion plans in other international regions soon.

92 Liquor Firms Eye Telangana Market Boom

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Telangana’s alcohol market is set for expansion as 92 liquor companies have applied to launch 604 new brands in the state. The applications were submitted to the Telangana Beverages Corporation Limited (TGBCL), which had issued a call on February 23 inviting both domestic and international suppliers to introduce new variants of Indian Made Foreign Liquor (IMFL) and beer.

Initially, the deadline for submissions was March 15, but it was extended to April 2 by prohibition and excise commissioner C. Hari Kiran, after several companies requested more time to meet updated documentation requirements under the state’s revised liquor policy.

As per reports a total of 604 proposed brands have applied, of which 331 are IMFL variants while 273 are foreign liquor brands. Notably, 47 companies applying for the first time in Telangana accounted for 386 of these applications. The remaining 218 brand proposals came from 45 existing suppliers already operating in the state.

Excise department officials confirmed that every application will undergo detailed scrutiny to ensure compliance with the state government’s updated liquor guidelines. Only those meeting all regulatory norms will receive final approval.

The large number of applications reflects the growing demand and competitive interest in Telangana’s liquor sector. With TGBCL controlling distribution, the State aims to expand the variety of alcoholic beverages available to consumers while maintaining regulatory oversight.