Just to give an idea on growth rates… Radico has done 60% and 110% volume growth in FY24 & FY23 respectively in its lux segment (Rampur whiskey + Jaisalmer Gin). Rampur whiskey is a direct competitor of Indri.
You can draw your own conclusions on revenue & margin from Indri assuming 150k / 250k cases in FY25 and FY26 respectively. Add to that Camikara rum that’s going to show volumes in FY26 once the next production run is ready to be bottled.
Don’t forget the 50 lac cases worth of Malta they sold in FY23 and prolly similar in FY24. Whiskey wouldn’t be substantial portion.
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