Triveni Engineering & Industries Ltd. ('Triveni'), one of the largest integrated sugar manufacturers & engineered-to-order turbo gearbox manufacturers in the country and a leading player in water and wastewater management business, launched premium and super premium whisky brands: Matsya Triple Reserve Blended Whisky and The Crafters Stamp Rare Artisan Blended Whisky, respectively in Uttar Pradesh to enter into the Indian-Made Foreign Liquor (IMFL) market.
Priced at INR 690 for a 750 ml bottle, Matsya Triple Reserve Blended Whisky is tailored for Gen Z, while The Crafters Stamp Rare Artisan Blended Whisky, priced at INR 950 for a 750 ml bottle, is aimed at Millennials. Both The Crafters Stamp and Matsya were recently honored with The Spiritz Selection "The Grand Gold" and "Silver" awards respectively in the best product category for the Whisky Segment under INR 501 to INR 1000. The current annual production capacities for these brands are 1,35,000 liters and 4,20,000 litres, respectively. Both whisky brands have been launched across 25 districts of Uttar Pradesh in July 2024, catering to the super-premium and premium segments of the market. Triveni plans a roll out across the state by FY 26, covering over 5000 retail outlets. Over the years, the Indian alcohol market has seen premiumization and a notable trend towards high-quality artisanal whisky. Triveni is introducing and targeting these evolving tastes by introducing high-quality products at attractive price points, promising an unparalleled experience.
Commenting on the launch, Tarun Sawhney, Vice Chairman and Managing Director of Triveni Engineering & Industries Ltd., said, "The launch of Matsya and The Crafters Stamp marks a significant step towards Triveni's expansion into the fast-growing IMFL market. These brands are crafted to cater to the evolving tastes of India's premium whisky consumers, underscoring our commitment to quality, innovation, and standing out in the market. With the premium whisky segment growing at a five-year CAGR of 5% and super premium whisky at a CAGR of 9%, we are well positioned to tap into this growth in Uttar Pradesh, driven by a young and discerning demographic. As per industry estimates, in terms of volume, Uttar Pradesh is the largest state for Super Premium whisky while it ranks 3rd with respect to Premium whisky segment. To tap this market, we are also establishing a new bottling plant at our Muzaffarnagar facility for high-quality IMFL products. This move aligns well with our vision to broaden our footprint in the alcohol industry and growth given our long history in the alcohol business."
Sameer Sinha, Chief Executive Officer (Sugar Business), Triveni Engineering & Industries Ltd., said, "Our entry into the IMFL segment represents a strategic forward integration & addition to Trivenl's portfolio. With the premium whisky market growing rapidly, this move allows us to tap into new opportunities and expand our reach. By leveraging our extensive experience in high quality manufacturing and distribution of FMCG products, we are confident that the launch of Matsya and The Crafters Stamp will strengthen our position in the IMFL space, aligning with our vision of growth."
These new offerings underscore Triveni's commitment to growth and excellence, being always on the lookout for strategic opportunities which have a fit with our existing product portfolio and strengths.
Shares of Triveni Engineering & Industries Limited was last trading in BSE at Rs. 393.30 as compared to the previous close of Rs. 410.75. The total number of shares traded during the day was 69800 in over 2690 trades.
The stock hit an intraday high of Rs. 410.00 and intraday low of 388.50. The net turnover during the day was Rs. 27785800.00. |
