2024-12-04 14:07:11 :
New Delhi: Medusa Beverages Pvt. The company behind the Medusa beer brand plans to double its sales by fiscal 2026 through capacity expansion in Punjab in the next fiscal.
The company will seek to raise funds $Founder Avneet Singh said that in fiscal 2026, 1.2 billion rupees will be invested through a combination of debt and equity issuance to establish a brewery with an annual capacity of 400,000 hectolitres. Mint.
Medusa started operations in 2017 and has since launched three beers ranging from 4.5% to 5.9% alcohol content. In 2023, the company launched light beer ‘Air’ and started operations in Uttarakhand and existing markets like Delhi, Punjab and Uttar Pradesh.
This month, the company will launch its first Warner Bros. co-branded beer “House of the Dragon” in India, targeting more premium beer drinkers in first-tier cities. House of the Dragon is an American fantasy television series created by George R.R. Martin.
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Currently, the company partners with other beverage manufacturers and uses their facilities to produce beer in northern markets. Most of the current production capacity comes from Uttar Pradesh and Punjab, which are also feeder markets for northern India such as Delhi.
Medusa also plans to expand into new states such as Assam, Andhra Pradesh and Haryana, followed by focusing on expanding operations in the southern parts of the country.
Singh said the company will start operations in Chhattisgarh this year and set up two new breweries to expand production capacity.
“We expect to sell 1.1 million cases this financial year (FY25), with the bulk of the business coming from Delhi. India sells about 350 million cases of beer annually and per capita beer consumption is quite low at about 2 liters per person in comparison. China’s per capita consumption is about 25 liters per year, but we hope that consumption will grow at a compound annual growth rate of 10-12% by 2030 due to the demographic dividend,” said Singh.
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Unseasonal rains affected summer sales last season, but this year, sales have returned to normal despite a slowdown due to the election, he said.
The Indian beer market is dominated by players such as Kingfisher Breweries United, Anheuser-Busch InBev and Carlsberg.
Industry estimates indicate that beer sales in FY24 fell nearly 15% year-on-year to approximately 350 million cases. Despite beer’s global popularity, its consumption in India remains relatively low compared to the country’s huge population, with sales of about 400 million cases in fiscal 2024. He added: “Due to hot weather and long summers, the beer business is becoming a 10-11 month business in most parts of the country, except in colder areas, which is a positive sign for the industry.”
“Our total revenue will touch $180 crore this financial year, higher than $133 crore in FY24. This growth is mainly driven by our ‘Air’ variant,” he added. “India has the lowest median age compared to other developed and developing countries, with nearly 20 million people entering the legal drinking age every year. This factor, along with other countries, will also help drive the growth of the industry. “
India’s alcohol market is mainly driven by distilled spirits, which account for nearly 90% of total alcohol consumption. Within the beer category, however, strong beers account for a large portion of consumption.
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