Financial Daily from THE HINDU group of publications
Wednesday, Nov 12, 2003
Financial Daily from THE HINDU group of publications Wednesday, Nov 12, 2003 |
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Corporate
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Outlook Millennium Alcobev eyes 33 pc rise in beer sales Boby Kurian
Bangalore , Nov. 11 MILLENNIUM Alcobev Ltd, a three-way joint venture between Scottish & Newcastle, United Breweries group and Mr Ravi Jain, is expected to post 33 per cent rise in beer sales in the current financial year. The company is likely to close the year with sales of at least eight million cases up from six million cases in the previous year, according to the Managing Director, Mr Ravi Jain. Millennium's flagship strong beer, Zingaro, is poised to emerge with over three million cases, while another key lager brand, Sandpiper, would sell nearly two million cases. "Zingaro is showing good growth in its strongest turf, Maharashtra. Sandpiper is coming up nicely in Kerala and Bullet remains buoyant in Rajasthan. Kalyani Black Label Strong has started doing exceedingly well in the entire east," Mr Jain said, explaining the growth picture of the company. The beer market, after two successive years of growth, has swung negative this year on account of extended monsoon and a host of regional factors impacting some key States. It is estimated that the year might end with three to four per cent drop in sales or at best remain flat. In fact, during the year sales fell by almost 50 per cent in Haryana where the company's two brands, Sandpiper and Turbo, commanded significant market share. The domestic beer sale during last year was pegged at around 80 million cases. Millennium Alcobev has five breweries in Haryana, Maharashtra, Andhra Pradesh, Tamil Nadu and Kerala with cumulative brewing capacity of over 15 million cases annually. The company had recently gone in for capacity expansion in Haryana and Andhra Pradesh and is currently in the midst of an Rs 27-crore quality upgradation exercise across its plants. The company, which is a 40:40:20 joint venture between Scottish & Newcastle, United Breweries group and Mr Ravi Jain, plans to open two new greenfield breweries and would consider acquisitions at right price. It commenced operations in the year 2000 and has since then effected a string of acquisitions including Inertia Industries, Empee Breweries and GMR Vasavi brewery in Andhra Pradesh.
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