NEWS
PERNOD RICARD INDIA REPORTED 7% GROWTH
By Staff Reporter
7-9-2026
Source: Pernod Ricard India
French drinks giant Pernod Ricard reported robust 7 percent organic sales growth for its Indian business in the fiscal year ended 30 June 2026, firmly establishing India as the group’s second largest market worldwide and a rare bright spot against downturns in the United States and China.
Excluding the Imperial Blue whisky business divested late last year, organic sales advanced 9 percent. The India unit now contributes 13 percent of the group’s total net sales, outpacing China after several years of volatile performance in the Chinese market. By volume, India remains Pernod Ricard’s biggest market globally.
Growth came from dual momentum across home grown flagship whiskies and imported premium international brands.
Local icons Royal Stag and Blenders Pride maintained steady sales, while Jameson, Ballantine’s and Chivas Regal delivered double digit gains.
Jameson has secured its rank as India’s top selling imported premium spirit, and India has become the world’s second largest market by volume for the Irish whiskey label.
Vodka also emerged as one of the fastest expanding categories, capturing market share from traditional brown spirits among younger generation urban drinkers.
Alexandre Ricard, Chairman and Chief Executive Officer of Pernod Ricard, highlighted two major catalysts for further expansion: the recently implemented India‑United Kingdom free trade agreement and a prospective EU‑India trade pact, both expected to lower import duty barriers for premium spirit imports into India.
The group is also pushing ahead with its large scale malt whisky distillery project in Maharashtra, billed as Asia’s largest malt making facility, to deepen local production capacity.
Nevertheless, the market carries notable risks. Pernod Ricard continues navigating multi‑front regulatory hurdles, including a long running USD314 million customs tax dispute that may balloon above USD600 million if penalties are applied, an ongoing antitrust probe, and lingering licence related obstacles in Delhi.
The company withdrew its high court petition and switched to administrative appeal channels to resolve the tax claim.
Management confirmed that internal board level discussions over a potential initial public offering of Pernod Ricard India are ongoing, though no definitive timeline or deal structure has been finalised.
Executives stressed that an IPO would be evaluated as one strategic option rather than an immediate action plan.
(the writer can be contacted at: info@thewinechronicle.com)
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