Pernod Ricard sales up 17 per cent; Imperial Blue has 'notable out-performance'

MUMBAI: The Indian unit of Pernod Ricard, the world's second-biggest spirits group, posted a 17 per cent increase in net sales in the year ended June even as the country's overall spirits market struggled to manage 2 per cent growth.

The French firm, which makes Absolut vodka and Chivas Regal scotch, said in an investor presentation on Thursday that local brands in India grew by double digits, with a particularly strong showing by Imperial Blue.

"Blender’s Pride, 100 Pipers had market share gains with a notable out-performance of Imperial Blue," it said.

The company didn't disclose the latest sales figure for the Indian subsidiary. The local unit had registered a 21 per cent growth in revenue to Rs 7,216.4 crore in the year ended March 2013.

Pernod Ricard’s local unit already controls nearly half of the so-called Indian made foreign liquor market in value terms and is among the most profitable businesses for the French distilled beverages firm globally. However, with the world's largest liquor company Diageo now controlling Indian market leader United Spirits, it could face stiffer competition. Pernod Ricard will be looking to get more aggressive on India. It recently passed a resolution to borrow Rs 900 crore to strengthen its presence in the country.