Pincon Spirits Limited Announce Q2 Results

Q2 FY17 Results TotalRevenue at Rs. 3,088.97million,up by34.6% y-o-y EBITDA at Rs. 212.52million, increased by66.1% y-o-y PAT higher by 62.0% y-o-yto Rs. 94.42million

New Delhi, Delhi, November 15, 2016 /India PRwire/ -- Pincon Spirit Limited (PSL), one of the youngest and fastest growing companies in India with a business presence in IMFL, IMIL and FMCG, announced its financial results forthe quarter and first half endedSeptember 30, 2016.

Particulars ( Rs. mn)

Q2FY17

Q2FY16

Shift %

H1FY17

H1FY16

Shift %

Total Revenue

3,088.97

2,294.95

34.6%

6,181.76

4603.95

34.3%

EBITDA

212.52

127.92

66.1%

419.01

250.78

67.1%

EBITDA Margin %

6.9%

5.6%

131 bps

6.8%

5.4%

133 bps

PBT

143.95

87.32

64.8%

281.89

173.24

62.7%

PAT

94.42

58.29

62.0%

185.68

115.01

61.4%

Pincon Spirit Ltd. (PSL) is one of the fastest growing Companies in India. The Company has a growing presence in multiple states across India and is a leading IMFL (India Made Foreign Liquor) and IMIL (India Made Indian Liquor) player. In IMFL, PSL is the only player participating in the entire chain from production > wholesale > retail. PSL has 11 illustrious brands in this segment. In the IMIL segment, the Company is engaged in blending, bottling and wholesale distribution of its own product, PINCON Bangla No. 1, Bengal Tiger and Uddan in West Bengal. Pincon is also a wholesale distributor of various other established brands having tie-ups with over 9,800 licensees across India. The Company manages and controls 33 retail IMFL outlets in West Bengal. In the Company's FMCG segment, it sells Edible Oil (Mustard Oil, Soya Oil, and Rice Brand Oil) under Pincon and King's Coin brand.

Key developments

Acquisition of Bacchus Enterprises Limited

q PSL signed a memorandum of understanding for acquiring Bacchus Enterprises Ltd.IMIL and IMFLplayer based in Ludhiana, Punjab

ü Gives PSL additional production capacity of 20 lakh IMIL bottlesand 100,000 IMFL cases per month as the company continues to add market share in a regulated industry.

IMIL Segment

q PSLis the leading IMIL player in West Bengal - production capacity of 1.2 crore bottles per month post recent acquisitions.

ü Key brands - Pincon Bangla No. 1, Uddan and Bengal Tiger continue to show promising growth on the back of buoyant customer acceptance.

ü Based on directives of the Excise Department, an upward revision of prices in the IMIL segment will be undertaken w.e.f. October, 2016

IMFL Segment

q In IMFL division the focus is to enhance sales of PSL's branded portfolio

Plan to launch a regular segment prestige whiskey under the brand "bankers Choice" - this will further enhance PSL's portfolio of offerings

Commenting on the results, Mr. Monoranjan Roy, Chairman & Managing Director, Pincon Spirit Limited, said:

"We are delighted to report robust financial results for the quarter under review. In IMIL our strategy has been to expand the presenceof recently acquired brandsto all districts of West Bengal thereby unleashing their true potential. There is anenormous, untapped and unorganizedmarket for entry level liquorwhich will continue to grow and we will further strengthen our leading market position.

In the IMFL segment,we take pride in positioning ourselves as a player delivering significant value to customers relative to competitionandinspite of a recent price revision;we continue to deliver superior products to customers at attractive price pointsproviding significant value proposition. In addition our emphasis on improving branding and packaging is delivering positive results. We will furtheraugment our distribution network in West Bengal and continue to aggressively enhance our presence in Karnatakaas well as states of Jharkhand, and Odisha.

In the FMCG segment, our edible oil brands have witnessed healthy volume performance. We have successfully leveraged our liquor distribution expertise across our range of edible oils products.

We are glad to recently announce the acquisition of Bacchus Enterprises Ltd. an IMIL and IMFL player based in Ludhiana, Punjab. This will bring on board an established infrastructure and credible brands in key markets of Punjab, Haryana and NCR. We continue to evaluate such attractive propositions which will aid our strategic objective of establishing a pan India presence.

The investments that we undertook have begun to bear fruit. We are confident that our sustainable integrated business model and planned growth initiatives will help us maintain the strong momentum."

Notes to Editor

Pincon Spirit Ltd. (PSL) is one of the fastest growing Companies in India. The Company has a growing presence in multiple states across India and is a leading IMFL (India Made Foreign Liquor) and IMIL (India Made Indian Liquor) player. In IMFL, PSL is the only player participating in the entire chain from production > wholesale > retail. PSL has 11 illustrious brands in this segment. In the IMIL segment, the Company is engaged in blending, bottling and wholesale distribution of its own product, PINCON Bangla No. 1, Bengal Tiger and Uddan in West Bengal. Pincon is also a wholesale distributor of various other established brands having tie-ups with over 9,800 licensees across India. The Company manages and controls 33 retail IMFL outlets in West Bengal. In the Company's FMCG segment, it sells Edible Oil (Mustard Oil, Soya Oil, and Rice Brand Oil) under Pincon and King's Coin brand.

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