Pernod Ricard India Sales Rise 7%, IPO Talks Continue
By ThePip Desk
Pernod Ricard India achieves 7% sales growth in FY26, becoming its second-largest market globally. Company confirms active IPO discussions and strategic flexibility measures.
Pernod Ricard India reported a 7% increase in sales for fiscal year 2026. This growth establishes India as the company’s second-largest market globally, contrasting with a 3.9% decline in global sales.
Key Financials
- India sales growth: 7%
- Global sales decline: 3.9%
- Royal Stag volume: ~32 million cases
- Imperial Blue divestment: Rs 3,442 crore
- India sales growth (ex-Imperial Blue): over 9%
Chairman and CEO Alexandre Ricard confirmed ongoing discussions regarding a potential Initial Public Offering (IPO) in India. Legal preparatory steps are underway to maintain strategic flexibility, though a final decision is not yet made.
Market Outlook and Brand Performance
Ricard characterized the Indian market as buoyant and a clear growth driver for the foreseeable future. The company anticipates further growth from the recently implemented India-UK Free Trade Agreement and a potential similar pact with the European Union.
- Jameson: now the leading imported premium spirit in India.
- Royal Stag: world’s largest-selling whisky by volume.
- Blenders Pride: a key contributor to double-digit growth.
The divestment of its mass-market Imperial Blue business to Tilaknagar Industries Ltd for Rs 3,442 crore significantly contributed to improved margins. This strategic move helped India’s sales growth exceed 9% when excluding Imperial Blue’s impact.