French spirits maker Pernod Ricard reported a 19% sales growth in India for the September quarter. The company stated that its proposed initial public offering (IPO) in the country is still under discussion and awaiting board approval.
Strong Demand Drives Growth
Pernod Ricard highlighted that the double-digit sales growth in the first quarter of financial year 2027 in India, its second-largest market globally after the US, is driven by strong demand and ongoing premiumisation. The company noted that the market continues to benefit from dynamic consumer fundamentals.
“"Growth is broad-based across the portfolio, with imported spirits in very strong double-digit growth, including Jameson, Absolut, and Ballantine's, and with strong double-digit growth from Seagram's whiskies Royal Stag and Blenders Pride," the company's earnings statement revealed.
Pernod Ricard mentioned that preparatory steps for a potential IPO in India have resulted in a favourable pipeline-filling effect, contributing to sales growth in the first quarter. The company expedited some shipments to ensure uninterrupted supplies during the transition following a name change, which required relabelling of products.
