Pincon Spirit Limited

CIN: L67120WB1978PLC031561
Registered Office: 7, Red Cross Place, Wellesley House, 3 Floor, Kolkata 700 001.
Corporate Office: 103, Sanskruti Chambers, K.H. Road, Shanthi Nagar, Bangalore 560 027

FY16 Results (Consolidated)

Catapults to largest IMIL player in India
Total Revenue at Rs. 9,880 million, higher by43% yoy
EBITDA at Rs. 581million, up 64% yoy
PAT increased by 53% yoy to Rs. 255million
Board recommends Bonus Issue of 1:1, Dividend of Rs.0.75 per share
Kolkata, May 20, 2016: Pincon Spirit Limited (Pincon), one of the youngest and fastest
growing companies in India with a business presence in IMFL, IMIL and FMCG, announced its
audited financial results for the year ended March 31, 2016.
Particulars (consolidated - Rs. mn)

FY16

FY15

Shift %

9,879.5

6,928.1

42.6%

EBITDA

581.4

354.8

63.9%

EBITDA Margin %

5.9%

5.1%

80 bps

PBT

391.4

261.0

49.9%

PAT

255.0

166.6

53.1%

EPS (Diluted & non-annualized) (Rs.)

17.3

16.7

0.6%

Total Revenue

FY2016Investor Release

Performance Overview (Consolidated)

Total Revenue grew by 42.6% to Rs. 9,879.5millionas against Rs. 6,928.1million in FY15
with all business lines reporting a robust performance
Deeper penetration in existing markets and addition of point-of-sale in new
markets resulting in wider presence
Organic expansion complemented by inorganic initiatives which are strategically
undertaken to enhance product range, bouquet of brands and distribution / retail
network
Volume performance led by positive growth across all segments
IMFL division in own brand registered a robust increase in volumes of 64%yoy in
FY16
o Key brands in IMFL segment: Highland Blue, Ultra Force, Ruby Gold, and
Kings Coin
During the year, Volumes in IMIL division were 100%yoy higher
o Key brand in the segment: Pincon Bangla No. 1
o Recently acquired Bengal Tiger and Uddan
Edible Oils division volumes grew by 34% yoy in FY16
EBIDTA grew by 63.9% yoy to Rs. 581.4 million in FY16
Margins expanded as the increased scale of operations and wider presence
resulted in benefits from operating leverage
PAT higher by 53.1%yoy to Rs. 255.0millionas compared to Rs. 166.6 million in FY15
Diluted EPS in FY16 stood at Rs. 17.3per share
The Board has recommended a Final Dividend of Rs. 0.75/- per share as well as issue
of Bonus Shares at the ratio of 1:1, both are subject to the approval of shareholders at
the AGM

FY2016Investor Release

FY16 - Key developments

With the acquisition of two popular IMIL Brands viz Bengal Tiger and Uddan in
West Bengal, PSL has established itself as the leading player in the IMIL segment
In December 2015, PSL acquired the IMIL bottling unit of National Industrial
Corporation Ltd., (NICOLS)at Asansol, West Bengal has commenced production of
Bangla No.1 from the facility enabling ramp up of volumes by catering to the mining
belt of West Bengal
IMFL products are witnessing wider acceptability in Karnataka, one of the largest and
most lucrative IMFL market in India
Entry into Karnataka market offers multiple benefits - in addition to the significant
growth potential, Karnataka will serve as a gateway to the southern region which
enjoys the largest market share volumes of alcoholic beverages amongst all regions
in India
In Karnataka, Pincon Highland Blue Whisky, Pincon No. 1 Whisky and Pincon Kings
Coin Whisky are key selling brands from PSLs portfolio

Commenting on the results, Mr. Monoranjan Roy, Chairman & Managing Director, Pincon
Spirit Limited, said:
We are excited to deliver exponential growth across all our business segments. The recent
spate of acquisitions has elevated PSL to the largest IMIL player in the Country. We now have
three formidable brands in West Bengal and surrounding markets, viz. Bangla No.1, Bengal
Tiger and Uddan which cater to varied customer preferences enhancing our share of business
with retailers. The addition of the bottling unit in Asansol will aid further ramp up in production
of Bangla No.1 to cater to the demand in the coal mining belts of West Bengal. We are at the
forefront of revolutionary growth in the IMIL segment and very enthusiastic about the growth
prospects in the coming years.
In the IMFL segment, we have bouquet of products at varied price points offering significant
value to customers relative to competition. Our integrated presence enables us to identify
gaps in current offerings in the market. Low cost IMFL Brands of PSL has created a unique
customer segment with mass acceptability. PSL is at the forefront of this shift to tap the

FY2016Investor Release

opportunity with its entry level range of products. We have also increased geographical
penetration in West Bengal and our foray into Karnataka has met upward growth in market
demand. We are also enhancing our foothold in Jharkhand and Odisha.
In the FMCG segment, our edible oil brands have witnessed healthy traction in operations. We
are working on introducing additional products in edible oils and non-alcoholic beverages. We
are confident of emulating the success we have had in our other segments.
We have laid the foundations of a robust business model with a manufacturing to retail
presence. We are confident of maintaining the growth momentum as the all the business
segments have multiple opportunities waiting to be tapped.

FY2016Investor Release

About Pincon Spirit Ltd.

Pincon Spirit Ltd. (PSL) is one of the fastest growing Companies in India. The Company has a
growing presence in 8 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 11illustrious 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 17 retail IMFL outlets in West
Bengal. In the Companys FMCG segment, it sells Edible Oil (Mustard Oil, Soya Oil and Rice
Bran Oil) under Pincon and Kings Coin brand.
For further information on the Company, please visit www.pinconspirit.in:
For further information contact:
Arup Thakur / Partha Basu
Pincon Spirit Ltd.
Tel: +91 33 2231 9135/2262 4943
E-mail: arup.thakur@pinconspirit.in /
partha.basu@pinconspirit.in

Mayank Vaswani / Karl Kolah

CDR, India
Tel.: +91 22 6645 1230/1220
E-mail: mayank@cdr-india.com/
karl@cdr-india.com

Disclaimer:
Certain statements in this document may be forward-looking statements. These statements entail risks and uncertainties that
could cause actual events to differ materially from these forward-looking statements. Pincon Spirit Ltd. is under no obligation
to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new
information, future events or otherwise. The Company may, from time to time, make additional written and oral forward
looking statements, including statements contained in its filings with the regulatory bodies and reports to shareholders.

FY2016Investor Release