Triveni Engineering & Industries Expands into IMFL Market with Premium Whisky Offerings

Triveni Engineering & Industries Ltd informed the exchanges that it has entered the Indian-Made Foreign Liquor (IMFL) market with the launch of two premium whisky brands: Matsya Triple Reserve Blended Whisky and The Crafters Stamp Rare Artisan Blended Whisky. Both brands were introduced in Uttar Pradesh in July 2024, marking Triveni’s foray into the growing premium whisky segment in India.

Matsya Triple Reserve Blended Whisky, priced at ₹690 for a 750 ml bottle, is aimed at the Gen Z demographic, while The Crafters Stamp Rare Artisan Blended Whisky, priced at ₹950 for a 750 ml bottle, targets Millennials. Both brands have already earned accolades, with The Crafters Stamp winning “The Grand Gold” award and Matsya Triple Reserve receiving the “Silver” award in the Spiritz Selection for best products in the ₹501 to ₹1,000 whisky segment.

The annual production capacities for these brands stand at 1,35,000 litres for Matsya and 4,20,000 litres for The Crafters Stamp. Initially launched across 25 districts of Uttar Pradesh, Triveni plans to expand distribution to over 5000 retail outlets across the state by FY26.

Triveni is tapping into the growing trend of premiumisation in India’s alcohol market, offering high-quality artisanal whisky at competitive price points. With the introduction of these brands, the company aims to cater to evolving consumer preferences and deliver a superior whisky experience.

Commenting on the launch, the Vice Chairman and Managing Director of Triveni Engineering & Industries Ltd, Tarun Sawhney, said, “The launch of Matsya and The Crafters Stamp marks a significant step towards Triveni’s expansion into the fast-growing IMFL market. These brands are crafted to cater to the evolving tastes of India’s premium whisky consumers, underscoring our commitment to quality, innovation, and standing out in the market. With the premium whisky segment growing at a five-year CAGR of 5% and super-premium whisky at a CAGR of 9%, we are well positioned to tap into this growth in Uttar Pradesh, driven by a young and discerning demographic.” 

He further added, “As per industry estimates, in terms of volume, Uttar Pradesh is the largest state for Super Premium whisky while it ranks 3rd with respect to the Premium whisky segment. To tap this market, we are also establishing a new bottling plant at our Muzaffarnagar facility for high-quality IMFL products. This move aligns well with our vision to broaden our footprint in the alcohol industry and growth given our long history in the alcohol business.”

The Chief Executive Officer (Sugar Business) at Triveni Engineering & Industries Ltd, Sameer Sinha, stated, “Our entry into the IMFL segment represents a strategic forward integration & addition to Trivenl’s portfolio. With the premium whisky market growing rapidly, this move allows us to tap into new opportunities and expand our reach. By leveraging our extensive experience in high-quality manufacturing and distribution of FMCG products, we are confident that the launch of Matsya and The Crafters Stamp will strengthen our position in the IMFL space, aligning with our vision of growth.”

On October 23, 2024, Triveni Engineering & Industries share price opened at ₹394.00, touching the day’s high at ₹401.90, as of 9:37 AM on the NSE.

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