Industry Odisha Bureau, Oct 14: Amrut expects flat sales until 2030 as whisky demand outpaces mature stock. Cheaper Scotch imports under the India-UK trade pact are adding pressure. Amrut is responding with blended malt and a cheaper single malt.
Amrut Distilleries expects broadly flat sales through 2030 as it faces an inventory shortage. Demand for its single malt whisky continues to exceed production capabilities. Managing director Rakshit Jagdale said the company simply cannot raise volumes yet.
Rising imports of cheaper Scotch add a second pressure on the Bengaluru-based distiller. Jagdale linked the trend to India’s free trade agreement with the UK. He expects newer Indian blended whiskies to feel the impact most.
Amrut holds about 75,000 nine-litre cases of single malt inventory. Last year, it expanded distillation capacity to roughly 1.3–1.4 million litres. Yet fresh spirit cannot be sold as single malt straight away. Indian single malt needs at least three years of maturation.
This creates a long gap between production investment and saleable stock. Distillers must forecast demand years ahead and finance inventory while it ages. Storage, working capital and cash flow all come under strain during rapid growth. Higher capacity today therefore cannot ease the present inventory shortage.
Cheaper Scotch is already being felt in some markets. Jagdale said prices of certain imported Scotch brands have fallen by over 15%. That decline is hurting Amrut’s sales in North India, he said.
Lower import costs can narrow the price gap between Scotch and domestic premium whisky. Shoppers may then favour established international labels over newer local brands. Amrut has not announced major price cuts in response. It is studying the trade deal’s impact before changing prices.
The company is broadening its portfolio to reduce reliance on single malt. It has introduced blended malt whisky to serve the luxury spirits segment. Jagdale said dependence on single malt otherwise ties sales to limited volumes. Blended malt may ease, but not remove, supply constraints.
Amrut also plans a more affordable single malt for North India before December. It would be priced about 15% below the company’s Fusion brand. The move could help it compete with cheaper imports. The challenge is widening access without diluting its premium image.
Beyond whisky, Amrut already sells rum and brandy. It is exploring a partnership with Mexican distilleries to create its own tequila brand. Bottling could initially happen in Mexico, Jagdale said.
Some operations might later move to India. The plan remains exploratory, with no agreement announced. A new category could spread risk across more premium spirits.
Competition at home is also intensifying. Indian single malt sales have risen sixfold since 2020, according to the report. Amrut and Paul John pioneered the category in the 2000s. Radico Khaitan later entered with Rampur.
Newer domestic players include Piccadily Agro’s Indri and Kamet. Global groups have also launched Indian brands, including Pernod Ricard’s Longitude 77. Diageo has entered with Godawan. Brands now compete on quality perception, pricing, reputation and distribution.
Strong demand alone will not guarantee growth for Amrut. The company must balance limited inventory, future production and pricing discipline. How it handles rising Scotch imports will shape its position through 2030.
