Meet man, once challenged Vijay Mallya, brain behind brands like 8PM whisky, Magic Moments, he is India’s newest…, name is…
India ranks as the world’s third-largest consumer of alcoholic beverages, drinking nearly 970 crore litres every year. The country’s alcohol industry is massive, estimated to be worth around Rs. 4.5 lakh crore. In the financial year 2020–21 alone, India exported alcoholic drinks worth Rs.2,386.91 crore. With alcohol consumption steadily rising across India, liquor companies have caught the keen attention of investors. The sector has seen strong growth, both in demand and in stock performance, making it one of the more lucrative areas in the market today.
Some of the top-performing liquor stocks recently include: United Breweries Limited, United Alcohol Limited, Radico Khaitan Limited, Globus Spirits Limited, GM Breweries Limited, Tilaknagar Industries Limited, and more.
Among these, Radico Khaitan has been a standout. The company’s share price has surged by over 50 per cent in recent months, helping its chairman, Lalit Khaitan, enter the billionaire club. At the age of 80, Khaitan has become one of India’s newest billionaires.
Khaitan owns 40 per cent of the company, and his net worth is now estimated to be around USD 1.1 billion. On July 2, 2024, Radico Khaitan’s market cap stood at around Rs. 23,700 crore, and it has now risen to nearly Rs. 33,000 crore.
Radico’s Journey: From a small distillery to a market giant
Radico Khaitan wasn’t always the giant it is today. The company started as Rampur Distillery & Chemical Company Ltd., which was bought by Lalit Khaitan’s father, G.N. Khaitan, in the 1970s. When the family split their business interests in 1995, Lalit took charge of the distillery.
In an interview with Fortune in 2020, he shared that his fascination with the liquor business started at a young age. Since he took over, Radico Khaitan has seen remarkable growth—from a modest valuation of Rs. 5 crore to a thriving company now worth over Rs. 5,000 crore. Under his leadership, Radico has launched several popular liquor brands and carved out a strong presence in both domestic and international markets.
The company is known for launching a variety of popular alcoholic beverages such as Whytehall Honey Whisky, 8 PM, Magic Moments, Contessa Rum, Old Admiral Brandy, Florence Brandy, Jaisalmer Indian Craft Gin, 8 PM Bermuda, Radico Gold Whisky, and several others.
According to reports, Lalit Khaitan had his first drink at the age of 28.
Competing with giants: Lalit Khaitan’s battle for market share
Lalit Khaitan’s rise in the Indian liquor industry wasn’t without hurdles. As he worked to grow Radico Khaitan into a major player, he found himself up against some of the most well-known names in the business. One of his biggest rivals was Vijay Mallya’s United Spirits, a dominant force in the market. Alongside that, he faced fierce competition from Stilldistilling Spirits India, Maka Zai, and Third Eye Distillery Holdings—each known for their premium spirits and innovative branding.
Despite the tough market, Khaitan managed to carve out a solid space for Radico, focusing on both mass-market appeal and premium offerings. His strategy combined a deep understanding of the Indian consumer with smart branding and expansion into international markets.
Lalit Khaitan’s Educational Journey
Lalit Khaitan’s success is also rooted in a strong educational foundation. He studied at some of India’s most prestigious institutions: Mayo College, Ajmer and St. Xavier’s College, Kolkata. He also did his studies from BMS College of Engineering, Bangalore – one of the country’s oldest engineering colleges
He went abroad to the United States and completed a specialized course in Managerial Finance and Accounting at Harvard University. This helped him bring global best practices into Radico’s growth strategy and financial management.
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