Date: August 6, 2026

Board Meeting Outcomes

The Management Committee of the Board of Directors approved capital expenditure for capacity expansion at Moradabad, Uttar Pradesh. The meeting was held on August 6, 2026, commencing at 5:15 PM and concluding at 5:40 PM IST.

Capacity Expansion Details

1. New Distillery Project

  • Project: Setting up a 66 MN BL per year Dual Mode Distillery
  • Location: Moradabad, Uttar Pradesh
  • Existing Capacity: Not applicable (new project)
  • Proposed Capacity Addition: ~66 MN BL per year
  • Completion Timeline: Q1 FY 2029
  • Investment Required: ~₹293.5 crores
  • Mode of Financing: Combination of Debt and Internal Accruals
  • Rationale: New Capacity Creation for Operational and Commercial Flexibility. Expected to improve margins and strengthen supply security through establishment of the Distillery.

2. Bottling Capacity Expansion

  • Project: Expansion of bottling capacity from existing ~6 MN cases per year to aggregate ~13 MN cases per year through:
  • Establishing a new fully automated bottling unit
  • Refurbishment of existing ~13 MN BL per year Molasses Distillery
  • Acquisition of additional land for proposed expansion
  • Location: Moradabad, Uttar Pradesh
  • Existing Capacity: ~6 MN cases per year of bottling capacity
  • Existing Capacity Utilization: Not available (under refurbishment)
  • Completion Timeline: Q3 FY 2028
  • Investment Required: ~₹202 crores (includes expenditure towards Bottling Unit, Refurbishment of the Distillery, and acquisition of additional Land)
  • Mode of Financing: Combination of Debt and Internal Accruals
  • Rationale: To cater to increase in demand in region.

Additional Information

The project follows the company's previous intimation dated January 16, 2026, regarding approval for acquisition of assets (land, building, plant, machinery and licenses) from National Industrial Corporation Private Limited in Uttar Pradesh. The expansion aims to enhance the Company's Indian Made Foreign Liquor (IMFL) Bottling capacity and enable expansion of distillery capacity to increase captive consumption of ENA in Uttar Pradesh.

Total Investment

Combined investment for both projects: ₹495.5 crores (₹293.5 crores + ₹202 crores)

Compliance Officer

Sumeet Maheshwari, Company Secretary & Compliance Officer (Membership No. ACS – 15145)