According to the newly amended excise policy in Rajasthan, the hike for all types of country liquor has roughly doubled compared to the increase from the previous financial year.
Tipplers in Rajasthan will now have to shell more to enjoy their alcohol as the state government has hiked the price of Indian Made Indian Liquor (IMIL) and Rajasthan Made Liquor (RML). According to the newly amended excise policy, the hike for all types of country liquor has roughly doubled compared to the increase from the previous financial year.
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According to an amended excise policy notification for financial year 23 and 24, the ex-distillery price of IMIL has been increased by Rs 40 per carton. While the 30 percent additional excise duty currently applicable on Rajasthan-made and India-made liquor has been abolished. An increase of Rs 40 per carton has been made on the supply of a quarter in glass vessels of UP country liquor and Rajasthan made liquor and Rs 30 per carton on the supply of other vessels.
Along with an increase in raw materials, the increased cost of ENA (extra neutral alcohol) in the last couple of quarters along with packaging costs has led to an increase in the alcohol prices.
Incred Equity, in a note, said that Global Spirit has nearly 34 percent market share in the categories mentioned and the sales in the state of Rajasthan account for 70 percent of the total consumer business in the country. The price hike will help increase Global Spirit's profit after tax by five percent.
First Published: Feb 3, 2023 11:38 AM IST
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