Corporate Office Gaja Capital 1402, Tower 2B One World Center Senapati Bapat Marg Lower Parel, Delisle Road Mumbai – 400013
+91 22 2421-2280
info@gajacapital.com
John Distilleries is one of India’s largest alcobev companies. The company’s flagship brand, Original Choice, is the seventh largest selling whisky in the world – having volumes higher than Jack Daniels, Imperial Blue and Ballantines. Original Choice is amongst the leaders in the economy segment of Indian Made Foreign Liquor (IMFL) whisky, which accounts for nearly 50% of all IMFL whisky sales in India. JDPL has a market share of 38% in Karnataka (leading position) and 10% in Seemandhra & Telangana (top 5 position). These states account for approximately 60% of all whisky consumption in India.
JDPL has broadened and premiumized its portfolio over the last few years with the launch of Mont Castle (premium brandy), Paul John Single Malt (super premium whisky) and the recently launched Roulette (super premium brandy). It has also built a unique portfolio of wines under the brands Big Banyan (premium), Ampersand (semi-premium) and Goana’s (economy).
Since its launch in late 2012, Paul John Single Malt has won numerous prestigious awards. It was awarded the ‘Liquid Gold’ certification by Jim Murray with a score of 96/100 in all three editions – 2013, 2014 and 2015 – of his Whisky Bible. In addition, it has won several gold and silver medals in the ‘International Spirits Challenge’, ‘World Of Whisky Masters’, and ‘Wizards Of Whisky’ events over the last three years. The success of the company’s brands across categories and price spectrums underscores JDPL’s strong product development capabilities and its extensive understanding of consumer preferences.
cases of IMFL sold every year
largest selling whisky in the world
point-of-sales across the country
IMFL is one of the largest consumption categories in India and is purchased and consumed like an FMCG product. There is strong brand preference, tendency to move up the brand ladder and daily/non-discretionary consumption especially at the lower end of the price ladder. There are significant barriers to entry and each state is a different market involving heavy investments in licensing, bottling units, etc. This provides the incumbents with dominant market shares significant advantage in their home markets.
JDPL’s flagship brand ‘Original Choice’ is one of the largest brands in its category worldwide and has demonstrated consistent growth. In addition, the company has also created several other brands in premium brandy, whisky and wine categories which provide it additional avenues of growth. JDPL also produces its own malt and grape spirit, and as the company grows its premium brand portfolio, control over high quality matured spirit provides a significant competitive advantage.
The brand has continued to deliver growth and enabled the company to build on its distribution strength to launch new brands. Over the last two years, the company has grown its revenues more than 1.5x.
Reduced high cost debt, maintained or grown market share in key markets and invested in new premium brands that will contribute to future growth.
We have worked closely in several key areas including consolidating the flagship brand, expansion into new packaging categories such as brick packaging, supporting growth of new, premium brands and senior level hiring.
Eye On India: Investments at a Record High in 2019, Which Are the Factors Driving PE Investments?
What’s hampering growth of consumer-focussed companies? Imran Jafar talks to VC Circle
Sazerac raises a toast with John Distilleries stake buy
"With their clear thought process and continuous desire to push the extra mile, Gaja Capital has helped grow this business at pace. Considering the control barriers in the space in which we operate, Gaja Capital added value in Corporate Governance and has become an integral part of our business."
"We saw in JDL a growing consumer business that was in the sweet spot of consumption in its category – both from geographic markets and economy price points. It was also a high quality operation that had the ability to move up the value chain towards premium products"
People Home Finance
Fractal Analytics
Power enterprise decisions with AI that works
Eggoz
India’s leading branded eggs company
Amber
Signzy
Leadsquared
A leading high velocity sales & marketing platform made in India for the world
Xpressbees
RBL Bank
Educational Initiatives
Massive
Avendus
Kinara
Suryoday
SportzVillage
Bakers Circle
G.O.A.T
Premier platform for lifestyle brands in India
EuroKids
Carnation
India’s largest independent after-market car services player
Haldia Coke & Chemicals
Fuelling India's steel industry
TeamLease
Bonanza
India's second largest retail broking network
CL Educate
Top three supplemental education company