Pernod Ricard reported a 19% increase in India sales during the September quarter, supported by strong premium demand, while the company continues preparatory work for a potential India IPO that remains subject to board approval.
New Delhi, October 15 — French spirits maker Pernod Ricard reported 19% sales growth in India during the September quarter, driven by strong consumer demand and continued premiumisation across its portfolio.
India is Pernod Ricard’s second-largest market globally after the United States, and the company said its performance in the country remained strong during the first quarter of FY27.
Growth was broad-based across the portfolio. Imported brands such as Jameson, Absolut and Ballantine’s recorded very strong double-digit growth, while Seagram’s whiskies including Royal Stag and Blenders Pride also posted strong double-digit gains.
The company said underlying sales grew in the high single-digit range, with additional support from a favourable Maharashtra comparison base and a temporary pipeline-filling effect linked to preparations for a possible initial public offering in India.
Pernod Ricard brought forward some shipments to avoid supply disruptions following a change in the company’s name, which required relabelling of products. Management acknowledged that this contributed to reported quarterly growth.
The company also said preparations for a potential IPO in India are continuing. However, a final decision to proceed with the listing has not yet been taken and remains subject to board approval.
Pernod Ricard EVP for Finance and Tech Mauve Croizat said the board had asked management to continue preparatory work so that the company would be ready if an IPO decision is taken in the coming months.
India’s performance contrasted with weakness in some of the company’s other major markets. Pernod Ricard reported a 10% sales decline in the US and a 25% fall in China, with both markets affected by inventory adjustments.
At the group level, Pernod Ricard’s net sales declined 6% to €2.23 billion, compared with €2.38 billion in the same quarter of the previous financial year.
Pernod Ricard owns global brands including Absolut, Jameson, Chivas Regal, Ballantine’s and Glenlivet. In India, its Seagram portfolio includes Royal Stag, Blenders Pride, 100 Pipers, Longitude 77 and Xclamat!on.
The company said India continues to be an important growth market, supported by rising consumer demand and a shift toward premium alcoholic beverages.
