PREPARED BY CA DHIRAJ OSTWAL & CO.
Executive Summary
A premium craft spirits venture based in Goa is seeking to raise ₹8.3 crore in exchange for 10% equity. The company has completed all regulatory approvals, acquired a 1,080 sq. m industrial plot, and invested between ₹8.3–₹12.5 crore in equipment and infrastructure. The business aims to capitalize on India's rapidly expanding premium spirits market, valued at approximately ₹4.5 lakh crore, with a strategic focus on sustainability and quality.
Valuation Metrics
Fundraising Amount
₹8.3 Cr
for 10% Equity
Pre-Money Valuation
₹83 Cr
Post-Money Valuation
₹91.3 Cr
Infrastructure Investment
₹8.3-12.5 Cr
Current Capital Structure
| Shareholder Category |
Equity Stake |
Details |
| Promoters |
95% |
Founding team |
| Friends & Family |
5% |
Early supporters |
| Previous Funding: ₹1.66 Cr (Equity) + ₹2.07 Cr (Debt) |
Market Opportunity
Indian Alcohol Market Size: ₹4.5 Lakh Crore
- Rapid expansion in premium spirits segment driven by young demographics and rising incomes
- Liberalizing regulatory environment creating favorable conditions for craft distilleries
- Growing consumer preference for authentic, sustainable, and locally-produced spirits
- Significant export potential to international markets including UK, Canada, and Southeast Asia
Business Model & Strategy
Product Pipeline
- Phase 1: Sugarcane juice-based rums
- Phase 2: Vodka and Gin
- Phase 3: Aged premium spirits
Distribution Strategy
- Direct distribution system
- On-premise penetration focus
- Strategic export approach
- Initial: Goa & Maharashtra
Sustainability Commitment
- Carbon Neutrality: Commitment to net-zero carbon emissions across operations
- Water Neutrality: Sustainable water management and conservation practices
- Farm-to-Bottle: Natural, locally-sourced ingredients with minimal processing
Financial Projections (5-Year)
| Metric |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
| Revenue |
₹29.9 Cr |
— |
— |
— |
₹171.8 Cr |
| Net Profit |
₹1.58 Cr |
— |
— |
— |
₹59 Cr |
| EBITDA Margin |
— |
— |
25-30% |
25-30% |
25-30% |
Growth Trajectory: Revenue projected to grow 5.7x from Year 1 to Year 5, with net profit margins improving from 5.3% to 34.3%
Fund Utilization Plan
The ₹8.3 crore fundraise will be allocated across four key areas to drive growth and market penetration:
Marketing & Brand Building — 35%
₹2.91 Crore for brand positioning, consumer acquisition, and market awareness
Distribution & Expansion — 25%
₹2.08 Crore for channel development and geographic expansion
Operations & Team — 20%
₹1.66 Crore for talent acquisition and operational excellence
Working Capital — 20%
₹1.66 Crore for inventory management and operational liquidity
Key Strengths & Differentiators
- Complete regulatory approvals and owned industrial infrastructure (1,080 sq. m)
- Significant capital already deployed in equipment and facility development
- Strategic location in Goa with access to premium tourist and hospitality markets
- Sustainability-first approach aligned with global consumer preferences
- Phased product rollout minimizing market risk while building brand equity
- Strong export potential leveraging India's cost advantages and authentic positioning
Investment Highlights
- Entry into high-growth premium spirits segment with strong tailwinds
- Asset-backed business with tangible infrastructure and regulatory clearances
- Attractive valuation at 2.8x Year 1 revenue and 1.5x Year 3 projected revenue
- Experienced promoter team with 95% skin in the game
- Clear path to profitability with improving margins beyond Year 3
- Multiple exit opportunities through strategic sale, IPO, or trade acquisition