Jagatjit Industries reports profitable FY 2023-24

Jagatjit Industries Limited (JIL), a leading manufacturer of Indian Made Foreign Liquor (IMFL) and Country Liquor in India, announced its FY 2023-24 annual results. The profitable annual results have further strengthened the foothold of the company and proved its market dominance. The company  reported a 22 percent increase in revenue from operation at Rs 708.16 crores for the Year Ended FY24 as compared to Rs 582.02 Crores in the previous Year. 

The company has undergone an impressive transformation, bouncing back to a significant rise in revenue from 2019 - 20. Jagatjit’ profit has been rising, and the year FY24 is a proof of it, the company’s net profit increased by 13% to ₹ 9.71 crore for FY 2023-24 as compared to ₹ 8.61 crores in the Previous Year. 

Jagatjit Industries is making a strategic push for industry leadership by continuously optimizing operational efficiencies and leveraging new market opportunities. The company has also been a frontrunner in incorporating cutting edge technologies to further enhance its infrastructure. With a comprehensive understanding of the industry, the brand is prepared to capitalize on the premiumization boom by launching new products in the premium segment. Jagatjit’ core focus is to revive their presence across diverse regions like Assam, Kerala, West Bengal, and Uttar Pradesh that will prove to be a milestone and contribute to expanding the company’s growth boundaries.

Looking ahead to FY 2024-25, Jagatjit Industries will continue the premiumisation push, building on the success of recent premium launches like Royal Pride Whiskey. The company is aiming to secure funds this year to eliminate its loans and the newly constructed ethanol plant will significantly boost the company’s cash flows.

Commenting on the results, Roshini Sanah Jaiswal, Promoter & Executive Director at Jagatjit Industries Limited said, “As Jagatjit Industries paved the way for growth and continues to set new benchmarks with a profitable year, we are already geared up and aiming to double our profits by the next financial year. The dedication of our team and partners is the  cornerstone of our transformation into a growth-oriented powerhouse. We are incredibly grateful to our investors and stakeholders who have placed their continued faith in us. With this kind of foundation stone we are driving a solid foundation for future growth.”