“The Tough” thy say, “gets going, when the going gets tough”. One look at the current figures that Kolkata based Pincon Spirits and one cannot but agree more with the ditty. For, at a time when the economy has gone into a tailspin and corporates across the board are gasping to stay afloat, Pincon has not only maintained it growth spurt, but has also posted numbers that will be termed impressive, even in the best of times.

Pincon’s gross revenue for the third quarter of FY 17 is up 31 percent, when compared to the numbers it posted in Q3 ’16. In Rupee terms that a jump from INR 237.41 crores to INR 311.90 crores. Demonetisation be damned! This has, in turn, translated into a whopping 52 percent jump in the PAT – which is up from INR 6.16 crores to INR 9.34 crores.

Following demonetisation, market watchers had unanimously predicted that alcohol beverage revenues will be decimated. So how did the company pull off this near impossible feat? Smiles Monoranjan Ray, the CMD of Pincon Spirit, “we had taken a three-pronged approach to meet the challenges of the market’s dynamism. We value added our product mix, deepened our market penetration and strengthened our distribution system. The result is for everyone to see.”

There is more to what the soft-spoken swashbuckler is saying – as market experts point out, Pincon’s home run can be attributed to its very smart move of stressing on (and dominating) the sub Rs. 100 product category, where the real growth and the mindboggling numbers are. While 51 percent of its sales had come from this category in Q3 FY16, this time around, it has gone up to a massive 60%. Cheers to that!

It has, the savvy entrepreneur that it is, has also ensured that its finished inventory has gone down to 68 days of Turnover in the current quarter as opposed to the 71 days in the comparable quarter in the previous year. In plain speak that means more savings, less headaches and an obvious reflection in the Balance Sheet. To put things in the right perspective, one also must remember the fact that Pincon is the Nation’s largest country spirits company, which literally means a lot of savings in three days.

But this is just the beginning. While company sources are tight lipped about the coming quarters, the market is agog. If the grapevine is to be belied, Pincon is ideally suited to take full advantage to the impending upswing in the demand for its key products. The shrewd move of investing on a captive logistics division has also started paying off as it goes about deepening its penetration and easing out the distribution bottlenecks. What is more, experts opine, the true reflection of the hike in the product prices will only come in the subsequent quarters, which they hasten to add, will be accompanied by the customary fireworks. And by the way, Pincon is currently in the process of rightsizing its Balance Sheet, something that will naturally add further punch to the fire-waters it sells.

However, there is another reason for Pincon to raise its glass in a toast. The Bengal Government’s assuming of Alcobev distribution control, experts are unanimous, will put the Company’s bottom line on steroids. For one, its working capital cycles will shrink substantially. Secondly it will deal a body blow to the illicit liquor trade and finally, hep broaden the organised market with all its attendant benefits accruing to Pincon.

But that is not all that there is. In another extremely logical move, the Company has just announced that it has taken over five retail outlets in Kolkata’s prime locations. Alcohol industry stalwarts are sitting up in their bar stools to watch how this move by the market shaker plays out even as the company tries to mark its presence in the entire space from distillation, through distribution to consumption.

For more information:

www.pinconspirit.in

The post Pincon primes up appeared first on Core Sector Communique.

In Search of a dream…

The incredible story of Monoranjan Roy, CMD, Pincon Spirit Limited.

He was one of the many who throng Kolkata’s colleges every year in search of education as a ticket to prosperity. He was one of the even more who, armed with their degrees, run from Kolkata’s pillars to posts, in search of the ever elusive “career”. And, he was one of the innumerable who are unsuccessful in connecting their youthful dreams with the stark realities of life. But, it is here that the similarities end. For this man, who had failed to get the employment he deserved, decided to venture out on his own and took a vow, that one day, he will create the jobs that young men seek – putting on their lips the smile that he had failed to smile himself. The year was 1996.

Cut to 2016. The same man, who had once roamed the city’s streets with his bio-data and photocopies of his mark sheets duly attested, is today the Chairman and Managing Director of a company with a turnover of INR 950+ crores. His business empire spans across 6 states with 6 state of art manufacturing facilities, where he manufactures products that are sold in across India and flaunts of brands that are among the fastest growing in their respective segments. He is perhaps the biggest disruptor, if one can borrow the term from the world of the start-up’s in India’s liquor industry and is acknowledged as a leader of exceptional managerial skills by the stalwarts of the industry. But most importantly, he directly employs 1000+ people in his entity. Not bad for one who was jobless just the other day. Not bad as an achievement within a span of twenty odd years either.

Meet Monoranjan Roy, CMD of the BSE and NSE Listed Pincon Spirit Limited (PSL). PSL, the flagship Company of PSL Group is one of the few companies from Eastern India that can lay claim to the kind of trailblazing success that it has achieved. Today, the company’s businesses are spread across Indian Made Foreign Liquor (IMFL), Indian Made Indian Liquor (IMIL) in Country Liquor Segment (C.S.Liquor), Retail Chain of IMFL / IMIL Off & On Shops and Fast Moving Consumer Goods (FMCG) being Edible Oils of different types. As a matter of fact, PSL is the only company in India to have business presence in  both  the IMIL / IMFL and FMCG products a fact that accords it with an unique edge apart from cushioning its businesses from the natural crests and troughs of commodity cycles. From a Multi – State player to be PAN India Company PSL too has made the same mind boggling transition that it’s moving spirit Monoranjan Roy. It will not be out of place to mention here the fact that

PSL also enjoys another unassailable edge in the IMFL / C.S. Liquor by way of having an active presence in the entire chain of production, wholesale and retail, which has contributed to its Brand Dominance and Brand Acceptance, resulting in synergies that lead to much greater sales volume, profitability and cash flow.

Says Ray, “you will not be able to gauge the kind of hardships that I have gone through, or the innumerable failures and rejections that I have been subjected to, by looking at Pincon today. The brands that are now hailed as leaders, this business that is now being talked about as pioneering, the revenues that we now post – are all results of the blood, sweat and tears that I have put in for years at an end, often not knowing how or what the new dawn will bring in. Life is neither easy, nor kind to the lone warriors at the bottom of the pyramid and it was my resolve, to fight to the finish, every time life threw up a new challenge that has brought me here”.

“But it will be wrong to say that the war is over: only the challenges have become more demanding, the stakes have become higher” says the down to earth Ray, who is preparing his empire for another surge forward. His message to all those who dream of the dreams that he had dreamt one day is equally simple: “don’t give up, however bad the situation may look, just tell yourself that it can’t get any worse and carry on. For life is not about winning or losing – it is all about fighting!”

For More information contact:

http://www.pinconspirit.in/

The post The incredible story of Monoranjan Roy, CMD, Pincon Spirit Limited appeared first on Core Sector Communique.

The “Spirit” of Entrepreneurship

“Far from the glaring arch-lights of the media, a revolution is brewing in West Bengal, yet unsung, but one that will one day change the way the Nation thinks about fiscal management and good governance in the field of revenue generation” said Monoranjan Roy, the young and dynamic Chairman & Managing Director of Pincon. Secure in the knowledge that the full attention of the audience has been grabbed with his opening gambit, the emotionally charged Roy, professionally qualified, son-of-the-soil entrepreneur, continued:

“Have you noticed how the negative terms like empty coffers, lack of investments, industrial slow-down, step-motherly attitude of the Center and the like have been pushed away from our collective consciousness? This has been achieved by pro-active measures, by a will to set the house in order, by single minded devotion towards good fiscal management, for which full credit should be given to the incumbent Government. Revenue generation has been stressed upon, procedures have been streamlined, weak-links in the chain have been identified and addressed, leading to compliance having improved, which in turn have yielded record collections, putting the state back on the growth path. Needless to say, the most important component in this whole scheme of things has been the collection of Excise Duties – and it gives me immense pleasure as we too have contributed, in our little way, in this effort to ensure that West Bengal regain her rightful place in the economic sun”.

Roy has reasons to be content. His flagship, Pincon Spirit, contributed a few crores as Duties to the State’s Exchequer in the current year, something that is continuously increasing at a steep rate over the years. This surge has been brought about by the run-away success spread across its major brands – Highland Blue Whiskey, Pincon XXX Rum ,the King’s Coin range and last but not the least, Pincon Spirit Limited’s major hit in India Liquor Industry, it’s venture in IMIL (India Made Indian Liquor) or the Country Liquor “Bangla No.1 , Uddan & Bengal Tiger brands. Presently Pincon Spirit Limited is the largest producer in Country Spirit Segment in India.  Besides, with growing social acceptance of alcoholic beverages, the recession proof market is expected to grow exponentially in the near future adding further fuel to the ongoing fireworks.

“There is a perceptible shift in the preference for spirit based alcoholic drinks – the “medium segment” as it is known in the trade circles –  at the center of the pyramid and consumption patterns indicate a huge untapped potential” says Roy. “At Pincon we are not only working towards winning over this population who are embracing branded products with assured quality standards at attractive price points, but are also taking all possible steps to streamline our production and logistical support systems to cater to the needs. This will not only mean higher realisations for the company, but also a substantial increase in our contribution to the overall development and growth of the state by way of taxes. The satisfaction of weaning away the consumers from locally brewed alcohol that is neither quality assured nor safe for regular consumption, being and added extra.”

The company has already taken giant strides in its traditional base, the eastern states of West Bengal, Odhisa, Jharkhand and the North East, and is currently focusing on the southern and northern states of India where medium liquor has a huge demand. “The game plan is in place and we are confident of having a pan-Indian presence by 2017” says a visibly proud Roy.

“I am extremely bullish about the market – not only because of the social factors that are at play, but also for the extremely pragmatic steps that are being initiated by the Government” says Roy, adding “I will not be surprised, if over a reasonable period of time, we at West Bengal are able to present before the Nation a thriving model of revenue generation and will certainly hope that Pincon will be at the very forefront of this positive exercise.” Not a tall order, considering the fact that Pincon is today among the fastest growing entities in its segment in the country and has a whole lot of things going its way – its focus on the medium segment, where the maximum growth potential exists being the game changer. “They have well entrenched brands in every segment across the Whiskey, Rum, Brandy and Vodka divide apart from having a formidable presence in the strong beer segment” said a competitor who did not want to be identified. “What is remarkable is the way the company manages its logistics, scaling up to cater to emerging demands in this high volume game”. It will not be out of context to point out the fact that the company already has distilleries running in West Bengal, Odhisa, Jharkhand, Sikkim and Goa which provides it with a significant competitive edge – a solid base on which Roy is busy building the superstructure of future growth.

Considering the fact that Pincon is a relatively young company that has been built from the scratch, almost single handedly by Roy, its illustrious Board of professional Directors notwithstanding, the accolade, especially from competitors that include the big and the mighty, is enough to make a sense of complacency slip in. But Roy is made of sterner stuff, “When I go out of the state, I keep hearing people state pejoratively that our efforts towards industrial resurgence is doomed to fail as we do not have, what they call son-of-the-soil-industrialists. In fact, many list it as the biggest shortcoming we have vis-a-vis states like Gujarat. I have taken on myself the onus of proving every single critic of the state wrong by the dint of honest hard work. Every one of us at Pincon is focused towards this end and we will not rest till we are able to convert Pincon into a case in point”.

Noble words, those. Especially, considering the way the spirit of entrepreneurship is raising a toast to the state, shedding new light on the entire gamut of the now clichéd Public-Private Partnership.

(*Note: includes sales from the FMCG sector where the Pincon has a substantial presence across states in the edible oil market. As a matter of fact, the Pincon brand is an undisputed leader in the segment having painstakingly built up a loyal customer base by the dint of its consistent stress on quality.)

The post Men Who Matter : Monoranjan Roy, Chairman & Managing Director, Pincon appeared first on Core Sector Communique.

Monoranjan Roy, CMD, Pincon Spirit Limited, the fastest growing entity in its domain, is a first generation entrepreneur, with roots in rural India. Commencing his business at a young age, he has literally traversed the entire gamut, from the nadir in the beginning to the zeniths of the present. “Every set back” he says, “has  made me analyze the mistakes that I have done, which has enabled me to create a multi hundred crore business conglomerate, headed by flagship company Pincon Spirit Limited”. His response, “without malice to anybody” as he qualifies:

Q1.      What according to you should be the top three priorities for the next Government?

A1.       (a) More thrust on infrastructure development, which shall contribute towards strengthening the GDP resulting into slowdown of inflationary bias in the economy.

(b) Calculated and practical financial exposure of Banking Sector towards SME & MSME business for micro level growth of the economy.

(c) Positive and vigourous steps towards the cause National Integration for socio-economic stability.

Q2.      When do you see India coming out of the current economic limbo?

A2.       If a steady Government is formed, it should take anywhere between 3 to 5 years for India to come out of the present economic limbo. This I feel that the fiscal lacuna that has started to surface out has yet to reach its ultimate level, which might take another year’s time and the corrective measures taken has a normal gestation period, and the duration to reach in an economical stable state shall depend on the material quantum of the set back.

Q3.      On a scale of 1 to 10, how hopeful are you that the 2014 elections will mark the beginning of the Indian Economic Resurgence?

A3.       6.50.

(We had posed Three Questions to a wide cross section of opinion leaders – academics, industrialists and those who we think are the Nation’s think-arati. Watch this space, we will bring you more.)  

The post Three Questions: Monoranjan Roy, CMD, Pincon Spirit Limited, on the Economy the day after the Elections. appeared first on Core Sector Communique.