| Beverages | Manufacture and sale of Indian Made Foreign Liquor (IMFL), Country Liquor, Malt Spirits, Ethanol | Strong brand legacy, pan-India distribution and licensing, ethanol production capacity | B2C consumers across Indian states and international markets | Premium whisky and single malt brands | 524 | 83 | Product sales from owned and franchise operations; export sales | Packaged product sales with price controls varying by state; premiumization focus | Rising disposable incomes, premium liquor demand, expansion into new states, and ethanol demand growth | Aristocrat, AC Black, King Henry VIII (Damn Good Scotch), Royal Pride |
| Food | Contract manufacturing of food products including malt extract and snack foods | Established processing units with diversification beyond liquor | B2B and B2C segments in food industry | Malted milk food products | 105 | 17 | Contractual manufacturing revenue and product sales | Contractual and product sales | Capacity expansion with automation, growing snack and malt food markets | Binnie's potato chips, Malt Extract products |
