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By Nishang Narayan
Published on October 10, 2024
The Indian alcoholic beverages (alcobev) industry is set to experience strong growth in FY2025, according to a recent report by ICRA. The report predicts a revenue expansion of 8-10 percent, driven by consistent demand for beer and a recovery in the consumption of spirits, as well as an increasing consumer preference for premium products.
In Q1 FY2025, the spirits industry saw a revenue increase of approximately 9 percent year-on-year (YoY), supported by 5-7 percent improvement in realizations and 2-4 percent volume growth. The beer industry, in particular, benefited from the peak season, recording a 12 percent YoY revenue increase, due to 3-5 percent volume growth and 7-9 percent rise in realizations.
Commenting on the volume growth, Kinjal Shah, Senior Vice President and Co-Group Head of Corporate Ratings at ICRA, said: “We expect the alcobev industry volume growth to improve to 5-6 percent in FY2025, up from ~4 percent in FY2024. Spirits volumes are projected to grow at a moderate pace of 2-4 percent, supported by favorable demographics and limited tax increases. Meanwhile, beer is expected to see a 5-7 percent volume growth, building on a high base from FY2024."
Despite the rise in grain prices, particularly non-basmati rice, the operating profit margin (OPM) for ICRA’s sample set of companies is anticipated to remain stable at 12-13 percent in FY2025, thanks to declining packaging material costs such as glass bottles, which benefited from lower soda ash prices.
Shah noted, "While grain costs surged by 20-25 percent in H1 FY2025, prices are starting to stabilize, particularly for non-basmati rice. Additionally, price hikes granted by various state governments are expected to support margins. However, the diversion of grains toward ethanol production, driven by government blending mandates, will be a key factor to watch."
The capital expenditure (CAPEX) trend within the industry also points to sustained growth. Companies in ICRA’s sample set invested over INR 1,000 crore in FY2023 and FY2024, primarily to enhance distillery and brewery capacities. While CAPEX is expected to moderate to 2-3 percent of operating income in FY2025 and FY2026, this follows a period of significant capacity additions.
ICRA forecasts that debt levels will remain stable, supported by modest debt-funded CAPEX plans and strong cash accruals. Debt coverage metrics are expected to be healthy, with total debt/OPBDITA projected at 0.3-0.5 times and interest coverage at 27-30 times in FY2025.
In conclusion, the Indian alcoholic beverages industry is likely to remain in high spirits throughout FY2025, buoyed by a favorable demand outlook and stable profitability, despite rising input costs.
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By Hariharan U
Published on January 13, 2026
Makar Sankranti, Lohri and Pongal mark the arrival of longer, brighter days and are celebrated across India with harvest foods, warmth, and family togetherness. Rooted in gratitude and sharing, these festivals bring seasonal produce to the centre of the table, turning simple ingredients into comforting festive favourites.
This festive season, bringing families into the kitchen can be just as meaningful as the meal itself. Easy-to-make classics inspired by regional traditions allow festive cooking to feel joyful rather than overwhelming, while still honouring authentic flavours and time-tested recipes.
One such favourite is Golden Sesame Chikki Bites, a Sankranti essential made with toasted white sesame seeds and warm jaggery. Crisp, nutty and lightly spiced with cardamom, these quick homemade chikki squares deliver the perfect balance of crunch and sweetness, making them ideal for sharing during festive gatherings.
For Pongal celebrations, Curd Rice Poppers offer a refreshing twist on a South Indian staple. Soft rice cooked with moong dal and milk, gently sweetened with jaggery and finished with cardamom, cashews and raisins, creates a comforting dish that fits seamlessly into a festive lunch spread while remaining light and nourishing.
Adding a savoury note to the table are Harvest Veggie Skewers, featuring winter vegetables like sweet potato, carrot and baby corn. Lightly parboiled, brushed with a honey-spice glaze and grilled to a gentle char, these skewers celebrate seasonal produce while bringing colour and warmth to festive menus.
Together, these easy winter recipes blend tradition with modern convenience, making festive cooking simple and enjoyable. With thoughtful preparation and a focus on togetherness, the harvest season becomes less about elaborate planning and more about sharing flavours, stories and time around the table.
Baroak has opened its doors in Noida Sector 15A, bringing a refined indoor–outdoor dining and bar experience to the city’s evolving lifestyle landscape. Designed as a space for unhurried meals, thoughtful conversations and well-crafted cocktails, the venue positions itself away from high-decibel nightlife, focusing instead on mood, comfort and pacing.
The name Baroak draws from two inspirations, the intricate structure of Baroque design and the warmth and familiarity associated with oak. This duality is reflected across the space, which feels elegant yet approachable, detailed yet easy to settle into. Set within a standalone property, Baroak offers a sense of separation from the surrounding urban bustle while remaining well connected to Noida as well as South and East Delhi.
The venue is divided between refined indoor seating and an open-air garden, offering distinct yet complementary experiences. Indoors, the design language is layered and classic, while the outdoor space leans relaxed and natural. As the day transitions into evening, the ambience evolves gradually, allowing guests to ease into the experience rather than being overwhelmed by sudden shifts in energy.
Baroak’s culinary offering spans Indian, Oriental and Continental influences, with dishes that balance familiar flavours and modern presentation. The menu is designed to evolve seasonally, while select signature dishes remain constant, reflecting the kitchen’s focus on consistency and balance.
At the bar, the cocktail programme reinterprets global classics using Indian botanicals, herbs and spices. The emphasis is on clarity and structure rather than novelty, resulting in drinks that feel recognisable yet distinctive to the Baroak identity.
Music and programming are curated to complement the space rather than dominate it. The venue hosts baithak-style evenings, ghazal nights and globally inspired soundscapes, alongside occasional live performances, creating an atmosphere that supports conversation and connection.
With multiple seating zones and semi-private areas, Baroak caters to a wide range of occasions—from after-work gatherings and social evenings to group celebrations and corporate dinners. Through its design, food and beverage philosophy, Baroak adds a considered, experience-led destination to Noida’s dining scene, offering guests a place to slow down and engage with all the senses.
By Manu Vardhan Kannan
Chinese Wok, one of India’s leading Desi Chinese QSR brands from Lenexis Foodworks, has announced the launch of its first outlet in Hubli at Inorbit Mall. With this opening, the brand marks its entry into one of North Karnataka’s key commercial and education hubs, a city known for its young population, growing mall culture, and rising preference for organised dining experiences.
The Hubli outlet further strengthens Chinese Wok’s presence in Karnataka, where the brand now operates 36 outlets, including 31 in Bengaluru. Across South India, Chinese Wok has expanded its footprint to a total of 87 outlets, reinforcing its focus on making Desi Chinese cuisine easily accessible in emerging cities beyond metros.
South India continues to play a central role in the brand’s growth story, driven by strong adoption of food delivery, increasing acceptance of organised QSR dining, and consistent repeat consumption across metro and Tier-II markets. Karnataka has emerged as a key scale-up state, and the Hubli launch reflects Chinese Wok’s broader strategy of building strong regional clusters by expanding into high-potential Tier-II cities.
Located within Inorbit Mall, the largest shopping mall in Hubli, the new outlet benefits from strong daily footfall, with the mall recording nearly 5,000 visitors on weekdays and around 10,000 visitors on weekends. From this location, the kitchen will serve multiple brands under Lenexis Foodworks, including Chinese Wok, Big Bowl, and The Momo Co.
Speaking on the expansion, Aayush Madhusudan Agrawal, Founder & Director, Lenexis Foodworks, said, “Hubli is an important market for us, and we are delighted to open our first store here. Cities like Hubli are seeing rapid growth in organised dining and modern QSR formats. Our expansion into such markets is a key part of our strategy. With the new outlet at Inorbit Mall, we look forward to offering residents of Hubli our signature Desi Chinese flavours along with value, convenience, and a high-quality dining experience.”
The outlet offers a wide range of popular favourites including Burnt Garlic Fried Rice, Hakka Noodles, Chowmein, Kurkure Momos, six varieties of sauces, and 12 Saver Combos. New customers can also explore the Superbowl, making it an easy starting point to experience the brand’s Desi Chinese offerings.
Designed to serve families, students, office-goers, and shoppers, the Hubli outlet is open for dine-in, takeaway, and delivery, catering to consumers in and around the Inorbit Mall area.
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