Carlsberg, a Danish brewer, said that its Indian business has reported lower volume growth at 7% due to higher base compared to about 30% a year ago. During Jan-March 2018, the high growth was on to a lower base when demand suffered due to highway ban. However, the company’s net revenue grew 16.6% during the quarter despite the volatile market.
Cees ’t Hart, Global Chief Executive Officer, Carlsberg, said, "India has a volatile business, due to the differences per state. And what we see as well are some lower sales in some states in anticipation of dry days, due to the elections, and as well we have changed some prices in some states. March was a bit softer. April is doing okay."
In India, Carlsberg, the world's third largest brewer, has about 18% market share backed by Elephant and Tuborg in a market skewed towards strong beer.
"We continue with our growth by first making sure that we have the number 1 and number 2 positions in a state and then continue to invest in another state. The last state we did was Karnataka. We opened the brewery a half year ago and that's what we are now focusing on," Hart further stated.