India: Carlsberg posts 25% decline in sales for the year ended March 2021
Carlsberg, India's third largest brewer, posted a 25% decline in sales during the year ended March 2021 after restaurants, bars and pubs remained shut for several weeks and reopened only with restrictions, The Economic Times reported on December 1.
The maker of Tuborg saw sales at ₹4,158 crore during FY21 against ₹5,576 crore a year ago. The company, however, posted a net profit of ₹120 crore compared to a loss of ₹16 crore a year earlier due to higher deferred tax in the base year.
The company, in its annual filings with the Registrar of Companies, said during the lockdown period, manufacturing as well as off-trade and on trade outlet selling of alcohol including beer were shut, resulting in a severe impact during the peak months for beer sales with no sales of beer in April.
"The beer industry volume declined versus the previous financial year (2019-20) by 33% and the volume of Carlsberg India declined by 31% versus the previous financial year with some gains in market shares in several states," it said.
With people drinking at home, spirits companies saw higher sales at retail stores. Brewers, which get a significant chunk from out-of-home outlets such as bars and restaurants, saw a more gradual recovery.
Beer companies in India have been facing low demand for three summers now.
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