Introduction
Pincon Spirit Limited is one of the household names in the Indian beverage market. The company was incorporated in 1978, and since then, it has experienced enormous growth in the Indian beverage sector. This growth journey was initiated by Monoranjan Roy, who happened to be the CMD of PSL. Monoranjan Roy’s PSL growth strategy helped the company in building itself an excellent space in the Indian beverage and liquor market. It also surpassed its competitors and enhanced the country’s economic growth and prosperity.
So, let us take a quick look at some of the main strategies applied by Monoranjan Roy Pincon Ltd. towards helping PSL achieve the desired growth in the Indian liquor market:
Expansion into the IMIL/IMFL sector:
Although Pincon Spirit Limited started small, very soon, the company transitioned into the IMIL/IMFL sector. In fact, it became one of the most popular names in the sector. This allowed the company to capture the country’s liquor market in the East Indian region. It was also able to build itself an excellent pan-India presence. According to Monoranjan Roy News, the company’s strategy to include low-price, high-volume products, which have a huge consumption rate in the eastern state, further allowed it to increase its revenue generation and earn an excellent reputation in the Indian liquor sector
Control over the value chain
Under Monoranjan Roy‘s leadership, PSL succeeded in building itself a vertically integrated chain. The company started focusing on manufacturing, blending, bottling, and distribution of products. This allowed it to have total control over the value chain. By acquiring control over the entire value chain, it was able to achieve a competitive advantage in the liquor market. The company was also able to further boost its business presence and earn the trust of the customers.
Expansion of territories
Pincon Spirit Limited’s business started from the streets of West Bengal. At that time, the company was a small brand. However, very soon, PSL began to scale its operations. It started opening plants in different corners of the country. This allowed it to build an excellent pan-India presence. By 2017, the company had its operations in Orissa, Jharkhand, Haryana, Uttarakhand, and Karnataka, other than West Bengal. This wide geographical footprint allowed the company to extend its business further.
Ensuring financial stability
Now this is yet another way in which Monoranjan Roy Pincon Ltd was able to ensure smooth business operations during tough times. Under Monoranjan Roy’s leadership, Pincon was able to maintain financial stability. The company has the required assets to ensure that its various business operations are carried out in a smooth and effective way. Pincon also initiated the issuance of 30 million USD in masala bonds on the London Stock Exchange. This further positioned Pincon as a credible player in the global market with transparent corporate governance and scalable business practices.
Backward integration strategy
This happens to be another major driver of Pincon Spirit Limited’s strategy. Monoranjan Roy Pincon Ltd revealed that the company had acquired three bottling units in West Bengal alone. This acquisition allowed the company to boost its capacity significantly. The company was also able to have better control over its quality, supply timeline, and cost. This allowed it to remain volatile in the competitive market. The company also ventured into bottle manufacturing. This step in backward integration allowed it to improve its profit margin and reduce dependence on third-party suppliers.
Building an enhanced network
Monoranjan Roy Pincon Ltd always talked about the importance of networking in the retail sector. He mentioned that by building a proper network, the company will find it really easy to achieve business growth and remain competitive. With that in mind, the company entered into tie-ups with other big industrial names. The company also increases retail outlets from 33 to 100. This allowed it to create direct customer touchpoints and also improved brand visibility. The company also believed in offering quality products at affordable prices. This further allowed it to build a larger customer base.
In Conclusion
In this way, Monoranjan Roy’s incredible business insights and strategies, including his effective psl growth strategy, have allowed PSL’s business to thrive even during tough times. Under his leadership, the company was also able to scale its operations and build an incredible presence in the Indian liquor space. Monoranjan Roy also became an example for all those entrepreneurs who want to establish their presence in the competitive Indian business landscape, showcasing his exemplary psl growth strategy.