India’s brewery and distillery sector has been expanding steadily in recent years. The Indian alcoholic-beverage market — which includes beer, spirits, and related products was valued at approximately US $52 billion in 2021 and is projected to reach around US $64 billion by 2030, according to multiple market analyses.
Growth in the domestic market is being driven by rising consumer incomes, rapid urbanisation, premiumization trends, and evolving social attitudes toward alcohol consumption.
Separately, India’s ethanol and industrial alcohol segment, part of the broader distillery industry, is also expanding quickly due to government incentives, ethanol-blending targets (E20 by 2025–26), and investment in biofuel capacity. Together, these trends are creating significant growth opportunities for both beverage and industrial distillery companies.
Here are the 4 stocks in the brewery and distillery sector with the highest 3-year return.
Tahmar Enterprises
Tahmar Enterprises is a leading manufacturer of speciality products from grains and is in the business of manufacturing Extra Neutral Alcohol, IMFL (Indian Made Foreign Liquor) and Venturing into Pharma Grade Solvents. Its manufacturing plant has an installed production capacity of 45 Kilo Litres Per Day, highlighting its significant operational scale.
Stock details and financials.
With a total market cap of Rs 188 crore, the share has given a return of about 640 percent in the last 3 years. The shares gave a closing price of Rs 12.07 on Friday. The sales for the company stood at Rs 2.08 crore as on Q1 FY26 compared to Rs 2.01 crore as on Q1 FY25, with an increase of 3.48 percent. The company is a loss making company with loss as on Q1 FY26 of Rs 1.42 crore.
Winsome Breweries
Winsome Breweries Limited is mainly involved in making and selling beer, but also offers student training and manages investment activities. Showcasing its regional market position, the company is responsible for about 20 percent of the total beer sales in Rajasthan. The company is a part of The Winsome Group engaged in diversified activities of manufacturing & international trading globally, such as Breweries, Road Highways & Infrastructure, Anti-corrosive Paints & Polymers, E-learning, Skill Development, Energy, Metals and Minerals etc.
Stock details and financials.
With a total market cap of Rs 79.8 crore, this microcap share has given a return of about 225 percent in the last 3 years. The shares have given a closing of Rs 28.94 on Friday. The company has made very minimal sales of Rs 33 lakh in Q1 FY26 when compared to Rs 47 lakh in Q1 FY25 which is a drop of 30 percent. But the net profit has grown by 525 percent as profits in Q1 FY25 stood at Rs 4 lakh whereas Q1 FY26 stood at Rs 25 lakh, this was due to the control of expenses by the company.
Radico Khaitan
Radico Khaitan is one of India’s oldest and largest spirits companies, known for brands like 8 PM Whisky and Magic Moments Vodka. The company has a significant global footprint, with a presence in over 100 countries. Radico Khaitan is one of the most recognised IMFL (Indian Made Foreign Liquor) brands in India. The company was initially known as Rampur Distillery Company and was focused on distillation and bottling for branded players and canteen stores of the armed forces. Later on in the year 1997, Radico Khaitan ventured into its own branded IMFL products and launched its first brand, 8 PM whisky, which became its millionaire brand within a year of its launch.
Stock details and financials.
With a total market cap of Rs 41,904 crore, this mid-cap share has given a return of about 203 percent in the last 3 years. The shares have given a closing of Rs 3,130 on Friday and have achieved a recent high of Rs 3,421. The company made sales of Rs 1,494 crore in Q2 FY26, when compared to Rs 1,116 crore in Q2 FY25, which is a growth of 34 percent .
The net profit has grown by 69 percent as profits in Q2 FY25 stood at Rs 82 crore, which has increased to Rs 139 crore in Q2 FY26.
Assoc Alcohols & Brew
Associated Alcohols & Breweries Limited is a leading integrated manufacturer of alcoholic beverages, with operations spanning spirits, extra neutral alcohol, and grain-based ethanol.
The company is a prominent player in the liquor industry, with a significant presence in Madhya Pradesh, holding a 20-25 percent market share in IMIL and IMFL products. Additionally, it ranks among the top 5 IMFL players in Kerala and is the world’s first producer of White Brandy.
Stock details and financials.
With a total market cap of Rs 2,309 crore, this small-cap share has given a return of about 162 percent in the last 3 years. The shares have given a closing of Rs 1,217 on Friday with its 52-week high being Rs 1,496.3. The company made a sales revenue of Rs 267 crore in Q1 FY25 and Rs 252 crore in Q1 FY26, which is a growth of 5.9 percent. Similarly, the Net profit has grown from Rs 18 crore in Q1 FY25 to Rs 24 crore , with a growth rate of 33.33 percent.
Written by Leon Mendonca
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