SUMMARY
Indian beer producer Bira 91 has posted a total income of INR 462.8 Cr in FY21
The company total’s expenses dropped to INR 674 Cr, a noticeable drop from INR 719.6 Cr in FY20
The company is reportedly in talks to raised $70 Mn in a fresh round
Indian beer maker B9 Beverage Private Limited, commonly known as Bira 91, narrowed its loss by 30% to INR 211 Cr in the financial year ending March 31, 2021 from INR 304.8 Cr in the financial year 2019-20 (FY20).
The New Delhi-based brand witnessed a minor drop in its total revenue to INR 462.8 Cr in FY21 from INR 466 Cr in the previous year. Revenue from operations also declined 6.3% to INR 428.2 Cr from INR 457 Cr in FY20.
The Covid-19 restrictions in the pandemic-ridden FY21 could be one of the reasons for the drop in operating revenue. The year saw the government imposing lockdown restrictions. Besides, pubs, bars, and liquor stores were also shut for a large period during the year.
However, lifting of most of the restrictions in FY22 with the effect of the pandemic waning is expected to lead to an increase in the beer maker’s revenue for the year.
Its other income rose to INR 34.6 Cr in FY21 from INR 9 Cr in FY20.
Meanwhile, total expenses also declined to INR 674 Cr from INR 719.6 Cr in FY20. Employee benefit expenses fell 17% to INR 63 Cr from INR 75.8 Cr in FY20.
Employee benefit expenses usually comprise employee salaries, PF contribution, gratuity, and other employee welfare benefits.
Bira 91 spent INR 11.4 Cr on advertisement in FY21, a noticeable drop from INR 40 Cr in FY20. The startup spent INR 260 Cr under ‘other cess taxes’ in FY21, which was also a decline from INR 280 Cr in FY20.
Founded in 2015 by Ankur Jain, Bira 91 has successfully made its name in the crowded beer market in the country. The startup, which is often seen sponsoring events across the country, produces six types of beers. Additionally, it sells three limited flavour beers in the country.
Last year, it raised $30 Mn from Japanese integrated beverages company Kirin Holdings for a less than 10% stake. It was Kirin Holdings’ first investment in the country.
Later, the startup went on to raise $20 Mn in funding in its pre-Series D round, which Inc42 exclusively reported.
Last month, Reuters reported that Bira 91 was in talks with Kirin Holdings for a $70 Mn fund raise. In India, Bira 91 competes against the likes of Carlsberg, SABMiller India, Som Distilleries and Breweries Ltd and Anheuser-Busch Inbev.
Bengaluru-based United Breweries is the largest brewery in India by market share is the Bengaluru-based United Breweries
