Lahori Zeera has emerged as one of India’s fastest-growing independent beverage companies, surpassing Rs 300 crore in revenue during FY24. The Rupnagar, Punjab-based company’s profit tripled in the last fiscal year. On a year-on-year basis, Lahori’s revenue from operations grew 47.2% to Rs 312 crore in FY24 from Rs 212 crore in FY23, as per its consolidated financial statements accessed from the Registrar of Companies (RoC). The company generates revenue from beverage sales, including Lahori Zeera, Lahori Nimboo, and Lahori Shikanji, with a small contribution from scrap sales and other non-operating income (gains from investment sales), totaling Rs 313.5 crore in the last fiscal. Procurement was the largest cost center for the beverage manufacturer, accounting for 66% of total expenses. As the company scaled, this cost increased by 35.3%, rising from Rs 136 crore in FY23 to Rs 184 crore in FY24. Employee benefit expenses grew significantly, increasing by 68.8% year-on-year to Rs 27 crore in the same period. Expenses related to rent, freight, subcontracting, legal fees, and other overheads contributed to a 36.9% rise in total expenditure, which grew from Rs 203 crore in FY23 to Rs 278 crore in FY24. Lahori Zeera’s profits tripled to Rs 22.5 crore in FY24, up from Rs 7.6 crore in FY23, driven by a 47% revenue surge and controlled costs. The company spent Rs 0.89 to earn a rupee during the year. Its ROCE and EBITDA margins stood at 15.36% and 13.65%, respectively. By the end of FY24, total current assets stood at Rs 76 crore, including Rs 38 crore in cash and bank balances. Lahori Zeera’s CEO, Saurabh Munjal, aims for Rs 500 crore in revenue for the current fiscal year and is reportedly in advanced discussions with Motilal Oswal to raise Rs 400-450 crore. The success of Lahori Zeera is particularly notable in a market dominated by billion-dollar competitors like Pepsi, Coke, and now Reliance. The brand’s growth has been bolstered by a strong advertising campaign and expanded distribution. However, there is concern about maintaining the brand’s essence as it scales, especially in light of investor-driven pressures.
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