The 80 year old Lalit Khaitan, chairman of $380million(revenue) Delhi based liquor company Radico Khaitan, has became the newest billionaire of India with net worth of $1billion. This happened because the company’s shares soared over 50% this year with the launch of new drinks such as Happiness in a Bottle gin, according to the Forbes folks. If we break it down, since Khaitan owns a 40% stake in the company, the estimated net worth of Lalit Khaitan is now $1billion (approx. 7000 crore).
Some of the most famous alcoholic drinks manufactured by the Lalit Khaitan company are 8 PM Whisky, Magic Moments Vodka, Rampur Single Malt and Old Admiral Brandy.
Lalit Khaitan: Crafting a Legacy
Lalit Khaitan, the 80 year old captain steering the ship at Radico Khaitan, a renowned hub for crafting delightful alcoholic beverages. This dynamic company has earned its stripes through the production of favorites such as Magic Moments vodka, the classic 8 PM whiskey, the timeless Old Admiral brandy, and the sophisticated Rampur single malt. It’s not just about drinks; it’s about crafting experiences that resonate with the diverse palates of consumers.
Lalit Khaitan educational journey and his achievements
Lalit Khaitan’s school and college days were pretty fancy. He went to Mayo College in Ajmer and then headed to St Xavier’s College in Kolkata. Later on, he got a Bachelor’s degree in Engineering from BMS College of Engineering in Bangalore. But wait, there’s more, He even did a special course in Managerial Finance & Accounting all the way over in Harvard, USA.
Lalit Khaitan has been recognized with numerous accolades, one of which is the prestigious ‘Lifetime Achievement Award’ bestowed upon him by the UPDA (Uttar Pradesh Distillers Association) in 2017. Additionally, he clinched the ‘Inspirational Lifetime Achievement Award’ at Alcobev 2008, an event organized by the Confederation of Indian Alcoholic Beverage Companies.
Meet India's Newest Billionaire On Forbes List: Liquor Baron Lalit Khaitan #worth #business https://t.co/9veGcxVGZQ
— Indiatimes (@indiatimes) December 13, 2023
Unveiling the Treasury: Radico Khaitan’s Portfolio
In the good old days, Radico Khaitan used to go by the name Rampur Distillery & Chemical Company Ltd. Now, here’s the fun part: Lalit Khaitan’s dad, the legendary GN Khaitan, swooped in and bought the struggling company back in the early ’70s. Fast forward to 1995, and the family torch passed to Lalit Khaitan when his dad, GN Khaitan, decided to divide up the family businesses among his four sons.
Radico Khaitan had humble beginnings as a bottling plant, and later on, it switched to making bulk alcohol. But when things got tough for the business, Lalit Khaitan, along with his son Abhishek, decided to try something different. In the words of the younger Khaitan, as he told Fortune, “We had to either deal with a financial crisis or come up with our own brands. So, we chose to create our own brand.” And that’s how the famous 8 PM whiskey came into the picture, making its debut in August 1998.
Nowadays, Radico Khaitan stands tall as a major player in the Indian Made Foreign Liquor (IMFL) market, making its mark in more than 85 countries worldwide. According to Forbes, the company’s smart move of diversifying its range to encompass premium brands has proven to be a jackpot.
The Revenue Story: Beyond Numbers
It’s not just about the $380 million in revenue, it’s about the global reach, the innovation, and the constant evolution that defines the company’s success. Lalit Khaitan’s net worth of $1 billion is not just a figure, it’s a testament to a lifetime of dedication and entrepreneurial spirit.
Conclusion: A Cheers to Innovation and Passion
It’s not merely a business story, it’s a celebration of innovation, passion, and the indomitable spirit that defines success in the dynamic landscape of India’s alcohol market.
Cheers to the visionary captain and the empire he’s crafted, sip by sip, in the heart of Delhi’s spirited legacy.
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