Prashant Jain Buys Som Distilleries Stake as Stock Hits 52-Week Low

Som Distilleries is spending about ₹600 crore on a large integrated brewery and distillery in Uttar Pradesh, one of India's biggest alcohol-consuming states. The project has entered trial production, with commercial operations expected after testing is complete. Arora said Uttar Pradesh could become one of the company's most important markets over the medium term.

Management is also pushing deeper into premium products. The beer brand Woodpecker was recently named India's Leading Brand – Rising Star 2025. The premium beer Mahavat, launched in Madhya Pradesh and Delhi, is being extended into whisky. Mahavat Whisky is priced at ₹1,000–1,100 a bottle, targeting the fast-growing premium segment. The company described the whisky as offering a "smooth, refined taste" with a distinct Indian character. Initial distribution began in Bhopal and has expanded to Madhya Pradesh, Delhi and Uttar Pradesh.

Premiumisation is driving faster growth than the mass market in India's alcoholic beverage industry, and Mahavat is central to Som's strategy. The whisky launch diversifies the brand beyond beer into higher-margin spirits.

Still, the immediate risks are real. Any further delay in the Uttar Pradesh plant or extended softness in demand could keep earnings under pressure for the next few quarters. The stock remains a high-risk turnaround play. Jain's bet signals confidence that the market is discounting temporary headwinds and underestimating the earnings lift once the new capacity comes online. Khanna's exit suggests some investors prefer to wait for operational recovery before turning positive.

The next catalyst is the commissioning of the Uttar Pradesh facility. If it starts on schedule and demand normalizes in key markets, the company could be well positioned for a recovery over the next few years. For now, the stock's fate hinges on execution over the coming quarters.