Last Updated:June 11, 2025, 09:47 IST
GM Breweries share price surged nearly 14% after the Maharashtra government announced a hike in excise duties on liquor; Know details
Maharashtra unveiled a revamped liquor policy which includes significant hikes in excise duties.
GM Breweries emerged as the top gainer, with its share price surging nearly 14% after the Maharashtra government announced a hike in excise duties on liquor. Sula Vineyards Ltd. also saw gains, rising nearly 2%.
The new excise duty hike covers both retail purchases from liquor stores and alcohol consumed in restaurants and bars, making liquor costlier across the state.
However, beer and wine have been excluded from the excise duty hike. Beer was exempted due to its lower alcohol content compared to hard liquor, while the wine exemption aligns with the state’s policy of supporting the wine industry—especially since a significant portion of the country’s wineries are based in Maharashtra, alongside grape-growing farmers who supply these wineries, according to an HT report.
The state cabinet, led by Chief Minister Devendra Fadnavis, approved measures on Tuesday aimed at boosting the revenue of the Excise Department, with expectations of increasing the department’s annual revenue by approximately Rs 14,000 crore. Premium foreign liquor brands have seen the steepest increase, with the new minimum retail price set at Rs 360.
The excise duty on Indian-made foreign liquor, with a declared manufacturing value of up to Rs 260 per bulk litre, will rise from three times to 4.5 times the manufacturing cost.
Additionally, the excise duty on country liquor will increase from Rs 180 to Rs 205 per proof litre.
However, liquor stocks, including United Breweries, United Spirits, and Allied Blenders, fell up to 6% following the announcement.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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