Following are key highlights

The company's consolidated net sales for Q1 inclined by 19% to Rs 214 crore due to other operating income of Rs 50.2 crore which is VAT refund. The net profit was up by 79% to Rs 30.89 crore.

The company's volume declined by 19% to 3 mn cases. The decline was due to a sharp drop in sales in Tamil Nadu on account of constraints faced on bottling, state bifurcation of Andhra Pradesh and Telangana and focus on premium products to support margins in an inflationary environment.

Net sales have declined at a lower rate as compared to volumes, due to higher realizations arising from higher focus on premium and semi-premium brands versus the regular segment

The sales of brandy in Tamil Nadu was impacted by bottling constraints in Tamil Nadu and the bifurcation of Andhra Pradesh.

For Q1. Brandy volume de-grew by 20% to 1.5 mn cases, Whisky de-grew by 17% to 0.89 mn cases and Rum by 21% to 0.7 mn cases, while Vodka & Gin grew by 20% to 0.06 mn cases.

In the whisky segment, premium brands like Senate Royale and Mansion House Whisky gained traction during the quarter.

In the rum category, in line with its strategy on premiumization, the company has curtailed exposure to its brand Madiraa Rum and invested resources on its premium brand: White House Rum.

The company also focused on scaling up vodka and gin as a category. It also extended its premium brand Classic Vodka to Kerala

The mgmt said that in Andhra Pradesh and Telangana, the volumes are trending towards normalization, which continues to be high-growth markets for the company.

In Orissa and CSD, the company has taken price hike of 6-10%. In coming months, it expects price hike in state of Kerala, Tamil Nadu and Andhra Pradesh.

ENA cost for the company in the quarter was Rs 42-43/litre. It is expected to go up by 7-8%.

The mgmt said that industry is facing a difficult task on growth front, especially at volume level. Industry for this year has not grown by even 2%. The largest player in industry after takeover, is concentrating more on premium and semi premium brands. As such, it will have impact on whole industry. Going forward, the mgmt said that fortunes of the industry will come from margin and not from volume, as working capital is high for the industry. Overall volume for the industry is expected to remain flat, but premium brand will see good growth in FY15

The debt for the company is around Rs 835 crore.

There will be only maintenance capex of Rs 20-25 crore for the year. The company has done most of the capex to increase the capacity.