Meet Vijay Mallya's Old Rival, Built Rs 33000 Crore Empire, He Is One Of India's Oldest...

Radico’s market value has grown significantly—from just Rs 5 crore to more than Rs 5,000 crore, scroll down for more details.

Meet Vijay Mallya Rival

India is the third-largest consumer of alcoholic beverages globally, with an annual consumption of around 970 crore litres. The industry is estimated to be worth Rs 4.5 lakh crore. In 2020-21 alone, India exported alcoholic products valued at Rs 2,386.91 crore.

Lalit Khaitan, chairman of Radico Khaitan, had officially entered the billionaire club, according to Forbes in 2023. His net worth has touched $1 billion following a surge of over 50% in the company’s share price this year. Khaitan owns a 40% stake in the Delhi-based liquor company, which is known for its popular alcoholic beverage brands. Holding a 40% stake in the company, Lalit Khaitan's net worth is pegged at around $1.1 billion. As of July 2, 2024, Radico Khaitan had a market capitalisation of nearly Rs 23,700 crore, which has now surged to approximately Rs 33,000 crore.

Rise of Radico Khaitan

Radico Khaitan, originally called Rampur Distillery & Chemical Company Ltd., was acquired by his father, GN Khaitan, in the early 1970s. Lalit Khaitan took over the business in 1995 during the family’s division of assets. In a 2020 interview with Fortune, he said his passion for the liquor industry began early in life. Under his leadership, Radico’s market value has grown significantly—from just Rs 5 crore to more than Rs 5,000 crore.

Competition with Vijay Mallya

Lalit Khaitan faced a tough journey in transforming Radico Khaitan into a major force in India’s liquor industry, especially with strong competition from established names like Vijay Mallya’s United Spirits, Stilldistilling Spirits India, Maka Zai, and Third Eye Distillery Holdings.

Lalit khaitan education

Lalit Khaitan studied at some of the country’s top institutions, including Mayo College in Ajmer, St. Xavier’s College in Kolkata, and BMS College of Engineering in Bangalore. He also enhanced his financial knowledge by completing a course in Managerial Finance and Accounting from Harvard University in the United States.