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Led by MD and CEO Hina Nagarajan, its whisky brands have outpaced many of French rival Pernod Ricard’s for the first time in several years.

Slowing growth, weakening store metrics and a puzzling fundraise point to the retailer losing some of its post-Zudio sheen.
The country’s largest liquor company just announced solid Q3 numbers. It has a product portfolio its peers envy. Its advertising budget is the largest. Yet, it’s the worst performing liquor stock.
How well rural consumption is doing is subjective. What isn’t subjective is how growing indebtedness, combined with stagnant income growth, is creating a tinderbox for households, banks and consumer companies that no one is talking about.