Amar Sinha, chief operating officer at Radico Khaitan, has stepped down, ending an almost decade-long stint at the spirits maker as the company shuffled its leadership.
“My exit is purely my decision after having contributed to a spectacular growth trajectory of the organization for about a decade,” Sinha told Mint. “When I took charge of the company, its market cap was ₹1,600 crore and has since gone to about ₹40,000 crore. I'm evaluating several opportunities within the industry and will be soon batting another innings.”
The leadership changes are in line with its strategic priorities of premiumization, global brand building, and future readiness, Radico Khaitan said in a filing to the stock exchanges on Friday.
The company elevated long-time executives Sudhir Upadhyay as chief sales officer and Kunal Madan as chief marketing officer. Both have spent over a decade at the company, reflecting Radico’s focus on developing next-generation leadership.
The core leadership team under managing director Abhishek Khaitan now comprises chief financial officer Dilip Banthiya and Sanjeev Banga, president – international business. It will be supported by Upadhyay, Madan and Saket Somani, head – finance & strategy, the company said.
Radico Khaitan said Sinha is stepping down as part of the company’s ongoing leadership evolution and role transitions. It said Sinha had played a key role across multiple growth phases and brand initiatives during his tenure.
Radico also highlighted recent additions such as Ajay Kakkar, who joined last year to lead the premium on-trade vertical, as it seeks to strengthen distribution and accelerate premium growth. The company said the leadership changes are aimed at ensuring continuity while sharpening execution for its next phase of expansion.
Sharper focus
Sinha had confirmed his resignation to Mint earlier in the day.
Sinha’s departure comes after a period during which Radico sharpened its focus on premium brands and marketing-led growth, moving away from its earlier volume-first approach. When Sinha joined the company, India’s alco-beverage market was driven largely by scale and distribution.
Radico Khaitan is among India’s largest local alco-beverage companies, with a market capitalization of over ₹37,075 crore (as of 12 February) and a portfolio spanning mass and premium spirits.
Over the past few years, the company has increasingly focused on higher-value brands as part of a broader premiumization push. The company repositioned itself towards higher-value offerings, with premiumization becoming central to its strategy.
Sinha said he will share details of his next professional move in due course.
"In the next few days, I will be taking a decision as to what my next steps will be," he said.
Premium push
People familiar with the matter said the move was planned. Sinha's core mandate when he joined was to strengthen brand-building and push for more premium spirits. He helped Radico reshape its portfolio and place greater emphasis on marketing, innovation and brand positioning.
Sinha has more than three decades of experience across the alco-bev and consumer sectors. He began his career in 1983 as a management trainee at liquor manufacturer Shaw Wallace Distilleries and later served as managing director and chief executive officer. He has held senior roles at Whyte & Mackay India, Zee Group’s Playwin Gaming, Golden Tobacco, SmithKline Beecham and Herbertsons of the UB Group.
Radico has not announced succession plans or interim leadership arrangements yet. In its most recent Q3 results, managing director Abhishek Khaitan said the Indian spirits sector continued to build strong momentum, led by premiumization and evolving consumer aspirations.
"We have converted these structural tailwinds into our highest-ever quarterly performance with volumes of 9.75 million cases, net revenue of ₹1,547 crore, and Ebitda of ₹265 crore.