1 week ago
Carlsberg India Reports Strong Growth as IPO Process Advances
Carlsberg is a beer company that sells its brands in India.
Its Indian business sold much more beer in the first half of 2026.
Sales grew especially quickly during the second quarter.
The Carlsberg and Tuborg brands helped lead this growth.
A newer beer called 1664 Blanc also grew as it became available in more places.
Carlsberg India is preparing to sell shares to the public through an IPO.
It took a step toward that goal by privately submitting an early IPO document to India’s market regulator.
Carlsberg’s wider regional business also grew, although currency changes made its reported revenue growth smaller.
Carlsberg India recorded mid-teens percentage volume growth in the first half of 2026, with faster growth in the second quarter.
Carlsberg and Tuborg were the main drivers of the Indian business’s volume gains.
The 1664 Blanc beer brand grew strongly from a low base as Carlsberg expanded its Indian distribution network.
Carlsberg India confidentially pre-filed a Draft Red Herring Prospectus with India’s market regulator in July for a proposed IPO.
Carlsberg’s CEE & India segment posted 6.2% organic volume growth, while currency movements reduced reported revenue growth to 5.7%.
- Who
- Carlsberg India, the Indian business of Carlsberg Group, and its CEO Jacob Aarup-Andersen.
- What
- Carlsberg India reported strong first-half volume growth and advanced preparations for a proposed initial public offering.
- Where
- India, within Carlsberg’s Central & Eastern Europe and India reporting segment.
- When
- During the first half of 2026; growth accelerated in the April-June second quarter, and the IPO document was pre-filed in July.
- Why
- Growth was driven by the Carlsberg and Tuborg brands, while expanded distribution supported 1664 Blanc; the company is also progressing toward a planned India listing.
Key facts
- India volume growth
- Mid-teens percentage growth in the first half of 2026.
- Growth drivers
- Carlsberg and Tuborg brands led the Indian volume gains.
- Premium brand
- 1664 Blanc grew strongly from a low base after its 2024 India launch.
- IPO progress
- Carlsberg India pre-filed a Draft Red Herring Prospectus with Indian authorities in July.
- CEE & India organic volume growth
- 6.2% in the first half of 2026.
- CEE & India organic revenue growth
- 9.2%, supported by price increases and product mix.
- Reported segment revenue growth
- 5.7%, affected mainly by adverse movements in the Indian rupee and Ukrainian hryvnia.
Quotes
Jacob Aarup-Andersen
Carlsberg Group chief executive officer
“The work on the IPO continues, and as you may have seen, Carlsberg India in July filed a so-called pre-filed Draft Red Herring Prospectus with the Indian authorities... We cannot provide further comments on the India performance or the process following the filing”
telegraphindia.com
“In India, the very positive trajectory continued. Our business delivered mid-teens percentage volume growth in the first half, with an acceleration in Q2 compared to Q1. Growth was driven by both Carlsberg and Tuborg.”
telegraphindia.com
Sources
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