Pincon Spirit Limited
Indian alcoholic-beverage manufacturer and distributor producing spirits, country liquor, industrial alcohol and related consumer goods.
Last updated August 26, 2026
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History
Pincon Spirit Limited was incorporated in 1978 in Calcutta, West Bengal, as Sarang Viniyog Limited. The company issued equity shares and was listed on the Calcutta Stock Exchange during its first year. Its early corporate identity was not yet centered on the Pincon consumer brand; the business later evolved through acquisitions, investments and agreements connected with alcoholic-beverage manufacturing and distribution. In 2004, Jevan Equipments & Spares and Plant Dealers Limited was acquired and merged into the company. During the 2000s, Sarang Viniyog also continued acquiring interests in Paul Distributors Private Limited, Priya Laboratories Limited and Yours Laboratories Pvt Ltd. These businesses were grouped within the PSL Group, supporting the company's move toward a broader manufacturing and distribution structure. In 2009, the company entered into an agreement with National Industrial Corporation to manufacture Indian-made foreign liquor. The first products associated with this arrangement included Pincon XXX Rum and Pincon No. 1 Whisky. In August 2011, Sarang Viniyog Limited adopted the name Pincon Spirit Limited, aligning the corporate name more closely with its principal consumer-facing business. That year it introduced King's Coin Whisky and Pincon King's Coin Vodka. Ruby Gold XO Brandy and Royal Pride Whisky followed in 2012. The company expanded its brand and distribution presence in 2013. It introduced Highland Blue Whisky, obtained sole distribution rights for Fashion Vodka in West Bengal and registered its brand with beverage authorities or state governments connected with Odisha, Uttarakhand and Jharkhand. The business subsequently broadened beyond conventional IMFL. In 2014, after acquiring a country-spirit plant from National Industrial Corporation Limited, it began producing Pincon Bangla No. 1. In 2015, it added Pincon Ultra Force XXX Jamaican Rum and Ruby Gold Orange Flavour Gin. Pincon Spirit's stated activities included manufacturing, bottling and distributing IMFL and country spirits, as well as refining, packaging and wholesaling selected fast-moving consumer goods. Its manufacturing network was described as having eight West Bengal locations: Agarpara, Bishnupur, Gopalpur, BT Road, Kanyapur, Dankuni, Belda and Baranagar. The company also described plans to expand production in Karnataka, Odisha, Jharkhand, Uttarakhand and northeastern India. Expansion continued through corporate transactions. In 2016, Pincon Spirit acquired Bacchus Enterprises Limited, which operated in the IMIL and IMFL sectors in Ludhiana. The same year, the company acquired Singapore-based Orbitol Solutions to support exports of its brands to Southeast Asian markets. In 2017, it announced a proposed capital-expenditure programme intended to fund new facilities and capacity expansion. The company's trajectory was disrupted in November 2017, when Monoranjan Roy, its chairman and managing director, was arrested in relation to allegations surrounding a Ponzi scheme. The allegations included claims that public money had been diverted and that the company was left with significant debt. The supplied reference does not provide sufficient information to determine the final legal outcome, subsequent restructuring, or current operating condition of Pincon Spirit Limited.
- 2017
Arrest of chairman and managing director
[1]Monoranjan Roy was arrested in connection with allegations involving a Ponzi scheme and alleged diversion of public money.
- 2016
Bacchus Enterprises acquisition
[1]Pincon Spirit acquired Bacchus Enterprises, adding IMIL and IMFL operations in Ludhiana.
- 2014
Entry into country-liquor manufacturing
[1]The company began making Pincon Bangla No. 1 after acquiring a country-spirit plant.
- 2011
Corporate name change
[1]Sarang Viniyog Limited was renamed Pincon Spirit Limited and launched King's Coin Whisky and Pincon King's Coin Vodka.
- 2009
Agreement for IMFL production
[1]The company entered an agreement with National Industrial Corporation to manufacture IMFL under Pincon XXX Rum and Pincon No. 1 Whisky.
- 2004
Acquisition and merger of Jevan Equipments & Spares
[1]Jevan Equipments & Spares and Plant Dealers Limited was acquired and merged into the company.
- 1978
Incorporation as Sarang Viniyog Limited
[1]The company was incorporated in Calcutta, West Bengal, and listed on the Calcutta Stock Exchange.
Products and positioning
A regional Indian spirits and alcoholic-beverage producer combining IMFL, country liquor and industrial-alcohol operations with bottling, distribution and selected consumer-goods activities.
Rum · 2009
Pincon XXX Rum
An early Pincon-branded IMFL rum introduced through the company's 2009 manufacturing arrangement with National Industrial Corporation.
Whisky · 2009
Pincon No. 1 Whisky
A Pincon whisky manufactured under the company's initial IMFL production agreement and positioned as one of its foundational branded spirits.
Whisky · 2011
King's Coin Whisky
A whisky introduced as part of the company's expansion of its branded spirits portfolio.
Vodka · 2011
Pincon King's Coin Vodka
A vodka launched alongside King's Coin Whisky during the company's 2011 product expansion.
Brandy · 2012
Ruby Gold XO Brandy
A branded brandy added to the Pincon portfolio in 2012.
Whisky · 2012
Royal Pride Whisky
A whisky introduced in 2012 as the company broadened its range of Indian spirits.
Whisky · 2013
Highland Blue Whisky
A whisky launched in 2013 under a new brand name as Pincon Spirit continued developing its regional portfolio.
Country liquor · 2014
Pincon Bangla No. 1
A country-liquor product introduced after the company acquired a country-spirit manufacturing plant.
Rum · 2015
Pincon Ultra Force XXX Jamaican Rum
A rum product launched in 2015 as part of the company's continued expansion in branded spirits.
Gin · 2015
Ruby Gold Orange Flavour Gin
An orange-flavoured gin introduced in 2015.
Controversies
2017
Ponzi-scheme allegations and executive arrest
Chairman and managing director Monoranjan Roy was arrested on 2 November 2017 in a case involving allegations that public money had been siphoned from the company, leaving it heavily indebted. The supplied reference does not establish the final legal disposition.
Brand decisions
2016
Acquire Bacchus EnterprisesM&ABackground
Pincon Spirit was expanding its presence in Indian-made Indian liquor and Indian-made foreign liquor.
Action taken
The company acquired Bacchus Enterprises Limited in Ludhiana.
Aftermath
The transaction added IMIL and IMFL activities in northern India.
2016
Acquire Orbitol SolutionsM&ABackground
The company identified Southeast Asia as a potential destination for its alcoholic-beverage brands.
Action taken
Pincon Spirit acquired Singapore-based Orbitol Solutions to support export activity.
Aftermath
The group stated that the acquisition would help it market its brands in Southeast Asian markets.
2014
Expand into country liquorStrategyBackground
The company sought to broaden its alcoholic-beverage manufacturing activities beyond IMFL.
Action taken
It acquired a country-spirit plant and began manufacturing Pincon Bangla No. 1.
Aftermath
Country liquor became part of the company's reported product and operating scope.
2011
Adopt the Pincon Spirit corporate identityStrategyBackground
The company had begun developing and manufacturing branded IMFL products under the Pincon name.
Action taken
Sarang Viniyog Limited changed its name to Pincon Spirit Limited.
Aftermath
The corporate name became aligned with the company's consumer-facing spirits portfolio.
Recent events
- 2016
Pincon Spirit acquires Bacchus Enterprises[1]
M&A
The acquisition added a Ludhiana-based IMIL and IMFL business to the group.
- 2014
Pincon Spirit enters country-liquor production[1]
Product launch
Following the acquisition of a country-spirit plant, the company began manufacturing Pincon Bangla No. 1.
- 2012
Pincon Spirit expands its branded spirits portfolio[1]
Product launch
The company introduced Ruby Gold XO Brandy and Royal Pride Whisky after earlier launches including King's Coin Whisky and Pincon King's Coin Vodka.
- 2011
Sarang Viniyog Limited changes its name to Pincon Spirit Limited[1]
Other
The company adopted the Pincon Spirit Limited name as it developed its branded alcoholic-beverage business.
Sources1 sources
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