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Data is not available for this company
Millennium Beer Industries Limited (MBIL), formerly known as Inertia Industries Limited was incorporated in the year 1989 and promoted by Sunil Kumar Tandon and his associates, Ashok Tandon and Sanjay Tandon. The name of the company was subsequently changed to Millennium Beer Industries Limited on March 16, 2005.
MBIL was granted the brewing license by the government in the year 1992. In 1993, the company set up its first brewery in the state of Haryana with an initial capacity of 150000
MBIL was granted the brewing license by the government in the year 1992. In 1993, the company set up its first brewery in the state of Haryana with an initial capacity of 150000 hectoliters (HL). The company launched its brands -- Sand Piper, Turbo & Golden Glow. In a short span of time, the brands Sand Piper and Turbo picked up reasonable shares in select markets. The brand Sand Piper is now recognized internationally.
Within a span of three years the company became a premium beer manufacturer and captured a substantial share in the Indian beer market. The company expanded its capacity from 150000 HL to 500000 HL.
The plant of MBIL was running well up to August 1996, and the company was earning profits. The performance was well above the break even level and the products were well received by the customers. The plant had to be shut down due to promulgation of prohibition in the state of Haryana, banning manufacture and sale of beer in the state w.e.f. September 5, 1996. Foreseeing the crisis the debtors of MBIL stopped payments and the inflow of funds was severely affected. On the other hand, the creditors pressurized MBIL for payments. This resulted in financial crunch and MBIL had to face several court cases including recovery and winding up cases. MBIL also lost is market reputation and consequently market share.
MBIL could not withstand the huge losses suffered as a result of stopping of production due to ban on manufacture and sale of beer in Haryana, and MBIL became a sick industrial company within the meaning of section 3(1)(o) of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).
In the year 2001 the UB Group acquired a substantial equity stake in the company and for revival of the company invested substantially into the company. The company is now controlled and managed by UB Group. In the year 2004, the name of the company was changed from Inertia Industries Limited to Millennium Beer Industries Limited.
Consequent upon change in management of the company, the board of directors of the company now comprises eminent persons from the beer industry with substantial professional expertise.
Millennium Alcobev Private Limited (MAPL) holds 77.79% equity shares of the company and thus the company is a subsidiary of MAPL.
The equity shares of Millennium Beer Industries Limited are listed on the Stock Exchanges at Mumbai, Delhi, Jaipur, Kolkata and Ahmedabad.
The companyâ€™s brands command a market share of 10% and are set to make further in roads into the indian beer industry.
Product range of the company include:
The company sells its products under two brands-
1. Sand Piper - It is a refreshing mild beer for the free spirited male. The essence of the Sand Piper Brand is naughty, â€˜Flirtatious Funâ€™. Sand Piperâ€™s attractive packaging gives it an international, premium look. The brand is sold across different markets in the country. The brand is available in 330 ml as well as 650 ml pack sizes. Sand Piper has recorded a volume of about 1.7 million cases for FY 04-05 with a 2% share of the Indian beer market.
2. Zingaro - It is a premium strong beer aimed at quenching the thirst of the lion hearted male. With a powerful line â€œBhujaye Sheron Ki Pyaasâ€ Zingaro has emerged as a significant player in the strong beer segment of the Indian beer market. The brand is available in 330 ml as well as 650 ml pack sizes. Zingaro outpacing industry growth has recorded a volume of about 3.0 million cases for FY 0405. Zingaro has a 3% share of the Indian Beer Market.
Sand Piper was awarded with the â€œPremium Beer Awardâ€ in INDSPIRIT 1995, Mumbai.