B9 Beverages, which creates a popular bira beer, is currently going through a serious economic crisis. The company’s income is decreasing and difficulties in repaying the debt have also increased. Retail investors are also not being paid from the Fintech Company named Kredx. Meanwhile, the company has made major changes in its top management.
Returned again old CFO Vikram Kanungo:
The company has again appointed Vikram Kanungo as CFO. He has previously held this post from 2015 to 2019. He replaced Meghna Aggarwal, which was CFO from 2019 to 2024.
New appointment in manufacturing:
Bira 91 has appointed Dr. Manoj Mishra as Vice President – Manufacturing. He has previously worked as a supply chain head in Ball Corporation (India & Sea). His appointment is expected to improve the supply chain to the company.
Sales, brands and other promotions:
Nayanabhiram Dikonda, who has been working for 9 years in the company, has been made SVP -Sales. He will now hold the post of sales head in India, which was vacant from last year. Earlier, Deepak Malhotra was in this post, who joined Inbrew in 2023.
Deepak Sinha, who was the first international business head, has now become SVP -brand and innovation.
Sudir Jain, who is the SVP – is the Chief of Integrated Supply Chain, will now also see the additional charge of Human Resource.
Vandana Sahni has also received promotion. She was earlier a financial planning and analysis head, now she has been made Chief of Staff and Head of Strategy.
Economic condition very weak:
According to the latest data of the company, in FY 2024, the company’s income has fallen by 22% to ₹ 638 crore. At the same time, its deficit has increased by 40.58% to ₹ 749 crore. It was also revealed in May that the company is not able to pay time to Kredx’s retail investors on time.
On this, senior officer Sudir Jain had said that the company has a cash crisis, but the process of raising funds is going on so that the loan can be repaid.
Long list of previous troubles also:
In June last year, there were serious problems in the company’s supply chain. In many major markets, beer was not supplied for months.
According to TracxN data, the company’s valuation is stuck at $ 523 million from October 2021 to April 2024.
Funding interaction from blackrock:
According to reports, the company is now interacting with Blackrock. Blackrock is planning to invest ₹ 500 crore in the promoter group of Bira 91.
Summary :
Overall, B9 beverages are currently in a very difficult period. The company is making major changes in its leadership amidst constantly falling income, increasing deficit and cash crisis to handle the situation. Now everyone will keep an eye on how much relief these new decisions can provide the company.
