India’s liquor market is undergoing a wave of premiumisation. Consumers are steadily moving up the value chain, from economy to mid and premium segments, driven by rising disposable incomes, brand consciousness, and evolving social trends.

The result is a clear divergence between volume and value growth. According to Radico Khaitan ‘s FY25 annual report, the Indian-made foreign liquor (IMFL) industry is projected to grow at a 5% CAGR in volume

and 14.8% CAGR in value during FY25 and FY29.

This highlights how premiumisation and pricing power are reshaping growth across the sector.

Against this backdrop, we examined the industry’s fastest-growing names to identify who’s leading the charge. The following list, based on the Equitymaster screener, highlights five liquor companies with

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