Delhi, In a remarkable feat, 80-year-old Lalit Khaitan, the Chairman of Radico Khaitan, has joined India’s billionaire club, riding on the success of his company in the thriving liquor market. Forbes reports that Radico Khaitan, with a revenue of $380 million, has emerged as a key player in the industry, witnessing a 50% surge in its publicly traded shares this year.
Khaitan’s net worth is estimated at $1 billion, primarily from his 40% stake in the company. The surge is attributed to increased sales and the introduction of new beverages, including the popular “Happiness in a Bottle” gin.
Radico Khaitan, founded as Rampur Distillery in 1943, boasts a rich history and is among the oldest and largest manufacturers of Indian Made Foreign Liquor (IMFL) in India. Lalit Khaitan took charge in 1995, transforming the company, currently overseen by his son Abhishek Khaitan, into a liquor industry leader.
Khaitan’s journey began in 1997 when he led the marketing division at Radico Khaitan Limited. His inaugural brand, 8PM Whisky, achieved remarkable success, selling one million cases in its first year and earning a place in the Limca Book of World Records.
Who is Lalit Khaitan | 5 Points:
1. Kolkata-born Lalit Khaitan, educated at Mayo College and St. Xavier’s College, inherited Radico Khaitan Limited, then a modest liquor business.
2. He successfully transformed Radico from a bottler to a leading IMFL player in India.
3. As chairman and managing director, he provides strategic direction, focusing on improving quality standards and customer satisfaction.
4. Under his leadership, the company has experienced significant revenue growth and increased market shares.
5. Dr. Khaitan’s contributions were recognized with several professional awards, including the prestigious ‘Lifetime Achievement Award’ from UP Distillers Association in December 2017.
