B9 Beverages maker of Bira has received tax notices for more than ₹26 crore from the Maharashtra government
The beer brand is struggling to make payments to its vendors and employees amid mounting losses and shrinking revenues 🧐
as per news reports the company owes about ₹700 crore in vendors payments and taxes to various states
Its revenue from operations in FY24 fell to to ₹638.5 crore, declining from ₹824.3 crore in FY23.
Its losses surged to ₹748.8 crore, from ₹445.4 crore in FY23.
Reason for poor performance?
The company said its revenue was dented due to the corporate name change, which required reapplying for licences and re-registering products across 27 states, causing delays during peak sales months.
Really? That’s your excuse?
If you are running a beer company for a decade and still don’t understand the process of a name change and label re-registrations- the joke is on you 😡
Wait. That’s not all.
Despite the financial turmoil, Bira 91 is planning its initial public offering (IPO) in 2026 😤
You’ve got to be kidding me Bira 91.
Looks like you’re drinking your own Kool-Aid.
err… I meant… drinking your own beer 🍺
