Medusa Beverages Sets Sights on ₹1,200 Crore Revenue by 2029 with Expansion Drive.

Delhi-based beer company Medusa Beverages is setting ambitious growth targets, aiming to achieve ₹1,200 crore in revenue by 2029. Founded in 2017 and operational since 2018, the company has seen steady growth, with gross revenue increasing from ₹50.4 crore in FY23 to ₹132 crore in FY24. It projects revenues of ₹180 crore in FY25, according to founder and CEO Avneet Singh.

“We have already raised $1.5 million (around ₹13 crore) for market expansion and plan to raise $15 million (₹120 crore) next year. By FY30, we aim to achieve a 4-5% pan-India market share,” Singh stated, adding that the company became EBITDA positive this year.

Product Portfolio and Geographic Reach

Medusa’s product lineup includes Medusa Air (4.5% ABV), the flagship Original Medusa Beer (5.9% ABV), and the recently launched House of Dragons Fire Edition, developed in collaboration with Warner Bros. Discovery Global Consumer Products.

Currently operating in seven states, including Delhi, Punjab, Himachal Pradesh, Chandigarh, Uttar Pradesh, Uttarakhand, and Chhattisgarh, Medusa is preparing to enter Haryana, Assam, and Andhra Pradesh in the coming fiscal year.

“Andhra Pradesh will be our gateway to the South. From there, we can expand into Karnataka or Odisha. Similarly, Assam will help us tap into the Northeast, starting with Arunachal Pradesh and Meghalaya,” Singh explained. The company also plans a pan-India rollout within five years.

Delhi contributes 55% of Medusa’s business, followed by Uttar Pradesh (15%), Punjab (12%), and Chhattisgarh (10%). It has a strong presence in the Horeca segment, with accounts in over 400 establishments, primarily in Delhi and Punjab.

Expansion and Market Strategy

Medusa is poised to launch beer kegs in FY25, targeting a 25% market share in Delhi’s keg segment in the first year before expanding to other states. Internationally, the company is exploring opportunities in Dubai and the UK.

In Delhi’s overall beer market, Medusa holds a 7% share, with a 17% share in mild beer and 20-22% in strong beer cans.

Scaling Production

To meet growing demand, Medusa will double its current production capacity of 2 lakh hectolitres per annum next year. While the company relies on contract manufacturing, it plans to establish its own production facility within two years.

With a combination of aggressive market expansion, innovative product launches, and scaling production, Medusa Beverages is positioning itself as a key player in India’s growing beer industry.

HBL