This diversification is part of the company's new strategy to have a diversified portfolio of products catering to different market segments.

Speaking to The Financial Express, a senior official of the company said, "We want to increase our portfolio of products. A wider range of products has become essential in the current market scenario. Hence, the decision to foray into the beer market which looks very promising." After carefully observing the market we have reached the decision that Radico Khaitan has to enter the beer market by next summer added the official.

The official said, almost every major player has a presence in the beer market and the beer market has ample room for more players.' Our brand of beer promises to be different from the rest he added.

The company is now planning to acquire a brewery in the northern sector of the country. It has already started scouting the market for possible acquisitions.

To begin with the company will introduce its brand of beer in the northern belt before the next summer. Later it will be launched in the western and southern markets.

But expansion to the other markets will be a few months after it is launched in the northern segment and the beer brand is established.

The official said, "Once our brand of beer is established in the northern market, we will either set up or acquire another brewery to cater to the other markets in the western and southern part of the country."

As part of its market expansion plan, Radico Khaitan will be launching another new brand of blended whisky in the premium segment. Currently, the company has one brand of whisky under the brand name 8 PM.

It also has a presence in the rum market with the Contessa brand.The company also has a presence in the scotch market through its joint venture company Whyte and Mackay.

Whyte and Mackay manufactures Findlaters Scotch Whisky. Other brands that are available under the White and Mackay brand are Whytehall, Genesis and Royal Peg - all brands of premium whisky. It recently phased out its premium brand of scotch - Whyte and Mackay 15-year old Scotch, as it was not faring well in the Indian market.