Peter Christopher
peter.christopher@guardian.co.tt
Senior Multimedia Reporter
Carib beer, which is part of the ANSA McAL group, is officially on sale in India.
ANSA McAL Group CEO, Anthony Sabga III, disclosed yesterday that Carib officially went to market in the subcontinent this week.
“Not only is it in the works, the brand and manufacturing team just returned from Uttar Pradesh about a week ago, and the first production of commercially available new Carib has been released,” said Sabga, at the release of the group’s financial results for the quarter ended March 31 2025, at Samaan Estate, St Clair yesterday.
“So our partner in that market, the Globus beverage organisation, is working with us in a joint venture and we have begun marketing Carib in India,” he said.
In April last year, the group announced the partnership with Globus Spirits Ltd, aiming to bring the local beer to India, based on interest in the brand as a result of West Indies cricket.
The ANSA McAl CEO said the beer had only hit shelves this week, but there was already good feedback.
“That release literally happened days ago. So, we’ve just started selling that product in India. The quality team report that we have a fantastic brew and that we expect to do phenomenally well with in India.”
ANSA McAL’s revenue increased 10 per cent to $1.80 billion year-over-year for the first three months of its 2025 financial year. The group’s profit before tax stood at $93 million for the three months ended March 31, 2025, a 46 per cent decline compared to the prior year and its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 6 per cent to $278 million.
“These results, whilst not the type of results that we are accustomed to here at ANSA McAL, are certainly not results that we are discouraged by,” said Sabga, who explained that the company has to do some adjustments to its approach with its recent investment in the US of Bleachtech, due to unforeseen weather challenges. The company was acquired by ANSA McAl in November 2024.
“Apart from the plant and the pipes in the plant freezing, we realised that you cannot treat ice the way you treat water. So we ended up in a very muted market, and so our plant had some challenges,” Sabga said.
“What that afforded us was an opportunity to bring forward some of the much-needed interventions and some of the much-needed repair work for the plant and equipment. We bought an operating business that was operating at sub-44 per cent efficiency. I’m happy to report that the team has done quite a bit of work and the reliability and operating efficiencies of the plant are north of 60 per cent and trending upwards.”
Sabga also stated there was a softening in the economy in the first quarter ahead of the election. He also expressed some concern that the Trinidad and Tobago Stock Exchange had not created the level of returns that may have been expected.
“We remain very committed to the endeavour and to the investment opportunity, the investment climate and possibilities that remain available to us and also the realignment of further investment in the future growth of the organisation. This comes from us recognizing that the Trinidad and Tobago stock market really has not delivered the type of wealth creation returns over the last 10 years. That’s something we feel that as an organisation we can fundamentally intervene, “ he said.
Sabga said the group’s way of operating previously was preservation and providing a passive yield. But, he noted, that the dynamic of its business has changed fundamentally and it is now seeking to make substantial reinvestments into ANSA McAL’s companies.
“Diversion of the dividend is one example of such, which we expect to lead to substantial appreciation of value and chasing active and ongoing growth.”