Key facts
- Pernod Ricard reported Q1 sales of 2.234 billion euros.
- The company is taking preparatory steps toward a potential IPO in India.
- The decision to proceed with an IPO remains subject to board approval.
Pernod Ricard, the world's second-largest spirits maker, reported a 0.9% drop in sales for the first quarter of its 2027 fiscal year, falling to 2.234 billion euros. This was better than the estimated 1.7% decline, as strong demand in India, which saw sales rise 19%, offset significant drops in the United States (-10%) and China (-25%). The company reiterated its forecast for broadly stable net sales in the current fiscal year and its expectation for sales growth at the lower end of its 3% to 6% target range through 2029, citing a prolonged downturn in the global spirits market. Pernod Ricard is also taking preparatory steps for a potential initial public offering in India, though the decision remains subject to board approval.