NAO Spirits, the maker of Greater Than and Hapusa gins, saw its momentum reverse in FY25. After posting 2.45X revenue growth in FY24, its revenue dipped by over 25% in FY25, while its losses also doubled during the year.
Nao Spirits’ gross revenue declined by 25.6% to Rs 60.46 crore in FY25 from Rs 81.26 crore in FY24, its consolidated annual financial statements sourced from the Registrar of Companies (RoC) shows.
/filters:format(webp)/entrackr/media/media_files/2025/12/09/nao-financial-01-2025-12-09-17-16-31.png)
Founded in 2015 by Anand Virmani, Abhinav Rajput, Aparajita Ninan, and Vaibhav Singh, Nao Spirits is an India-based craft distillery known…

![[CITYPNG.COM]White Google Play PlayStore Logo – 1500×1500](https://startupnews.fyi/wp-content/uploads/2025/08/CITYPNG.COMWhite-Google-Play-PlayStore-Logo-1500x1500-1-630x630.png)