Radico Khaitan Limited (RADICO), manufacturer of alcoholic beverages, reported unaudited financial results for Q3 2026 ended December 31, 2025. The company delivered broad growth in revenue, volume, and profitability year-over-year.
Q3 2026 Financial Performance
Consolidated revenue from operations increased 22.1% sequentially to ₹5,423.8 crore. Net revenue from operations rose 19.5% to ₹1,546.7 crore. Profit after tax (PAT) increased by approximately 61% to ₹155.1 crore. Basic earnings per share stood at ₹11.59. EBITDA grew 44.9% to ₹265.4 crore with corresponding margin of 17.2%. Profit before tax grew 59% to ₹206.6 crore. Gross profit increased 29.2% with margin improvement to 46.5%.
Total expenses increased consistent with higher volumes and operational activity. Net debt reduced to ₹365.0 crore, reflecting a reduction of ₹208.5 crore since March 2025.
Volume and Segment Performance
Total Indian Made Foreign Liquor (IMFL) volume for the quarter was up 16.7% year-on-year reaching 9.75 million cases. The Prestige and Above category recorded a 25.9% increase in volume to 4.62 million cases. The Regular & Others segment volume grew by 32.7% to 4.70 million cases marking a continuation of recovery after previous periods of decline.
Volume growth contributed materially to revenue expansion. The share of Prestige and Above volumes approached parity with regular segment volumes, indicating more balanced segment contributions in the current period.
Brand Performance
Radico Khaitan’s core brand portfolio showed mixed, but generally positive performance in Q3. Established brands including Magic Moments Vodka, Rampur Indian Single Malt Whisky, Jaisalmer Indian Craft Gin, and the 8 PM series continued to contribute to overall volume growth and revenue. The company also noted early traction for recent premium and luxury launches.
Prestige and Above brands outpaced regular brands in percentage growth reflecting consumer demand trends toward higher-end products within the IMFL category. Regular and other brands posted above-average growth supported by strategic market expansions.
Branding and Marketing
Radico Khaitan maintained elevated levels of advertising and sales promotion spend during the quarter. Advertising and sales promotion costs were kept at approximately 6.9% of IMFL sales, consistent with a strategy to support sustained brand visibility and engagement. Marketing efforts are focused on purposeful brand building aimed at reinforcing long-term equity rather than short-term volume incentives.
Management highlighted strategic emphasis on expanding presence in on-trade channels where premium consumption trends are pronounced and brand advocacy among trade partners and influencers can be deepened. The company also referenced ongoing initiatives to elevate its luxury spirits portfolio and strengthen consumer associations with aspirational brand attributes.
Summary
Overall, Radico Khaitan reported double-digit growth in revenue, volume, and profit metrics for Q3 2026. The company demonstrated margin expansion amid stable raw material costs and achieved record quarterly volumes. Both premium and regular brand segments delivered volume increases. Brand investment and targeted marketing efforts remain integral to the company’s strategy to support premiumization and enhance long-term brand equity across consumer and trade channels.