Incorporated in the year 1943, Radico Khaitan is one of the most recognised IMFL (Indian Made Foreign Liquor) brands in India. The company was initially known as Rampur Distillery Company and was focussed on distillation and bottling for branded players and canteen stores of armed forces.
Later on in the year 1997, Radico Khaitan ventured into its own branded IMFL products and launched its first brand 8PM whisky which became its millionarie brand within a year of its launch.
Q3 FY26 Earnings Results
Radico Khaitan reported its strongest-ever quarterly performance in Q3 FY26 with record revenue, EBITDA and net profit, driven by 16.7% volume growth and premiumisation.
- Revenue from Operations (Net): ₹1,546.7 crore, up 19.5% YoY from ₹1,294.2 crore; up 3.6% QoQ from ₹1,493.9 crore.
- Gross Profit: ₹719.4 crore, up 29.2% YoY from ₹556.8 crore; gross margin 46.5% (up 350 bps YoY).
- EBITDA: ₹265.4 crore, up 44.9% YoY from ₹183.2 crore; EBITDA margin 17.2% (up 300 bps YoY).
- Profit Before Tax (PBT): ₹206.6 crore, up 59.0% YoY from ₹129.9 crore.
- Total Comprehensive Income (PAT): ₹153.7 crore, up 61.1% YoY from ₹95.4 crore; EPS ₹11.59 (up 61.5% YoY).
- Volumes: Total 9.75 million cases (up 16.7% YoY); Prestige & Above ₹838.3 crore (up 29.4% YoY); IMFL revenue ₹1,139.7 crore (up 27.6% YoY).
- 9M FY26: Strong momentum with net debt reduced by ₹208.5 crore to ₹365 crore.
Management Commentary & Strategic Decisions – Q3 FY26
Management attributed record results to benign raw material costs, premiumisation and operational leverage; expects 20–25% volume growth for FY26 close.
- Net Debt Reduction: ₹208.5 crore YoY to ₹365 crore (total debt ₹457.9 crore, cash ₹92.9 crore).
- Guidance: FY26 volume growth 20–25%; continued focus on Prestige brands (Magic Moments Vodka, After Dark Whisky, Royal Ranthambore).
- Outlook: Brokerages positive on margin expansion (gross margin 46.5%) and market share gains in premium segment.
Q2 FY26 Earnings Results
- Revenue from Operations (Net): ₹1,493.9 crore, up 33.8% YoY from ₹1,116.3 crore.
- EBITDA: ₹236.1 crore, up 45.4% YoY from ₹162.4 crore; margin 15.8% (up 126 bps YoY).
- Total Comprehensive Income (PAT): ₹137.8 crore, up 68.9% YoY from ₹81.6 crore; EPS ₹10.38 (up 68.9% YoY).
- Volumes: Total IMFL 9.34 million cases (up 37.8% YoY); Prestige & Above strong growth.
Management Commentary & Strategic Directions – Q2 FY26
Q2 delivered robust 34% revenue growth and 69% PAT surge, outperforming peers through premium focus and cost discipline.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.