India · Delayed Price · Currency is INR Radico Khaitan Earnings Call Transcripts
Fiscal Year 2026
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Record revenue and EBITDA were achieved, driven by premiumization and strong brand performance. Margin expansion and robust cash flow support a positive FY 2027 outlook, with 20%-25% growth targeted in key segments and continued focus on capacity, innovation, and prudent capital allocation.
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Record Q3 performance driven by premiumization, margin expansion, and strong brand growth, with volumes up 16.7% and EBITDA margin at 17.2%. Strategic investments in luxury brands and global supply chain, along with prudent capital allocation, position the company for sustained profitable growth.
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Q2 FY2026 saw 38% IMFL volume growth, led by premium brands and strong Andhra Pradesh gains. EBITDA margin rose to 15.8%, with robust luxury segment expansion and improved working capital. On track for 20%+ annual growth and debt-free status by FY2027.
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Record Q1 FY26 results with 38% volume growth, margin expansion, and strong premium brand performance. New launches in super premium whisky and luxury vodka, improved working capital, and reduced net debt position the company for continued growth and profitability.
Fiscal Year 2025
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Q4 FY25 saw record 28% volume growth and highest-ever turnover, with strong gains in premium segments and market share, especially in Andhra and UP. Margin and debt metrics improved, and new luxury launches plus FTA-driven cost savings are set to drive further growth.
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Q3 FY25 saw 15.3% IMFL volume growth, led by strong performance in luxury and core brands, with gross margin rising to 43%. Margin expansion and debt reduction remain key priorities, while premiumization and new launches drive future growth.
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Prestige and above category volumes grew 12.6% year-over-year, driving margin expansion and profitability. Premiumization, new luxury launches, and easing input costs support a positive outlook, with continued focus on debt reduction and cash flow improvement.
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Premium and luxury segments drove strong value growth despite overall volume decline, with new product launches and premiumization supporting margins. Margin expansion and debt reduction remain key priorities, while regulatory and input cost risks are being managed.