Radico Khaitan Limited (RADICO)
🎯 Key Takeaways
- Radico Khaitan Limited is in a phase of strategic reinvestment and leadership renewal, marked by strong top-line growth and improving profitability. The company has demonstrated consistent revenue expansion and margin recovery, supported by brand investments and leadership enhancements.
- Revenue grew 13.7% QoQ to ₹4,441 in Q3FY25.
- ⚠️ Dependence on the IMFL (Indian Made Foreign Liquor) segment exposes the company to regulatory and excise duty volatility across states.
📖 The Story
Radico Khaitan Limited is in a phase of strategic reinvestment and leadership renewal, marked by strong top-line growth and improving profitability. The company has demonstrated consistent revenue expansion and margin recovery, supported by brand investments and leadership enhancements. Its narrative is transitioning from operational stabilization to scalable growth, driven by marketing initiatives and management upgrades.
📰 What's Happening
In Q1 FY27, Radico Khaitan scheduled a conference call for July 29, 2026, to discuss earnings, following the board's approval of unaudited financial results for the quarter ending June 30, 2026. The results showed revenue of ₹4,441 lakhs and net profit of ₹95 lakhs, reflecting sequential and year-on-year growth. Concurrently, the company appointed Sudhir Upadhyay as Senior Management Personnel and Kunal Madan as Chief Marketing Officer, effective July 28, 2026, to bolster its commercial leadership. These moves underscore a focus on strengthening execution capabilities and brand-driven growth in a competitive beverages market.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,375 | 4,023 | 3,715 | 4,246 | 3,895 | 4,266 | 3,907 | 4,441 |
| Operating Profit | 80 | 121 | 122 | 148 | 125 | 153 | 166 | 185 |
| OPM % | 2.3% | 3.0% | 3.3% | 3.4% | 3.1% | 3.5% | 4.2% | 4.1% |
| Net Profit | 43 | 68 | 65 | 75 | 54 | 77 | 81 | 95 |
| EPS | ₹3.19 | ₹5.11 | ₹4.85 | ₹5.62 | ₹4.03 | ₹5.79 | ₹6.03 | ₹7.14 |
The company has delivered robust revenue growth, with Q1 FY25 revenue rising to ₹4,441 lakhs from ₹3,907 lakhs in Q2 FY25 and ₹4,266 lakhs in Q1 FY25, indicating strong momentum. Operating profit and net profit also improved sequentially, with OPM stabilizing around 4.1% and NP increasing to ₹95 lakhs. Margins have shown resilience despite macroeconomic pressures, supported by operational efficiency and pricing discipline. The consistent upward trend in revenue and profitability over the past eight quarters reflects effective brand management and distribution expansion, particularly in the IMFL and premium segments.
🔮 Management Outlook & What's Next
Management has not provided formal forward guidance in the reviewed filings. However, the scheduled earnings call on July 29, 2026, is expected to offer insights into future performance, particularly regarding demand trends and margin trajectory. The appointments of senior marketing and management personnel signal a proactive approach to sustaining growth, though explicit projections or targets have not been disclosed in the available regulatory disclosures.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Beverages
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Varun Beverages Limited | 1.70 L Cr | 64.7 | — | — | — |
| United Spirits Limited | 96,061 | 66.9 | — | — | — |
| Radico Khaitan Limited | 46,854 | 152.2 | — | — | — |
| United Breweries Limited | 36,165 | 85.1 | — | — | — |
| Allied Blenders and Distillers Limited | 15,534 | 68.7 | 17.2% | 13.7% | 0.69 |
| Tilaknagar Industries Limited | 10,664 | 58.1 | — | — | — |
| India Glycols Limited | 6,832 | 32.7 | — | — | — |
| Piccadily Agro Industries Limited | 5,849 | 42.6 | — | — | — |
| Globus Spirits Limited | 2,626 | 152.3 | — | — | — |
| GM Breweries Limited | 2,023 | 12.9 | — | — | — |
⚠️ Risk Factors
1. Dependence on the IMFL (Indian Made Foreign Liquor) segment exposes the company to regulatory and excise duty volatility across states. 2. Intense competition in the beverages space, particularly from organized players and unorganized producers, could pressure margins. 3. Execution risks associated with new leadership appointments and brand revitalization initiatives, which require time to yield results. 4. Raw material price fluctuations, especially in agricultural inputs, may impact cost structures if not passed through to consumers.
📋 Recent Filings
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Announcement 28 July 2026Radico Khaitan Limited disclosed that unclaimed dividends for the financial year 2018–19 remain unpaid for seven consecutive years, triggering mandato...
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🟡 Board Meeting 28 July 2026Radico Khaitan's board approved unaudited standalone and consolidated financial results for Q1 June 2026, showing revenue of [amount not verified], ne...
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Announcement 28 July 2026Radico Khaitan reported record Q1 FY2027 results with 70.5% revenue growth to [amount context mismatch] crore and 50.9% EBITDA growth to ₹348.1 crore,...
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🟡 Board Meeting 28 July 2026Radico Khaitan announced the appointment of Sudhir Upadhyay as Senior Management Personnel and Kunal Madan as Chief Marketing Officer, effective July ...
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🔴 Financial Results 21 July 2026Radico Khaitan Limited announced a conference call on July 29, 2026 at 4:00 PM IST to discuss Q1 FY2027 earnings, with presentation slides to be share...
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Announcement 5 July 2026Radico Khaitan announced that its flagship vodka brand Magic Moments sold 3.25 million cases in Q1 FY27, a 43% year-on-year increase, cementing its po...
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Announcement 24 June 2026Radico Khaitan announced its senior management will meet investors in London from June 29-30, 2026, including roadshows with ICICI Securities and Moti...
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Financial Results 24 June 2026Radico Khaitan Limited announced that its trading window will close on July 1, 2026, for 48 hours following the release of unaudited quarterly results...
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🟡 Board Meeting 22 June 2026Radico Khaitan announced a proposed dividend of Rs. 9 per share (450% of face value) for FY 2025-26, subject to shareholder approval at the August 7, ...
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Announcement 18 June 2026Radico Khaitan announced a series of investor meetings scheduled between June 23 and 24, 2026, with firms including IKIGAI Asset, Hudson Bay Capital, ...
🧠 Analyst's Read
Radico Khaitan is executing a disciplined turnaround narrative supported by revenue growth, margin improvement, and leadership upgrades. The upcoming earnings call will be critical to assess the sustainability of momentum and management's outlook. Investors should monitor demand trends, margin guidance, and the impact of marketing investments on long-term profitability.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-03.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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