Radico Khaitan Ltd (RADICO)

Fast Moving Consumer Goods · Alcoholic Beverages · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹4,480.05 ↑ 57.07% (1Y)

🎯 Key Takeaways

Radico Khaitan Ltd is in a high-growth phase, leveraging its dominant position in India's premium spirits segment and expanding globally across 100+ countries. Management emphasizes brand leadership in luxury categories like single malt and gin, with a strategic vision focused on international markets and premiumization.
Revenue grew 12% QoQ to ₹1,684 in Q1FY27.
⚠️ High valuation (P/E of 85.2) may limit upside if growth slows or margin expansion stalls.

Market Cap

₹60,002

P/E Ratio

85.2

P/B Ratio

18.10

ROE

21.2%

ROCE

27.3%

Debt/Equity

0.10

Div Yield

0.20%

Promoter

40.2%

✨ Ask AI About RADICO 📊 Interactive Charts

📖 The Story

Radico Khaitan Ltd is in a high-growth phase, leveraging its dominant position in India's premium spirits segment and expanding globally across 100+ countries. Management emphasizes brand leadership in luxury categories like single malt and gin, with a strategic vision focused on international markets and premiumization. The company demonstrates strong profitability and margin expansion, supported by consistent revenue growth and operational efficiency.

📰 What's Happening

In August 2026, management presented its strategic vision 'Taking India to the World,' highlighting 45.6% volume and 70.3% value share in IMFL, with exports to 100+ countries and leadership in premium gin (50%) and vodka (60%). The company reported FY2026 revenue of ₹6,050 crores and EBITDA margin of 16.8%. Recent board actions include auditor re-appointment, approval of Q1 FY27 results showing strong profitability, and key leadership appointments — Sudhir Upadhyay as Senior Management Personnel and Kunal Madan as CMO — to bolster execution capabilities. Management projects industry volume of 493 million cases and value of ₹4,381 billion by CY2030, underscoring confidence in long-term growth.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	1,494	1,547	1,504	1,684
Operating Profit	200	230	242	308
OPM %	13.4%	14.9%	16.1%	18.3%
Net Profit	140	155	179	230
EPS	₹10.43	₹11.57	₹13.41	₹17.15

Quarterly financials reveal a clear upward trend in revenue and profitability, with June 2026 revenue at ₹1,684 crores and OPM expanding to 18.3% from 13.4% in September 2025. Net profit rose to ₹230 crores in Q1 FY27 from ₹140 crores in Q3 FY26, reflecting improving operational leverage. Despite minor fluctuations in total assets and liabilities, margins have consistently improved, aligning with management's focus on premiumization and cost discipline. The consistent growth in operating performance supports the narrative of scalable, margin-accretive expansion.

🔮 Management Outlook & What's Next

Management projects sustained growth in the Indian spirits market, forecasting industry volume of 493 million cases and value of ₹4,381 billion by CY2030. They emphasize leveraging their leadership in premium categories and global distribution to drive long-term value. While no formal financial guidance was provided beyond this projection, the strategic vision underscores confidence in continued margin expansion and international market penetration. The focus remains on premiumization, brand equity, and operational excellence as drivers of future performance.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	27	27	27	27
Reserves	2,537	2,727	2,951	3,289
Borrowings	903	750	624	332
Total Liabilities	4,412	4,639	4,837	4,972
Fixed Assets	1,679	1,804	1,811	1,911
Investments	197	198	196	240
Total Assets	4,412	4,639	4,837	4,972

The balance sheet reflects a conservative capital structure with low debt (₹332 crores in borrowings as of March 2026) and strong equity base, supported by consistent reserve growth from ₹2,727 crores to ₹3,289 crores over two years. Total assets have grown steadily, indicating reinvestment in operations without significant leverage. The absence of major capital expenditures or debt drawdowns suggests a focus on organic growth and financial stability, with reserves absorbing operational volatility and supporting long-term strategic initiatives.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+743
Investing	-266
Financing	-446
Net Cash Flow	+30

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	40.2%	40.2%	40.2%	40.2%
FII	18.0%	19.8%	17.6%	18.2%
DII	25.5%	24.0%	27.4%	28.1%
Public	11.7%	11.5%	10.8%	9.7%
# Shareholders	1,49,251	1,56,525	1,52,036	1,47,064

Institutional investor interest remains robust, with FII holding increasing from 17.63% in Q4 FY26 to 18.2% in Q1 FY27, and DII rising from 24.03% to 28.09% over the same period. Promoter holding remains stable at ~40.2%, indicating confidence in long-term prospects. The growing investor base, now exceeding 1.47 lakh shareholders, reflects rising market participation and validation of the company’s strategic trajectory. No significant promoter pledging or selling activity is evident.

⚖️ Peer Comparison — Alcoholic Beverages

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
UNITDSPR	1.08 L Cr	55.9	26.1%	21.0%	0.00
RADICO	60,002	85.2	27.3%	21.2%	0.10
UBL	34,665	87.6	10.9%	8.8%	0.26
ABDL	17,279	78.9	17.1%	12.6%	0.69
TI	13,894	—	15.2%	-4.1%	0.05
INDIAGLYCO	7,696	23.3	12.3%	10.8%	0.54
PICCADIL	6,258	44.2	29.4%	31.6%	0.70
GLOBUSSPR	2,665	26.4	12.8%	10.3%	0.52
GMBREW	2,005	12.6	19.4%	14.8%	0.00
SDBL	1,507	—	-1.0%	-4.0%	0.23

🔗 Peer Stock Analyses

UNITDSPR UBL ABDL TI INDIAGLYCO

⚠️ Risk Factors

1. High valuation (P/E of 85.2) may limit upside if growth slows or margin expansion stalls. 2. Dependence on the premium alcohol segment exposes the company to regulatory and excise duty volatility. 3. Global expansion faces execution risks in diverse markets with varying consumer preferences and trade barriers. 4. Margin pressure could emerge if raw material costs rise or competition intensifies in premium and export segments.

📋 Recent Filings

🧠 Analyst's Read

Radico Khaitan is executing a clear premiumization and global expansion strategy with strong financial momentum, but its elevated valuation reflects high growth expectations. Investors should monitor margin sustainability, international market penetration, and execution of the 'Taking India to the World' vision, particularly in emerging markets and luxury segments.

Based on filing content and financial data. Not a recommendation.

Read the full analysis

Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.

2 free AI queries per day.

✨ Deep Dive with AI on RADICO

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

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.

📡 Get AI alerts when RADICO files new disclosures

Track RADICO filings, board meetings, and corporate actions. Free email alerts at 5 PM.

Track RADICO — Free

Free account · 2 AI queries/day

About · Privacy Policy · Terms of Service · Pricing

Today's Announcements · Screener · Insights · AI Chat

Data provided by CMOTS Internet Technologies Pvt Ltd