Radico Khaitan Ltd logo

Radico Khaitan Ltd

RADICO NSE

Key Fundamentals

MidcapBreweries & DistilleriesBeverages
Market Cap
₹62,318 Cr
Volatility
High Risk
P/E Ratio
89.87
EBITDA
₹1,033 Cr
Return on Equity
18.23%
Debt to Equity
0.15
Book Value
₹247.48
EPS
₹20.28
52W High
₹4,693.4
52W Low
₹2,500

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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56 extracted metrics + investor summaries across FY07–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has reduced debt.

Weaknesses

1
  • Stock is trading at 19.0 times its book value

Growth Rate

Revenue Growth
24.84% ↗
Net Income Growth
74.91% ↗
Cash Flow Change
104.66% ↗
ROE
45.26% ↗
ROCE
37.85% ↗
EBITDA Margin (Avg.)
22.05% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Radico Khaitan is a mid-large cap Indian spirits company with a market cap of ₹61,479 crore, trading at a PE of 86x and 18.2x book value. The company delivered FY2026 revenue of ₹6,050 crore (up 24.7% YoY) with EBITDA crossing ₹1,000 crore at a 16.8% margin, driven by 28.5% volume growth in its Prestige & Above segment, while its stock has compounded at 50% CAGR over 3 years.

Bull Case 8
  • FY2026 revenue grew 24.7% YoY to ₹6,050 crore, crossing the ₹6,000 crore mark for the first time, indicating strong top-line momentum
  • EBITDA margin expanded 300 basis points from 13.8% in FY2025 to 16.8% in FY2026, with EBITDA surging 52.4% to ₹1,018.5 crore
  • Prestige & Above brand volumes grew 28.5% in FY2026, reflecting successful premiumisation that drives higher margins and brand equity
  • Compounded profit growth of 76% TTM and 41% over 3 years demonstrates accelerating earnings trajectory
  • Debt reduction underway with net debt falling to ₹410 crore (debt-to-equity ~0.27) and management targeting debt-free status by FY2026-end
  • ROE improved to 20% in the last year from a 5-year average of 14%, showing improving capital efficiency alongside margin expansion
  • Management guides 20% premium volume growth and 120 bps further margin expansion in FY2027, supported by white spirits growth and luxury portfolio expansion
  • Q4 FY2026 EBITDA margin reached 18.9% (+530 bps YoY), suggesting the margin expansion trend is accelerating into FY2027
Bear Case 8
  • PE ratio of 86x is extremely elevated relative to the Indian consumer staples average of 40-50x, leaving little room for execution misses
  • Price-to-book of 18.2x implies the market is pricing in sustained high growth for many years, creating downside risk if growth decelerates
  • Dividend yield of just 0.2% offers negligible income return, meaning investors rely almost entirely on capital appreciation
  • Stock CAGR of 61% in 1 year and 50% over 3 years has significantly outpaced profit CAGR of 41% over 3 years, indicating valuation multiple expansion that may not sustain
  • The Indian liquor industry faces regulatory risk including state-level prohibition, excise policy changes, and advertising restrictions that can impact volumes unpredictably
  • 10-year compounded sales growth of 14% is modest relative to the current valuation, and the recent acceleration to 24% may not be sustainable long-term
  • Raw material cost volatility — particularly for extra neutral alcohol and glass — can compress margins despite premiumisation, with management acknowledging short-term RM cost volatility
  • At ₹61,479 crore market cap versus FY2026 EBITDA of ~₹1,018 crore, the EV/EBITDA multiple of ~53x prices in near-flawless execution for several years

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 17h ago
Positives 2
  • Q1FY27 profit surges 70% YoY Jul 28

    Standalone net profit rose 70% YoY to ₹225-226 crore in Q1FY27, with revenue growing 10.4% to ₹5,867 crore, driven by strong premium brand volumes and margin expansion.

  • Active global investor engagement Aug 5

    Senior management conducting one-on-one meetings with marquee investors including RBC Global Asset Management and Capital Research Global Investors in Hong Kong (Aug 10-11) and at Motilal Oswal/DAM Capital conferences (Aug 19-20).

Neutral 3
  • 42nd AGM auditor reappointed Aug 7

    Walker Chandiok & Co reappointed as statutory auditors for five years and Abhishek Khaitan reappointed as director at the 42nd AGM held August 7, 2026.

  • Senior management personnel designated Jul 28

    CSO Sudhir Upadhyay and CMO Kunal Madan designated as Senior Management Personnel per SEBI Listing Regulations, effective July 28, 2026.

  • Q1 FY2027 earnings call scheduled Jul 21

    Conference call for Q1 FY2027 results hosted on July 29, 2026, with access for global participants.

TL;DR: Radico Khaitan delivered a strong Q1FY27 with 70% profit growth and healthy revenue expansion, reflecting successful premiumisation and margin improvement. No material headwinds emerged in recent newsflow. Active investor engagement in Hong Kong and domestic conferences signals management confidence. The trend is clearly positive with momentum in premium volumes, though sustaining this growth rate will be the key watch item going forward.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
954
925
1,161
1,079
1,137
1,116
1,294
1,304
1,506
1,494
1,547
1,504
1,684
Expenses
834
804
1,018
959
990
955
1,111
1,127
1,274
1,256
1,280
1,219
1,335
Operating Profit
120
121
143
120
147
162
183
178
232
238
267
284
349
OPM %
13%
13%
12%
11%
13%
14%
14%
14%
15%
16%
17%
19%
21%
Other Income
6
4
6
2
2
1
1
3
-5
3
-7
10
9
Interest
12
12
18
17
16
17
20
22
16
16
16
15
12
Depreciation
24
26
32
32
33
36
36
36
36
37
37
42
41
PBT
89
86
99
74
100
110
129
123
175
187
206
237
305
Tax %
23%
25%
24%
27%
25%
27%
26%
25%
25%
25%
25%
24%
25%
Net Profit
68
65
75
54
75
81
95
92
131
140
155
179
230
EPS in Rs
5.11
4.85
5.62
4.03
5.64
6.03
7.14
6.88
9.75
10.42
11.57
13.4
17.14
Figures in ₹ Crores

Profit & Loss

  Mar 2007Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
580
1,643
1,657
1,797
2,063
2,395
2,374
2,859
3,133
4,106
4,843
6,037
6,228
Expenses
499
1,452
1,444
1,526
1,713
2,023
1,965
2,457
2,775
3,599
4,169
5,015
5,090
Operating Profit
81
191
214
270
351
372
409
402
359
507
674
1,022
1,138
OPM %
14%
12%
13%
15%
17%
16%
17%
14%
11%
12%
14%
17%
18%
Other Income
30
41
18
27
13
-15
14
7
25
15
5
1
15
Interest
39
85
81
69
36
32
22
13
22
60
74
65
60
Depreciation
16
43
42
41
42
53
54
65
71
114
140
153
158
PBT
57
103
109
188
286
273
347
332
291
348
465
805
935
Tax %
20%
24%
26%
34%
34%
17%
24%
25%
24%
25%
26%
25%
—
Net Profit
45
78
80
124
194
229
277
263
220
262
346
604
704
EPS in Rs
0.94
5.87
6.03
9.3
14.55
17.16
20.75
19.69
16.48
19.61
25.83
45.14
52.53
Div. Payout %
11%
14%
13%
11%
8%
12%
12%
15%
18%
15%
15%
20%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2007Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
19
27
27
27
27
27
27
27
27
27
27
27
Reserves
166
951
1,018
1,130
1,309
1,516
1,766
2,000
2,181
2,413
2,727
3,289
Borrowings
690
960
799
592
337
400
288
202
754
818
750
498
Other Liabilities
133
390
392
498
581
540
543
555
762
846
1,163
1,181
Total Liabilities
1,007
2,327
2,235
2,247
2,253
2,483
2,624
2,784
3,724
4,104
4,668
4,995
Fixed Assets
285
729
704
685
714
743
810
821
1,234
1,700
1,811
1,910
CWIP
44
2
2
20
16
18
38
30
327
54
23
76
Investments
10
220
220
220
176
178
184
175
191
198
198
240
Other Assets
668
1,376
1,309
1,321
1,347
1,543
1,592
1,757
1,971
2,152
2,635
2,769
Total Assets
1,007
2,327
2,235
2,247
2,253
2,483
2,624
2,784
3,724
4,104
4,668
4,995
Figures in ₹ Crores

Cash Flow

  Mar 2007Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
-36
250
316
309
60
370
222
239
166
363
743
Investing
—
81
5
-21
-7
-67
-76
-108
-705
-226
-171
-266
Financing
—
-87
-234
-293
-226
9
-183
-134
487
24
-237
-446
Net Cash Flow
—
-42
21
2
76
2
111
-20
21
-36
-46
30
Free Cash Flow
—
-4
232
272
237
-20
241
86
-466
-60
189
504
CFO/OP
—
-8
124
130
110
39
109
78
87
47
67
90
Figures in ₹ Crores

Ratios

  Mar 2007Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
96
136
137
128
114
125
107
96
96
87
89
72
Inventory Days
155
113
199
231
270
209
283
234
292
211
246
221
Days Payable
160
72
0
159
183
148
151
102
112
123
148
117
Cash Conversion Cycle
91
176
336
201
201
187
239
228
277
175
187
177
Working Capital Days
221
36
20
44
76
85
104
109
75
67
72
71
ROCE %
14%
—
10%
14%
19%
18%
18%
16%
12%
13%
16%
24%

Shareholding Pattern

As of Jun 2026
Promoters 40.19%
DIIs 28.09%
FIIs 18.20%
Public 9.72%
Others 3.80%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
40.30%
40.29%
40.27%
40.27%
40.27%
40.27%
40.27%
40.27%
40.27%
40.27%
40.26%
40.26%
40.26%
40.26%
40.24%
40.24%
40.23%
40.22%
40.21%
40.20%
40.20%
40.19%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
19.01%
18.58%
18.82%
18.60%
17.72%
16.94%
17.77%
18.00%
19.82%
17.63%
18.20%
DIIs
15.42%
16.86%
17.31%
17.26%
17.91%
18.74%
20.75%
23.23%
23.52%
21.26%
21.44%
23.99%
24.71%
24.48%
24.71%
25.56%
26.78%
25.97%
25.47%
24.03%
27.35%
28.09%
Government
0.02%
0.02%
0.02%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
16.83%
14.47%
14.38%
13.60%
14.67%
14.46%
13.56%
12.64%
12.34%
12.15%
12.94%
12.23%
11.94%
11.78%
11.73%
11.65%
11.46%
11.41%
11.74%
11.52%
10.84%
9.72%
Others
27.43%
28.36%
28.02%
28.87%
27.16%
26.53%
25.42%
23.87%
23.87%
26.32%
25.37%
4.51%
4.51%
4.67%
4.72%
4.83%
4.58%
4.62%
4.58%
4.42%
3.98%
3.80%
No. of Shareholders
0
65,124
74,258
99,384
1,22,484
1,46,390
1,46,986
1,29,077
1,17,089
1,07,465
1,15,430
1,12,800
1,11,781
1,14,681
1,23,741
1,29,500
1,30,925
1,39,974
1,49,251
1,56,525
1,52,036
1,47,064

Documents

Frequently Asked Questions about Radico Khaitan Ltd

What does Radico Khaitan Ltd do?
Incorporated in the year 1943, Radico Khaitan is one of the most recognised IMFL (Indian Made Foreign Liquor) brands in India. [1] 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. La...
Where is Radico Khaitan Ltd (RADICO) listed?
Radico Khaitan Ltd is listed on the Indian stock exchanges. It is listed on NSE: RADICO and BSE: 532497. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Radico Khaitan Ltd belong to?
Radico Khaitan Ltd operates in the Beverages sector within the Breweries & Distilleries industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Radico Khaitan Ltd?
Radico Khaitan Ltd has a market capitalisation of approximately ₹62318.26 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Radico Khaitan Ltd?
The Price-to-Earnings (PE) ratio of Radico Khaitan Ltd is 89.87. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Radico Khaitan Ltd?
Over the past 52 weeks, Radico Khaitan Ltd has traded between a low of ₹2,500 and a high of ₹4,693.4. This range helps investors understand the stock's price volatility and recent trading levels.
Does Radico Khaitan Ltd pay dividends?
Yes, Radico Khaitan Ltd has a dividend yield of 0.19%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Radico Khaitan Ltd?
Radico Khaitan Ltd has a Return on Equity (ROE) of 18.23%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Radico Khaitan Ltd on Tapetide?
On Tapetide, you can view Radico Khaitan Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in the year 1943, Radico Khaitan is one of the most recognised IMFL (Indian Made Foreign Liquor) brands in India. [1] 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. [2]

Website radicokhaitan.com
CEO Dr. Lalit Kumar Khaitan
Employees 1,494
Listed 2003-06-18
Face Value ₹ 2
Issued Size 13,38,93,489

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