Radico Khaitan Ltd logo

Radico Khaitan Ltd

RADICO NSE

Key Fundamentals

MidcapBreweries & DistilleriesBeverages
Market Cap
₹59,551 Cr
Volatility
High Risk
P/E Ratio
85.65
EBITDA
₹1,033 Cr
Return on Equity
18.23%
Debt to Equity
0.15
Book Value
₹247.48
EPS
₹20.28
52W High
₹4,590.3
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 18.2 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 3d ago
AI opinion · based on fundamentals
Risk high

Radico Khaitan is a ₹61,054 Cr market cap Indian spirits company trading at a PE of 84.7x and 18x book value, reflecting the market's premium pricing for its strong premiumisation-led growth. Revenue has compounded at 24% over 3 years with FY2026 revenue reaching ₹6,050 Cr (25% YoY growth), while profit has compounded at 41% over 3 years, driven by margin expansion as EBITDA margin rose to ~18.9% in Q4 FY26 from ~13.4% a year prior.

Bull Case 8
  • Prestige & Above segment volume grew 36-41% in recent quarters (Q1 FY26), with management guiding 25%+ volume growth for FY27, indicating a powerful premiumisation shift
  • Revenue CAGR of 24% over 3 years and 21% over 5 years demonstrates consistent top-line acceleration well above the industry average
  • Profit compounded at 41% CAGR over 3 years and 76% TTM growth, significantly outpacing revenue growth and signalling operating leverage
  • EBITDA margin expanded ~530 bps YoY to 18.9% in Q4 FY26, with Q1 FY27 reaching 20.7%, showing structural margin improvement from premiumisation
  • Net debt reduced to ₹106 Cr as of Q1 FY27 (down ₹138 Cr in one quarter), with management targeting net debt-free status by September 2026
  • ROE improved to 20% in the last year from a 5-year average of 14%, reflecting better capital efficiency as premium mix increases
  • Magic Moments vodka holds over 60% market share in its category, providing a dominant brand moat in India's fastest-growing spirits segment
  • FY2026 full-year revenue reached ₹6,050 Cr (24.7% YoY growth) with total IMFL volume crossing 9.3-9.7 million cases per quarter, demonstrating scale
Bear Case 8
  • Stock trades at 84.7x PE, far above the FMCG/beverage sector median of 40-50x, leaving minimal room for execution missteps
  • Price-to-book of 18x is exceptionally rich even for a consumer franchise, implying the market has already priced in several years of premium growth
  • Dividend yield of just 0.2% offers negligible income return, meaning total returns depend entirely on continued share price appreciation
  • Stock price CAGR of 58% over 1 year and 49% over 3 years has far outpaced earnings growth of 41% CAGR, suggesting valuation expansion that may not sustain
  • Indian alcobev sector faces regulatory risk — state-level excise policy changes, periodic prohibition threats, and advertising restrictions can disrupt volume and pricing
  • 10-year sales CAGR of only 14% shows that the current 24% growth phase is relatively recent and may not be a long-term structural baseline
  • High competitive intensity from United Spirits (Diageo), Pernod Ricard, and Allied Blenders in the premium segment could pressure margins or market share gains
  • Gross margin at 43-49% still lags global spirits peers (55-65%), and raw material (grain, glass, molasses) price volatility remains an ongoing input cost risk

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

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 2
  • Net profit surges 70% YoY Jul 28

    Standalone net profit rose 70% YoY to ₹226 crore in Q1FY27, with revenue growing 10.4% to ₹5,867 crore.

  • ₹9 per share final dividend Jul 9

    Record date fixed at July 24, 2026 for a final dividend of ₹9 per share, with AGM scheduled for August 7, 2026.

Neutral 5
  • Auditor re-appointed for 5 years Aug 7

    Walker Chandiok & Co LLP re-appointed as Statutory Auditors until the 47th AGM with 99.9956% shareholder approval at the 42nd AGM.

  • Investor meetings in Hong Kong Aug 5

    Senior management to meet RBC Global Asset Management and Capital Research Global Investors in Hong Kong on August 10-11, 2026.

  • Two executives designated as SMP Jul 28

    Chief Sales Officer Sudhir Upadhyay and Chief Marketing Officer Kunal Madan designated as Senior Management Personnel per SEBI regulations.

  • Q1 FY2027 earnings call scheduled Jul 21

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

  • BRSR filed for FY26 Jul 15

    Business Responsibility and Sustainability Report for FY26 filed, covering ESG performance and governance disclosures.

TL;DR: Radico Khaitan delivered a strong Q1FY27 with 70% net profit growth and healthy revenue expansion, signalling robust demand and improving margins. No material headwinds are visible in recent newsflow. The company is actively engaging international investors and maintaining solid governance practices. The trend appears firmly positive heading into FY27, though sustaining this profit growth trajectory will be the key watch point.

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 ₹59551.24 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 85.65. 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 ₹4,590.3. 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 0.20%. 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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