Radico Khaitan (RADICO) Q1 26/27 earnings summary

Executive summary

• Achieved record quarterly performance in Q1 FY27 with 10 million cases sold, highest ever revenue of INR 1,684 crores, and profitability driven by premiumization and strong brand performance.

• Prestige & Above segment led growth with 36% volume increase, outpacing industry trends, and Magic Moments vodka posted 43% volume growth year-over-year.

• Premiumization strategy, innovation in vodka flavors and tequila, and expanded luxury portfolio distribution supported long-term growth.

• Management remains optimistic about long-term growth, citing favorable demographics and premiumization trends.

• Unaudited standalone and consolidated financial results for Q1 FY27 were approved by the Board and reviewed by statutory auditors, who issued an unmodified conclusion.

Financial highlights

• Revenue from operations increased 11.8% year-over-year to ₹1,683.7 crore, with gross margin expanding 610 bps to 49.1%.

• EBITDA grew 50.9% to ₹348.1 crore, with margin at 20.7%, up 536 bps year-over-year, the highest ever.

• Net debt reduced by INR 138 crore since March 2026, targeting net debt free by Q2 FY27.

• Total comprehensive income increased 70.5% to ₹225.4 crore; net income margin at 13.4%.

• Standalone and consolidated net profit for Q1 FY27 saw strong year-over-year and sequential growth.

Outlook and guidance

• Upgraded Prestige & Above volume growth guidance to over 25% for FY27, with luxury portfolio targeted for 25% sales value growth.

• Confident of sustaining EBITDA margin around 20% for FY27.

• Maintenance CapEx planned at INR 150-170 crore; further capital allocation to be decided by the board.

• Continued ESOP grants and share allotments indicate ongoing investment in talent and growth.