Radico Khaitan (RADICO) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 set quarterly records for volume, net revenue and profitability, with premiumization improving portfolio mix and margins.

• H1 FY27 also reached record volume, revenue and profitability, supported by organic brand building and a premium-led portfolio.

Financial highlights

• Q2 net revenue from operations rose 16.8% YoY to ₹1,745.1 crore; EBITDA grew 51.0% to ₹356.5 crore.

• Consolidated Q2 net profit was ₹232.3469 crore versus ₹139.5599 crore YoY; basic EPS increased to ₹17.34 from ₹10.43.

• H1 net revenue grew 14.3% to ₹3,429.8 crore and EBITDA rose 50.9% to ₹704.6 crore.

• Consolidated H1 net profit was ₹461.9483 crore versus ₹361.7475 crore; H1 EPS was ₹34.49 versus ₹20.18.

Outlook and guidance

• FY27 Prestige & Above volume growth guidance was raised to 30%; EBITDA margin guidance was reiterated at ~20%.

• Luxury portfolio value growth guidance remains 25% for FY27; further margin expansion is expected, with no forward-year target set amid cost volatility.

• Regular-category volumes are expected to be flat to grow 1%–2%; whisky and brandy in Prestige & Above are expected to grow above 20%.

• A&P spending is expected to remain 6%–8% of IMFL revenue; net debt-free status is targeted during H2 FY27.