Radico Khaitan (RADICO) Q4 24/25 earnings summary

Executive summary

• Achieved record quarterly and annual financial performance in FY25, with highest-ever volumes, profitability, and a 28% Q4 volume growth; auditors issued unmodified opinions on results.

• Strong double-digit growth in both Prestige & Above and Regular categories, with broad-based gains across brands and geographies.

• Continued focus on premiumization, innovation, and expanding distribution, with Magic Moments Vodka surpassing 7 million cases and several new luxury brand launches planned.

• Strategic focus on innovation, portfolio strengthening, targeted marketing, and distribution expansion.

• A dividend of 200% (Rs. 4 per share) was recommended for FY 2024-25, subject to shareholder approval at the AGM.

Financial highlights

• FY25 revenue from operations (net) reached INR 4,851 crore, up 17.8% year-over-year; EBITDA INR 668 crore, PAT INR 341 crore; Q4 FY25 IMFL volume at 9.15 million cases, up 28% year-over-year.

• Q4 FY25 revenue from operations (net) rose 20.9% year-over-year to ₹1,304.1 crore; gross profit up 28.3% to ₹566.9 crore; EBITDA up 38.9% to ₹174.5 crore.

• Dividend declared at 200% (₹4.00 per share), up from 150% (₹3.00 per share) in FY2024.

• Standalone net profit for FY 2024-25 was Rs. 34,121.29 lakhs, compared to Rs. 25,668.66 lakhs in FY 2023-24; basic EPS (standalone) for FY 2024-25 was Rs. 25.81.

• Net debt reduced by INR 114 crore over the year; significant inventory liquidation in Q4.

Outlook and guidance

• Confident of surpassing INR 500 crore in luxury portfolio revenue in FY26, building on 32% growth to INR 340 crore in FY25.

• Expecting double-digit growth in P&A category and 12%-13% growth in regular segment for FY26; robust demand in the spirits industry anticipated.

• Targeting further 35%-40% net debt reduction in FY26, aiming for near-zero debt in two years.

• Plans to maintain advertising and sales promotion spend at 6–8% of IMFL revenues to drive growth.

• Anticipate stable raw material and commodity prices, supporting margin improvement.