Transcript of Earnings Conference Call held on May 07, 2026.
RADICO · price
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Radico Khaitan reported FY2026 as a milestone year, crossing INR 6,000 crores in net revenue and INR 1,000 crores in EBITDA. In Q4 FY26, IMFL volume grew 4% to 9.52 million cases with Prestige & Above surging 28%. Gross margin expanded 450 basis points to 48% and EBITDA margin reached a record 19% (up 565 basis points). The company guided for 20% volume growth in Prestige & Above and 125 basis points EBITDA margin expansion in FY27, with the luxury portfolio (INR 475 crore) expected to grow 25%. Key brands Magic Moments (INR 1,500 crore, 21% growth) and After Dark (60%+ growth) drove performance. Net debt reduced by INR 329 crore with debt-free target in H1 FY27. Management flagged potential glass price inflation (15% increase) and geopolitical risks in West Asia as watch items.
The company's premiumisation strategy is delivering strong margin expansion and the FY27 guidance of 125 basis points margin improvement signals continued profitability gains. Becoming debt-free will strengthen the balance sheet and support higher shareholder returns through the newly announced 20% minimum dividend payout.