Manufactures and sells Indian-made foreign liquor (IMFL) across vodka, whisky, rum, brandy and other categories under brands such as Magic Moments, After Dark and Royal Ranthambore. Magic Moments is the flagship vodka and leads the Indian vodka market. Operations span 30 states, with exports to over 100 countries. In Q1 FY27 the company sold 10 million cases for ₹1,684 cr in revenue and ₹348 cr in EBITDA, an EBITDA margin of 20.7% described in the call as the highest ever. Full-year FY26 revenue was ₹20,976 cr. The cost mix is dominated by other operating expenses at 78.2% of revenue (which typically captures excise duty in Indian spirits), with materials at 15.9% and employee cost at 1.2%. Net debt was reduced by ₹138 cr to ₹106 cr, with management targeting net debt-free status by Q2 FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Prestige & Above (P&A) portfolio, Regular category, Luxury portfolio, Exports. Asset-heavy Indian spirits distiller structured around premiumisation, vodka and luxury portfolio growth
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 12,471 | 12,744 | 15,484 | 17,099 | 20,976 |
| EBITDA (ex other income) | 402 | 358 | 506 | 674 | 1,005 |
| margin % | 3.2 | 2.8 | 3.3 | 3.9 | 4.8 |
| Owners' profit | 263 | 0 | 262 | 346 | 604 |
| EPS, as reported (₹) | 19.70 | 16.48 | 19.61 | 25.84 | 45.16 |
| ROE % · ROCE % | 13.2 · 16.4 | 10.0 · 11.3 | 10.7 · 13.9 | 12.6 · 17.4 | 18.2 · 23.8 |
| Debt / equity (x) | 0.10 | 0.32 | 0.30 | 0.23 | 0.10 |
| Cash from operations | 221 | 239 | 183 | 363 | 743 |
| Capex | (67) | (734) | (252) | (181) | (245) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,907 | 4,441 | 4,485 | 5,314 | 10,370 | 5,424 | 5,182 | 5,868 |
| Profit before tax | 112 | 130 | 121 | 174 | 360 | 207 | 233 | 298 |
| Net profit | 81 | 95 | 92 | 131 | 270 | 155 | 179 | 230 |
| EPS (₹) | 6.03 | 7.14 | 6.88 | 9.75 | 20.18 | 11.57 | 13.41 | 17.15 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| UNITED SPIRITS LIMITED | 1,01,138 | 52.6 | 11.29 | 37.5 | 20.5 | 23.1 | 0.3 | 6.9 |
| RADICO KHAITAN LTD ◆ | 58,503 | 70.1 | 17.64 | 57.8 | 18.2 | 22.1 | 15.1 | 6.0 |
| UNITED BREWERIES LTD | 33,182 | 83.9 | 7.33 | 37.4 | 9.1 | 12.1 | 11.4 | 5.6 |
| ALLIED BLEND N DISTILS L | 17,790 | 81.2 | 10.55 | 33.3 | 13.1 | 17.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Radico Khaitan to Interact With Investors at Two Scheduled Meetings | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Newspaper notice for lost share certificates | compliance | minimal | — | — |
| 1 Sept 2026 · Investor meeting with GIC scheduled for September 7, 2026 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Investor meeting schedule shared with exchanges | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Radico Khaitan launches Magic Moments Aam Panna flavoured vodka | business updates | medium | — | — |
| 19 Aug 2026 · Special window for transfer and demat of old physical shares | compliance | minimal | — | — |
| 13 Aug 2026 · Radico Khaitan to attend two investor conferences on Aug 19 and 20 | board shareholder meetings | low | — | — |
| 11 Aug 2026 · CRISIL ESG assigns rating score of 58 to Radico Khaitan | credit debt | medium | — | — |
| 8 Aug 2026 · Radico Khaitan shares investor presentation on growth strategy and financials | investor communications | medium | — | — |
| 7 Aug 2026 · Re-appointment of Walker Chandiok & Co LLP as Statutory Auditor for second 5-year term | management changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| — |
| 6.6 |
| TILAKNAGAR INDUSTRIES LTD | 12,916 | — | 4.33 | 70.3 | 0.7 | 0.4 | 29.9 | 6.4 |
| PICCADILY AGRO INDUSTRI L | 5,917 | 41.8 | 6.57 | 26.7 | 15.3 | 17.5 | 18.3 | 17.3 |
| GLOBUS SPIRITS LTD | 2,443 | 20.6 | 2.24 | 10.9 | 8.4 | 8.5 | 16.7 | 6.9 |
| G M BREWERIES LTD | 2,077 | 22.6 | 1.93 | 9.8 | 14.5 | 19.0 | — | 6.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 70.1 | 23.8 | 20 of 24 | 17% |
| P/B | 17.6 | 2.2 | 25 of 25 | 0% |
| ROCE | 22.1 | 3.7 | 3 of 26 | 92% |
| ROE | 18.2 | 5.6 | 3 of 25 | 92% |
| Debt / Equity | 0.1 | 0.5 | 5 of 25 | 83% |
| EBITDA margin | 6.0 | 6.4 | 13 of 23 | 46% |
| Revenue growth | 10.4 | 10.2 | 11 of 22 | 52% |
| Profit growth | 75.9 | 6.1 | 4 of 23 | 86% |
| Market cap | 58503 | 858 | 2 of 26 | 96% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
