News ArticleRadico Khaitan Delivers Record Q2 FY27 with Over 10 Million IMFL Cases and Rs. 1,746 Crore Revenue
Premium portfolio volume surges 36%; EBITDA margin expands to 20.4% amid cost volatility; FY27 guidance upgraded
Radico Khaitan Limited reported its strongest Q2 FY27 performance with over 10 million IMFL cases sold, Rs. 1,746 crore revenue, and Rs. 356 crore EBITDA (20.4% margin). Premium portfolio volume grew 36%, supported by Magic Moments vodka innovations and whisky segment gains. The company upgraded its FY27 Prestige & Above volume growth guidance to 30% and expects to sustain EBITDA margins around 20% amid volatile input costs.
Radico Khaitan Limited
Earnings Call Transcript
Radico Khaitan Limited reported its strongest second quarter in history for FY27 with over 10 million IMFL cases sold, Rs. 1,746 crore in revenue, and EBITDA of Rs. 356 crore representing a 20.4% margin. Premium and above portfolio volumes grew 36% year-on-year, driving profitability despite input cost volatility.
The company registered IMFL volume growth of 7% year-on-year, with the Prestige & Above category reaching a record 5.28 million cases in Q2 FY27. The growth reflects strong brand momentum and a premiumization-led product mix improvement.
Vodka category shifts contributed strongly, with Magic Moments leading innovations such as the launch of Magic Moments Aam Panna, backed by digital marketing campaigns and showing healthy consumer response.
Whisky brands After Dark and 8PM Premium Black are resonating well with consumers, with After Dark's modern packaging gaining traction in new states, and Royal Ranthambore performing well in civil and CSD channels.
The luxury portfolio, including Rampur Indian Single Malt, Jaisalmer Indian Craft Gin, and Virasat Indian Single Malt, continues to receive strong recognition domestically and internationally, with expansion plans ongoing.
Internationally, Radico Khaitan became the first Indian spirits company present across four major UK airports, progressing towards a target of 100 travel retail outlets, expanding its global footprint in travel retail channels.
Highlights
- Total IMFL volume exceeded 10 million cases in Q2 FY27, marking a 7% year-on-year increase.
- Prestige & Above portfolio volume grew 36% to 5.28 million cases, the highest ever in a quarter.
- Revenue reached Rs. 1,746 crore, with EBITDA at Rs. 356 crore and EBITDA margin expanding to 20.4%.
- Gross margin improved by 440 basis points year-on-year to 48.0%, driven by product mix and premiumization.
- Company upgraded FY27 Prestige & Above volume growth guidance to 30% and targets sustaining EBITDA margin around 20%.
- Effective November 3, 2026, Dilip Banthiya appointed as Executive Director and CFO; Saket Somani promoted to Deputy CFO with expanded responsibilities.
Key Data Snapshot
What happened
- Radico Khaitan reported its strongest ever Q2 FY27 with record IMFL volume, revenue, and profitability.
- Total IMFL volume crossed 10 million cases, with the Prestige & Above portfolio growing 36% year-on-year.
- Revenue for the quarter was Rs. 1,746 crore and EBITDA Rs. 356 crore, achieving a 20.4% EBITDA margin.
Key details
- Gross margin improved 440 basis points year-on-year to 48.0%, supported by premiumization and price increases.
- Packaging cost inflation caused approximately Rs. 27 crore financial impact during the quarter.
- Vodka brand Magic Moments expanded with new launch Magic Moments Aam Panna supported by digital-first marketing.
- Whisky brands After Dark and 8PM Premium Black gained market traction; Royal Ranthambore performed well in multi-channel distribution.
- Luxury brands Rampur Indian Single Malt, Jaisalmer Indian Craft Gin, and Virasat Indian Single Malt continue to grow domestic and international presence.
- Radico Khaitan became the first Indian spirits company across four major UK airports, aiming for 100 travel retail outlets globally.
Financial performance
- IMFL volumes rose 7% year-on-year with premium portfolio driving growth.
- Prestige & Above category contributed 5.28 million cases, a quarterly record with 36% volume growth.
- EBITDA improved by 462 basis points year-on-year reflecting operating leverage and premiumization effects.
- Gross margin expanded by 440 basis points year-on-year to 48.0%.
Management commentary
- Management expresses confidence in sustaining EBITDA margins around 20% amid volatile raw materials and packaging costs.
- FY27 Prestige & Above volume growth guidance upgraded to 30%.
- Focus on cost controls through procurement, value engineering, integrated manufacturing, and a premium product mix.
- Leadership updates: Dilip Banthiya appointed Executive Director and CFO; Saket Somani promoted Deputy CFO with expanded mandate.
Highlights
- Total IMFL volume exceeded 10 million cases in Q2 FY27, marking a 7% year-on-year increase.
- Prestige & Above portfolio volume grew 36% to 5.28 million cases, the highest ever in a quarter.
- Revenue reached Rs. 1,746 crore, with EBITDA at Rs. 356 crore and EBITDA margin expanding to 20.4%.
- Gross margin improved by 440 basis points year-on-year to 48.0%, driven by product mix and premiumization.
- Company upgraded FY27 Prestige & Above volume growth guidance to 30% and targets sustaining EBITDA margin around 20%.
- Effective November 3, 2026, Dilip Banthiya appointed as Executive Director and CFO; Saket Somani promoted to Deputy CFO with expanded responsibilities.
Disclosures
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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