Radico Khaitan announced strong Q3 FY2026 results, marking a phase of acceleration with strategic clarity and execution excellence. The company reported its highest-ever quarterly performance with 9.75 million cases, net revenue of Rs. 1,547 crores, and EBITDA of Rs. 265 crores. Premium brands drove performance with margin expansion and improved return ratios. Looking ahead, the company aims to sustain momentum and deliver consistent, profitable growth.
Financial Highlights
Radico Khaitan reported its highest-ever quarterly performance in Q3 FY2026, with total IMFL volume reaching 9.75 million cases, a 16.7% year-on-year growth. Net revenue stood at Rs. 1,547 crores and EBITDA at Rs. 265 crores. The company’s Prestige & Above category, excluding royalty brands, grew by 26% in volume and 29% in value, with realizations improving by 2.8% year-on-year.
Premium Brands Performance
Key brands demonstrated strong growth. Royal Ranthambore Whisky grew over 50%, while Magic Moments Vodka saw an 18% volume increase, crossing Rs. 1,050 crores in sales for the nine-month period. After Dark Whisky recorded a 40% year-on-year growth in the quarter. 8PM Premium Black Whisky, relaunched with new packaging, is gaining momentum.
Strategic Initiatives
The company is deepening its partnership with key outlets and influencers to improve visibility and strengthen its consumer franchise. Rampur Indian Single Malt became the first Indian spirits brand to be served on Air India First and Business Class international flights. Radico Khaitan is setting up a 100% wholly-owned subsidiary in Scotland to invest in its malt capabilities.
Future Outlook
Radico Khaitan expects raw material prices to remain stable to favorable. The company aims for margin improvement driven by product profile and premiumization, targeting a late teen margin in the next two years. The company is on track to become debt-free by FY27, with net debt reduced by Rs. 209 crores since March 2025.
On-Trade Expansion
The on-trade channel is a strategic priority, with a dedicated team addressing bars, clubs, and other venues. On-trade sales currently account for approximately 6-7% of total sales.
Luxury Portfolio Growth
Revenue from the luxury portfolio is expected to reach approximately Rs. 500 crores this year, compared to Rs. 340 crores last year. The company is focusing on expanding distribution for brands like Rampur 1943 Virasat Indian Single Malt, Spirit of Kashmyr Vodka, and Kohinoor Rum.
Source: BSE
