• Prestige & Above Volume growth of 14.3% y-o-y; Prestige & Above Sales Value growth of 19.1%
• Highest ever quarterly EBITDA of Rs. 148.2 Crore, up 24.6% Y-o-Y
• Total Comprehensive Income of Rs. 75.7 Crore, up 20.6% Y-o-Y

New Delhi, India, August 7, 2024 – Radico Khaitan Limited, one of the largest spirits companies in India (referred to as “Radico Khaitan” or the “Company”), announces its results for the first quarter ended June 30, 2024.

Q1 FY2025 Performance Summary

• Total IMFL volume* of 7.07 Million Cases (-4.0%)
• Prestige & Above brands volume of 2.73 Million Cases (+14.3%)
• Prestige & Above brands net sales of Rs. 499.5 Cr (+19.1%)
• Prestige & Above brands contribution to the IMFL volumes of 43.4% (vs. 36.5%)
• Prestige & Above brands contribution to the Total IMFL sales value of 67.0% (vs. 59.5%)
• Revenue from Operations (Net) of Rs. 1,136.5 Cr (+19.1%)
• Gross Profit of Rs. 472.0 Cr (+13.5%) at 41.5% margin
• EBITDA of Rs. 148.2 Cr (+24.6%) at 13.0% margin
• Total Comprehensive Income of Rs. 75.7 Cr (+20.6%)

* Including brands on Royalty

Performance Overview

Above financials are on Standalone basis

“During Q1 FY2025, we achieved strong premium volume growth despite a challenging operating environment. External factors such as lower consumption growth, concerns about ongoing foodgrain inflation, and volatile commodity prices did not deter us from delivering robust operating performance. We remain confident in the medium to long-term potential of the Indian IMFL sector. With our distinguished portfolio of luxury and premium brands, coupled with our execution expertise and an expansive distribution network, Radico Khaitan is well-positioned to seize forthcoming industry opportunities. We will continue enhancing our brand portfolio to outperform the industry. Moving forward, we will stay focused on our strategic priorities and deliver consistent and profitable growth.”

Lalit Khaitan, Chairman and Managing Director

“FY2025 started on a positive note as we continued to deliver on our strategic roadmap. During the quarter, we launched Rampur Asava, Sangam, and Jaisalmer Gold Edition in India, enhancing the experience for connoisseurs of luxury brands. Our plan is to broaden the distribution of these distinguished brands throughout the year. We remain committed to curating a focused portfolio of premium brands that resonate with consumer aspirations. Moving forward, we will invest in strengthening our brand portfolio through targeted marketing and the introduction of select new brands in the luxury and premium space. As the year progresses, we expect the broader raw material basket to remain stable. Coupled with ongoing premiumization, we anticipate staying on track with our margin expansion trajectory.”

Abhishek Khaitan, Managing Director

Radico Khaitan at a Glance:

Radico Khaitan Limited (“Radico Khaitan” or the Company) is among the oldest and one of the largest manufacturers of IMFL in India. Earlier known as Rampur Distillery Company, Radico Khaitan commenced its operations in 1943 and over the years emerged as a major bulk spirits supplier and bottler to other spirit manufacturers. In 1998 the Company started its own brands with the introduction of 8PM Whisky. Radico Khaitan is one of the few companies in India to have developed its entire brand portfolio organically.

The Company’s brand portfolio includes Rampur Indian Single Malt Whiskies, Sangam World Malt Whisky, Spirit of Victory 1999 Pure Malt Whisky, Jaisalmer Indian Craft Gin, Royal Ranthambore Heritage Collection Royal Crafted Whisky, Happiness in a Bottle: A Happily Crafted Gin, Morpheus and Morpheus Blue Brandy, Magic Moments Vodka, Magic Moments Remix Pink Vodka, Magic Moments Dazzle Vodka (Gold & Silver), Magic Moments Verve Vodka, 1965 The Spirit of Victory Premium XXX Rum and Lemon Dash Premium Flavored Rum, After Dark Whisky, 8PM Premium Black Whisky, 8PM Whisky, Contessa Rum and Old Admiral Brandy.

Radico Khaitan is also one of the largest providers of branded IMFL to the Canteen Stores Department (CSD), which has significant business barriers to entry. The Company has distilleries situated in Rampur, Sitapur and Aurangabad, Maharashtra which is a 36% joint venture. The Company has a total owned capacity of 320 million litres and operates 43 bottling units (5 owned, 29 contract and 9 royalty bottling units). It is also one of the largest exporters of Alcoholic beverages from India, with brands available in over 102 countries.

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