Radico Khaitan Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 7 Aug 2026 | Beverages | Market Cap: ₹61.0K Cr
The company expects the super-premium and luxury brands' revenue to reach close to Rs. Radico Khaitan expects continued premiumization and product mix improvements to drive margin expansion by approximately 125 basis points annually over the next two years, targeting late teens EBITDA margin.
From Radico Khaitan Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹4,640
Market Cap
₹61.0K Cr
P/E Ratio
85.8
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Radico Khaitan Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.5K Cr, net profit ₹179 Cr.
Full financials →📊 Revenue & Sales Performance
- →The company expects the super-premium and luxury brands' revenue to reach close to Rs. 500 crores in the current year, up from Rs. 340 crores last year.
- →Premium & Above category recorded 26% volume growth and 29% value growth in Q3 FY26.
- →Regular category volume grew 33% in the quarter, aided by market changes such as route-to-market adjustment in Andhra Pradesh.
- →Rampur 1943 Virasat Indian Single Malt and other recent launches show strong early traction with potential for significant growth.
- →Premiumization is a key driver with expectations of 125 basis points margin improvement each year for next two years.
- →Growth focus areas include expanding distribution across India for luxury brands and strengthening on-trade presence.
- →The export business is growing steadily, currently contributing about 8% of revenue.
- →Overall, the business model is positioned for consistent, profitable growth and market share gains in key states like Andhra, UP, Telangana, Rajasthan, MP, Haryana.
📈 Profitability & Margins
- →Radico Khaitan expects continued premiumization and product mix improvements to drive margin expansion by approximately 125 basis points annually over the next two years, targeting late teens EBITDA margin.
- →The company anticipates stable to benign raw material costs, particularly for ENA and grain, supporting margin sustainability.
- →Volume growth is expected to be supported by market share gains in key states like Andhra Pradesh, Uttar Pradesh, Rajasthan, MP, Haryana, Telangana, and expanding premium/luxury portfolio.
- →Investments will focus on consolidating and expanding distribution for recently launched premium brands, enhancing long-term brand equity.
- →Debt is expected to be fully repaid by FY27, enabling increased utilization of cash for dividend payouts.
- →Strong cash flow generation alongside disciplined financial execution and operating leverage benefits are likely to support consistent, profitable growth and improved return ratios going forward.
🏗️ Capital Expenditure Plans
- →Ongoing capex is primarily for maintenance and essential capacity optimization.
- →A 100% wholly-owned subsidiary has been set up in Scotland to secure access to matured malt supply chains for distillation and maturation in a cost-effective manner.
- →The Scotland subsidiary may explore future investments in malt distilleries or procurement of matured malt stocks, but no immediate investment plans are in place.
- →Capital allocation remains prudent and selective, focused on sustaining growth and optimizing capacities.
- →The company is focusing on consolidating and expanding distribution, particularly for recent premium brand initiatives, rather than launching new products in the short term.
💰 Fundraising & Capital Structure
- →No mention of any current or planned new fundraising through debt or equity in the transcript.
- →The company is focused on debt repayment and aims to be debt-free by FY27.
- →Debt levels have been consistently reducing, with net debt reduced by Rs. 209 crores since March 2025.
- →Post debt repayment, the expected use of cash is likely for dividend payouts, subject to board decisions.
- →Capital allocation is described as prudent and selective, mainly directed towards maintenance capex and essential capacity optimization.
- →A new wholly-owned subsidiary was set up in Scotland to support malt capabilities, but no immediate large investment or fundraising linked to this was indicated.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Radico Khaitan Ltd Q3 FY26 results?
The company expects the super-premium and luxury brands' revenue to reach close to Rs. Radico Khaitan expects continued premiumization and product mix improvements to drive margin expansion by approximately 125 basis points annually over the next two years, targeting late teens EBITDA margin.
What is Radico Khaitan Ltd share price analysis?
Radico Khaitan Ltd currently shows a neutral. The stock trades at a P/E of 85.8 with a market cap of ₹60,962 Cr. Investors should review the full earnings analysis for detailed insights.
Is Radico Khaitan Ltd planning capital expenditure?
Ongoing capex is primarily for maintenance and essential capacity optimization.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.