Radico Khaitan

Q4 FY26Beverages

Radico Khaitan Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q4 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹4,640

Market cap₹62.2K Cr

P/E87.5

Updated23 Aug 2026

Read4 min read

The short version

Radico Khaitan projects **20% volume growth** in Prestige & Above (P&A) category for FY27 and beyond. Radico Khaitan targets a 20% volume growth in Prestige & Above (P&A) portfolio for FY27, driven by strong brand momentum and premiumisation.

From Radico Khaitan's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Radico Khaitan projects **20% volume growth** in Prestige & Above (P&A) category for FY27 and beyond.
Luxury portfolio expected to grow at **approximately 25% CAGR** over the next year, driven by brands like Rampur Indian Single Malt, Virasat, The Spirit of Kashmyr, Jaisalmer, and Royal Ranthambore.
Regular segment anticipated to grow at a modest **3% to 5% volume growth** annually.
Non-IMFL business expected to grow naturally at **7% to 8%** with gradual shift towards increased IMFL share.
Total IMFL volume in Q4 FY26 grew by **4% year-on-year**.
Radico aims for **25% sales CAGR** initially towards achieving INR 1,000 crores in luxury portfolio revenue.
Confidence expressed in maintaining growth trajectory supported by strong premiumisation, product innovation, and distribution expansion.

Profitability & Margins

Radico Khaitan targets a 20% volume growth in Prestige & Above (P&A) portfolio for FY27, driven by strong brand momentum and premiumisation.
EBITDA margin is expected to expand by 120-125 basis points annually in FY27, supported by price increases, product premiumisation, and operating leverage.
The company aims to sustain strong double-digit growth (around 20%) in its core IMFL business.
The luxury portfolio is projected to grow at 25% value CAGR, fueled by brands like Rampur Indian Single Malt, Virasat, Spirit of Kashmyr, and Jaisalmer.
Margin expansion is expected despite commodity inflation, leveraging pricing power and cost management.
Focus on improving return ratios and free cash flow generation underpins sustainable profitability and EPS growth.
Dividend payout policy of minimum 20% of PAT signals confidence in cash generation and profitability outlook.

See what Radico Khaitan said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex for FY27 is planned between INR 150 crores to INR 175 crores, focusing mainly on internal capacity expansion and optimization.
Around 60%-65% of bottling is outsourced; 30%-35% is handled internally – no capacity constraints expected to support 20% growth guidance.
The company aims at maintaining a minimum dividend payout of 20% of PAT, reflecting confidence in cash generation and maintaining flexibility for future investments.
For inorganic growth or acquisitions, currently, no plans are in place; focus remains on organic growth but the company will explore opportunities if they yield ROCE above 20%-25%.
New product launches planned mainly in luxury and Prestige & Above categories, including new flavors and potential tequila launch.
No additional capital required for the Maharashtra JV, as it is currently self-sufficient and cash-generative.

Top-ranked in Beverages

Ranked on what management guided this quarter

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3₹18.1K Cr

Rev 3Mar 1

4₹14.1K Cr

Rev 3Mar 1

5₹33.1K Cr

Rev 3Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

No current or immediate plans for new fundraising through debt or equity.
The company expects to become debt-free by H1 FY27.
Capital allocation focus is on organic growth with capex largely for maintenance, efficiency improvement, and capacity optimization.
Acquisition or inorganic growth through fundraising is ruled out at this time.
The company maintains financial discipline with a minimum dividend payout policy of 20%, reflecting confidence in cash generation without needing additional equity or debt.

See what Radico Khaitan said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The provided transcript from Radico Khaitan's Q4 FY2026 earnings call does not mention any details regarding the current or expected order book or pending orders. The discussion primarily focuses on market share, growth strategies, segment performance, pricing power, product launches, capacity, margin outlook, and supply chain considerations. There is no specific information related to order books or pending orders in the pages reviewed.

Radico Khaitan — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.5K Cr, net profit ₹179 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Radico Khaitan's management said in earlier quarters

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Frequently Asked Questions

What were Radico Khaitan Q4 FY26 results?

What is Radico Khaitan share price analysis?

Radico Khaitan currently shows a neutral. The stock trades at a P/E of 87.5 with a market cap of ₹62,165 Cr. Investors should review the full earnings analysis for detailed insights.

Is Radico Khaitan planning capital expenditure?

Capex for FY27 is planned between INR 150 crores to INR 175 crores, focusing mainly on internal capacity expansion and 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.