Arthneeti

Radico Khaitan Q2 FY27 Share Price & Earnings Call Analysis

₹4,235.00+2.42% today
Market cap
₹56,749 Cr
P/E
79.85
ROE
20.26%
PEG
1.95
Price to sales
9.12
Debt to equity
0.15
52W high / low
₹4,733 / ₹2,541
Sales growth (5Y)
20.52%
EBITDA margin
18.27%
Net profit margin
10.18%
Promoter holding
40.18%
Sales (last year)
₹6,228 Cr

Incorporated in the year 1943, Radico Khaitan is one of the most recognised IMFL (Indian Made Foreign Liquor) brands in India. [1]

Guidance scorecard · Q2 FY27 call

What Radico Khaitan Ltd's management guided
and where it ranks in Beverages

Revenue20–40%MarginsFlatCapexNone plannedFundraisingNone plannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • The company expects over 25% volume growth in the Prestige & Above (P&A) category for FY27.
  • Premium portfolio growth is targeted at 25% increase in sales value, on track to achieve this in FY27.
  • Annual guidance for P&A growth has been raised from 20% to 25%.
  • Magic Moments vodka shows strong month-on-month traction, supporting sustained growth.
  • Expansion in travel retail outlets (from 50 to 100 airports) is ongoing, increasing brand presence.
  • On-trade expansion with over 1,000 events planned for FY27 is being aggressively pursued.
  • The company aims to sustain 20% EBITDA margin driven by premiumization and efficient operations.

2 more points from Radico Khaitan Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

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

Full Q1 FY27 analysis

CapexQ1 FY27 call

None planned
  • Current capex for FY27 is estimated around Rs. 150 crores to Rs. 170 crores, mainly for maintenance, operational efficiencies, and capacity optimization.
  • No immediate plans for expanding ENA (Extra Neutral Alcohol) production capacity as the industry is currently ENA surplus.
  • Future capacity expansion will be considered only if the company is debt-free and the return on investment is attractive.

2 more points from Radico Khaitan Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

None planned

See what Radico Khaitan Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The company reported strong volume growth and robust demand, with highest-ever quarterly volume of 10 million cases in Q1 FY27.
  • There is mention of expanding distribution and a robust innovation pipeline, indicating ongoing order inflow.
  • Premium & Above (P&A) portfolio volume grew 36%, suggesting good market traction.
Full Q1 FY27 analysis
Full Beverages ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Beverages
on management's own guidance

  1. Varun BeveragesGood growth
    2
  2. Strong growth
    1
  3. FratelliVineyardGood growth
    3
See all potential multibaggersWhere does Radico Khaitan Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Beverages companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹5,815 Cr41.4
2Varun Beverages20–40%Flat₹1.46L Cr43.0
3FratelliVineyard20–40%Flat₹537 Cr—
410–20%Up 2%+₹19,866 Cr89.0
510–20%Up 2%+₹13,672 Cr60.5
610–20%Flat₹31,771 Cr91.9

Sign up free to see every company in the sector ranking and track Radico Khaitan Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Beverages ranking

Financials of Radico Khaitan Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Radico Khaitan Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +40.26%40.26%40.26%40.24%40.24%40.23%40.23%40.21%40.21%40.20%40.19%40.18%
FIIs +19.01%18.58%18.82%18.60%17.71%16.95%17.77%18.00%19.82%17.63%18.20%19.43%
DIIs +23.99%24.72%24.47%24.70%25.56%26.77%25.96%25.48%24.03%27.35%28.08%27.17%
Public +16.75%16.45%16.44%16.45%16.48%16.04%16.03%16.31%15.96%14.82%13.51%13.22%
No. of Shareholders1,12,8001,11,7811,14,6811,23,7411,29,5001,30,9251,39,9741,49,2511,56,5251,52,0361,47,0641,59,031

Financials of Radico Khaitan Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +9251,1611,0791,1371,1161,2941,3041,5061,4941,5471,5041,6851,745
Expenses +8041,0189599909551,1111,1271,2741,2561,2801,2191,3361,388
Operating Profit121143120147162183178232238267284349357
OPM %13%12%11%13%14%14%14%15%16%17%19%21%20%
Other Income +4622113-53-71097
Interest12181716172022161616151211
Depreciation26323233363636363737424143
Profit before tax869974100110129123175187206237305309
Tax %25%24%27%25%27%26%25%25%25%25%24%25%25%
Net Profit +65755475819592131140155179230232
EPS in Rs4.855.624.035.646.037.146.889.7510.4211.5713.4017.1417.34

Financials of Radico Khaitan Ltd

Profit & Loss

Annual income statement trend

Mar 2007Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +5801,6431,6571,7972,0632,3952,3742,8593,1334,1064,8436,0376,480
Expenses +4991,4521,4441,5261,7132,0231,9652,4572,7753,5994,1695,0155,222
Operating Profit811912142703513724094023595076741,0221,258
OPM %14%12%13%15%17%16%17%14%11%12%14%17%19%
Other Income +3041182713-1514725155119
Interest39858169363222132260746555
Depreciation164342414253546571114140153164
Profit before tax571031091882862733473322913484658051,058
Tax %20%24%26%34%34%17%24%25%24%25%26%25%
Net Profit +457880124194229277263220262346604796
EPS in Rs0.945.876.039.3014.5517.1620.7519.6916.4819.6125.8345.1459.45
Dividend Payout %11%14%13%11%8%12%12%15%18%15%15%20%

Financials of Radico Khaitan Ltd

Balance Sheet

Capital structure and asset base

Mar 2007Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital19272727272727272727272727
Reserves1669511,0181,1301,3091,5161,7662,0002,1812,4132,7273,2893,643
Borrowings +690960799592337400288202754818750498394
Other Liabilities +1333903924985815405435557628461,1631,1811,431
Total Liabilities1,0072,3272,2352,2472,2532,4832,6242,7843,7244,1044,6684,9955,496
Fixed Assets +2857297046857147438108211,2341,7001,8111,9101,906
CWIP44222016183830327542376174
Investments10220220220176178184175191198198240245
Other Assets +6681,3761,3091,3211,3471,5431,5921,7571,9712,1522,6352,7693,170
Total Assets1,0072,3272,2352,2472,2532,4832,6242,7843,7244,1044,6684,9955,496

Financials of Radico Khaitan Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2007Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-3625031630960370222239166363743
Cash from Investing Activity +815-21-7-67-76-108-705-226-171-266
Cash from Financing Activity +-87-234-293-2269-183-13448724-237-446
Net Cash Flow-42212762111-2021-36-4630
Free Cash Flow-4232272237-2024186-466-60189504
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-8%124%130%110%39%109%78%87%47%67%90%

Financials of Radico Khaitan Ltd

Ratios

Working capital efficiency and return ratios

Mar 2007Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days961361371281141251079696878972
Inventory Days155113199231270209283234292211246221
Days Payable160720159183148151102112123148117
Cash Conversion Cycle91176336201201187239228277175187177
Working Capital Days221362044768510410975677271
ROCE %14%10%14%19%18%18%16%12%13%16%24%

Guidance history

How Radico Khaitan Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatNone plannedNone planned—
Q4 FY26 call →20–40%Up 0–2%PlannedNone planned—
Q3 FY26 call →10–20%FlatPlannedNone planned—
Q2 FY26 call →20–40%Up 0–2%None planned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

74out of 100

Momentum score · price trend

74 out of 100 — Strengthening

Over the past year its share price has done better than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+33.8%80%
Last 6 months+23.7%77%
Last 3 months−3.0%58%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Radico Khaitan Ltd: 0.4 × 80 + 0.4 × 77 + 0.2 × 58 = 74.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Radico Khaitan Ltd's management said in earlier quarters

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