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Revenue
₹1,504 Cr
verified against source
Revenue YoY
25%
reported change
EBITDA
₹1,000 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
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What the record says.
Radico Khaitan delivered a strong Q4 FY26, crossing ₹6,000 crore in revenue and ₹1,000 crore in EBITDA for the full year. The prestige & above segment grew 28% in volume, led by Magic Moment (+28% in Q4), After Dark (+62%), and Royal Ranthambore (+50%). Luxury portfolio reached ₹475 crore in sales, with 25% growth guided for FY27. EBITDA margin expanded 565 bps YoY to 19%, driven by premiumization, benign input costs, and operating leverage. Management guided for 20% P&A volume growth and 125 bps margin expansion in FY27, with price increases and mix improvement offsetting cost pressures. Key risks include geopolitical volatility in West Asia impacting input costs and potential policy disruptions in key states like Maharashtra and Karnataka.
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Guidance to track
- Management expects prestige & above segment volume to grow 20% in FY27, driven by Magic Moment, After Dark, and Royal Ranthambore.
- Management guided for 125 bps EBITDA margin expansion in FY27, supported by price increases (~60 bps) and premiumization (>200 bps).
- Luxury portfolio sales expected to grow 25% to ~₹594 crore in FY27, driven by Rampur single malt, Virat, and Spirit of Kashmir.
- Net debt reduced by ₹329 crore in FY26; company expects to become debt-free in FY27.
Risks flagged
- Management flagged potential supply chain and input cost disruptions due to West Asia tensions, which could impact margins.
- Glass prices increased ~15% recently; management has factored this into guidance but further increases could pressure margins.
- MML introduction in Maharashtra and potential policy shifts in Karnataka could impact volume and pricing dynamics.
- US tariffs at 10% are manageable but softer US demand could affect luxury portfolio growth, though management downplayed the impact.
Key quotes
- During the year, we crossed two key milestones with net revenue exceeding 6,000 crores and EBITDA crossing 1,000 crores.
- We expect to sustain this growth momentum and deliver 25% growth in FY27 in this portfolio.
- We are quite confident to add 120 basis point to 125 basis point margin in the coming year 27.
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