Prestige & Above Volume Growth
28%
+28% YoY
P&A segment volume grew 28% YoY in Q4, driven by premiumization and strong brand momentum.
RADICOKHAITAN
Other
15 May 2026
Radico Khaitan Limited — Q4 FY26
Radico Khaitan delivered a strong Q4 FY26, crossing ₹6,000 crore in revenue and ₹1,000 crore in EBITDA for the full year.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Magic Moment Volume
8.6M cases
+21% YoY
Magic Moment vodka reached 8.6 million cases in FY26, with Q4 growth of 28% YoY.
After Dark Volume
3.1M cases
+62% YoY
After Dark whiskey crossed 3.1 million cases in FY26, growing over 60%.
Luxury Portfolio Sales Value
₹475 Cr
+25% YoY (guided)
Luxury portfolio sales reached ₹475 crore in FY26; 25% growth guided for FY27.
Management Guidance
P&A volume growth of 20% in FY27
Management expects prestige & above segment volume to grow 20% in FY27, driven by Magic Moment, After Dark, and Royal Ranthambore.
Management guidance growthEBITDA margin expansion of 125 bps in FY27
Management guided for 125 bps EBITDA margin expansion in FY27, supported by price increases (~60 bps) and premiumization (>200 bps).
Management guidance marginsLuxury portfolio growth of 25% in FY27
Luxury portfolio sales expected to grow 25% to ~₹594 crore in FY27, driven by Rampur single malt, Virat, and Spirit of Kashmir.
Management guidance revenueDebt-free by FY27
Net debt reduced by ₹329 crore in FY26; company expects to become debt-free in FY27.
Management guidance otherKey Risks
Geopolitical volatility in West Asia
Management flagged potential supply chain and input cost disruptions due to West Asia tensions, which could impact margins.
medium · management_commentaryGlass price inflation
Glass prices increased ~15% recently; management has factored this into guidance but further increases could pressure margins.
medium · analyst_questionPolicy changes in Maharashtra and Karnataka
MML introduction in Maharashtra and potential policy shifts in Karnataka could impact volume and pricing dynamics.
medium · analyst_questionUS tariff impact on exports
US tariffs at 10% are manageable but softer US demand could affect luxury portfolio growth, though management downplayed the impact.
low · analyst_questionNotable 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.
Frequently Asked Questions
What was Radico Khaitan's revenue in Q4 FY26?
Radico Khaitan reported revenue of ₹1,504 Cr in Q4 FY26, representing a +25% change compared to the same quarter last year.
What guidance did Radico Khaitan management give for FY27?
P&A volume growth of 20% in FY27: Management expects prestige & above segment volume to grow 20% in FY27, driven by Magic Moment, After Dark, and Royal Ranthambore. EBITDA margin expansion of 125 bps in FY27: Management guided for 125 bps EBITDA margin expansion in FY27, supported by price increases (~60 bps) and premiumization (>200 bps). Luxury portfolio growth of 25% in FY27: Luxury portfolio sales expected to grow 25% to ~₹594 crore in FY27, driven by Rampur single malt, Virat, and Spirit of Kashmir. Debt-free by FY27: Net debt reduced by ₹329 crore in FY26; company expects to become debt-free in FY27.
What are the key risks for Radico Khaitan in FY27?
Key risks include Geopolitical volatility in West Asia — Management flagged potential supply chain and input cost disruptions due to West Asia tensions, which could impact margins.; Glass price inflation — Glass prices increased ~15% recently; management has factored this into guidance but further increases could pressure margins.; Policy changes in Maharashtra and Karnataka — MML introduction in Maharashtra and potential policy shifts in Karnataka could impact volume and pricing dynamics.; US tariff impact on exports — US tariffs at 10% are manageable but softer US demand could affect luxury portfolio growth, though management downplayed the impact..
Did Radico Khaitan meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Radico Khaitan Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.