Radico Khaitan Limited, one of the largest spirits companies in India (referred to as “Radico Khaitan” or the “Company”), announces its results for the second quarter ended September 30, 2026.
Q2 FY2027 Performance Summary
- Total IMFL volume* of 10.02 Million Cases (+7.2%)
- Prestige & Above brands volume of 5.28 Million Cases (+35.8%); Prestige & Above brands contribution to the IMFL volumes of 53.7% (vs43.6%)
- Prestige & Above brands net sales of Rs996.0 Cr (+38.6%); Prestige & Above brands contribution to the Total IMFL sales value of 77.1% (vs68.6%)
- Revenue from Operations (Net) of Rs1,745.1 Cr (+16.8%)
- Gross Profit of Rs838.4 Cr (+28.6%) at 48.0% margin
- EBITDA of Rs356.5 Cr (+51.0%) at 20.4% margin (compared to 15.8% in Q2 FY26)
- Total Comprehensive Income of Rs230.3 Cr (+67.1%)
H1 FY2027 Performance Summary
- Total IMFL volume* of 20.01 Million Cases (+5.0%)
- Prestige & Above brands volume of 10.50 Million Cases (+35.8%); Prestige & Above brands contribution to the IMFL volumes of 53.4% (vs42.5%)
- Prestige & Above brands net sales of Rs1,966.0 Cr (+37.3%); Prestige & Above brands contribution to the Total IMFL sales value of 77.0% (vs67.6%)
- Revenue from Operations (Net) of Rs3,429.8 Cr (+14.3%)
- Gross Profit of Rs1,666.2 Cr (+28.2%) at 48.6% margin
- EBITDA of Rs704.6 Cr (+50.9%) at 20.5% margin (compared to 15.6% in H1 FY26)
- Total Comprehensive Income of Rs455.7 Cr (+68.7%)
* Including brands on Royalty
Performance Overview
Above financials are on Standalone basis
* Including exceptional charge of Rs6.99 Cr in Q1 FY26 on account of reassessment of House & Water Tax (FY2019-FY2025)
Commenting on the performance, DrLalit Khaitan, Chairman and Managing Director said:
“The second quarter reaffirms the consistency of our growth journeyBuilding on the milestone FY26 and an encouraging start to the year, Radico Khaitan has delivered another robust performance, taking H1 FY27 to record volume, revenue and profitabilityThis reflects years of patient investment in quality, organic brand building and an unwavering focus on premiumisationAs we scale, we are also strengthening our leadership team to support the next phase of growth with deeper capability and continuity.
Premiumisation continues to define the Indian spirits industryRising aspirations, an evolving cocktail culture and the expanding hospitality sector are steadily drawing consumers towards brands built on quality, heritage and authenticityOur Prestige & Above portfolio, now the principal engine of our growth, is capturing this shift, and we see it as a multi-year opportunity.
The IMFL industry continues to benefit from strengthening structural tailwindsIn Karnataka, the rationalised duty framework is showing early signs of a healthier, more premium-friendly marketTamil Nadu, the country’s largest market, is also sending encouraging signalsSuch progressive steps widen the opportunity for organised, branded players and support the long-term formalisation of the industry.
The global environment has turned increasingly volatile, with heightened uncertainty around input costs and supply chainsWe are navigating this with agility, drawing on our integrated manufacturing platform, sharper procurement and a richer product mixThese levers give us the resilience to stay the course, and we remain confident of sustaining our EBITDA margin.
India’s long-term consumption story remains intact, and Indian spirits are increasingly earning their place among the world’s finestWith a premium-led portfolio, deep manufacturing capabilities and a committed team, Radico Khaitan is well positioned to create long-term value for all our stakeholders.”
Commenting on the performance, MrAbhishek Khaitan, Managing Director said:
“Our premium-first strategy has delivered another quarter of remarkable resultsThe Prestige & Above portfolio volume grew 36% in Q2, well ahead of the industry, and continued to enrich our mixVodka is in the midst of a multi-year structural shift, and its share of the IMFL industry has risen to 6.3% in Q2 FY27Magic Moments is leading this changeOur flavour-led innovation is widening the category and drawing in a new generation of consumers, reinforcing the brand’s clear leadershipIn whisky, the contemporary new look of After Dark Blue is resonating well in the largest segment of the market8PM Premium Black continues to gain momentum and market share in key states.
Brand advocacy remains central to how we build our premium and luxury portfolioWe are deepening our on-trade presence through curated consumer experiences and key account partnerships, alongside sharper in-store visibility and growing digital engagementOur luxury brands, including Rampur Indian Single Malt, Jaisalmer Indian Craft Gin and Virasat Indian Single Malt, continue to receive an exceptional response from connoisseurs in India and abroadThese investments are building enduring brand equity and stronger connections with today’s aspirational consumers.
We are expanding our global footprint and Radico Khaitan is now the first Indian spirits company to be present across four major UK airports, a proud milestone for Indian spirits on the world stageBuilding on around 70 travel retail outlets currently, we are steadily progressing towards our target of 100 in the coming years.
Despite a challenging external environment, the momentum across our portfolio gives us confidenceWe upgrade our Prestige & Above volume growth guidance to 30% and reiterate EBITDA margin guidance of around 20% for FY27.
To support the next phase of growth, we have further strengthened our leadership teamDilip Banthiya has been elevated to Executive Director & CFO, bringing deep financial expertise to the Board, and Saket Somani has been elevated to Deputy CFOThese elevations reflect our belief in nurturing talent from within and building a leadership bench for the long term.”
This release contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Radico Khaitan’s future business developments and economic performanceWhile these forward-looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectationsThese factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performanceRadico Khaitan undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.