RADICO KHAITAN Results Analysis-Q2FY2027

Financial performance and key operating metrics (Standalone) : Operating Revenue for Q2FY27 is Rs. 5,583 Crs., 10.4% growth YoY, Net Operating Revenue for Q2FY27 is Rs. 1,745 Crs., 16.8% growth YoY, Total Income is Rs. 5,588 Crs., 10.5% growth YoY, Gross Profit is Rs. 838 Crs., 28.6% growth YoY, EBITDA is Rs. 357 Crs., 51% growth YoY, EBITDA Margin is 20.43% improved by 462 Basis points YoY, PBT Rs. 308 Crs., 65.1% growth YoY, PAT Rs. 231 Crs., 66.1% growth YoY. But On QoQ basis Op. Revenue is down by 4.87%, Net Op. Revenue is down by 3.59%, Total Income is down by 4.87%, but EBITDA is up by 2.41%, PBT is up by 2.1% PAT is also up by 2.15%. Total IMFL volume 10.02 Mn. Cases, increased by 7.2% YoY, whereas Prestige & Above category volume 5.28 Mn. Cases, grew 35.8%. Premium volume growth was led by a 49% growth in the vodka portfolio which reached 2.96 million cases, supported by a strong growth in the whisky portfolio. IMFL revenue growth was 23.4% Y-o-Y led by the premium portfolio. Non-IMFL revenue growth was 1.4% Y-o-Y. ROE and ROCE improved, driven by higher operating profit and better asset utilization; expects further improvement as premium/luxury scales. DRI scrutiny as an industry issue, under study, “Spirit of Kashmir” litigation is—“sub judice in the court.”