$RADICO Leads India's Spirit Surge

While the global beverage alcohol market volume contracted by 2% in 2025, India’s volume grew by 4%. Driven by a massive population base and increasing social acceptance, India is projected to surpass the US by 2032 to become the world's second-largest alcohol market behind China. $RADICO Leads Domestic Growth: Local brands are anchoring India's alcohol boom, with Radico Khaitan outperforming domestic peers. The company boasts eight individual brands that achieve annual sales of one million cases or more—the highest number among indigenous Indian spirit companies. Global Footprint & Scale Advantages: Radico Khaitan's portfolio—spanning vodka, brandy, and rum—regularly features in top 10 global volume rankings. This multi-brand scale gives the company significant manufacturing and distribution advantages over smaller competitors. Outperforming Market Incumbents: Financial analysts highlight that Radico Khaitan significantly outpaced larger industry incumbents in FY26. This growth was primarily propelled by the aggressive scaling of its premium portfolio and robust consumer brand traction. Premium Valuations & Strong Outlook: Driven by superior growth margins, Radico Khaitan's stock has achieved a valuation premium, even trading higher than industry giant United Spirits. Analysts project continued momentum into FY27, forecasting a 15% revenue increase and a 22% jump in EBITDA.