IGI Logo

Radico Khaitan Limited, one of the largest spirits companies in India (referred to as “Radico Khaitan” or the “Company”), announces its results for the fourth quarter and full year ended March 31, 2025.

Q4 FY2025 Performance Summary

* Total IMFL volume* of 9.15 Million Cases (+27.9%)

* Prestige & Above brands volume of 3.40 Million Cases (+16.8%); Prestige & Above brands contribution to the IMFL volumes of 39.1% (vs. 49.6%)

* Prestige & Above brands net sales of Rs. 614.8 Cr (+22.1%); Prestige & Above brands contribution to the Total IMFL sales value of 63.4% (vs. 73.2%)

* Revenue from Operations (Net) of Rs. 1,304.1 Cr (+20.9%)

* Gross Profit of Rs. 566.9 Cr (+28.3%) at 43.5% margin

* EBITDA of Rs. 174.5 Cr (+38.9%) at 13.4% margin

* Total Comprehensive Income of Rs. 88.4 Cr (+49.6%)

12M FY2025 Performance Summary

* Total IMFL volume* of 31.36 Million Cases (+9.2%)

* Prestige & Above brands volume of 13.00 Million Cases (+15.5%); Prestige & Above brands contribution to the IMFL volumes of 46.1% (vs. 45.6%)

* Prestige & Above brands net sales of Rs. 2,340.2 Cr (+21.1%); Prestige & Above brands contribution to the Total IMFL sales value of 69.4% (vs. 68.5%)

* Revenue from Operations (Net) of Rs. 4,851.2 Cr (+17.8%)

* Gross Profit of Rs. 2,077.3 Cr (+18.6%) at 42.8% margin

* EBITDA of Rs. 668.4 Cr (+31.8%) at 13.8% margin

* Total Comprehensive Income of Rs. 341.2 Cr (+32.9%)

* Including brands on Royalty

Performance Overview

Above financials are on Standalone basis

Commenting on the performance, Dr. Lalit Khaitan, Chairman and Managing Director said:

“Radico Khaitan has achieved another outstanding quarter, closing FY25 with its strongest financial results to date. We posted an impressive 18% year-on-year revenue growth and recorded our highest-ever full-year EBITDA of ?668 crore—a testament to the success of our long-term strategic initiatives.

Over the past few years, our focus on expanded backward integration, enhanced distribution capabilities, a strong innovation pipeline, and impactful consumer engagement has propelled our growth. With the Indian spirits industry witnessing an increasing shift toward premium and luxury brands, we are well-positioned to capitalize on long-term opportunities in this evolving market.

Our growth this year was broad-based across both brands and geographies. The first half of the year was marked by industry and regulatory headwinds that impacted volume growth in the regular category. Additionally, rising grain and ENA prices posed further challenges. Despite this, we delivered strong volume growth and upheld our margin expansion commitments.

Looking ahead, we expect the demand environment in the spirits industry to remain robust, led by continued premiumization. Guided by our strategic vision, we remain focused on leveraging our strong business fundamentals to drive competitive and profitable growth.”

Commenting on the performance, Mr. Abhishek Khaitan, Managing Director said:

“Building on the strong momentum from Q3 FY25, we achieved an impressive 28% volume growth in Q4 FY25—our highest quarterly growth in the past three years. A key milestone this quarter was the launch of Ankahi Zaffran Spiced Liqueur, the first offering in the Ankahi Liqueur series. Rooted in our vision to bring India’s hidden and forgotten gems to a global audience, Ankahi seamlessly blends India’s rich heritage with the artistry of liqueur-making.

Continuing our commitment to innovation, we introduced 8PM Premium Black in Q1 FY26 with a bold new look, designed to enhance brand imagery while highlighting its unique product story, crafted around the harmony of eight select notes. As we move forward, the first quarter of FY26 will see the launch of two luxury brands—projects in development for the past two years. These launches represent a significant leap in Radico Khaitan’s premiumization journey, reaffirming our belief that the best is yet to come. Additionally, we will enter the super-premium whisky segment within the first half of the year, strengthening our footprint in high-growth categories.

With these three strategic introductions, we aim to address key portfolio gaps and establish a compelling, competitive brand lineup. While innovation remains at the heart of our strategy, our immediate priorities will focus on consolidating our current portfolio, focused marketing investment and expanding our distribution reach. Looking ahead, we anticipate strong double-digit growth in the Prestige & Above category, enhanced profitability, a continued emphasis on cash flow generation, and long-term value creation for our shareholders.”

Radico Khaitan at a Glance:

Radico?Khaitan Limited (“Radico?Khaitan” or the Company) is among the oldest and one of the largest manufacturers of IMFL in India. Earlier known as Rampur Distillery Company,?Radico?Khaitan commenced its operations in 1943 and over the years emerged as a major bulk spirits supplier and bottler to other spirit manufacturers. In 1998 the Company started its own brands with the introduction of 8PM Whisky.?Radico?Khaitan is one of the few companies in India to have developed its entire brand portfolio organically.

The Company’s brand portfolio includes Rampur Indian Single Malt Whiskies, Sangam World Malt Whisky, Spirit of Victory 1999 Pure Malt Whisky, Jaisalmer Indian Craft Gin, Royal Ranthambore Heritage Collection Royal Crafted Whisky, Happiness in a Bottle: A Happily Crafted Gin, Morpheus and Morpheus Blue Brandy, Magic Moments Vodka, Magic Moments Remix Pink Vodka, Magic Moments Dazzle Vodka (Gold & Silver), Magic Moments Verve Vodka, 1965 The Spirit of Victory Premium XXX Rum and Lemon Dash Premium Flavored Rum, After Dark Whisky, 8PM Premium Black Whisky, 8PM Whisky, Contessa Rum and Old Admiral Brandy.

Radico?Khaitan is also one of the largest providers of branded IMFL to the Canteen Stores Department (CSD), which has significant business barriers to entry. The Company has distilleries situated in Rampur, Sitapur and Aurangabad, Maharashtra which is a 36% joint venture. The Company has a total owned capacity of 320 million litres and operates 43 bottling units (5 owned, 29 contract and 9 royalty bottling units). It is also one of the largest exporters of Alcoholic beverages from India, with brands available in over 102 countries.

Above views are of the author and not of the website kindly read disclaimer