Radico Khaitan News and Updates

Breweries & Distilleries company Radico Khaitan announced Q2FY24 & H1FY24 results: Q2FY24 vs Q2FY23: Total IMFL volume of 6.96 Million Cases (-3.1%) Prestige & Above brands volume of 2.84 Million Cases (+21.8%) Prestige & Above brands net sales of Rs 489.7 crore (+35.6%) Prestige & Above brand's contribution to the IMFL volumes of 47.1% (vs. 37.9%) Prestige & Above brand's contribution to the Total IMFL sales value of 70.0% (vs. 59.2%) Revenue from Operations (Net) of Rs 925.0 crore (+21.5%) Gross Profit of Rs 408.3 crore (+29.1%) at 44.1% margin (+259 bps) EBITDA of Rs 120.6 crore at 13.0% margin (+127 bps) Total comprehensive income of Rs 61.4 crore (+19.3%) H1FY24 vs H1FY23: Total IMFL volume of 14.32 Million Cases (+2.3%) Prestige & Above brands volume of 5.23 Million Cases (+24.2%) Prestige & Above brands net sales of Rs 909.2 crore (+37.7%) Prestige & Above brand's contribution to the IMFL volumes of 41.6% (vs. 33.7%) Prestige & Above brand's contribution to the Total IMFL sales value of 64.7% (vs. 54.6%) Revenue from Operations (Net) of Rs 1,878.9 crore (+23.7%) Gross Profit of Rs 824.2 crore (+27.5%) at 43.9% margin (+132 bps) EBITDA of Rs 239.5 crore at 12.7% margin (+79 bps) Total comprehensive income of Rs 124.2 crore (+13.5%) Commenting on the results and performance, Dr. Lalit Khaitan, Chairman & Managing Director said, “Radico Khaitan continued its robust performance in line with our expectations despite a challenging operating environment. This was led by broad-based growth across our premium portfolio. Industry volume growth, particularly in the regular category, remained muted during the quarter. We expect demand momentum to improve with the upcoming festive season. The recent commissioning of the greenfield grain distillery at Sitapur is a significant milestone development in the history of Radico Khaitan and augurs well for our future growth trajectory. We are committed to our long-term strategy of delivering sustainable premium volume growth. With our strong backward integrated platform and dedication to brand excellence, we are confident in our ability to capitalize on the long-term growth prospects within the Indian spirits industry.” Commenting on the results and performance, Abhishek Khaitan, Managing Director said, “During Q2 FY24, we delivered a strong growth of 22% in our Prestige & Above category brands. We are making remarkable progress in further expanding our brand portfolio and launched the next two whiskies in the Jugalbandi series of eight Indian Single Malt whiskies, i.e. Jugalbandi #3 and #4, at The Whisky Show in London. With our Rampur Indian Single Malt portfolio, we have always strived to take India to the World and the recent launch is a testament to our brand creation capabilities and celebrates an ancient Indian art form. Despite a volatile cost environment, our EBITDA margins have sustained on a sequential basis. We are confident that we are making progress in the right direction with our business strategies. We are focused on delivering value-led growth, managing business with agility, harnessing the strength of our extensive distribution network and manufacturing platform, while consistently improving our profit margins.” Result PDF

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Radico Khaitan News and Updates

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