Breweries & Distilleries firm Radico Khaitan announced Q4FY23 & FY23 results: Q4FY23 vs Q4FY22: Total IMFL volume of 7.24 Million Cases (-0.7%) Prestige & Above brands volume of 2.55 Million Cases (+17.4%) Prestige & Above brands net sales of Rs 433.6 crore (+18.2%) Prestige & Above brands contribution to the IMFL volumes of 40.2% (vs. 30.5%) Prestige & Above brands contribution to the Total IMFL sales value of 65.8% (vs. 55.3%) Revenue from Operations (Net) of Rs 831.8 crore (+2.4%) Gross Profit of Rs 337.4 crore (-2.8%) EBITDA of Rs 80.1 crore at 9.6% margin Total comprehensive income of Rs 36.5 crore FY23 vs FY22: Total IMFL volume of 28.24 Million Cases (+7.1%) Prestige & Above brands volume of 9.35 Million Cases (+19.8%) Prestige & Above brands net sales of Rs 1,496.2 crore (+23.9%) Prestige & Above brands contribution to the IMFL volumes of 37.5% (vs. 30.2%) Prestige & Above brands contribution to the Total IMFL sales value of 59.8% (vs. 52.3%) Revenue from Operations (Net) of Rs 3,142.8 crore (+9.6%) Gross Profit of Rs 1,314.9 crore (+1.9%) EBITDA of Rs 358.2 crore at 11.4% margin Total comprehensive income of Rs 202.6 crore Commenting on the results and performance, Dr. Lalit Khaitan, Chairman & Managing Director said: “FY2023 can be characterized as a year of transformation for Radico Khaitan. Despite an overall challenging operating environment, we have delivered a broad based, premium volume growth across the portfolio and across geographies. Not only our core premium brands registered strong growth, but we also added two more brands to the millionaire club, i.e. Morpheus Premium Brandy and 1965 Spirit of Victory Premium Rum. Radico Khaitan now has seven brands with volume of a million cases annually. Our capex projects are progressing well within the estimated timelines. We are confident that we have the right strategies to deliver a balanced growth and value creation in the medium to long term. Our performance in a tough inflationary environment clearly demonstrates the strength and consistency of our strategic initiatives, which helped us capitalize on our brand equity while continuing to innovate and deepen consumer connect. We remain committed to delivering a robust volume growth while continuing to invest behind our brands, expanding our domestic and international ontrade footprint, and focusing on a resilient and future ready supply chain. Long term industry dynamics remain attractive, and going forward we believe that the Company is well-positioned to capitalize on the growth opportunities in the Indian IMFL industry. In line with our strategy of maintaining a balance between delivering returns to shareholders and preserving funds for growth capital, we propose a consistent dividend of Rs 3.00 per share.” Result PDF
Conference Call with Radico Khaitan Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.