Radico Khaitan (NSE:RADICO) filed the transcript of its Q1 FY2027 earnings conference call on 5 August 2026, pursuant to Regulation 30 of SEBI's Listing Regulations. The call, held on 29 July 2026, disclosed quarterly revenue of Rs. 1,684 crores, EBITDA of Rs. 348 crores, and total IMFL volume of 10 million cases for the quarter ended 30 June 2026.
Key Highlights
- Q1 FY27 EBITDA margin reached 20.7%, expanding by 536 basis points year-on-year to its highest-ever level, as disclosed on the earnings call.
- Prestige and Above portfolio volumes grew 36% year-on-year, with Magic Moments vodka delivering 3.25 million cases at 43% volume growth and 51% value growth.
- Net debt was reduced by Rs. 138 crores since March 2026, and management stated the company is on track to become net debt free by Q2 FY27.
- Gross margin for Q1 FY27 stood at 49.1%, a 610 basis point expansion year-on-year, despite approximately Rs. 30 crores of impact from packing material price volatility.
About the Company
Radico Khaitan (NSE:RADICO), headquartered in New Delhi with its registered office at Rampur Distillery, Bareilly Road, Rampur, Uttar Pradesh, is one of India's largest Indian Made Foreign Liquor manufacturers. Its portfolio spans whisky, vodka, rum, and brandy brands including Magic Moments, 8PM Premium Black, Rampur Indian Single Malt, Royal Ranthambore, and After Dark, distributed across domestic and international markets.
Announcement in Detail
The earnings call, attended by Managing Director Abhishek Khaitan, CFO Dilip Banthiya, President International Business Sanjeev Banga, and Chief Sales Officer Sudhir Upadhyay, reported total IMFL volume of 10 million cases for Q1 FY27, described as the highest-ever quarterly volume. Revenue stood at Rs. 1,684 crores and EBITDA at Rs. 348 crores for the quarter ended 30 June 2026.
Management guided for Prestige and Above portfolio volume growth of over 25% for full-year FY27 and stated confidence in sustaining EBITDA margins of around 20% for FY27. On the luxury segment, Abhishek Khaitan indicated that the luxury portfolio recorded approximately Rs. 475 crores in turnover in FY26, with a 25% growth target for FY27 that management said it remains on track to achieve.
Impact on Investors
Investors will note that the disclosed EBITDA margin of 20.7% and the net debt reduction of Rs. 138 crores since March 2026 represent improvements in both profitability and balance sheet strength as reported on the call. The filing shows management has guided for net debt-free status by Q2 FY27, which shareholders will observe could affect the company's financial flexibility and interest cost trajectory.
The filing also shows that packing material price volatility caused approximately Rs. 30 crores of financial impact in Q1 FY27, and management noted monitoring of West Asia supply chain conditions. Investors will note this as a factor that could affect input cost assumptions in subsequent quarters, alongside any further policy changes in key state markets such as Andhra Pradesh, Maharashtra, and Karnataka.
Sector / Market Context
India's vodka category has grown at over 20% CAGR between FY22 and FY26 per management's disclosed figures, with its share of total IMFL volumes rising from 4.6% in Q1 FY26 to 6.1% in Q1 FY27. The broader Indian alcobev industry continues to be shaped by premiumization trends and state-level excise policy changes, which affect route-to-market structures and pricing across different geographies.