NSE: RADICO · BSE: 532497 · ISIN INE944F01028
Radico Khaitan Limited stock analysis
Radico Khaitan Limited ranks #166 in the TickerSutra evidence-ranked universe with a score of 70/100 and 95% data confidence. The latest captured fundamentals show ROCE of 24.1%, quarterly sales growth of 11.8% and quarterly profit growth of 69.2%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 24.1%
- Low debt/equity of 0.15×
- 24.4% three-year sales CAGR
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹2,859cr | ₹402cr | ₹263cr | 14.0% |
| 2023 | ₹3,133cr | ₹359cr | ₹220cr | 11.0% |
| 2024 | ₹4,106cr | ₹507cr | ₹262cr | 12.0% |
| 2025 | ₹4,843cr | ₹674cr | ₹346cr | 14.0% |
| 2026 | ₹6,037cr | ₹1,022cr | ₹604cr | 17.0% |
| TTM | ₹6,228cr | ₹1,138cr | ₹704cr | 18.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Radico Khaitan Limited has informed the Exchange regarding a press release dated September 28, 2026, titled "Indian Luxury Whisky Brands Land in the Home of Scotch: Radico Khaitan First Indian Spirits Company Across Four Major UK Airports".
RoutineTrading WindowBSE · 25 Sept 2026Radico Khaitan Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineAlteration Of Capital and Fund Raising-XBRLNSE · 23 Sept 2026 · Structured filingRADICO KHAITAN LIMITED has informed the Exchange regarding Allotment of Securities
RADICO KHAITAN LIMITED has informed the Exchange regarding Allotment of Securities
Open original XBRL sourceAllotment of 6,667 Equity Shares under ESOP.
RoutineESOP/ESOS/ESPSNSE · 23 Sept 2026Radico Khaitan Limited has informed the Exchange regarding Allotment of 6,667 Equity Shares under ESOP.
MANAGEMENT COMMENTARY
Signals from filed documents
The improvement was led by better portfolio mix, softer raw material prices and ongoing premiumisation. We continue to monitor the evolving situation in West Asia and are confident of our margin expansion trajectory over the mid -to-long term. EBITDA margin during the quarter stood at 19%, expanding 565 basis points year -on-year, highest ever EBITDA margin , reflecting the strength of our premiumi sation strategy, o
We have got the price increases in some of the states which amount to be around 60 basis points. At the same time product premiumisation and operating leverage will yield us more than 200 basis points. So, we will be more than mitigating the impact of the cost 6 | P a g e Q4 FY2026 Earnings Call Transcript push and thereafter also we are confident to deliver 120 basis points to 125 basis points margin expansion.
Profitability will remain a key focus. We will continue to work towards margin improvement through portfolio mix enhancement, operating leverage, cost discipline, supply-chain efficiency and backward integration leading to a 120 bps EBITDA margin expansion in FY2027. With stronger cash generation and a healthier balance sheet, we are also on track to become debt-free in the first half of FY2027, which will provide gr
So, we believe in outsourcing that with quality tie-up arrangements, etc., So, we are confident. The capex as I said will be in the range of INR 150 crores to INR 175 crores which will be largely on my internal capacity expansion and optimization, etc., So, we will be doing that mix of that. But the capacity is not a constraint for growth.
At the same time product premiumisation and operating leverage will yield us more than 200 basis points. So, we will be more than mitigating the impact of the cost 6 | P a g e Q4 FY2026 Earnings Call Transcript push and thereafter also we are confident to deliver 120 basis points to 125 basis points margin expansion. And just one follow -up on the margins.
So, going forward are we looking to penetrate even in a better way the global market scenario, how are we strategizing that forward? Sanjeev Banga: Yes, the international market is a very important strategic market for us and it is not only the international market, even the global travel retail that is very important. We are currently in 50 -plus airports and our target is to cross 100 airports in a quick time.
Dilip Banthiya: So, on the margin front, as you noticed that in last quarter we have improved our gross margin by 450 basis points and EBITDA margin by 565 basis points and we are quite confident to add 120 basis points to 125 basis points margins in the coming year ‘27. We have got the price increases in some of the states which amount to be around 60 basis points. At the same time product premiumisation and operati
We had a strong vodka base there, so we will get the benefit of that. Vishal Gutka: So, is West Bengal an open market or the regulatory state as of now? Sudhir Upadhyay: No, it is an open market right now.
to review and approve the Charter of ESG and Sustainability Council of the Company; 5. to review the working of ESG and Sustainability Council specific to ESG goals, targets & strategy as approved by ESG Committee; 6. to review ESG reporting in line with various national and global sustainability/ ESG indices and guidelines; 7.
No Unpublished Price Sensitive information is discussed in the meeting/ presentation with institutional investors and analysts. Presentations made to Institutional Investors / Analysts at Investor Meet organised/ participated by the Company are also hosted on the Company’s website. Exclusive email ID for investors: The Company has a designated email id i.e.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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