Radico Khaitan Limited has received approval from the National Company Law Tribunal (NCLT), Allahabad Bench, for its scheme of amalgamation with eight wholly owned subsidiaries. The order, dated June 01, 2026, and uploaded on the tribunal's website on June 05, 2026, facilitates the merger of these entities with Radico Khaitan, which serves as the transferee company. This strategic consolidation integrates step-down subsidiaries involved in spirits and real estate businesses, simplifying the corporate holding structure.

NCLT Order and Dispensations

The NCLT order grants specific dispensations regarding procedural requirements to streamline the merger process. The tribunal directed the dispensation of meetings for the equity shareholders of the transferor companies. Additionally, the order dispenses with the meetings of equity shareholders, secured creditors, and unsecured creditors of the transferee company, Radico Khaitan, removing the requirement for shareholder and creditor votes.

Entities Involved in the Amalgamation

The amalgamation involves eight transferor companies, all of which are wholly owned subsidiaries or wholly owned step-down subsidiaries of Radico Khaitan. The details of the entities involved are as follows:

Regulatory Compliance

The regulatory filing was submitted to BSE Limited and the National Stock Exchange of India Limited in reference to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation follows a previous letter dated October 29, 2025, regarding the proposed scheme. The completion of this amalgamation simplifies the corporate holding structure of Radico Khaitan by absorbing the subsidiary entities into the parent company.

Radico Khaitan reported a 24.7% increase in net revenue to ₹6,050.4 crore for the financial year ended March 31, 2026 (FY26), driven by strong demand for its premium portfolio. The company’s EBITDA grew 52.4% to ₹1,018.5 crore, while profit after tax rose 75.9% to ₹600.3 crore. The Prestige & Above segment contributed 45.6% to total IMFL volumes and 70.3% to IMFL revenue, underscoring the success of its premiumization strategy.

The company’s operational performance showed robust growth, with total own volume increasing 29.8% to 36.62 million cases. Prestige & Above volumes surged 28.5% to 16.70 million cases, while Regular & Others volumes grew 31% to 19.92 million cases. The realization per case improved significantly, supported by a favorable product mix and strategic pricing.

Radico Khaitan’s financial metrics reflected consistent improvement in profitability. Gross profit for FY26 stood at ₹2,740.9 crore, a 31.9% increase from the previous year, with gross margins expanding to 45.3%. The EBITDA margin improved to 16.8% from 13.8% in FY25. Basic earnings per share (EPS) increased 74.4% to ₹45.01.

Financial Performance

Operational Metrics

The company’s luxury brands, including Rampur Indian Single Malt and Jaisalmer Indian Craft Gin, continued to gain traction in global markets. Radico Khaitan exports to over 100 countries, leveraging its strong distribution network and manufacturing capabilities. The digital marketing initiatives reached over 650 million impressions, further strengthening brand visibility.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE944F01028/2a1927e82b1d419a.pdf