Radico Khaitan Limited delivered a record-breaking first quarter for FY27, reporting standalone net profit of ₹226.01 crore, a 70% year-on-year increase, driven by robust volume growth in its Prestige & Above (P&A) segment and significant margin expansion. The company achieved total IMFL volumes of 10 million cases, with P&A volumes surging 36% to 5.22 million cases. This performance underscores the success of its premiumization strategy, leading management to raise the full-year volume growth forecast to over 25% for FY27.

The Board of Directors approved the unaudited financial results on July 28, 2026, reviewed by statutory auditors Walker Chandiok & Co LLP under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Revenue from operations (net) rose 11.8% to ₹1,683.7 crore. EBITDA expanded 50.9% to ₹348.1 crore, with margins reaching an all-time high of 20.7%, up from 15.3% in Q1FY26.

Financial Performance Highlights

The following table details key standalone financial metrics for Q1FY27 compared to Q1FY26:

Gross margin expanded significantly to 49.1%, aided by a benign raw material scenario despite approximately ₹30 crore financial impact from packing material price volatility. Selling and distribution expenses rose 22.6% to ₹180.1 crore, with Advertising and Sales Promotion (A&SP) spend maintained at 6.9% of IMFL sales.

Brand Performance and Premiumization

Magic Moments Vodka continued to dominate the category with 60% market share, growing 43% YoY to 3.25 million cases. Flavored vodka now accounts for 75% of Magic Moments volumes, up from 65% last year. The luxury portfolio, which generated ₹475 crore turnover last year, is on track to achieve its guided 25% value growth. Royal Ranthambore and 8PM Premium Black gained traction through differentiated brand initiatives, including IPL partnerships.

Total IMFL volume increased 2.8% to 10.00 million cases. While P&A volumes surged, Regular & Others volume declined 15.1% to 4.61 million cases due to higher base effects in Andhra Pradesh and policy impacts in Maharashtra and Karnataka. In Karnataka, Radico’s P&A category grew 83% against industry growth of 9% following pricing rationalization.

Balance Sheet and Strategic Outlook

Radico Khaitan reduced net debt by ₹138 crore since March 31, 2026, to stand at ₹106.1 crore as of June 30, 2026. The company aims to be net debt-free by Q2FY27. Return on Capital Employed (ROCE) improved to 26.9%. Management confirmed maintenance capex will range between ₹150 crore and ₹170 crore, with no immediate plans for acquisitions, adhering to a 'build versus buy' philosophy.

What the Numbers Show

The divergence between Radico’s P&A growth (36%) and overall industry trends highlights a clear structural shift towards premium consumption. With P&A revenue contributing 76.8% of total IMFL revenue, up from 66.7% last year, earnings quality has improved substantially. The company’s ability to sustain ~20% EBITDA margins while investing 6-8% in A&SP suggests strong operating leverage from its premium mix, insulating it from broader market volatility in regular segments.

Radico Khaitan Limited designated Sudhir Upadhyay and Kunal Madan as Senior Management Personnel (SMP) on July 28, 2026, to strengthen its leadership structure in compliance with regulatory requirements. The Board of Directors approved the designations during a meeting held on the same date, acting on the recommendation of the Nomination, Remuneration and Compensation Committee. This structural update ensures that key commercial functions—sales and marketing—are represented at the highest governance level required by the Securities and Exchange Board of India (SEBI). The company disclosed the appointments under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The designation applies to Sudhir Upadhyay, who serves as the Chief Sales Officer, and Kunal Madan, the Chief Marketing Officer. Both executives are internally developed leaders who have been associated with Radico Khaitan for more than a decade. Their elevation to SMP status formalizes their roles in the company’s strategic decision-making framework without altering their existing functional responsibilities or reporting lines. The appointment dates for both individuals are recorded as July 28, 2026.

Executive Profiles

Sudhir Upadhyay brings over 25 years of industry experience to his role as Chief Sales Officer. He has played a key role in strengthening the company’s sales capabilities and driving its growth journey. As an internal hire, his long tenure reflects deep institutional knowledge of Radico Khaitan’s distribution networks and market dynamics.

Kunal Madan, serving as Chief Marketing Officer, possesses over 20 years of extensive experience across global sales and marketing. He has contributed significantly to the company’s brand-building and premiumisation initiatives. His expertise supports Radico Khaitan’s strategy to enhance brand equity in competitive segments.

Regulatory Compliance

The intimation was issued pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Dinesh Kumar Gupta, Senior Vice President-Legal & Company Secretary, signed the disclosure. The company disseminated the intimation on its investor relations website and submitted it to both BSE Limited and the National Stock Exchange of India Limited. No relationships between directors and the designated personnel were disclosed, as per the annexure details.