StrengthTalking point
Profit outpacing revenue
Profit grew 74.6% while revenue grew 22.7%, so the company kept more of each rupee of revenue as profit.
Importance 72 / 95 · growth
Radico Khaitan · Research view
Radico Khaitan Ltd.
NSE: RADICOBSE: 532497ISIN INE944F01028Face value ₹2standalone
₹4,268
−2.11% · 2026-10-01 · 52-wk ₹2,541–₹4,733
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
WatchTalking point
Stock has run ahead of the business
Over 5 years the stock returned 36.6% a year while profit compounded at 17.4% a year.
Importance 58 / 95 · business vs stock
StrengthTalking point
Returns at a multi-year high
ROE of 20.3% is the highest in 7 years (prior range 9.9% to 16.5%).
Importance 57 / 95 · profitability
StrengthTalking point
Compounding revenue
Revenue compounded at 14.6% a year over 7 years (₹8,058 → ₹20,976).
Importance 55 / 95 · growth
Section 03 · The company
Who is this company?
Classified by the exchange under Fast Moving Consumer Goods › Fast Moving Consumer Goods › Beverages › Breweries & Distilleries.
- Market cap
- ₹57,148 cr
- FY2026 revenue
- ₹20,976 cr
- FY2026 net profit
- ₹603 cr
- Net worth
- ₹3,250 cr
- Total debt
- ₹332 cr
- EPS (basic)
- ₹45.01
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 2 breweries & distilleries.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Strength
Profit grew 74.6% while revenue grew 22.7%, so the company kept more of each rupee of revenue as profit.
Rule PROFIT_FASTER_THAN_REVENUE
- Revenue growth per year
- +14.6%over 7 years
- Revenue growth
- +22.7%vs last year
- Net profit growth
- +74.6%vs last year
- Change in net profit since FY19
- +220%
Revenue compounded at 14.6% a year over 7 years (₹8,058 → ₹20,976).
Net profit grew 74.6% year on year (FY2025 → FY2026).
Revenue grew 22.7% year on year (FY2025 → FY2026).
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 net profit was ₹230 cr, up 75.9% from ₹131 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Strength
Q1 FY27 net profit grew 75.9% while revenue grew 10.4% vs the same quarter last year — a gap of 65.5 percentage points.
Rule QTR_PROFIT_VS_REVENUE_GROWTH
Strength
Q1 FY27 EBIT was ₹309 cr, up 57.1% from ₹197 cr a year earlier.
Rule QTR_OPERATING_PERFORMANCE_CHANGE_YOY
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 3,907 | — | 81 | — | 2.1% |
| Q3 FY25 | 4,441 | +4.6% | 95 | +27.1% | 2.2% |
| Q4 FY25 | 4,485 | +15.2% | 92 | +70.8% | 2.1% |
| Q1 FY26 | 5,314 | +24.6% | 131 | +68.7% | 2.5% |
| Q2 FY26 | 5,057 | +29.4% | 140 | +73.0% | 2.8% |
| Q3 FY26 | 5,424 | +22.1% | 155 | +62.3% | 2.9% |
| Q4 FY26 | 5,182 | +15.5% | 179 | +94.9% | 3.5% |
| Q1 FY27 | 5,868 | +10.4% | 230 | +75.9% | 3.9% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹21,531 crTTM
- EBITDA
- ₹1,151 crTTM
- EBIT
- ₹993 crTTM
- PBT
- ₹923 crTTM
- Net profit
- ₹704 crTTM
C. Corporate actions
24 Jul 2026DividendFinal Dividend - Rs. - 9.0000 — ₹9.00/share
24 Jul 2025DividendFinal Dividend - Rs. - 4.0000 — ₹4.00/share
25 Jul 2024DividendFinal Dividend - Rs. - 3.0000 — ₹3.00/share
14 Sept 2023DividendFinal Dividend - Rs. - 3.0000 — ₹3.00/share
21 Sept 2022DividendFinal Dividend - Rs. - 3.0000 — ₹3.00/share
20 Sept 2021DividendFinal Dividend - Rs. - 2.4000 — ₹2.40/share
21 Aug 2020DividendFinal Dividend - Rs. - 2.0000 — ₹2.00/share
19 Sept 2019DividendFinal Dividend - Rs. - 1.2000 — ₹1.20/share
24 Aug 2018DividendDividend - Rs. - 1.0000 — ₹1.00/share
21 Sept 2017DividendDividend - Rs. - 0.8000 — ₹0.80/share
4 Jul 2016DividendDividend - Rs. - 0.8000 — ₹0.80/share
23 Sept 2015DividendDividend - Rs. - 0.8000 — ₹0.80/share
22 Sept 2014DividendDividend - Rs. - 0.8000 — ₹0.80/share
20 Sept 2013DividendDividend - Rs. - 0.8000 — ₹0.80/share
17 Sept 2012DividendDividend - Rs. - 0.8000 — ₹0.80/share
30 Aug 2011DividendDividend - Rs. - 0.7000 — ₹0.70/share
31 Aug 2010DividendDividend - Rs. - 0.6000 — ₹0.60/share
4 Sept 2009DividendDividend - Rs. - 0.3000 — ₹0.30/share
19 Sept 2008DividendDividend - Rs. - 0.5000 — ₹0.50/share
17 Sept 2007DividendDividend - Rs. - 0.5000 — ₹0.50/share
6 Jan 2006Otherother
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Strength
ROE of 20.3% is the highest in 7 years (prior range 9.9% to 16.5%).
Rule ROE_AT_MULTI_YEAR_HIGH
- EBITDA margin now
- 4.9%
- 8-year range
- 2.9–4.9%
- ROE FY2026
- 20.3%
- ROCE FY2026
- 25.6%
EBITDA margin of 4.9% is below the breweries and distilleries median of 7.6%.
ROE improved from 13.6% to 20.3% year on year.
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Strength
Net worth compounded at 13.8% a year over 7 years (₹1,315 → ₹3,250).
Rule NET_WORTH_COMPOUNDING
Operating cash flowNet profit
- Total debt
- ₹332 cr
- Operating cash flow ÷ net profit
- 1.23×FY2026
- Free cash flow
- ₹504 cr
- Current ratio
- 1.92×
Section 08 · Relative position
How does it compare with peers?
Ranked against 2 breweries & distilleries (FY2026, consolidated). No peer-relative rule fired for this company.
Not enough peers in this set report the underlying metrics yet for a ranking.
- P / E
- 81.2×TTM to Jun 26
- P / B
- 17.2×latest book
- P / S
- 2.7×TTM sales
- Earnings yield
- 1.2%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 94.5× · P/S 2.7× · ROE 19.9%. TTM and full-year profit differ by more than 15% — a one-off in a recent quarter is moving the trailing figure; weigh it against the full year.
Section 09 · The stock
How has the stock performed?
Watch
Over 5 years the stock returned 36.6% a year while profit compounded at 17.4% a year.
Rule STOCK_RAN_AHEAD
- 1-year return
- +46.5%
- 3-year return
- +254.5%
- 5-year return
- +376.0%
- From 52-wk high
- −9.8%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹4,479
- vs 200-day avg
- Above₹3,529
- RSI (14)
- 39.0neutral
- MACD histogram
- -20.7
- From 52-wk high
- −9.8%
- From 52-wk low
- +68.0%
- 30-day volatility
- 23.2%ann.
- 6-month return
- +62.3%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- WatchStock has run ahead of the businessOver 5 years the stock returned 36.6% a year while profit compounded at 17.4% a year.STOCK_RAN_AHEAD · conviction 58
- ConcernThinner margins than peersEBITDA margin of 4.9% is below the breweries and distilleries median of 7.6%.MARGIN_BELOW_PEER_MEDIAN · conviction 48
- Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8,058 | 9,418 | 10,367 | 12,471 | 12,744 | 15,484 | 17,099 | 20,976 |
| Total income | 8,071 | 9,427 | 10,387 | 12,482 | 12,753 | 15,493 | 17,103 | 20,992 |
| EBITDA | 364 | 381 | 429 | 413 | 368 | 515 | 679 | 1,037 |
| Profit before tax | 286 | 273 | 353 | 335 | 275 | 342 | 465 | 803 |
| Net profit | 188 | 228 | 271 | 252 | 204 | 256 | 345 | 603 |
| EPS (₹) | 14.1 | 17.0 | 20.3 | 19.7 | 15.3 | 19.1 | 25.8 | 45.0 |
| Net worth | 1,315 | 1,521 | 1,764 | 1,987 | 2,152 | 2,377 | 2,691 | 3,250 |
| Total debt | 323 | 399 | 272 | 190 | 697 | 737 | 631 | 332 |
| Operating cash flow | — | — | 377 | 220 | 224 | 183 | 362 | 742 |
| Free cash flow | — | — | 268 | 153 | −460 | −56 | 189 | 504 |
| Ratio | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Growth | ||||||||
| Revenue growth YoY | — | 16.9 | 10.1 | 20.3 | 2.2 | 21.5 | 10.4 | 22.7 |
| Profit growth YoY | — | 21.0 | 18.9 | -6.8 | -18.9 | 25.1 | 35.0 | 74.6 |
| Profitability | ||||||||
| EBITDA margin % | 4.5 | 4.0 | 4.1 | 3.3 | 2.9 | 3.3 | 4.0 | 4.9 |
| Net margin % | 2.3 | 2.4 | 2.6 | 2.0 | 1.6 | 1.7 | 2.0 | 2.9 |
| Return on equity % | 14.3 | 16.0 | 16.5 | 13.4 | 9.9 | 11.3 | 13.6 | 20.3 |
| Return on capital % | 19.6 | 18.5 | 19.0 | 16.5 | 11.8 | 13.5 | 16.7 | 25.6 |
| Leverage & cash | ||||||||
| Debt to equity | 0.25 | 0.26 | 0.15 | 0.10 | 0.32 | 0.31 | 0.23 | 0.10 |
| Cash flow ÷ profit | — | — | 1.39 | 0.87 | 1.09 | 0.72 | 1.05 | 1.23 |
| Current ratio | 1.57 | 1.69 | 1.98 | 2.46 | 1.73 | 1.71 | 1.63 | 1.92 |