On Wednesday, the stock of one of India’s leading liquor manufacturers experienced a 4.3% surge, reaching an intraday peak of ₹1,795 per share. This uptick was fueled by the company’s impressive 30% Year-on-Year growth in net profit. 

At 12:30 p.m., Radico Khaitan Ltd shares were trading at ₹1,750 per share, up 1.69% from the previous close price on the National Stock Exchange. The company belongs to the mid-cap category with a market capitalization of ₹ 23,342 crore. 

Radico Khaitan Ltd experienced substantial growth in its financial performance, with a noteworthy 46 percent surge in year-on-year revenue, rising from ₹792 crore in Q3FY23 to ₹1,161 crore in Q3FY24. Simultaneously, the net profit demonstrated a robust increase of 30 percent, climbing from ₹57 crore to ₹74 crore over the same period. 

Comparing Q3FY24 to the preceding quarter, operational revenue witnessed rise of 25 percent, escalating from ₹925 crores in Q2FY24 to ₹1,161 crores in Q3FY24. Additionally, the net profit showed a significant uptick of 19 percent, progressing from ₹62 crores to ₹74 crores, as per the company’s exchange filing. 

The company’s Gross Margin during the quarter was 41.8% compared to 41.3% in Q3 FY2023 and 44.1% in Q2 FY2024. Gross margins were impacted both on a Y-o-Y and Q-o-Q basis due to significant foodgrain inflation. Grain price inflation had a negative impact of 500 bps Y-o-Y and 370 bps Qo-Q on Gross Margins. 

Radico Khaitan Ltd shares have gained 30% in the last six months and 50% in a year. 

Additionally, Radico Khaitan Limited launched ‘Spirit of Victory 1999 Pure Malt Whisky’ for a price point of ₹ 5,000. Initially, the company released this product in the states of Uttar Pradesh and Haryana. 

Radico Khaitan manufactures industrial alcohol, Indian Foreign Liquor (IMFL), country liquor, and fertilizers in india. Some of the company’s famous brands include Magic Moments Vodka, 8 PM Premium Black Whisky, Morpheus Super Premium Brandy, Royal Ranthambore, and many more.

In the December quarter, the Company incurred ₹ 864 Crore on the Rampur Dual Feed and Sitapur Green Field projects. The Company has reduced its net debt of ₹ 669.5 crore in the December quarter from ₹ 731.1 crore in the September quarter. 

As of the december quarter of 2023, Marquee Investor Mukul Mahavir Agrawal holds 14,00,83 equity shares, representing a 1.05% stake in the company. 

Written by Omkar Chitnis 


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