Dolat Capital: Radico Khaitan Upping The Competitive Ante; Growth + PE Re-Rating Story
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Dolat Capital Report
Radico Khaitan Ltd. annual report highlighted that it registered a healthy 12.5% volume growth in FY20 against industry growth of meager 0.5%.
Premiumisation remains the key focus area and a growth driver. 11 out of 12 brands launched in last decade were in premium category. Radico Khaitan’s brand portfolio is entirely organically developed.
The company has four millionaire brands and two more in the pipeline. Radico Khaitan was ranked as the number one mid -cap company in Fortune India’s “The Next 500” viz. the most promising companies in India, outside the Fortune 500.
We remain constructive on Radico Khaitan story led by expansion in addressable opportunity in premium whisky (90-100 million cases), and deleveraging trajectory.
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