ICICI Direct: Radico Khaitan’s Exports Pick-Up Leads To Positive Volume Growth In Q2
A woman holds a bottle of Radico Khaitan Ltd.’s Magic Moments vodka at the 2018 Sunburn Music Festival in Goa, India. (Photo: Radico Khaitan website)

ICICI Direct: Radico Khaitan’s Exports Pick-Up Leads To Positive Volume Growth In Q2


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ICICI Direct Report

Radico Khaitan Ltd. reported volume growth of 5% YoY in Q2 FY21 (in spite of 9-10% de-growth for the liquor industry).

Exports clocked 70% growth reaching 8-9% of revenues (ex-exports flattish volume growth).

Subsequently, revenues grew 11% to Rs 630 crore. Gross margin increased 90 basis points to 48.9% owing to better state and product mix and price hike in Telangana.

Subsequently, the company reported 180 basis points expansion in Ebitda margin at 17% supported by lower employee expense.

Click on the attachment to read the full report:

ICICI Direct Radico Company Update.pdf


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