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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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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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