Radico Khaitan - Premium Volumes Continue To Outshine Popular: ICICI Direct
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ICICI Direct Report
Radico Khaitan Ltd. in Q4 FY21 reported volume growth of 8% (excluding-Andhra Pradesh impact, double digit volume growth).
For FY21, the company’s volumes have degrown 8% (compared to a mid-teen de-growth for liquor industry).
In Q4 FY21, prestige and above segment volumes (28% of overall Indian-made foreign liquor volumes) grew 15%.
The company reported revenue growth of 19% YoY to Rs 695 crore.
Ebitda grew 23% YoY to Rs 101 crore driven by improved margin profile.
Ebitda margin expanded 50 basis points from 14.1% to 14.6% due to gross margin improvement and cost rationalisation.
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