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India
Reported ownership for FY2027-Q2 as of 2026-09-30.
As of 06 Nov 2026, 03:30 pm
For Q2 FY27 (ended September 30, 2026), Radico reported record revenue of ₹1,746 crores and EBITDA of ₹356 crores, reflecting a 20.4% margin. IMFL volumes exceeded 10 million cases. Management upgraded full-year Prestige & Above volume growth guidance to 30% and reaffirmed an EBITDA margin target of approximately 20%.
Radico benefits from a market divergence where premium spirits drive growth while budget segments face pressure. Shriram Research identified Radico as a Diwali Muhurat Trading pick with an estimated upside potential of 22%, citing attractive valuations and growth prospects amidst improved corporate earnings and policy support.
As of November 6, 2026, RADICO closed at ₹4,515.20 with a market cap of approximately ₹60,627 crores. The stock has gained +38.8% YTD and +41.7% over the past year. Immediate resistance lies near ₹4,527.10, while support is observed around ₹4,488.20. The monthly trend remains bullish, though the daily trend is currently bearish.
As of 06 Nov 2026, 03:30 pm
Showing 3 of 6 candles
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price swings are higher than typical
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Income | ₹5,059 crore | PEAK₹5,869 crore | ₹5,588 crore |
| Expenses | ₹4,873 crore | PEAK₹5,572 crore | ₹5,280 crore |
| Profit Before Exceptional Items And Tax | ₹186 crore | ₹298 crore | PEAK₹308 crore |
| Tax Expense | ₹47.4 crore | ₹75.4 crore | PEAK₹76.8 crore |
| Profit Loss For Period | ₹140 crore | ₹230 crore | PEAK₹232 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹10.43 per share | ₹17.15 per share | PEAK₹17.34 per share |
Radico Khaitan reported Q2 FY27 revenue from operations of ₹5,583 crore, up 10.4% year on year but down 4.9% from Q1 FY27. Profit before tax rose 3.3% sequentially to ₹308 crore as expenses declined more than revenue, while profit for the period increased 1.2% to ₹232 crore.
Profit before tax was ₹308 crore, versus ₹298 crore in Q1 FY27 and ₹186 crore in Q2 FY26. Tax expense was ₹76.8 crore, compared with ₹75.4 crore in Q1 FY27. Profit for the period was ₹232 crore, including ₹231 crore from continuing operations.
Basic earnings per share was ₹17.34, compared with ₹17.15 in Q1 FY27 and ₹10.43 in Q2 FY26. Finance costs declined to ₹11.4 crore from ₹11.7 crore in Q1 FY27 and ₹16.3 crore in Q2 FY26.
Trailing 12-month EPS was ₹59.47, with a reported price-to-earnings ratio of 72.1 times on that basis.
Q2 FY27 delivered year-on-year revenue growth and a sequential increase in pre-tax profit despite lower sequential revenue, as expenses fell by more. Operating cash generation was strong, but quarter-end cash was below March levels while inventories and receivables were higher—balances to monitor alongside earnings growth.
Disclosed bulk and block transactions involving Radico Khaitan, shown for the latest 90 days.
Exchange disclosures and regulatory announcements for Radico Khaitan.
Radico Khaitan Limited filed the transcript of its Q2 FY27 earnings conference call with the NSE and BSE on November 3, 2026. The call, held on October 28, 2026, reported record performance for the quarter ended September 30, 2026, with IMFL volumes exceeding 10 million cases, revenue of Rs. 1,746 crores, and EBITDA of Rs. 356 crores (20.4% margin). Management upgraded full-year Prestige & Above volume growth guidance to 30% and reaffirmed an EBITDA margin target of approximately 20%. Key operational updates include a structural shift in vodka consumption (category share reached 6.3%), strong growth in Karnataka following duty reductions, and expansion into four major UK airports. Leadership changes were announced: Dilip Banthiya joined the Board as Executive Director and CFO, and Saket Somani was elevated to Deputy CFO.
Radico Khaitan Limited (NSE: RADICO, ISIN: INE944F01028) filed a routine disclosure with the National Stock Exchange on November 3, 2026, submitting transcripts of an earnings or quarterly conference call. The underlying call concluded on October 28, 2026, at 15:57:00, following prior intimation to the exchange on October 14, 2026. The company uploaded the transcripts to its website on November 3, 2026, at 13:42:00.
RADICO KHAITAN LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
Radico Khaitan Limited scheduled a 1x1 interaction between its senior management and Premji Investments on 3 November 2026. The company stated that it does not intend to discuss any unpublished price sensitive information at the meeting; the schedule is subject to change due to exigencies on the part of the investor or the company.
Radico Khaitan Limited submitted a copy of newspaper advertisements published on October 28, 2026, to the National Stock Exchange of India Limited (NSE) and BSE Limited. The advertisements, published in Business Standard (English) and Hindustan (Moradabad edition, Hindi), disclose the Statements of Unaudited Standalone & Consolidated Financial Results for the quarter and half year ended September 30, 2026. This submission is made pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following an initial letter dated October 27, 2026.
Radico Khaitan Limited made available on its website the audio recording of its earnings conference call for analysts and investors held on October 28, 2026, concerning the unaudited financial results for the quarter and half year ended September 30, 2026. This is a routine disclosure; the filing reports no substantive business decision or outcome.
Radico Khaitan Limited (NSE: RADICO, ISIN: INE944F01028) filed an announcement with the NSE on October 28, 2026, disclosing the audio recording of its Q2 FY2027 earnings call. The company had previously intimated the exchange of this earnings call on October 14, 2026. The audio recording concluded at 15:57:00 on October 28, 2026, and was uploaded to the company’s website at 17:15:00 on the same date.
Radico Khaitan Limited’s Board of Directors, meeting on October 27, 2026, approved the Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026. Statutory auditors Walker Chandiok & Co LLP conducted limited reviews and issued unmodified conclusions. The Company allotted 57,715 equity shares (quarter) and 91,132 equity shares (half-year) upon exercise of Employee Stock Options under ESOP Scheme 2006, and granted 60,000 new stock options at an exercise price of Rs. 2,838.07 per share.
Recent market and company developments associated with Radico Khaitan.
Radico Khaitan, Porter, InMobi, and Apollo Tyres have announced key finance leadership changes, including the appointment of Saket Somani as deputy CFO at Radico Khaitan and Gaurav Jain as CFO at Porter. InMobi elevated Hema Namburi to Group CFO, while Apollo Tyres appointed Ravi Kumar Shingari as its new chief financial officer. These developments reflect ongoing shifts in corporate finance leadership across the alcoholic beverages, logistics, technology, and automotive sectors.
Shriram Research has identified 11 stocks, including Eternal Limited, ICICI Bank, and Titan Company Limited, as Diwali Muhurat Trading picks for Samvat 2083, citing improved corporate earnings and policy support as potential market tailwinds. The brokerage highlighted Aeroflex Industries Limited with the highest upside potential of 32%, followed by Radico Khaitan at 22% due to attractive valuations and growth prospects. These selections aim to reward investors who focus on fundamentals amidst a backdrop of negative returns in the previous fiscal year.
Shriram Research has released a Diwali 2026 stock basket comprising 11 equities across banking, healthcare, consumer, industrial, and technology sectors, projecting an average upside potential of approximately 19% from November 2 closing prices. The recommendation highlights specific growth drivers for each company, such as Aeroflex’s data centre demand, ICICI Bank’s strong loan growth, and L&T’s record order inflows. This analysis provides investors with targeted insights into entities expected to benefit from sector-specific trends like liquid cooling, premiumisation, and EV exposure.
India's liquor market is experiencing a divergence where premium spirits and beer are driving growth for companies like Radico Khaitan and United Breweries, while budget segments face pressure. This trend was evident in the September quarter earnings, with United Spirits reporting a sharp decline in lower-priced spirit sales despite buoyant prestige segment performance.
Nuvama Institutional Equities named United Breweries, ITC, and Asian Paints as top stock picks for the next 12 months, upgrading ITC to a buy rating based on anticipated favorable tax conditions ahead of the Union Budget. The brokerage highlighted Marico’s diversification and growth triggers, Trent’s recovery from a tough cycle, and United Breweries’ superior volume growth compared to peers in the alcoholic beverage sector. Additionally, Asian Paints and Pidilite Industries are expected to benefit from price hikes and crude oil corrections, while Hindustan Unilever is noted for gaining market
Mirae Asset Sharekhan has identified 15 stocks across large-, mid-, and small-cap segments for Samvat 2083, citing growth prospects in banking, telecom, infrastructure, and consumer goods. The selection includes major entities such as Bharti Airtel, ICICI Bank, and Larsen & Toubro, alongside smaller firms like DEE Development Engineers, which carries the highest estimated upside of 37%. Target prices and implied upside percentages vary significantly across the basket, ranging from 12% for Navin Fluorine International to 37% for DEE Development Engineers.
Analysts from HDFC Securities, Tradebulls Securities, and Anand Rathi Share and Stock Brokers have issued recommendations for specific equities including DLF, Zensar Technologies, Coforge, BSE, and ITC, citing technical breakouts and accumulation patterns, while advising a sell position for Radico due to negative momentum signals.
Radico Khaitan Ltd. has incorporated Radico Khaitan Scotland Ltd. to explore opportunities in whisky distillation, maturation, and trading to strengthen its malt whisky supply chain and expand overseas operations. The company clarified that this move does not alter the Indian provenance of its Rampur single malt whisky, which will continue to be distilled and matured in India.
Comprehensive Section Breakdown for Radico Khaitan
Strategic Vision: Indian manufacturer of Indian Made Foreign Liquor and industrial alcohol.
• Integrated manufacturing and bottling capabilities.
• Established brand portfolio across multiple liquor categories.
Revenue from operations was ₹285 crore lower than Q1 FY27’s ₹5,868 crore. Expenses fell ₹292 crore, or 5.2%, to ₹5,280 crore. Compared with Q2 FY26, revenue grew 10.4% and expenses rose 8.4%.
Q2 FY27 expenses included ₹927 crore of materials consumed, ₹11.5 crore of purchases of stock in trade, ₹66.2 crore of employee benefit expense and ₹43.2 crore of depreciation. The change in inventories of finished goods, work in progress and stock in trade was negative ₹31.9 crore.
Operating cash flow was ₹378 crore in Q2 FY27. Investing activities used ₹155 crore and financing activities used ₹240 crore; reported free cash flow was ₹223 crore. Cash and cash equivalents were ₹53.9 crore at 30 September 2026, down from ₹70.3 crore at 31 March 2026.
Equity attributable to owners of the parent increased to ₹3,670 crore at 30 September 2026 from ₹3,316 crore at 31 March 2026. Current borrowings declined to ₹247 crore from ₹313 crore. Over the same dates, inventories rose to ₹1,261 crore and trade receivables to ₹1,517 crore. Noncurrent investments stood at ₹245 crore at quarter-end.
Category: Manufacturing
The primary business segment is the manufacturing, bottling, and marketing of branded alcoholic beverages.
Key Products & Services: 8 PM Whisky • Royal Ranthambore • Magic Moments • Contessa Rum • 1965 Spirit of Victory • Morpheus Premium Brandy
Category: Manufacturing
Manufactures Extra Neutral Alcohol (ENA) and Rectified Spirit, sold to other liquor manufacturers or utilized for industrial processes.
Core Thesis: Integrated distillation facilities support both branded alcoholic beverage production and industrial alcohol supply.
• Integrated Distillation Facilities: Operates integrated distillation facilities in Rampur, Uttar Pradesh, and Aurangabad, Maharashtra, handling molasses and grain distillation. • Automated Bottling: Facilities include automated bottling lines for efficient product packaging. • Product Diversification: Offers a diverse portfolio across whisky, vodka, rum, and brandy categories.