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Radico Khaitan's Old Admiral Brandy Crosses 10 Million Cases Sales Milestone in FY26
Radico Khaitan has announced that its Old Admiral Brandy brand achieved a significant milestone by crossing 10 million cases in sales during FY26. This represents a massive jump from the 5.6 million cases sold in FY25, nearly doubling the volume within a year. The growth was primarily driven by focused distribution and market support in the key southern states of Andhra Pradesh, Telangana, and Karnataka. This achievement underscores the brand's strong consumer loyalty and its scaling capabilities within the Indian Made Foreign Liquor (IMFL) category.
Key Highlights
Old Admiral Brandy sales surpassed 10 million cases in FY26
Significant volume growth compared to 5.6 million cases recorded in FY25
Strengthened market leadership in Andhra Pradesh, Telangana, and Karnataka
Growth attributed to consistent quality, value proposition, and focused distribution initiatives
💼 Action for Investors
Investors should take this as a positive sign of Radico's brand-building strength and market share expansion; watch for the impact of this volume growth on the company's revenue and margins in the upcoming financial results.
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Radico Khaitan FY25 Revenue Hits ₹4,851 Cr; Premium Segment Value Contribution at 69.4%
Radico Khaitan's February 2026 presentation highlights a successful transition toward a premium-led growth model, with FY2025 IMFL volumes rising 9% to 31.4 million cases. The Prestige & Above (P&A) segment is the primary driver, now contributing 69.4% of total value and showing a 13% volume CAGR since FY2019. The company has successfully doubled its production capacity to 321 million liters, securing long-term raw material supply. Management expects significant margin expansion in FY2026 due to the combined impact of premiumization and stabilizing raw material costs.
Key Highlights
FY2025 IMFL volume grew 9% YoY to 31.4 million cases, with Prestige & Above (P&A) volume share at 46.1%.
P&A segment value contribution reached 69.4%, with realization per case rising to ₹1,801 from ₹1,307 in FY2019.
Total manufacturing capacity doubled to 321 million liters following the completion of Rampur and Sitapur expansions.
FY2025 Net Revenue grew 18% YoY to ₹4,851 Crore with an EBITDA margin of 13.8%.
Export footprint expanded to over 100 countries, contributing 9% to total IMFL sales value.
💼 Action for Investors
Investors should focus on the company's margin expansion trajectory in FY2026 as it benefits from a higher luxury brand mix and raw material tailwinds. The stock remains a key beneficiary of the structural premiumization trend in the Indian alcobev sector.
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Radico Khaitan Elevates Internal Talent to CSO and CMO Roles; COO Amar Sinha Steps Down
Radico Khaitan has announced a leadership progression to drive its premiumisation and global expansion strategy. The company elevated Sudhir Upadhyay, a veteran with 25 years of experience, to Chief Sales Officer and Kunal Madan, with 20 years of experience, to Chief Marketing Officer. These internal promotions coincide with the departure of Amar Sinha, who is stepping down from his role as Chief Operating Officer. The management transition aims to leverage the company's 321 million litre capacity and presence in over 100 countries.
Key Highlights
Sudhir Upadhyay promoted to Chief Sales Officer after 10+ years at the company and 25 years in the industry.
Kunal Madan elevated to Chief Marketing Officer to lead brand architecture and premiumisation strategy.
Amar Sinha steps down as Chief Operating Officer following a significant tenure during the company's growth phases.
The company maintains a total owned production capacity of 321 million litres across multiple distilleries.
Radico Khaitan currently operates 44 bottling units and exports its brand portfolio to over 100 countries.
💼 Action for Investors
Investors should monitor the new leadership's ability to execute the premiumisation strategy and maintain growth momentum following the COO's exit. The focus on internal promotions suggests organizational stability and continuity in long-term strategic goals.
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Radico Khaitan COO Amar Sinha Resigns Effective March 31, 2026
Radico Khaitan Limited has announced the resignation of its Chief Operating Officer, Mr. Amar Sinha, who will step down effective March 31, 2026. The resignation, cited for personal reasons, was accepted by the Nomination and Remuneration Committee on February 13, 2026. Mr. Sinha has been a key part of the senior management team, contributing to the company's growth journey. The company has expressed its appreciation for his contributions and noted that he will assist in a smooth transition of responsibilities.
Key Highlights
Mr. Amar Sinha has resigned from the position of Chief Operating Officer (COO) effective March 31, 2026.
The resignation was formally accepted by the Nomination and Remuneration Committee on February 13, 2026.
The departure is attributed to personal reasons as per the official resignation letter.
Mr. Sinha has committed to ensuring an orderly transition and full cooperation in handing over his duties.
💼 Action for Investors
Investors should monitor the company's upcoming announcements regarding the appointment of a successor to ensure operational continuity. While the resignation is for personal reasons, the loss of a senior executive requires a watch on the company's execution strategy.
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Radico Khaitan Q3 FY26: Record 9.75M Case Volumes and 17.2% EBITDA Margin
Radico Khaitan reported its highest-ever quarterly performance in Q3 FY26, driven by a 16.7% YoY growth in total IMFL volumes to 9.75 million cases. The company's premiumization strategy is yielding results, with the Prestige & Above category growing 26% in volume and gross margins expanding by 350 bps to 46.9%. Profitability improved significantly with EBITDA reaching ₹265 crores at a 17.2% margin, supported by stable raw material costs and strong growth in brands like Royal Ranthambore and After Dark. Additionally, the company reduced net debt by ₹209 crores and announced a new subsidiary in Scotland to secure its malt supply chain.
Key Highlights
Highest-ever quarterly IMFL volume of 9.75 million cases, marking a 16.7% YoY increase.
Prestige & Above category grew 26% in volume and 29% in value, with realizations improving by 2.8%.
EBITDA margin expanded by 300 bps YoY to 17.2%, with net revenue reaching ₹1,547 crores.
Market share in Andhra Pradesh surged to 26% from 15% in the previous year's quarter.
Net debt reduced by ₹209 crores since March 2025, with a target to be debt-free by FY27.
💼 Action for Investors
Investors should maintain a positive outlook given the strong premiumization trajectory and significant debt reduction. The strategic move to establish a Scotland subsidiary for malt sourcing secures the supply chain for their high-margin luxury portfolio.
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Radico Khaitan Q3 FY26: Net Profit Jumps 61% YoY; Net Debt Reduced by ₹208.5 Crore
Radico Khaitan delivered its best-ever quarterly performance in Q3 FY2026, with Net Revenue rising 19.5% YoY to ₹1,546.7 Crore. Profitability saw a massive boost as EBITDA grew 44.9% to ₹265.4 Crore and Net Profit jumped 61.1% to ₹153.7 Crore. The Prestige & Above segment remains the primary growth engine, with volumes increasing 25.9% YoY. Furthermore, the company significantly deleveraged its balance sheet, reducing net debt by ₹208.5 Crore since the start of the fiscal year.
Key Highlights
Net Revenue from Operations increased 19.5% YoY to ₹1,546.7 Crore, driven by strong IMFL volumes.
EBITDA surged 44.9% YoY to ₹265.4 Crore with margins expanding 300 bps to 17.2%.
Prestige & Above segment volume grew 25.9% YoY, now contributing 73.6% of total IMFL revenue.
Net Debt significantly reduced to ₹365.0 Crore, a decrease of ₹208.5 Crore from March 2025 levels.
Gross Margin expanded by 350 bps YoY to 46.5% due to benign raw material costs and premiumization.
💼 Action for Investors
The stock remains a strong play on the Indian premiumization story, supported by significant deleveraging and robust margin expansion. Investors should maintain a positive outlook given the company's successful transition toward a luxury-led portfolio.
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Radico Khaitan to Incorporate Wholly Owned Subsidiary in Scotland for Scotch Production
Radico Khaitan's Board has approved the incorporation of a 100% wholly owned subsidiary in Scotland, United Kingdom, tentatively named Radico Khaitan Scotland Ltd. The new entity will focus on the distillation, maturation, storage, and trading of Scotch whisky and other spirits. Furthermore, the subsidiary is intended to acquire and operate a distillery within Scotland, marking a significant step into the premium Scotch market. This move aligns with the company's long-term strategy to enhance its global spirits portfolio and premiumization efforts.
Key Highlights
Approval for 100% ownership of a new subsidiary to be incorporated in Scotland, UK.
Business scope includes distillation, maturation, and trading of Scotch and spirits.
Strategic intent to acquire, own, and operate a distillery in the United Kingdom.
Initial capital subscription will be in cash, starting with minimum regulatory requirements.
The move strengthens Radico's position in the high-margin international spirits segment.
💼 Action for Investors
This is a positive strategic expansion that could enhance Radico's premium brand image and margins over the long term. Investors should monitor future updates regarding the specific distillery acquisition and the scale of capital expenditure planned for the UK operations.
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Radico Khaitan Q3 FY26 Standalone Net Profit Surges 61.6% YoY to ₹155.1 Crore
Radico Khaitan reported a robust performance for Q3 FY2026, with standalone revenue from operations growing 22.1% YoY to ₹5,423.84 crore. Net profit witnessed a significant jump of 61.6% YoY to ₹155.09 crore, despite an exceptional non-recurring expense of ₹9.56 crore related to new labor code provisions. The company also successfully completed the acquisition of a 47.5% stake in D'YAVOL Spirits during the quarter, marking a strategic expansion. Profitability growth significantly outpaced revenue growth, indicating improved operational efficiencies.
Key Highlights
Standalone Revenue from operations increased 22.1% YoY to ₹5,423.84 crore from ₹4,440.90 crore.
Net Profit for the quarter rose 61.6% YoY to ₹155.09 crore compared to ₹95.98 crore in Q3 FY25.
Exceptional charge of ₹9.56 crore recorded due to the impact of New Labour Codes on gratuity and leave encashment.
Completed acquisition of 47.5% equity stake in D'YAVOL Spirits B.V. and D'YAVOL Spirits Private Limited.
Basic EPS improved to ₹11.59 for the quarter, up from ₹7.18 in the corresponding previous year quarter.
💼 Action for Investors
The strong double-digit growth in both revenue and profit suggests robust market demand and effective premiumization. Investors should maintain a positive outlook while monitoring the integration of the D'YAVOL brand and the impact of input costs on future margins.
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Radico Khaitan's Rampur Whisky Ranks #4 Globally in Top Trending Whiskies 2026 Report
Radico Khaitan's flagship premium brand, Rampur Indian Single Malt, has been ranked #4 among the world's Top Trending Whiskies in the prestigious Drinks International Report 2026. This ranking, driven by insights from influential global bars, underscores the brand's rising demand and acceptance in international luxury markets. The company currently exports to over 100 countries and maintains a total owned distillation capacity of 321 million litres. This recognition validates Radico's strategic shift toward high-margin premiumization and strengthens its competitive position against global spirits giants.
Key Highlights
Rampur Indian Single Malt ranked #4 in the Top Trending World Whiskies list for 2026.
The ranking is based on the Drinks International Report, a key global benchmark for the spirits industry.
Radico Khaitan now exports its diverse brand portfolio to more than 100 countries.
The company operates with a total owned capacity of 321 million litres across its distilleries.
Management confirms a continued focus on premiumization and international brand building.
💼 Action for Investors
Investors should view this as a positive validation of Radico's premiumization strategy, which typically yields higher margins than bulk spirits. Monitor the 'Prestige & Above' segment growth in upcoming earnings to see if this global prestige translates into domestic and export sales momentum.
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Radico Khaitan Launches Super-Premium Kohinoor Reserve Dark Rum in India; Prices up to INR 4,635
Radico Khaitan is expanding its super-premium portfolio by launching 'The Kohinoor Reserve Indian Dark Rum' in the domestic market following a successful global debut. The product is a triple-aged rum matured in Bourbon, Cognac XO, and Vermouth casks, targeting the high-margin luxury spirits segment. Initial rollout begins in Uttar Pradesh at INR 4,350 per 750ml, with Karnataka and Delhi to follow. This launch aligns with the company's strategic focus on premiumization to drive EBITDA margin growth.
Key Highlights
Launch of triple-aged super-premium rum in India after successful international market entry.
Domestic pricing set at INR 4,350 (UP), INR 4,635 (Karnataka), and INR 3,750 (Delhi) for 750ml.
Unique maturation process involving American Bourbon, Cognac XO, and Vermouth casks.
Strategic move to capture the growing demand for complex, high-end dark rum expressions in India.
Leverages the company's 321 million litre total owned capacity and heritage distilling expertise.
💼 Action for Investors
Investors should view this as a positive step in Radico's premiumization journey, which is critical for long-term margin expansion. Monitor the brand's traction in the 'Prestige & Above' segment as it competes with international luxury spirits.