Radico Khaitan - Focus On Premiumisation Aiding Q3 Margin Profile: ICICI Direct

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ICICI Direct Report

Radico Khaitan Ltd. reported volume growth of approximately 1% YoY in Q3 FY21 compared to industry de-growth of 1%.

Prestige and above segment continued to perform well with volume growth of 5% YoY.

The company reported revenue growth of 5.6% YoY to Rs 684 crore. Ebitda grew 21% YoY to Rs 124.6 crore driven by improved margin profile.

Ebitda margin expanded 235 basis points from 15.8% to 18.1% due to gross margin improvement and cost rationalisation.

Lower Interest cost and higher other income enabled the company to report 45% YoY growth in net profit to Rs 80.5 crore.

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