RADICO KHAITAN TARGETS PREMIUM GROWTH IN FY27

Radico Khaitan is projecting a stronger FY27, driven by premiumisation, rising demand for white spirits, and margin expansion. With net sales crossing Rs 6,000 crore in FY26 and EBITDA topping Rs 1,000 crore, the company expects 20 percent growth in premium volumes and robust performance from its luxury and vodka portfolios

Radico Khaitan Limited is setting its sights on a stronger FY27, banking on premiumisation and the rising popularity of white spirits to fuel growth. Managing Director Abhishek Khaitan outlined the company’s ambitions, forecasting a 20 percent increase in premium volumes and 25 percent value growth in its luxury portfolio, alongside a 120 basis point margin expansion. The company reported an EBITDA margin of 16.8 percent in FY26 and expects this to improve further in the coming year.  

The liquor major, which owns brands such as Rampur Indian Single Malt, Jaisalmer Indian Craft Gin, Magic Moments Vodka, Morpheus Brandy, and 8 PM Whisky, crossed Rs 6,000 crore in net sales during FY26, with EBITDA exceeding Rs 1,000 crore for the first time. Its luxury portfolio, including Rampur and Royal Ranthambore, generated Rs 475 crore in turnover last year and is expected to grow by 25 percent over the next two to three years. The recent launch of Rampur 1943 Virasat, priced between Rs 3,500 and Rs 4,000, reflects the company’s intent to cater to a wider spectrum of single malt consumers. Rampur’s partnership with Air India on international flights further underscores its premium positioning.  

In FY26, Radico Khaitan sold 36.62 million cases, with its Prestige and Above portfolio accounting for 16.7 million cases, or 45.6 percent of total volumes. This segment contributed Rs 3,063.7 crore, representing 70.3 percent of the company’s IMFL revenue. Brands such as After Dark, Magic Moments, and Morpheus Brandy continue to anchor this portfolio.  

Khaitan also highlighted the growing preference for white spirits, particularly vodka, in India. While vodka accounts for 28 percent of the global spirits market, its share in India has risen from 3 percent three years ago to 6 percent between April and June this year. “This is a huge shift in the liquor industry… I think white spirits are the future,” he said, noting that younger consumers and women are driving the category’s growth. Magic Moments Vodka, which commands nearly 60 percent of India’s vodka market, sold over one million cases monthly between April and June, with quarterly sales rising 45 percent year-on-year to 3.3 million cases. Flavoured variants such as mango, jamun, and thandai remain particularly popular among younger drinkers.  

Exports also remain a focus, contributing around 8 percent of total sales value. Radico Khaitan’s products are now available in 100 countries and 63 duty-free outlets, with plans to expand to 100 duty-free shops. Khaitan noted growing intrigue around Indian brands abroad, particularly single malts, which are gaining traction among foreign consumers.  

On capital expenditure, the company has no major investment plans for FY27, with spending expected to remain between Rs 150 and 175 crore, largely directed towards maintenance and brand-related activities such as malt maturation and barrel facilities. This disciplined approach reflects Radico Khaitan’s confidence in sustaining growth through premiumisation and portfolio strength.