印度Radico Khaitan一季度毛利润增长27.7% 高端产品线驱动创纪录开局

Indian spirits company Radico Khaitan kicked off the start of its 2027 financial year (FY27) with another 'record' quarter, led by its premium portfolio.

In FY2026, the New Delhi-based company reported 'record' sales throughout the year, including in the first quarter (Q1) and Q3. Radico Khaitan continued its success in Q1 FY2027, which ran for the quarter ending 30 June 2026, by increasing its gross profit by 27.7% year on year to INR 826.8 crore (US$86.2 million). Earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 50.9% to INR 348.1 crore (US$36.4m), while net revenue from operations jumped by 11.8% to INR 1,683.7 crore (US$175.9m). The company saw its total volume of Indian-made foreign liquor (IMFL) sales increase to 10m nine-litre cases, representing an uplift of 2.8% year on year. Radico's 'Prestige and Above' portfolio led the company's sales volume with 53.1% growth, ending the period with 5.22m cases sold. In terms of revenue, the division rose by 36%, while 'Regular and Others' – mass-market brands like 8PM and Old Admiral Brandy – fell by 17.3%. Total comprehensive income rose by 70.5% to IRN 225.4 crore (US$23.5m). According to Lalit Khaitan, chairman and managing director of Radico Khaitan, the company carried forward last year's momentum with a strong start to FY2027. The growth was "underpinned by sustained premiumisation, disciplined execution" and the implementation of the company's long-term strategy. Lalit added that the strong performance of the company's Prestige and Above portfolio "reflects the evolving aspirations of Indian consumers" and "reinforces" the company's strategy in recent years. He described the results as "encouraging" in a "challenging global environment", with its Q1 boosted by "favourable industry trends". Additionally, the company noted that progressive regulatory reforms in key states, an improved policy environment, and the ongoing shift towards premium brands create 'significant' opportunities for spirits companies. Radico bets on vodka For Radico, vodka represents one of the rising categories. Abhishek Khaitan, managing director of Radico Khaitan, said: "One of the most significant structural shifts underway in the Indian IMFL industry is the rapid growth of the vodka category, with its saliency increasing from 4.6% in Q1 FY26 to 6.1% in Q1 FY27. This reflects changing consumer preferences, evolving consumption occasions and the growing preference for premium white spirits. "Vodka's versatility, strong cocktail compatibility and increasing acceptance among younger consumers are driving category expansion, while existing traditional consumers are increasingly choosing vodka across different social occasions. As the clear market leader, Magic Moments is well-positioned to capitalise on this opportunity, delivering an impressive 43% volume growth during the quarter. "Our flavour-led innovation strategy continues to differentiate the brand, deepen consumer engagement and reinforce our leadership in this rapidly expanding category." In addition to Magic Moments, the company's After Dark Blue Whisky benefited from new packaging, which Abhishek expects to enhance the brand's premium appeal. The brand reportedly experienced 63% growth in FY26 and crossed 3.1m case sales. Radico Khaitan's 8PM brand, on the other hand, continues to occupy a spot on the top 10 best-selling Indian whiskies of 2025. However, its volumes fell by 4.8% to 9.2m cases. In January this year, the company's board of directors approved the creation of a Scotch whisky division, which will be 100% owned by the firm.