Radico Khaitan, the prominent Indian distiller behind premium brands like Rampur Whisky and Jaisalmer Gin, has begun restoring its supply chains to West Asia. Shipments to the Gulf region, which had stalled due to regional conflicts in early 2024, gradually resumed in late April 2026.
Despite the temporary slowdown in the West Asian market, the company reported record export sales for the fiscal year ending March 31, 2026, driven by strong performance in Africa, Asia-Pacific, and the Global Travel Retail (duty-free) sectors.
Financial Performance & Growth Drivers
Radico’s shift toward “Prestige & Above” brands continues to pay off, with high-end spirits leading the revenue charge.
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Net Revenue: Expanded by 25% to ₹60.5 billion ($637.58 million).
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EBITDA Margin: Rose significantly to 16.8% (up from 13.8% the previous year).
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Export Contribution: International sales now account for 9% to 10% of total revenue and 5% to 6% of sales volumes.
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Top Performers: Demand was notably high for premium labels like Royal Ranthambore and Sangam.
Global Strategy & Premiumization
The company is navigating a “less but better” consumer trend, where drinkers are choosing refined, expensive products over volume-based “regular” spirits.
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Market Recovery: While March and most of April saw zero shipments to the Gulf, the resumption of trade is expected to bolster Q1 FY27 results.
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Future Outlook: Managing Director Abhishek Khaitan projects revenue growth of over 15% for the current fiscal year (FY27), with margins expected to expand by another 120–125 basis points.
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Cost Headwinds: Growth targets remain ambitious despite persistent challenges in glass procurement and global freight costs.
Stock Market Reaction (As of May 07, 2026)
Following the positive export news and strong earnings report, Radico Khaitan’s stock saw a healthy uptick:
| Metric | Value |
| Current Price | ₹3,459.00 |
| Day Change | +₹101.80 (3.03%) |
| 52-Week High | ₹3,695.00 |
| Market Cap Category | Mid-to-Large Cap (FMCG/Liquor) |
Analyst View: Sector experts from firms like Motilal Oswal recently tagged Radico Khaitan as a “top bet” in the consumer space, noting that favorable excise policy changes across several Indian states are providing a domestic tailwind alongside the export recovery.
