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Radico Khaitan FY2026 revenue up 24.7% to ₹6,050.4 crore as 8PM and Magic Moments lift value to ₹60,000 crore

Our read

Radico Khaitan will more likely than not clear its ₹106.1 crore net debt in FY2027 on Magic Moments and 8PM volume growth, though a rival vodka price response is the main risk.

For operators

Magic Moments sold 3.25 million cases in Q1 FY27, with a reported Indian vodka share above 60%, so spirits retailers and distributors should expect heavy pull-through on Magic Moments and 8PM and give them shelf and stock priority.

Watch

Net debt below the ₹106.1 crore reported, by the FY2027 results, would mean the net-debt-free target is met and lenders lose leverage over expansion capex.

The report,

Radico Khaitan's profit after tax for FY2026 was ₹600.3 crore, up 75.9%. A profile traces how a distillery bought for ₹16 lakh in 1972 grew into a company worth roughly ₹60,000 crore by building its own brands.

Radico Khaitan FY2026: revenue, EBITDA and profit after tax
FY2026 net revenue from operations
₹6,050.4 crore
up 24.7%
FY2026 EBITDA
₹1,018.5 crore
FY2026 profit after tax
₹600.3 crore
Net debt at Q1 FY27
₹106.1 crore

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Reported figures

From the report. Source details below

FY2026 EBITDA: ₹1,018.5 crore
Magic Moments Q1 FY27 volume: 3.25 million cases
Magic Moments Indian vodka market share: more than 60%
Net debt at Q1 FY27: ₹106.1 crore

Why it matters to operators and investors

With net debt at ₹106.1 crore and a net debt free target for FY2027, Radico Khaitan will have balance-sheet room to fund acquisitions or brand launches, and Magic Moments' vodka leadership makes it a tough rival and a hard-to-replicate distribution partner.

What to watch next

  • Magic Moments volumes against the 3.25 million cases sold in Q1 FY27
  • Indian vodka share holding above the 60% reported as rivals respond
  • EBITDA margin trend against FY2026 EBITDA of ₹1,018.5 crore
  • Rival vodka launches or price cuts, and state excise changes, in the coming quarters

Likely next moves

Our read of what comes next — analysis, not reported by the source.

  • Radico Khaitan is likely to put surplus cash into paying down the ₹106.1 crore net debt before adding any large new borrowing.
  • Expect Radico Khaitan to keep pushing Magic Moments volumes and the premium 8PM range as its main growth drivers through FY2027.
  • Larger spirits rivals may respond to Magic Moments' reported vodka share above 60% with promotions or new vodka launches.
  • Lenders are likely to treat Radico Khaitan as a stronger credit and offer finer terms if net debt falls to zero.
  • State excise authorities may keep setting the pricing and distribution conditions that decide how far Radico Khaitan can pass on costs.

The source

Source Read the source at Financial Express

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