Radico Khaitan targets 20% premium volume growth in FY27 on premiumisation push
Radico Khaitan aims for 20% premium volume growth and 120 bps margin expansion in FY27, led by white spirits and luxury brands. FY26 net sales crossed ₹6,000 cr with EBITDA above ₹1,000 cr (16.8% margin); Magic Moments vodka up 45%, luxury turnover at ₹475 cr.
What happened
Radico Khaitan targets 20% premium volume growth and 120 bps margin expansion in FY27, driven by premiumisation and white spirits. FY26 net sales crossed ₹6,000
Key facts
- 20% premium volume growth FY27
- 25% value growth luxury
- 120 bps margin expansion
- net sales ₹6,000 cr FY26
- EBITDA ₹1,000 cr
- EBITDA margin 16.8%
- luxury turnover ₹475 cr
- 36.62 mn cases sold
- vodka share 6%
- 60% vodka market share
- capex ₹150-175 cr
Why this matters
The luxury and white-spirits momentum makes Radico a candidate for bolt-on premium brand acquisitions or distribution partnerships to accelerate the high-margin portfolio ahead of FY27.
What to watch
- Quarterly premium volume mix % and Magic Moments growth trajectory
- EBITDA margin print vs 16.8% base and 120bps guide
- ENA/grain and packaging input cost trends
- State excise policy changes and route-to-market disruptions (e.g., new state duty hikes)
- Luxury turnover progression beyond ₹475cr and new luxury launches
- Increase A&P investment behind Magic Moments and luxury (Rampur, Sangam, Jaisalmer) to defend premium share
- Expand distribution and CSD/military and duty-free channel presence for luxury SKUs
- Push capacity/backward integration on ENA to hedge input cost volatility
- Peer response: Allied Blenders, United Spirits, Pernod ramp premium launches and shelf competition