Radico Khaitan targets 20% premium volume growth in FY27 on premiumisation push

Radico Khaitan guides for 20% premium volume growth and 25% luxury value growth in FY27, with 120 bps margin expansion. FY26 net sales seen at ₹6,000 crore and EBITDA at ₹1,000 crore (16.8% margin). Magic Moments vodka sales jumped 45% as India shifts to white spirits; capex of ₹150-175 crore planned.

— Source publishedSun, 5 Jul, 2026, 15:06 IST·First seen Sun, 5 Jul, 2026, 15:14 IST·Source The Hindu BusinessLine

What happened

Radico Khaitan targets 20% premium volume growth and 120 bps margin expansion in FY27, driven by premiumisation and white spirits. Launched affordable-luxury

Key facts

  • 20% premium volume growth FY27
  • 25% luxury value growth
  • 120 bps margin expansion
  • net sales ₹6,000 crore FY26
  • EBITDA ₹1,000 crore
  • EBITDA margin 16.8%
  • luxury turnover ₹475 crore
  • 36.62 million cases sold FY26
  • Prestige & Above 16.7 million cases (45.6%)
  • vodka share 6% Apr-Jun
  • Magic Moments ~60% vodka share
  • capex ₹150-175 crore FY27

Why this matters

The ₹150-175 crore capex and luxury-value push suggest capacity-building for the premium segment—watch for M&A or brand acquisitions to accelerate the white-spirits and luxury portfolio.

What to watch

  • State excise revisions or price-hike approvals in key markets
  • Input cost trends: ENA, grain, glass, packaging
  • Quarterly premium volume growth prints (need mid-to-high teens+)
  • New luxury SKU launches and distribution expansion
  • Debt reduction / free cash flow progress alongside capex
  • Track quarterly premium & luxury volume mix disclosures against 20%/25% run-rate
  • Monitor Magic Moments market-share vs competing white-spirit launches
  • Watch gross margin and ENA/glass cost commentary for the 120 bps thesis
  • Assess capex deployment (₹150-175 cr) and its capacity/revenue conversion timeline

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