Radico Khaitan Q2 FY27 Results (NSE: RADICO)
Signal: Steady quarter
The read
The trajectory remains constructive: Q2FY27 revenue grew 10.4% YoY while PAT grew 66.5%, extending the recent pattern of profit growth materially outpacing sales; however, sequential revenue declined 4.9% and the filing does not print an EBITDA margin, so the operating-margin inflection cannot be independently confirmed from this statement.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹5,582.71 Cr | 10.4% | -4.9% |
| Net profit | ₹232.35 Cr | 66.5% | |
| EPS | ₹17.34 | 66.3% |
P&L walk
Revenue rose 10.4% YoY to 5,58,271.46 lakh, while PAT increased 66.5% to 23,234.69 lakh, helped by lower finance costs, higher joint-venture income and operating-cost absorption; sequentially revenue fell 4.9% but PAT rose 1.2%.
Segments
The company reports one primary segment, Alcohol and Alcoholic Beverages; the consolidated result was only 147.37 lakh above standalone PAT because joint ventures contributed 146.80 lakh.
Key positives
- Consolidated PAT reached ₹23,234.69 lakh, up 66.5% YoY versus revenue growth of 10.4%, with finance costs down 29.9% YoY.
- Net debt declined to 19,321.63 lakh from 26,099.23 lakh at March 2026, a reduction of 6,777.60 lakh.
- EPS rose 66.3% YoY to ₹17.34 and broadly tracked PAT growth, indicating no material dilution signal.
- CWIP increased to 17,424.73 lakh from 7,492.92 lakh, indicating continued investment while PPE remained broadly stable.
Key concerns
- Revenue declined 4.9% QoQ to 5,58,271.46 lakh, indicating sequential moderation after the prior quarter's 33.9% YoY growth.
- Selling and distribution expenses rose 19.5% YoY against revenue growth of 10.4%, increasing brand-investment intensity.
- Operating cash flow was 37,828.18 lakh in H1FY27, down 1.8% YoY, while trade receivables increased by 32,732.68 lakh and inventories by 9,500.49 lakh from March 2026.
Research and educational content only. Not investment advice.