Radico Khaitan Limited (RADICO) AI Stock Analysis

• Market Cap: ₹378.28B
• Dividend Yield: 0.12%
• Average Volume (3M): 8.56K
• Price to Earnings (P/E): 73.1
• Beta (1Y): 0.80
• Revenue Growth: 24.62%
• EPS Growth: 59.27%
• Country: IN
• Employees: 1,469
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Wineries & Distilleries
• EPS (TTM): 11.60
• Shares Outstanding: 133,893,500
• 10 Day Avg. Volume: 12,230
• 30 Day Avg. Volume: 8,563
• PEG Ratio: 2.84
• Price to Book (P/B): 11.31
• Price to Sales (P/S): 6.42
• P/FCF Ratio: 171.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹3,710.00
• Price Target Upside: 18.25% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: ₹3,037.00 ▼(-3.20% Downside)

Radico Khaitan Limited's strong financial performance is the most significant factor, supported by robust revenue and profit growth. However, technical indicators suggest the stock is overbought, and the high P/E ratio indicates potential overvaluation. The lack of earnings call insights and corporate events limits additional context.

Positive Factors

Revenue Growth Trajectory

Sustained high revenue growth indicates durable demand for Radico’s branded portfolio and effectiveness of premiumization and distribution strategies. Over 2–6 months this supports scale benefits, brand-led pricing power and reinvestment capacity to defend market share and expand margins.

Free Cash Flow Turnaround

A move from negative to positive free cash flow signals structural improvement in cash conversion and working capital management. Durable cash generation enhances ability to fund capex, support brands, reduce leverage or pursue selective expansion without reliance on external financing.

Balance Sheet Stability

A solid equity base and manageable leverage provide financial resilience versus regulatory and state-level volume swings. This structural strength supports steady investment in capacity and brands, preserves optionality for M&A or geographic expansion, and lowers refinancing risk.

Negative Factors

Regulatory Dependence

Heavy exposure to state-level excise, pricing approvals and licensing creates structural revenue and margin volatility. Over months this can alter permitted prices, channel economics and volumes, making forward cash flows and planning sensitive to policy shifts beyond management control.

Limited Export Diversification

Exports are present but not consistently material, leaving revenue concentration in the Indian market. Structural dependence on domestic sales amplifies exposure to local regulatory, economic and seasonal cycles, limiting natural diversification that would smooth earnings over months.

Low Shareholder Yield

A very low dividend yield implies limited regular cash returned to shareholders despite improving cash flow. Structurally this may deter income-focused investors and signals capital retention for growth or balance sheet priorities rather than sustained shareholder distributions.

Radico Khaitan Limited Business Overview & Revenue Model

Company Description

Radico Khaitan Limited manufactures and sells Indian made foreign liquor (IMFL) in India. It offers IMFL products in various categories of whisky, brandy, rum, and white spirits under the brand names of Magic Moments and Magic Moments Verve Vodka, Morpheus and Morpheus Blue Brandy, 8PM and 8PM Premium Black Whisky, 1965 The Spirit of Victory Rum, Rampur Indian Single Malt Whisky, Jaisalmer Indian Craft Gin, Contessa Rum, Old Admiral Brandy, After Dark Whisky, Pluton Bay Rum, and Regal Talon Whisky. The company also provides bottling services to other spirit manufacturers. It also exports its products to approximately 85 countries. The company, formerly known as Rampur Distillery Company, was incorporated in 1943 and is based in New Delhi, India.

How the Company Makes Money

Radico Khaitan generates revenue primarily through the sale of its alcoholic beverages, which include a variety of spirits and ready-to-drink products. The company's revenue model is built on multiple key streams: the direct sale of its own branded products, contract manufacturing for other brands, and distribution agreements with local and international partners. RADICO's strong brand portfolio, including popular labels and premium offerings, allows it to capture a significant share of the growing spirits market in India and abroad. Additionally, strategic partnerships with distributors and retail chains enhance its market reach, contributing to its overall earnings. Furthermore, the company's focus on innovation and premiumization of its products helps drive higher sales and profitability.

Radico Khaitan Limited Financial Statement Overview

Summary

Radico Khaitan Limited exhibits a strong financial position with impressive revenue and profit growth, efficient operational management, and solid cash flow generation. The balance sheet shows moderate leverage but remains robust overall.

Income Statement

Radico Khaitan Limited has demonstrated strong revenue growth with a consistent upward trajectory over the past years. The gross profit margin remains robust, indicating efficient cost management, while the net profit margin has improved, reflecting enhanced profitability. EBIT and EBITDA margins have shown significant improvement, suggesting operational efficiency gains. Overall, the income statement reflects a healthy financial position with strong growth potential.

Balance Sheet

The company maintains a solid equity base, as evidenced by a reasonable debt-to-equity ratio, indicating manageable leverage levels. Return on equity has shown positive trends, highlighting effective use of shareholders' capital. However, the equity ratio suggests moderate reliance on liabilities, which is a point to monitor for any potential risk exposures. Overall, Radico Khaitan’s balance sheet is stable with a strong equity position.

Cash Flow

Radico Khaitan has shown a remarkable turnaround in its free cash flow, moving from negative to positive growth, signifying improved cash management and operational efficiency. The operating cash flow to net income ratio is healthy, indicative of effective cash conversion from earnings. The free cash flow to net income ratio underscores the company’s capability to generate substantial free cash flow relative to its net income. The cash flow statement reflects strong cash generation capabilities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	52.21B	48.51B	41.19B	31.43B	28.68B	23.99B
Gross Profit	22.09B	20.28B	17.08B	12.80B	12.53B	11.64B
EBITDA	7.32B	6.55B	4.93B	3.47B	3.92B	4.03B
Net Income	3.99B	3.46B	2.62B	2.20B	2.63B	2.77B
Balance Sheet
Total Assets	0.00	46.39B	40.95B	37.19B	27.81B	27.14B
Cash, Cash Equivalents and Short-Term Investments	565.21M	565.21M	1.01B	1.78B	1.10B	1.21B
Total Debt	0.00	7.50B	8.18B	7.54B	2.02B	2.88B
Total Liabilities	-27.54B	18.85B	16.55B	15.11B	7.54B	9.21B
Stockholders Equity	27.54B	27.54B	24.40B	22.08B	20.27B	17.93B
Cash Flow
Free Cash Flow	0.00	1.82B	-693.17M	-4.95B	853.18M	2.68B
Operating Cash Flow	0.00	3.63B	1.83B	2.39B	2.21B	3.77B
Investing Cash Flow	0.00	-1.71B	-2.42B	-7.05B	-1.07B	-832.22M
Financing Cash Flow	0.00	-2.37B	237.03M	4.87B	-1.34B	-1.83B

Radico Khaitan Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3137.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RADICO, the sentiment is Negative. The current price of 3137.5 is above the 20-day moving average (MA) of 2924.13, above the 50-day MA of 3106.55, and above the 200-day MA of 2873.72, indicating a bearish trend. The MACD of -90.58 indicates Positive momentum. The RSI at 42.20 is Neutral, neither overbought nor oversold. The STOCH value of 20.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RADICO.

Radico Khaitan Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CASTROLIND	72 Outperform	₹182.05B	18.64	―	6.86%	6.83%	8.79%
FINEORG	68 Neutral	₹129.91B	32.04	―	0.26%	5.73%	-7.74%
RADICO	65 Neutral	₹378.28B	73.14	―	0.12%	24.62%	59.27%
EMAMILTD	64 Neutral	₹212.25B	27.99	―	1.91%	0.84%	-2.44%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
GODREJAGRO	58 Neutral	₹102.45B	23.53	―	1.92%	5.24%	9.79%
GLOBUSSPR	56 Neutral	₹26.86B	35.34	―	0.28%	2.36%	-26.16%

Radico Khaitan Limited Corporate Events

Radico Khaitan to Set Up Wholly Owned Scotch-Focused Subsidiary in Scotland

Radico Khaitan Limited’s board has granted in-principle approval to incorporate a wholly owned subsidiary in Scotland, United Kingdom, to be named Radico Khaitan Scotland Ltd or another name approved by local authorities. The proposed subsidiary, which will fall under the alcoholic and beverages industry, is intended to engage in distillation, maturation, storage and trading of Scotch, liquor and spirits, and may acquire and operate a distillery in Scotland, signaling a strategic move to deepen Radico Khaitan’s presence in the global spirits value chain and directly tap into the Scotch whisky ecosystem.

Radico Khaitan Releases Q3 FY2026 Earnings Presentation

Radico Khaitan Limited has released its earnings presentation for the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, in compliance with disclosure requirements under Indian listing regulations. The presentation, made available via stock exchanges and the company’s website, is intended to update investors and stakeholders on the company’s recent financial performance and business developments for Q3 FY2026, reinforcing transparency and ongoing engagement with the capital markets.

Radico Khaitan Sets Q3 FY2026 Earnings Call for January 23

Radico Khaitan Limited has scheduled its Q3 FY2026 earnings conference call with analysts and investors for Friday, January 23, 2026, at 4:00 PM IST, providing universal access dial-in numbers for participants. The company noted that the call schedule may change if required, and confirmed that the investor presentation for the quarter will be shared with stock exchanges and made available on its website on January 22, 2026, following the announcement of financial results, underscoring its focus on timely and transparent communication with the market.

Radico Khaitan Schedules Investor Meetings for December 2025

Radico Khaitan Limited has announced a schedule of investor meetings from December 3 to December 5, 2025, involving interactions with HDFC Mutual Fund, BofA India Boardroom Series, and Invesco Hong Kong. These meetings are part of the company’s efforts to engage with investors, although no unpublished price-sensitive information will be discussed. The presentation for these meetings is available on the company’s website, indicating transparency and proactive communication with stakeholders.

Radico Khaitan Launches Rampur 1943 Virasat Single Malt

Radico Khaitan Limited has launched the Rampur 1943 Virasat Indian Single Malt, a whisky that honors the legacy of the Rampur Distillery. Crafted from six-row Indian barley and matured in American Bourbon Barrels with a Ruby Port Pipe finish, this whisky embodies a blend of tradition and modernity. The launch signifies the company’s commitment to quality and innovation, aiming to make Indian single malts accessible to a broader audience. Initially available in select Indian states, this product highlights Radico Khaitan’s dedication to celebrating India’s rich distilling heritage.