Q3 2025 Radico Khaitan Ltd Earnings Call Transcript
Key Points
- Radico Khaitan Ltd (BOM:532497) achieved industry-leading IMFL volume growth of 15.3% year-on-year in Q3 FY25.
- The Prestige & Above category volume saw a 17.7% increase, indicating strong demand for premium products.
- Luxury and semi-luxury brands crossed net sales value of INR100 crores in Q3 FY25 and INR250 crores in the nine months FY25.
- Royal Ranthambore Whiskey recorded a strong 55% growth during Q3, supported by a successful celebrity campaign.
- Magic Moments Vodka recorded 1.8 million cases sales during the quarter, maintaining a strong 60% market share in the vodka industry.
- Gross margin declined by 60 basis points on a quarter-on-quarter basis due to food grain inflation.
- Interest costs increased sequentially due to higher working capital utilization, primarily led by cyclical building of grain inventory.
- The regular category volume was previously impacted due to state-specific industry-related issues and ongoing strategic rationalization.
- Employee benefit expenditure was higher sequentially due to annual appraisal and incentive payments.
- The company faces challenges in the Andhra Pradesh market due to regulatory changes, although it has adapted well.
Ladies and gentlemen, good day, and welcome to the Radico Khaitan Q3 FY25 earnings conference call hosted by Dolat Capital Markets Private Limited. As a reminder, all participant lines will be in the listen-only mode and there would be an opportunity for you to ask questions after the presentation concludes. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Himanshu Shah from Dolat Capital Markets Private Limited. Thank you, and over to you, sir.
Thank you, Lizan. Good afternoon, everyone. At this moment, we would like to thank Radico Khaitan management for providing Dolat Capital with the opportunity to host the Q3 FY25 earnings call. We have with us the senior leadership from Radico Khaitan, represented by Mr. Abhishek Khaitan, MD and CEO; Mr. Amar Sinha, Chief Operating Officer; Mr. Dilip Banthiya, Chief Financial Officer; and Mr. Sanjeev Banga, President, International Business.
I will now hand over the call to
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