Radico Khaitan Q1 revenue up by 20.8% at INR 624 crore

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Radico Khaitan Limited, one of the largest spirits companies in India (referred to as “Radico Khaitan” or the “Company”), announces its results for the firstquarter ended June 30, 2019.

Performance Highlights: Q1 FY2020 vs. Q1 FY2019

• Total IMFL volume of 6.25 Million Cases (+12.0%)
• Prestige & Above brands volume of 1.99 Million Cases (+16.0%)
• Prestige & Above brands contribution to the total IMFL volumes of 31.8% (vs. 30.7% last year)
• Revenue from Operations (Net) of Rs. 623.58 Cr (+20.8%)
• EBITDA of Rs. 98.94 Cr (+9.3%)
• Reduction in interest costs from Rs. 10.96 Cr to Rs. 7.38 Cr
• Total Comprehensive Income of Rs. 54.56 Cr (+16.2%)

Commenting on the performance, Dr. Lalit Khaitan, Chairman and Managing Director said “It is heartening to note that after a strong performance in FY2019, Radico Khaitan has continued to build upon the momentum in Q1 FY2020 as well. Despite an overall slowdown in the economy, we delivered strong growth across all key brands and geographic regions. In the short term, we have faced raw material price pressure but that does not impact our long-term growth and margin trajectory. We remain focused on investing in our core premium brand portfolio which will enable us to deliver long-term sustainable value creation for all stakeholders.”

Abhishek Khaitan, Managing Director said “We reported a strong operational performance in Q1 FY2020 with top line growth of 20.8% compared to Q1 FY2019. This growth was driven by a strong Prestige & Above category volume growth of 16.0%. While our existing brands such as 8PM whisky, Magic Moments vodka and Morpheus super premium brandy continued to perform well, the recently launched 8PM Premium Black whisky and 1965 premium rum made increasingly meaningful contribution. Over the last few quarters, we have seen significant raw material price pressure, but with the ongoing price increases and premiumisation, we are confident of sustaining our profitability margins during the year.”