IMFL volumes, revenues and profitability surge in Q3 and 9M FY2026, with Prestige & Above brands powering margin expansion and earnings quality
New Delhi, India, January 22, 2026 – Radico Khaitan Limited, one of the largest spirits companies in India (referred to as “Radico Khaitan” or the “Company”), announces its results for the third quarter and nine month ended December 31, 2025.
Q3 FY2026 Performance Summary
- Total IMFL volume* of 9.75 Million Cases (+16.7%)
- Prestige & Above brands volume of 4.62 Million Cases (+25.9%); Prestige & Above brands contribution to the IMFL volumes of 49.6% (vs. 50.9%)
- Prestige & Above brands net sales of Rs. 838.3 Cr (+29.4%); Prestige & Above brands contribution to the Total IMFL sales value of 73.6% (vs. 72.5%)
- Revenue from Operations (Net) of Rs. 1,546.7 Cr (+19.5%)
- Gross Profit of Rs. 719.4 Cr (+29.2%) at 46.5% margin
- EBITDA of Rs. 265.4 Cr (+44.9%) at 17.2% margin (compared to 14.2% in Q3 FY25)
- Total Comprehensive Income of Rs. 153.7 Cr (+61.6%)
Nine Month FY2026 Performance Summary
- Total IMFL volume* of 28.82 Million Cases (+29.8%)
- Prestige & Above brands volume of 12.35 Million Cases (+28.7%); Prestige & Above brands contribution to the IMFL volumes of 44.9% (vs. 49.2%)
- Prestige & Above brands net sales of Rs. 2,270.0 Cr (+31.6%); Prestige & Above brands contribution to the Total IMFL sales value of 69.7% (vs. 71.8%)
- Revenue from Operations (Net) of Rs. 4,546.7 Cr (+28.2%)
- Gross Profit of Rs. 2,019.0 Cr (+33.7%) at 44.4% margin
- EBITDA of Rs. 732.2 Cr (+48.3%) at 16.1% margin (compared to 13.9% in 9M FY25)
- Total Comprehensive Income of Rs. 423.8 Cr (+67.6%)
* Including brands on Royalty
Performance Overview
Above financials are on Standalone basis
Commenting on the performance, Dr. Lalit Khaitan, Chairman and Managing Director said:
“The Indian spirits sector continues to exhibit strong momentum, underpinned by steady demand and an accelerating shift towards premiumization, trends that were clearly visible during the festive quarter. Q3 FY26 marked a remarkable step-up in Radico Khaitan’s performance, translating favorable consumer trends into the best-ever quarterly results across all key parameters. Driven by a premium-led portfolio, a stable raw material environment and enhanced operating leverage, we delivered meaningful margin expansion and stronger return ratios. Our sustained focus on brand-building, premium positioning and cost discipline is now clearly reflected in a step-change in the quality of earnings. Backed by a strong balance sheet and a differentiated brand portfolio, we remain well positioned to capitalize on the structural growth opportunities in the Indian spirits industry.”
Commenting on the performance, Mr. Abhishek Khaitan, Managing Director said:
“Radico Khaitan’s quarterly performance underscores the power of purposeful brand-building and execution at scale, enabled by the passion, ownership and execution excellence of our teams across the organization. Our recent premium and luxury launches are gaining early momentum, reaffirming the depth of our consumer insights and our ability to build differentiated, aspirational brands. Rampur 1943 Virasat Indian Single Malt marks a defining milestone in our journey of creating world-class luxury Indian spirits, seamlessly blending heritage, craftsmanship and modern aspiration to set new benchmarks in its category. We are accelerating our presence in the On-Trade Channel, where premium consumption and strong brand advocacy among trade partners and influencers are deepening consumer engagement and long-term brand equity. With clarity of strategy and conviction in our capabilities, we remain firmly focused on building luxury Indian spirit brands and scaling them globally for sustained long term growth.”