Radico Khaitan Ltd

Radico Khaitan Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Radico Khaitan Ltd

₹ 2,489 -1.26%
20 Dec - close price
radicokhaitan.com BSE: 532497 NSE: RADICO
About

Incorporated in the year 1943, Radico Khaitan is one of the most recognised IMFL (Indian Made Foreign Liquor) brands in India. [1]

The company was initially known as Rampur Distillery Company and was focussed on distillation and bottling for branded players and canteen stores of armed forces.

Later on in the year 1997, Radico Khaitan ventured into its own branded IMFL products and launched its first brand 8PM whisky which became its millionarie brand within a year of its launch. [2]

Key Points

History
Radico Khaitan Limited is among the oldest and largest manufacturers of IMFL in India. Earlier known as Rampur Distillery Company, Radico Khaitan commenced its operations in 1943 and has emerged as a major bulk spirits supplier and bottler to other spirit manufacturers. In 1998 Company started its own brands with the
introduction of 8PM Whisky.

Website BSE NSE
  • Market Cap ₹ 33,297 Cr.
  • Current Price ₹ 2,489
  • High / Low ₹ 2,612 / 1,429
  • Stock P/E 115
  • Book Value ₹ 187
  • Dividend Yield 0.12 %
  • ROCE 13.2 %
  • ROE 11.3 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 17.1%

Cons

  • Stock is trading at 13.3 times its book value
  • Company has a low return on equity of 11.4% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Alcoholic Beverages Industry: Breweries & Distilleries

Part of BSE 250 SmallCap Index Nifty Smallcap 50 Nifty Total Market Nifty 500 Multicap 50:25:25 Nifty Smallcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
709 757 813 757 761 792 832 954 925 1,161 1,079 1,137 1,116
597 638 733 665 671 695 753 834 804 1,018 956 988 953
Operating Profit 111 119 80 93 90 97 79 120 121 143 123 149 163
OPM % 16% 16% 10% 12% 12% 12% 9% 13% 13% 12% 11% 13% 15%
2 2 2 4 1 3 1 1 1 5 2 4 3
Interest 3 3 2 3 4 6 9 12 12 18 17 18 19
Depreciation 16 17 16 17 17 17 20 24 26 32 32 33 36
Profit before tax 94 101 63 77 70 76 51 84 83 98 77 101 112
Tax % 26% 24% 26% 24% 26% 25% 27% 25% 26% 25% 26% 25% 27%
69 77 46 58 52 57 37 63 62 74 57 76 82
EPS in Rs 5.18 5.74 3.47 4.36 3.88 4.27 2.79 4.73 4.63 5.52 4.25 5.71 6.14
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,210 1,378 1,400 1,643 1,657 1,797 2,063 2,395 2,374 2,859 3,133 4,106 4,492
1,020 1,182 1,220 1,452 1,444 1,526 1,713 2,023 1,965 2,457 2,775 3,599 3,915
Operating Profit 190 196 180 191 214 270 351 372 409 402 359 507 578
OPM % 16% 14% 13% 12% 13% 15% 17% 16% 17% 14% 11% 12% 13%
26 34 36 36 18 26 13 -15 20 11 9 9 14
Interest 71 85 90 85 81 69 36 32 22 13 22 60 72
Depreciation 35 39 38 43 42 41 42 53 54 65 71 114 132
Profit before tax 109 106 87 99 109 187 286 273 353 335 275 342 388
Tax % 29% 33% 22% 26% 26% 34% 34% 17% 23% 25% 26% 25%
77 71 68 73 80 123 188 228 271 252 204 256 289
EPS in Rs 5.81 5.36 5.08 5.52 6.02 9.26 14.10 17.04 20.26 18.86 15.29 19.13 21.62
Dividend Payout % 14% 15% 16% 14% 13% 11% 9% 12% 12% 16% 20% 16%
Compounded Sales Growth
10 Years: 12%
5 Years: 15%
3 Years: 20%
TTM: 28%
Compounded Profit Growth
10 Years: 13%
5 Years: 6%
3 Years: -2%
TTM: 32%
Stock Price CAGR
10 Years: 40%
5 Years: 51%
3 Years: 28%
1 Year: 55%
Return on Equity
10 Years: 12%
5 Years: 13%
3 Years: 11%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 27 27 27 27 27 27 27 27 27 27 27 27 27
Reserves 702 754 803 937 1,003 1,115 1,288 1,494 1,737 1,960 2,125 2,351 2,476
768 904 849 960 799 592 337 400 288 202 754 818 903
308 332 411 390 392 498 581 540 543 555 762 846 945
Total Liabilities 1,804 2,017 2,089 2,313 2,221 2,232 2,233 2,460 2,595 2,744 3,668 4,042 4,350
529 570 573 729 704 685 714 743 810 821 1,213 1,657 1,644
CWIP 5 8 1 2 2 20 16 18 38 30 327 54 102
Investments 109 108 98 205 205 205 155 155 155 135 135 135 135
1,161 1,330 1,418 1,376 1,309 1,321 1,347 1,543 1,592 1,757 1,993 2,195 2,469
Total Assets 1,804 2,017 2,089 2,313 2,221 2,232 2,233 2,460 2,595 2,744 3,668 4,042 4,350

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-66 137 250 -39 252 316 309 60 370 221 224 183
46 -141 -83 84 3 -21 -7 -67 -76 -108 -684 -243
15 3 -172 -87 -234 -293 -226 9 -183 -134 482 24
Net Cash Flow -5 -1 -5 -42 21 2 76 2 111 -21 22 -36

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 131 139 125 136 137 128 114 125 107 96 96 87
Inventory Days 116 118 164 202 199 231 270 209 283 234 292 211
Days Payable 73 71 95 129 125 159 183 148 151 102 112 71
Cash Conversion Cycle 174 185 194 209 211 201 201 187 239 228 277 226
Working Capital Days 194 224 214 173 142 143 130 146 147 133 124 110
ROCE % 13% 12% 11% 10% 10% 14% 19% 18% 19% 16% 12% 13%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
40.27% 40.27% 40.27% 40.27% 40.27% 40.27% 40.27% 40.26% 40.26% 40.26% 40.26% 40.24%
20.48% 19.28% 18.35% 18.86% 18.94% 18.63% 18.26% 18.18% 19.01% 18.58% 18.82% 18.60%
18.61% 19.24% 20.26% 22.85% 23.23% 23.51% 23.76% 23.92% 23.99% 24.72% 24.47% 24.70%
20.64% 21.21% 21.13% 18.01% 17.57% 17.59% 17.71% 17.63% 16.75% 16.45% 16.44% 16.45%
No. of Shareholders 1,22,4841,46,3901,46,9861,29,0771,25,4731,17,0891,07,4651,15,4301,12,8001,11,7811,14,6811,23,741

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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