Radico Khaitan Ltd

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

Radico Khaitan Ltd

₹ 2,285 -1.14%
22 Nov - 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 ₹ 30,570 Cr.
  • Current Price ₹ 2,285
  • High / Low ₹ 2,526 / 1,422
  • Stock P/E 106
  • Book Value ₹ 192
  • Dividend Yield 0.13 %
  • ROCE 13.1 %
  • ROE 11.3 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Stock is trading at 11.9 times its book value
  • Company has a low return on equity of 11.7% 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 500 BSE 400 MidSmallCap Index Nifty Smallcap 50 Nifty 500 Nifty FMCG

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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 1,018 959 988 955
Operating Profit 111 119 80 93 90 97 79 120 121 143 120 149 162
OPM % 16% 16% 10% 12% 12% 12% 9% 13% 13% 12% 11% 13% 14%
2 2 2 4 1 3 7 6 4 6 2 5 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 57 89 86 99 74 102 110
Tax % 26% 24% 26% 24% 26% 25% 25% 23% 25% 24% 27% 24% 27%
73 79 50 62 54 61 43 68 65 75 54 77 81
EPS in Rs 5.47 5.92 3.75 4.64 4.08 4.58 3.19 5.11 4.85 5.62 4.03 5.79 6.03
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
466 580 1,643 1,657 1,797 2,063 2,395 2,374 2,859 3,133 4,106 4,492
387 499 1,452 1,444 1,526 1,713 2,023 1,965 2,457 2,775 3,599 3,919
Operating Profit 79 81 191 214 270 351 372 409 402 359 507 573
OPM % 17% 14% 12% 13% 15% 17% 16% 17% 14% 11% 12% 13%
8 30 41 18 27 13 -15 14 7 25 15 16
Interest 24 39 85 81 69 36 32 22 13 22 60 72
Depreciation 11 16 43 42 41 42 53 54 65 71 114 132
Profit before tax 52 57 103 109 188 286 273 347 332 291 348 386
Tax % 14% 20% 24% 26% 34% 34% 17% 24% 25% 24% 25%
45 45 78 80 124 194 229 277 263 220 262 287
EPS in Rs 0.93 0.94 5.87 6.03 9.30 14.55 17.16 20.75 19.69 16.48 19.61 21.47
Dividend Payout % 11% 11% 14% 13% 11% 8% 12% 12% 15% 18% 15%
Compounded Sales Growth
10 Years: %
5 Years: 15%
3 Years: 20%
TTM: 28%
Compounded Profit Growth
10 Years: %
5 Years: 6%
3 Years: -2%
TTM: 21%
Stock Price CAGR
10 Years: 40%
5 Years: 48%
3 Years: 27%
1 Year: 60%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 12%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 19 19 27 27 27 27 27 27 27 27 27 27
Reserves 124 166 951 1,018 1,130 1,309 1,516 1,766 2,000 2,181 2,413 2,537
342 690 960 799 592 337 400 288 202 754 818 903
85 133 390 392 498 581 540 543 555 762 846 945
Total Liabilities 570 1,007 2,327 2,235 2,247 2,253 2,483 2,624 2,784 3,724 4,104 4,412
257 285 729 704 685 714 743 810 821 1,234 1,700 1,687
CWIP 4 44 2 2 20 16 18 38 30 327 54 102
Investments 2 10 220 220 220 176 178 184 175 191 198 197
306 668 1,376 1,309 1,321 1,347 1,543 1,592 1,757 1,971 2,152 2,426
Total Assets 570 1,007 2,327 2,235 2,247 2,253 2,483 2,624 2,784 3,724 4,104 4,412

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-36 250 316 309 60 370 222 239 183
81 5 -21 -7 -67 -76 -108 -705 -242
-87 -234 -293 -226 9 -183 -134 487 24
Net Cash Flow -42 21 2 76 2 111 -20 21 -36

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 71 96 136 137 128 114 125 107 96 96 87
Inventory Days 157 155 113 199 231 270 209 283 234 292 211
Days Payable 117 160 72 0 159 183 148 151 102 112 71
Cash Conversion Cycle 110 91 176 336 201 201 187 239 228 277 226
Working Capital Days 185 221 173 142 143 130 146 147 133 124 110
ROCE % 14% 10% 14% 19% 18% 18% 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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