Radico Khaitan Ltd

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

Radico Khaitan Ltd

₹ 1,732 0.49%
17 May 4:01 p.m.
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 ₹ 23,207 Cr.
  • Current Price ₹ 1,732
  • High / Low ₹ 1,885 / 1,095
  • Stock P/E 88.5
  • Book Value ₹ 182
  • Dividend Yield 0.17 %
  • ROCE 13.1 %
  • ROE 11.3 %
  • Face Value ₹ 2.00
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Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 9.50 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
689 598 709 757 813 757 761 792 832 954 925 1,161 1,079
588 506 597 638 733 665 671 695 753 834 804 1,018 959
Operating Profit 101 92 111 119 80 93 90 97 79 120 121 143 120
OPM % 15% 15% 16% 16% 10% 12% 12% 12% 9% 13% 13% 12% 11%
6 2 2 2 2 4 1 3 7 1 1 6 2
Interest 5 5 3 3 2 3 4 6 9 12 12 18 17
Depreciation 14 15 16 17 16 17 17 17 20 24 26 32 32
Profit before tax 88 74 94 101 63 77 70 76 57 84 83 99 74
Tax % 24% 24% 26% 24% 26% 24% 26% 25% 25% 25% 26% 24% 27%
74 61 73 79 50 62 54 61 43 68 65 75 54
EPS in Rs 5.51 4.56 5.47 5.92 3.75 4.64 4.08 4.58 3.19 5.11 4.85 5.62 4.03
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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
466 580 1,643 1,657 1,797 2,063 2,395 2,374 2,859 3,133 4,119
387 499 1,452 1,444 1,526 1,713 2,023 1,965 2,457 2,775 3,612
Operating Profit 79 81 191 214 270 351 372 409 402 359 506
OPM % 17% 14% 12% 13% 15% 17% 16% 17% 14% 11% 12%
8 30 41 18 27 13 -15 14 7 9 15
Interest 24 39 85 81 69 36 32 22 13 22 59
Depreciation 11 16 43 42 41 42 53 54 65 71 114
Profit before tax 52 57 103 109 188 286 273 347 332 275 348
Tax % 14% 20% 24% 26% 34% 34% 17% 24% 25% 26% 25%
45 45 78 80 124 194 229 277 263 220 262
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
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: 31%
Compounded Profit Growth
10 Years: %
5 Years: 6%
3 Years: -2%
TTM: 20%
Stock Price CAGR
10 Years: 32%
5 Years: 38%
3 Years: 46%
1 Year: 54%
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
Equity Capital 19 19 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
Preference Capital 0 58 0 0 0 0 0 0 0 0
342 632 960 799 592 337 400 288 202 754 818
85 191 390 392 498 581 540 543 555 762 837
Total Liabilities 570 1,007 2,327 2,235 2,247 2,253 2,483 2,624 2,784 3,724 4,095
257 285 729 704 685 714 743 810 821 1,234 1,702
CWIP 4 44 2 2 20 16 18 38 30 327 53
Investments 2 10 220 220 220 176 178 184 175 191 198
306 668 1,376 1,309 1,321 1,347 1,543 1,592 1,757 1,971 2,143
Total Assets 570 1,007 2,327 2,235 2,247 2,253 2,483 2,624 2,784 3,724 4,095

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 157 155 113 199 231 270 209 283 234 292 120
Days Payable 117 160 72 0 159 183 148 151 102 112 41
Cash Conversion Cycle 110 91 176 336 201 201 187 239 228 277 166
Working Capital Days 185 221 173 142 143 130 146 147 133 127 109
ROCE % 14% 10% 14% 19% 18% 18% 16% 11%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
40.29% 40.27% 40.27% 40.27% 40.27% 40.27% 40.27% 40.27% 40.27% 40.26% 40.26% 40.26%
19.78% 20.06% 20.48% 19.28% 18.35% 18.86% 18.94% 18.63% 18.26% 18.18% 19.01% 18.58%
18.16% 18.64% 18.61% 19.24% 20.26% 22.85% 23.23% 23.51% 23.76% 23.92% 23.99% 24.72%
0.02% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
21.75% 21.00% 20.64% 21.21% 21.13% 18.01% 17.57% 17.59% 17.71% 17.63% 16.75% 16.45%
No. of Shareholders 74,25899,3841,22,4841,46,3901,46,9861,29,0771,25,4731,17,0891,07,4651,15,4301,12,8001,11,781

* 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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