Radico Khaitan Ltd

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

Radico Khaitan Ltd

₹ 1,732 0.67%
24 Apr - 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 ₹ 23,145 Cr.
  • Current Price ₹ 1,732
  • High / Low ₹ 1,885 / 1,081
  • Stock P/E 92.2
  • Book Value ₹ 172
  • Dividend Yield 0.17 %
  • ROCE 11.4 %
  • ROE 10.4 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Stock is trading at 10.0 times its book value
  • The company has delivered a poor sales growth of 11.8% over past five years.
  • Company has a low return on equity of 13.3% over last 3 years.
  • Company might be capitalizing the interest cost

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
684 689 598 709 757 813 757 761 792 832 954 925 1,161
560 588 506 597 638 733 665 671 695 753 834 804 1,018
Operating Profit 125 101 92 111 119 80 93 90 97 79 120 121 143
OPM % 18% 15% 15% 16% 16% 10% 12% 12% 12% 9% 13% 13% 12%
3 6 2 2 2 2 4 1 3 1 1 1 5
Interest 5 5 5 3 3 2 3 4 6 9 12 12 18
Depreciation 14 14 15 16 17 16 17 17 17 20 24 26 32
Profit before tax 108 88 74 94 101 63 77 70 76 51 84 83 98
Tax % 26% 24% 24% 26% 24% 26% 24% 26% 25% 27% 25% 26% 25%
84 74 61 73 79 50 62 54 61 43 68 65 75
EPS in Rs 6.30 5.51 4.56 5.47 5.92 3.75 4.64 4.08 4.58 3.19 5.11 4.85 5.62
Raw PDF

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 TTM
466 580 1,643 1,657 1,797 2,063 2,395 2,374 2,859 3,133 3,872
387 499 1,452 1,444 1,526 1,713 2,023 1,965 2,457 2,775 3,409
Operating Profit 79 81 191 214 270 351 372 409 402 359 462
OPM % 17% 14% 12% 13% 15% 17% 16% 17% 14% 11% 12%
8 30 41 18 27 13 -15 14 7 9 8
Interest 24 39 85 81 69 36 32 22 13 22 51
Depreciation 11 16 43 42 41 42 53 54 65 71 102
Profit before tax 52 57 103 109 188 286 273 347 332 275 317
Tax % 14% 20% 24% 26% 34% 34% 17% 24% 25% 26%
45 45 78 80 124 194 229 277 263 220 251
EPS in Rs 0.93 0.94 5.87 6.03 9.30 14.55 17.16 20.75 19.69 16.48 18.77
Dividend Payout % 11% 11% 14% 13% 11% 8% 12% 12% 15% 18%
Compounded Sales Growth
10 Years: %
5 Years: 12%
3 Years: 9%
TTM: 24%
Compounded Profit Growth
10 Years: %
5 Years: 12%
3 Years: -4%
TTM: 10%
Stock Price CAGR
10 Years: 31%
5 Years: 37%
3 Years: 50%
1 Year: 54%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 13%
Last Year: 10%

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 Sep 2023
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 2,279
Preference Capital 0 58 0 0 0 0 0 0 0 0
342 632 960 799 592 337 400 288 202 754 883
85 191 390 392 498 581 540 543 555 762 828
Total Liabilities 570 1,007 2,327 2,235 2,247 2,253 2,483 2,624 2,784 3,724 4,017
257 285 729 704 685 714 743 810 821 1,234 1,644
CWIP 4 44 2 2 20 16 18 38 30 327 74
Investments 2 10 220 220 220 176 178 184 175 191 199
306 668 1,376 1,309 1,321 1,347 1,543 1,592 1,757 1,971 2,099
Total Assets 570 1,007 2,327 2,235 2,247 2,253 2,483 2,624 2,784 3,724 4,017

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
-36 250 316 309 60 370 222 239
81 5 -21 -7 -67 -76 -108 -705
-87 -234 -293 -226 9 -183 -134 487
Net Cash Flow -42 21 2 76 2 111 -20 21

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
Debtor Days 71 96 136 137 128 114 125 107 96 96
Inventory Days 157 155 113 199 231 270 209 283 234 292
Days Payable 117 160 72 0 159 183 148 151 102 112
Cash Conversion Cycle 110 91 176 336 201 201 187 239 228 277
Working Capital Days 185 221 173 142 143 130 146 147 133 127
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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