Radico Khaitan Ltd. on August 3 reported consolidated net profit at Rs 68.26 crore for the June quarter of FY24, registering a growth of 10.1 percent from Rs 61.99 crore in the same quarter of the previous financial year.
Total revenue of the company is Rs 4,023.31 crore, rising 26.3 percent from Rs 3,183.80 crore in the year-ago quarter, the company said in a regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBIDTA) were at Rs 118.9 crore up 29.1 percent. The EBIDTA margin was at 12.5 percent up 30 basis points. One basis point is one-hundredth of percentage point.
"Going forward, we will continue to invest in strengthening our brand portfolio and deliver value to our discerning consumers. Radico Khaitan is very well placed to benefit from the strong premiumization trend of the Indian spirits industry. Our Sitapur greenfield distillery project is progressing well and is in the last stage of implementation. We expect to start commercial production during Q2 FY2024.” said Dr. Lalit Khaitan, Chairman & Managing Director.
The company sustained strong operating performance led by Prestige & Above category portfolio. Total IMFL volume increased 7.9 percent whereas Prestige & Above category volume grew 27.2 percent. Prestige & Above net revenue growth was 40.3 percent compared to Q1 FY2023. Non-IMFL revenue growth was due to incremental country liquor volumes from our Sitapur bottling unit coupled with the country liquor price increases received w.e.f. 1-April-2023.
The Company’s strategy is to continue to make prudent marketing investments over existing core brands and new launches to sustain the
growth and market share, the company said in an investor presentation.
During Q1 FY24, A&SP as percent of IMFL sales was 5.9 percent vs. 5.0 percent in FY2023. On a quarterly basis, the amount may vary but the company expects to maintain A&SP spend around 6 percent to 8 percent of IMFL revenues to be able to drive the sales momentum.
The Company has incurred Rs 776.7 crore on the Rampur Dual Feed and Sitapur Green Field projects since inception.
On August 3, Radico Khaitan closed 0.69 percent higher at Rs 1148 on NSE.
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