Radico Khaitan Limited · NSE:RADICO
Radico Khaitan — Investor Presentation (June 2025)
52 slides from Radico Khaitan's investor presentation, Jun 23, 2025
Slide 1: Stock exchange cover letter: Investor Presentation
RKL/SX/2025-26/26 June 23, 2025 BSE Ltd. National Stock Exchange of India Ltd. Phiroze Jeejeeboy Towers Exchange Plaza, 5th Floor, Plot no. C/1, Dalal Street G Block, Bandra-Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400051 Scrip Code: 5324G7 Scrip code: RADICO Subject: Investor Presentation
Slide 2: Radico Khaitan Ltd. Investor Presentation Taking India to the World
Radico Khaitan Ltd. (BSE: 532497; NSE: RADICO) Investor Presentation June 2025 Taking India to the World
Slide 3: Index
Index 2 1. Industry dynamics 2 8 2. Company overview 8 11 3. Strategic direction 11 12 4. Brand portfolio 12 47 5. Financial performance 47
Slide 4: India Macroeconomic Context
India Macroeconomic Context India remains one of the fastest growing economies globally with strong demographic dividend Driver 1 – Income Growth Middle-class expansion and emergence of a sizeable high-income Transformation of consumption profile segment Driver 2 – Rapid Urbanization Growth of rural
Slide 5: India Consumer Story
India Consumer Story India on track to become the world's third largest consumer market by 2026 Global consumption market - India remains one of the key India's consumption growth (in nominal terms) outpaced China, consumer markets in the world (US$ trillion) US and Germany (in US$ terms) 18.6 2013
Slide 6: Spirits Industry in India
Spirits Industry in India Strong premiumisation trend is expected to continue to be driven by favourable demographics Sales of Spirits by Category (Volume) Sales of Spirits by Category (Value) 4.1% Industry Industry 4.9% 9.5% 68.8% 8.9% 74.7% CAGR: 5.1% CAGR: 13.4% 12.0% 63.8% 66.6% 11.5% 8.8% Whisk
Slide 7: Spirits Industry in India
Spirits Industry in India Strong structural growth drivers in place • Structural change towards premiumization • Progressive state excise policy framework • Increasing importance of liquor towards state revenues after the implementation of GST • Low per capital IMFL consumption of 2.5 liters in Indi
Slide 8: Continued strong premium growth
Continued strong premium growth Prestige & Above brands have grown at a CAGR of 13% since FY2019 45.6% 46.1% Prestige & Above category volume growth of more than 212% since 31.4 FY2019 Strong premium & luxury brand Prestige & Above as % of Total Volume 37.5% 28.7 28.2 launches and pipeline: 26.4 • F
Slide 9: Continued strong premium growth
Continued strong premium growth Leading to a sustainable improvement in the realization per case Realisation (Rs./case) 1,801 1,717 1,600 1,510 1,547 1,389 1,307 1,180 1,128 991 864 890 814 773 626 634 649 579 603 606 562 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Prestige & Above* Regular & O
Slide 10: Company Overview
Company Overview Largest Indian IMFL Company Strategically limiting 80+ years of One of the largest interstate taxes and experience in 1943 spirits making. One 321 spirits manufacturers. 43 transport costs. Six own, 28 contract Year of of the most Capacity expanded Bottling Million liters from 160 m
Slide 11: Manufacturing and Distribution Platform
Manufacturing and Distribution Platform Strong backward integration to secure quality long term raw material supply Pan India manufacturing platform to cater to customer needs Location Distilleries Molasses Grain Malt Total Capacity (million litres) Rampur 4 19.3 82.5* 2.6 104.4 Sitapur 1 NA 108.9 N
Slide 12: Global Presence
Global Presence Significant progress in building the brand equity in the overseas markets 9% FY2025 IMFL Sales Value Split 91% Exports Domestic Exports to over 100 countries across the world
Slide 13: Strategic Growth Drivers
Strategic Growth Drivers Focus on developing brands, building scale and driving a profitable growth 1. A strong and growing premium product portfolio driven by consumer preferences 2. Successful launches in the luxury space with Indian single malt and Indian craft gin 3. Robust brand equity, with we
Slide 14: Brand Portfolio
Brand Portfolio Most brands launched in the last fifteen years have been in the premium category The Legacy Platform for Brand Creation Premiumization Luxury Brands (1943 – 1996) (1998 – 2006) (2006 onwards) (2016 onwards) o 1943: The Rampur Distillery o Started the branded IMFL o After creating bra
Slide 15: The Millionaires' Club – Global Rankings 2025
The Millionaires’ Club – Global Rankings 2025 Some of the top brands of Radico Khaitan are leading brands globally Magic 8PM Premium Morpheus After Dark 1965 Spirit of Old Admiral Moments 8PM Whisky Contessa Rum Black Whisky Brandy Whisky Victory Rum Brandy Vodka 4th Fastest 1st Fastest 3rd Fastest
Slide 16: Brand Portfolio
Brand Portfolio Broad choice for consumers with focus on premium brands Indicative MRP Whisky Rum Brandy Vodka Gin A bottle of liquor with a blue label Description automatically generated Luxury (US$ 50+) Calendar Description automatically generated Semi Luxury (US$ 15+) MS: 60% Super Premium (US$ 1
Slide 17: Rampur Indian Single Malt
Rampur Indian Single Malt Price ladder: Breaking the pricing barrier
Slide 18: Rampur Indian Single Malt
Rampur Indian Single Malt A Salute to the Royal Heritage Select Expressions o Rampur Double Cask: Matured in hand-picked American Bourbon barrels and European Oak Sherry casks o Eight expressions (Select, PX Sherry, Signature Reserve, Double Cask, Asava, Trigun, Jugalbandi, Barrel Blush) o Available
Slide 19: The Pursuit of Perfection
THE PURSUIT OF PERFECTION This Limited Edition Whisky was put to age peacefully in American Standard Oak Barrels for an extended period of time, withering many Indian Summers. These four unique casks, handpicked and reserved for the Master Maker, were then transferred in specially selected PX Sherry
Slide 20: Rampur Barrel Blush
RAMPUR INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED BARREL BLUSH Sensory Lnpressions Nose: Balanced aroma of tropical fruits, floral, smooth malty tones and oaky notes from double oak-wood barrels. Delicate vanilla notes from American white oak complemented by rich caramel, toffee, dried dark fruits
Slide 21: Award Winning Rampur Select
AWARD WINNING COCOLLECTIONc# Indulge in the rich Indian heritage and enduring traditions of the Maharajas. Aged in the foothills of Himalayas, this exquisite whisky is the Kohinoor of Single Malts. This beautiful nectar is a winner of many international awards including the Double Gold Medal San Fra
Slide 22: Rampur Trigun Cask
RAMPUR INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED TRIPLE | RJGUN cask ‘An amalgamation of fruity aromas and smoothness ‘topped with irresistible crispiness coming from a balanced maturation in three different casks. TAUUL / Harmony of Three QO¢ TASTING NOTES NOSE: Tropical fruity notes with hints
Slide 23: Rampur Jugalbandi #1
RAMPUR INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED JUGALBANDI #1 Avelvet of tropical fruity notes from American Bourbon Barrels and an array of dark dried and complex spiciness from Moscatel Casks MOSCATEL CASK Firyicy, ee ae MPUR NOSE Fruity top notes of lychee, mango and hint of banana as the cas
Slide 24: Jugalbandi #2
INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED JUGALBANDI #2 A magical duet of tropical fruity notes from American Bourbon Barrels and aroma of sweet baked apple from Calvados Casks. cAWADOS CASK Finig,, a medley of aromas NOSE The cask lends sweet and spicy malt notes, adding depth to the aroma and b
Slide 25: Rampur Jugalbandi #3
RAMPUR INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED JUGALBANDI #3 juxurious euphony of sweetness and spice from American Bourbon Barrels and a smooth, velvety aria with hints of sweet plum cake from Port Casks. RAMPUR port CASK MATURED, NOSE The intense tropical fruity top notes that evolve into a h
Slide 26: Rampur Jugalbandi #4
RAMPUR _JUGALBANDI #4 ming melody of fruity, floral glory from American “ pourbon Barrels and spicy malty magie from Indian Pale Ale Casks. _ yeAC cask AMT NOSE An intense tropical fruity note with a ripe juicy apple and ahint of mango. The Indian Pale Ale cask sings in a sweet malty undertone with
Slide 27: Jugalbandi #5
INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED _JUGALBANDI #5 melody begins in American Bourbon Barrels, ness and spice from Tokaji Wine Casks. xoKAl CASK MATURED a medley of womas NOSE A crescendo of fruity notes begins with classic Rampur aromas of apricot, peach, and ripe mango, accompanied by hint
Slide 28: Jugalbandi #6
INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED JUGALBANDI # symphony of flavors unfolds in the emt American Bourbon Barrels, accompanied by a lavish palett f floral and citrusy notes from Madeira Wine Casks. ADEIRA CASK MATURE, a medley of aromas NOSE A tropical overture introduces classic Rampur arom
Slide 29: Sangam World Malt Whisky
WORLD MALT WHISKY NON-CHILL FILTERED A MELANGE OF MALTS MASTERFULLY WEAVED TOGETHER CRAFTING AN EXCEPTIONAL EXPERIENCE. NOSE Sangam offers a hint of tropical fruits such as lychee, green apple, pears and apricot. Followed by delicate notes of citrus and floral tones of rose and heather. The sweet ro
Slide 30: Expanding the Luxury Portfolio: Spirit of Victory 1999 Pure Malt Whisky
A yellow text on a white background Description automatically generated Expanding the Luxury Portfolio Spirit of Victory 1999 Pure Malt Whisky What is a Pure Malt Whisky? • A Pure Malt, also known as a blended malt, is a type of whisky crafted by blending various single malts distilled twice in trad
Slide 31: Introducing Ankahi Zaffran Spiced Liqueur
’ ‘ qd & w Re 2 ie) INTRODUCING ANKAHI ZAFFRAN SPICED LIQUEUR In the heart of India's diverse and ancient landscapes lie stories waiting to be discovered. From the verdant valleys of Kashmir comes a masterpiece that captures the essence of these untold tales - Ankahi Zaffran Spiced Liqueur. Crafted
Slide 32: Kohinoor Reserve
He Radwo KOHINOOR RESERVE SPIRIT OF EXCELLENCE
Slide 33: Jaisalmer Indian Craft Gin
A yellow text on a white background Description automatically generated Jaisalmer Indian Craft Gin The Royalty Awaits o A triple-distilled neutral grain spirit, it is re-distilled in a traditional copper pot still, with its recipe handcrafted in a time-honoured way. o Derived from the ancient Indian
Slide 34: Jaisalmer Indian Craft Gin
JAISALMER INDIAN CRAFT GIN a million tales on a GOLDEN a) )AISALMER CANVAS Cee a ‘The Indian wisdom of ancient herk including finest quality Juniper Berri infused with 18 handpicked botanicals . Coriander from Jaisalm Nagpur Orange Peel, Darjeeling Green Tea, Liquorice, Lemongrass. Bay Leaves, Gandh
Slide 35: Royal Ranthambore
A yellow text on a white background Description automatically generated Royal Ranthambore Heritage Collection-Royal Crafted Whisky • Blended Malt Scotch & Scotch Grain from Malted Barley: Crafted from different bespoke Blended Malt Scotch from various regions of Scotland. Scotch grain is also blende
Slide 36: Royal Ranthambore
Royal Ranthambore Heritage Collection-Royal Crafted Whisky Tasting Notes: Visual/Colour: Golden hue complemented by tint of amber Nose/Aroma: Warm and intense malty aromas make their presence felt followed by sweet floral notes and hints of citrus. At the end subtle forest honey and spicy dried frui
Slide 37: Introducing Morpheus Rare Luxury Whisky
Introducing MORPHEUS — RARE — LUXURY WHISKY
Slide 38: Morpheus Rare Luxury Whisky
Morpheus Rare Luxury Whisky 36 Addressing portfolio gap targeted at the fast-growing super-premium whisky segment Blend Fruity floral elegance - Aged in Bourbon barrels, this masterful blend of imported Scotch Malts and Indian grain spirits invokes signature fruity attributes. Color Amber gold. Nose
Slide 39: Magic Moments Dazzle Vodka
A yellow text on a white background Description automatically generated Magic Moments Dazzle Vodka Razzle with the Magic of Dazzle The 7 stage filtration process Single Grain Rice Vodka Gold Silver • Filters: Carbon, Silver, Platinum and Gold • Filters: Carbon, Silver and Platinum • A delightful ble
Slide 40: Magic Moments Verve Vodka
A yellow text on a white background Description automatically generated Magic Moments Verve Vodka The Smooth Blend of Sophistication o Verve super-premium vodka is refined through a slow five-stage filtration process, using silver and platinum filters that ensure purity till the last drop. A high-en
Slide 41: Magic Moments Vodka
A yellow text on a white background Description automatically generated Magic Moments Vodka Make Every Moment a Magic Moment o Launched in 2006, Magic Moments is India’s largest premium vodka brand with around 60% market share (~90% in the relevant segment). o The magic of every party begins here. M
Slide 42: Morpheus Super Premium Brandy
A yellow text on a white background Description automatically generated Morpheus Super Premium Brandy Dare to Dream Morpheus Blue XO Brandy o It takes one sip of Morpheus Blue to understand that not all brandies are created equal. Crafted by our master blenders, Morpheus Blue is perfection in a bott
Slide 43: 8PM Premium Black: Bold New Look
8PM Premium Black: Bold New Look
Slide 44: International Key Account Presence
A yellow text on a white background Description automatically generated International Key Account Presence Dubai USA UK Singapore Corporate Presentation | June 2025 Above list is illustrative and not exhaustive 42
Slide 45: Global Travel Retail
Global Travel Retail Bangalore Duty Free Dubai Duty Free Dubai Duty Free Mumbai Duty Free - Arrival Corporate Presentation | June 2025 43
Slide 46: Global Travel Retail
Global Travel Retail Mumbai Duty Free - Departure TFWA, Singapore Corporate Presentation | June 2025 44
Slide 47: Global Travel Retail
Global Travel Retail Sharjah Duty Free Bahrain Duty Free Corporate Presentation | June 2025 45
Slide 48: Tax Free World Association (TFWA), Cannes
Tax Free World Association (TFWA), Cannes
Slide 49: Recent Performance
Recent Performance Q4 y-o-y Q3 q-o-q 12 Month y-o-y FY2025 FY2024 Growth (%) FY2025 Growth (%) FY2025 FY2024 Growth (%) Operational Performance (Million Cases) Prestige & Above 3.40 2.92 16.8% 3.67 (7.2)% 13.00 11.26 15.5% Regular & Others 5.29 2.97 78.5% 3.54 49.5% 15.21 13.42 13.3% Total Own Volum
Slide 50: Recent Performance
Recent Performance Q4 y-o-y Q3 q-o-q 12 Month y-o-y FY2025 FY2024 Growth (%) FY2025 Growth (%) FY2025 FY2024 Growth (%) Financial Performance (` Crore) Revenue from Operations (Gross) 4,485.4 3,894.6 15.2% 4,440.9 1.0% 17,098.5 15,483.9 10.4% Revenue from Operations (Net) 1,304.1 1,078.7 20.9% 1,294
Slide 51: Disclaimer
Disclaimer This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Radico Khaitan’s future business developments and economic performance. W
Slide 52: Radico Khaitan Limited
Radico Khaitan Limited (CIN: L26941UP1983PLC027278) J-I, Block B-I, Mohan Co-operative Industrial Area, Mathura Road, New Delhi-110044 Ph.: +91-11-4097 5400/5500 Fax: +91-11-4167 8841/42 www.radicokhaitan.com