Radico Khaitan : Investor Presentation May 2026

About this update from Radico Khaitan Limited

RKL/SX/2026-27/17 May 28, 2026 BSE Limited Phiroze Jeejeeboy Towers, Dalal Street, Mumbai - 400001 Scrip Code: 532497 National Stock Exchange of India Limited Exchange Plaza, 5 th Floor, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400051 Scrip code: RADICO Subject : Investor Presentation Ref. : Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"). Dear Sir/Madam, Pursuant to Regulation 30 of the Listing Regulations, please find enclosed herewith a copy of Investor Presentation titled "Taking India to the World". This intimation is also being disseminated on the Company's website at http://www.radicokhaitan.com/investor-relations This is for your information and records. Thanking You, For Radico Khaitan Limited Dinesh Digitally signed by Dinesh Kumar Gupta +05'30' Kumar Gupta Date: 2026.05.28 15:15:09 Dinesh Kumar Gupta Senior Vice President - Legal & Company Secretary Email Id: [email protected] Encl: as above RADICO KHAITAN LIMITED Corporate Office: Plot No. J-l, Block B-1, Mohan Co-op. Industrial area Mathura Road, New Delhi-110044 Ph: (91-11) 4097 5444/555 Registered Office: Rampur Distillery, Bareilly Road, Rampur-244901 (UP.) Phones: 0595-2350601/2, 0595-2350009 E-mail: [email protected] , website: https://www.radicokhaitan.com CIN No.: L26941UP1983PLC027278 Radico Khaitan Ltd. (BSE: 532497; NSE: RADICO) Investor Presentation May 2026 Taking India to the World Index Industry dynamics 2 Company overview 9 Strategic direction 12 Brand portfolio and marketing 13 Financial performance 61 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 segment Transformation of consumption profile Driver 2 - Rapid Urbanization Dispersed urbanization and rural income growth Growth of rural consumption and breakdown of the urban-rural paradigm Driver 3 - Favorable Demographics A working age majority A more aware and aspirational young millennials Driver 4 - Technology and Innovation Existing technology backbone New technology and business model innovations Driver 5 - Evolving Consumer Attitudes Preferences led by lifestyle and premiumization in addition to necessities, health, and leisure Alcobev becoming more acceptable socially Investor Presentation | May 2026 3 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 consumer markets in the world (US$ trillion) India's consumption growth (in nominal terms) outpaced China, US and Germany (in US$ terms) India's income pyramid: population with annual gross income >US$10,000 could record the highest growth (CAGR) in the next 5 years (Income brackets) More than US$ 10,000 US$ 5,000 - US$ 10,000 US$ 2,500 - US$ 5,000 US$ 1,500 - US$ 2,500 mn 12 25 79 128 Luxury Premium mn 40 79 193 222 CAGR 17% CAGR 13% mn 88 146 251 222 Less than US$ 1,500 612 442 538 2010 2023 2028 Investor Presentation | May 2026 4 (2.0)% Japan Germany US China India 1.0% 10 yr CAGR (2023) 5.0% 7.1% 7.2% 18.6 2013 2023 11.4 6.9 3.5 2.8 2.3 2 2.3 1.1 2.1 US China Japan Germany 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) 12.0% 4.1% 2024: 63.8% 11.5% 4.9% 2029: 66.6% Industry CAGR: 5.1% Whisky: 5.9% Brandy: 1.6% Rum: 4.1% White Spirits: 9.1% 10.5% 9.5% 68.8% 2024: 8.8% 7.6% 8.9% 74.7% 2029: Industry CAGR: 13.4% 20.0% 400 million cases 17.0% 512 million cases 11.2% Rs. 2,962 billion Rs. 5,548 Whisky: 15.3% Brandy: 4.8% Rum: 9.5% White Spirits: 11.9% billion Spirits sales in India is estimated to have crossed 400 million cases in CY2024, representing an increase of 2.8% over CY2023 During CY2024-29 period, IMFL sales volume is expected to grow at a CAGR of 5.1% and sales value at 13.4% White spirits, Vodka and Gin, remain the fastest growing category in volume terms 2024-29 Growth 12.1% 8.4% Single Malt Blended Scotch Indian Single Malt market is expected to see strong growth 2024 Growth 2024-29 Growth 11.2% 8.4% 14.6% 11.1% Value Volume Value Volume Vodka industry growth indicates a strong premiumization trend Source: Euromonitor International Investor Presentation | May 2026 5 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 India Country liquor represents an equally large market segment which is eventually expected to convert into IMFL White spirits (vodka and craft gin) represent a large opportunity Improved consumer shopping experience being a focus in the state policies Focus on value engineering, including more sustainable alternative packaging options Consumers are ready to experiment with experiences beyond the functional social benefits of alcohol 6 Continued Strong Prestige & Above brands growth Prestige & Above brands have grown at a CAGR of 21% since FY2021 Prestige & Above as % of Total Volume 45.6% 46.1% 45.6% Volume (mn cases) 29.0% 29.1% 30.8% 24.3 26.4 37.5% 28.2 28.7 31.4 38.3 7.1 17.2 6.5 15.8 22.3 8.1 18.2 9.4 15.6 11.3 13.4 13.0 15.2 16.7 19.9 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Prestige & Above* Regular & Others* Total** P&A % Investor Presentation | May 2026 * Excluding Royalty brands for FY23 to FY26; ** Total including Royalty brands for FY23 to FY26 7 Continued Strong Prestige & Above brands growth Leading to a sustainable improvement in the realization per case Realisation (Rs./case) 1,717 1,801 1,834 1,510 1,547 1,600 603 864 606 890 626 991 634 1,128 649 1,180 634 1,181 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Prestige & Above* Regular & Others* Total** Investor Presentation | May 2026 * Excluding Royalty brands for FY23 to FY26; ** Total including Royalty brands for FY23 to FY26 8 Company Overview Largest Indian IMFL Company 1943 Year of Incorporation 80+ years of experience in spirits making. One of the most recognized IMFL brands in India 323 Million liters One of the largest spirits manufacturers 44 Bottling units Strategically limiting interstate taxes and transport costs. Five own, 39 contract and royalty bottling units spread across the country 100,000 Retailers Strong distribution network. Sale through over 100,000 retail and 10,000 on premise outlets FY2026 IMFL Volume 38.3 million cases Growth of 22% Y-o-Y; Prestige & Above brand contribution to IMFL volumes of 45.6%; 70.3% in value terms FY2026 Net Revenue 6,050 (Rs. Crore) Growth of 25% Y-o-Y; EBITDA margin of 16.8% of Net Sales 9 Manufacturing and Distribution Platform Strong backward integration to secure quality long term raw material supply Pan India manufacturing platform to cater to customer needs Contract & Royalty Bottling Units (39) Own Bottling Units (5) Distilleries (10) Printing Unit (3) PET Plant (2) Location Distilleries Molasses Grain Malt Total Capacity (million litres) Rampur 6 19.3 82.5* 4.6 106.4 Sitapur 1 NA 108.9 NA 108.9 Aurangabad (Joint Venture) 3 42.0 66.0 NA 108.0 Total 10 61.3 257.4 4.6 323.3 * Dual feed plant which can operate both on molasses and grain Investor Presentation | May 2026 10 Global Presence Significant progress in building the brand equity in the overseas markets 8% FY2026 IMFL Sales Value Split 92% Exports Domestic Exports to over 100 countries across the world Strategic Growth Drivers Focus on developing brands, building scale and driving a profitable growth A strong and growing premium product portfolio driven by consumer preferences Successful launches in the luxury space with Indian single malt and Indian craft gin Robust brand equity, with well-recognized products across various categories and segments of IMFL industry in India Strategically located, well equipped quality driven manufacturing facilities Technology-driven research and development capabilities , led by market insights and focused on innovation Pan-India sales and distribution network with an efficient supply chain management system Exports to over 100 countries , which provides access to a global scale Value growth with focus on profitability, lean cost structure and strong cash flow generation Experienced Board and Senior Management team, supported by committed and competent employees Brand Portfolio Most brands launched in the last fifteen years have been in the premium category The Legacy (1943 - 1996) Platform for Brand Creation (1998 - 2006) Premiumization (2006 onwards) Luxury Brands (2016 onwards) 1943: The Rampur Distillery Company was established Manufactured high quality spirit for branded players and to the armed forces / canteen stores Gained significant experience as manufacturer of spirits and bottler for other companies 1996: Mr. Abhishek Khaitan joined the family business and instilled the idea of creating own brands Started the branded IMFL division and launched its first brand 8PM Whisky in 1998 8PM became a millionaire brand within the first year of its launch Achieved sales volume of 10 Million cases volumes Made investment at the Rampur facility for creating a strong manufacturing platform for IMFL Developed strong marketing machinery; Established pan-India selling and distribution setup After creating brands in the high-volume regular categories, launched the first product in the premium category, Magic Moments Vodka in 2006 Followed by Morpheus Super Premium Brandy, Magic Moments Verve Super Premium Vodka and other brands 2016: Launched Rampur Indian Single Malt luxury whisky Followed by Jaisalmer Indian Craft Gin, Royal Ranthambore Whisky, Sangam World Malt, The Spirit of Kashmyr Luxury Vodka, Rampur 1943 Virasat Indian Single Malt, etc. The Millionaires' Club - Global Rankings 2025 Some of the top brands of Radico Khaitan are leading brands globally Magic Moments Vodka 8PM Premium Black Whisky Morpheus Brandy After Dark Whisky 1965 Spirit of Victory Rum 8PM Whisky Contessa Rum Old Admiral Brandy 6 th Largest Vodka 13 th Largest Indian Whisky 4 th Fastest growing Brandy 10 th Largest Brandy 3 rd Fastest growing Brand 1 st Fastest growing Rum 7 th Largest Rum 7 th Largest Indian Whisky 9 th Largest Rum 3 rd Fastest growing Brandy 4 th Largest Brandy Investor Presentation | May 2026 14 Brand Portfolio Broad choice for consumers with focus on premium brands Indicative MRP Whisky Rum Brandy Vodka Gin Luxury (US$ 50+) MS: 50% Semi Luxury (US$ 15+) MS: Super Premium (US$ 10-15) 60% MS: Semi-Premium / Premium (US$ 8-10) MS: 5% 85% Deluxe (US$ 6-8) CSD MS: 18% Regular (<$US 6) MS: 15% CSD MS: 15% Investor Presentation | May 2026 Category Market Share 15 Best-in-Class Luxury Portfolio After the success of Rampur and Jaisalmer, further strengthened the Indi-lux portfolio over the past five years FY2022 FY2023 FY2024 FY2025 FY2026 The most expensive Indian whisky at the entry level scotch segment; priced higher than the competition A confluence of the finest malts sourced from traditional European origins as well as from the New World The crown jewel of luxury rums -triple aged in American Oak Barrels, followed by further maturation in Cognac XO and Vermouth casks Another core expression from the House of Rampur, reflecting our distinctive maturation techniques Luxury vodka with with an aspiration to transform into a leading global brand; A new age single malt carrying forward the legacy of Rampur Distillery Investor Presentation | May 2026 A disciplined journey from selective brands to a comprehensive, world-class Indian luxury spirits portfolio Rampur Indian Single Malt Price ladder: Breaking the pricing barrier Rampur Indian Single Malt In Air India (First Class and Business Class) International Flights Investor Presentation | May 2026 18

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