Radico Khaitan Limited (RADICO) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 23, 2026 4 min read

Radico Khaitan enters the first quarter of FY27 looking to build on its strong premiumisation momentum, with investors closely watching how the company balances input cost volatility against its aggressive growth targets. The print will focus on the interplay between softening grain prices and rising packaging costs, alongside updates on the company's path to becoming net-debt-free by the first half of the fiscal year.

Quick Details

Results date	July 28, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 1,503.7 Cr
Previous quarter PAT	Rs. 175.16 Cr
Previous quarter EBITDA margin	19.0%
Net debt (latest quarter)	Rs. 244.1 Cr
Market cap	Rs. 54481.66 Cr
CMP	Rs. 4065.3

Radico Khaitan Limited Q1 Results Date and Time

The board meeting is scheduled for July 28, 2026, to consider the Q1 FY27 unaudited standalone and consolidated financial results.

The Q1 FY2027 earnings call is scheduled for July 29, 2026, with dial-in details provided to investors.

What to expect from Radico Khaitan Limited's Q1 FY27 results

Management's core premiumisation thesis remains the primary driver for the quarter, supported by the strong performance of Magic Moments Vodka, which recorded 3.25 million cases in Q1 FY27, a 43% YoY increase. While softening maize prices provide a tailwind to ENA costs, the company faces a 15-20% inflation in glass bottle prices which acts as a material headwind to margin expansion. The company continues to track toward its FY27 guidance of ~20% P&A volume growth and a 25% increase in the luxury and semi-luxury portfolio, with the latter benefiting from recent excise policy shifts in Karnataka. Investors will look for clarity on the net-debt-free target for H1 FY27 and the impact of the After Dark Blue premium redesign launched in June 2026 across its initial rollout states.

Key Things To Watch

Performance vs Guidance Tracking: Tracking progress against key FY27 financial and operational targets.

P&A Volume Growth — ~20% for FY27 — Q1 performance pending
Luxury Portfolio Growth — 25% for FY27 — Q1 performance pending
EBITDA Margin Expansion — ~125 bps for FY27 — Q1 performance pending
Net Debt — Zero by H1 FY27 — Q1 position pending

Operating metric trajectory: Monitoring volume trends and brand performance across key segments.

Magic Moments Vodka volume reached 3.25 million cases in Q1 FY27 (+43% YoY)
After Dark Blue premium redesign rollout in Uttar Pradesh and 10 additional states
Volume trends in key states including Uttar Pradesh, Andhra Pradesh, Maharashtra, and Rajasthan

Strategic execution and capex: Updates on infrastructure and portfolio scaling initiatives.

Capex run-rate maintenance within the guided Rs. 150-175 Cr annual band
Progress on the Scotland subsidiary to secure matured malt supply chain
Tequila launch timeline under the D'YAVOL subsidiary

Risks and headwinds to monitor: Management-flagged risks impacting the current quarter.

Glass bottle price inflation of 15-20% impacting packaging costs
State-level excise policy volatility in Maharashtra and Telangana
Potential impact of West Asia geopolitical developments on export freight and insurance costs

Frequently Asked Questions

What is the status of Radico Khaitan's debt reduction plan?

Net debt was Rs. 244.1 Cr at the end of FY26, down from Rs. 573.6 Cr in FY25. Management has guided toward becoming net-debt-free by the first half of FY27.

How did the Sitapur distillery impact margins?

Management confirmed the Sitapur plant provides a pre-tax benefit of Rs. 6-7 per litre, which could rise to Rs. 8-9 if grain prices soften. The plant is currently operating at 95% utilization.

What is the impact of the Uttar Pradesh excise reform on working capital?

The reform, which passed duty to the wholesaler, has improved working capital efficiency. The CFO noted this benefit is reflected in reduced interest costs.

Is Radico Khaitan on track with its luxury portfolio growth guidance?

The company achieved sales of approximately Rs. 475 Cr in FY26 and has guided for 25% growth in FY27. The long-term goal is to scale this portfolio to Rs. 1,000 Cr.