Financials Radico Khaitan Limited

Equities

RADICO

INE944F01028

Distillers & Wineries

Market Closed - NSE India S.E. Other stock markets 05:19:38 05/12/2024 pm IST			5-day change	1st Jan Change
2,362.85 ^INR	+0.72%		-1.09%	+42.49%

25/10	Radico Khaitan Limited, Q2 2025 Earnings Call, Oct 25, 2024
25/10	Radico Khaitan Posts Gains in Fiscal Q2 Consolidated Net Profit	MT

Projected Income Statement: Radico Khaitan Limited

income-statement-evolution-chart RADICO-KHAITAN-LIMITED

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	24,270	24,181	28,680	31,428	41,185	47,925	54,250	61,711
Change	-	-0.37%	18.6%	9.58%	31.05%	16.36%	13.2%	13.75%
EBITDA ¹	3,718	4,089	4,022	3,584	5,061	6,799	8,362	10,183
Change	-	9.99%	-1.65%	-10.89%	41.2%	34.35%	22.99%	21.77%
EBIT ¹	-	3,550	3,373	2,875	3,923	5,498	7,065	8,846
Change	-	-	-4.99%	-14.77%	36.45%	40.14%	28.5%	25.2%
Interest Paid ¹	-316.1	-220.2	-131	-221.2	-591.5	-602	-395.3	-267
Earnings before Tax (EBT) ¹	2,727	3,531	3,353	2,748	3,420	5,042	6,773	8,743
Change	-	29.49%	-5.06%	-18.04%	24.47%	47.41%	34.33%	29.09%
Net income ¹	2,275	2,706	2,522	2,044	2,558	3,747	5,073	6,548
Change	-	18.93%	-6.8%	-18.93%	25.11%	46.49%	35.41%	29.07%
Announcement Date	28/05/20	01/06/21	30/05/22	25/05/23	14/05/24	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	6,236	5,702	6,479	5,854	4,092	6,301	6,842	6,947	6,028	7,088	7,660	8,125	7,574	7,614	7,922	8,318	9,539	9,250	11,609	10,787	11,365	11,042	12,671	11,806
Change	-	-8.57%	13.64%	-9.66%	-30.1%	53.99%	8.6%	1.54%	-13.24%	17.6%	8.06%	6.07%	-6.78%	0.52%	4.04%	5.01%	14.68%	-3.03%	25.5%	-7.08%	5.36%	-2.85%	14.76%	-6.83%
EBITDA ¹	1,026	884.5	1,025	822.9	758	1,072	1,246	1,014	920.9	1,115	1,190	796.4	925.3	900.8	968.7	789.3	1,195	1,212	1,428	1,225	1,490	1,537	1,761	1,653
Change	-	-13.76%	15.89%	-19.72%	-7.89%	41.48%	16.15%	-18.62%	-9.15%	21.04%	6.77%	-33.08%	16.19%	-2.65%	7.53%	-18.52%	51.42%	1.42%	17.84%	-14.23%	21.61%	3.19%	14.55%	-6.13%
EBIT ¹	-	-	-	-	-	-	-	-	-	952.9	-	-	757.9	-	-	-	-	-	1,110	909.8	1,161	1,223	1,433	1,324
Change	-	-	-	-	-	-	-	-	-	-	-100%	-	-	-100%	-	-	-	-	-	-18.07%	27.63%	5.32%	17.17%	-7.61%
Charge d'intérêts ¹	-73.8	-76.8	-81	-84.55	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-177.2	-166.9	-184.5	-140	-140	-140
Earnings before Tax (EBT) ¹	823.7	617.2	745.4	540.5	582.2	-	-	-	-	940.5	1,006	629.4	771.9	-	-	-	840.3	833.1	981.6	765.3	1,014	1,027	1,327	1,222
Change	-	-25.07%	20.79%	-27.49%	7.7%	-100%	-	-	-	-	7.01%	-37.46%	22.63%	-100%	-	-	-	-0.85%	17.83%	-22.03%	32.43%	1.33%	29.21%	-7.91%
Net income ¹	547.7	785.9	557	384.5	440.7	724.1	805.3	735.5	598.3	692.6	767.1	463.6	582.9	-	570.5	-	632.5	618.8	738.5	567.9	763.1	801	993	915
Change	-	43.49%	-29.12%	-30.98%	14.63%	64.3%	11.21%	-8.67%	-18.66%	15.77%	10.76%	-39.57%	25.73%	-100%	-	-100%	-	-2.16%	19.35%	-23.1%	34.38%	4.97%	23.97%	-7.85%
Announcement Date	08/08/19	06/11/19	23/01/20	28/05/20	23/07/20	28/10/20	28/01/21	01/06/21	28/07/21	02/11/21	03/02/22	30/05/22	10/08/22	14/11/22	14/02/23	25/05/23	03/08/23	06/11/23	06/02/24	14/05/24	07/08/24	-	-	-

¹INR in Million

Estimates

Forecast Balance Sheet: Radico Khaitan Limited

balance-sheet-analysis-chart RADICO-KHAITAN-LIMITED

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	-	927	-	6,371	-1,435	-3,398	-4,548
Change	-	-	-	-	-	-122.52%	-336.79%	-233.84%
Announcement Date	28/05/20	01/06/21	30/05/22	25/05/23	14/05/24	-	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Radico Khaitan Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	702.4	1,088	1,359	7,125	2,524	1,379	907	917.3
Change	-	54.87%	24.89%	424.45%	-64.58%	-45.37%	-34.21%	1.13%
Free Cash Flow (FCF) ¹	-105.6	2,682	840.8	-	-694.5	1,978	3,954	5,185
Change	-	-2,640.86%	-68.66%	-	-	-384.79%	99.88%	31.14%
Announcement Date	28/05/20	01/06/21	30/05/22	25/05/23	14/05/24	-	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: Radico Khaitan Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	15.32%	16.91%	14.02%	11.4%	12.29%	14.19%	15.41%	16.5%
EBIT Margin (%)	-	14.68%	11.76%	9.15%	9.53%	11.47%	13.02%	14.33%
EBT Margin (%)	11.24%	14.6%	11.69%	8.74%	8.3%	10.52%	12.48%	14.17%
Net margin (%)	9.37%	11.19%	8.79%	6.5%	6.21%	7.82%	9.35%	10.61%
FCF margin (%)	-0.43%	11.09%	2.93%	-	-1.69%	4.13%	7.29%	8.4%
FCF / Net Income (%)	-4.64%	99.14%	33.34%	-	-27.16%	52.79%	77.93%	79.19%
Profitability
ROA	9.7%	10.52%	9.45%	5.58%	6.81%	7.9%	9.9%	12.6%
ROE	16.05%	16.48%	13.45%	9.88%	11.58%	14.41%	16.91%	18.92%
Financial Health
Leverage (Debt/EBITDA)	-	-	0.23x	-	1.26x	-	-	-
Debt / Free cash flow	-	-	1.1x	-	-9.17x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.89%	4.5%	4.74%	22.67%	6.13%	2.88%	1.67%	1.49%
CAPEX / EBITDA (%)	18.89%	26.6%	33.78%	198.81%	49.86%	20.28%	10.85%	9.01%
CAPEX / FCF (%)	-665.37%	40.55%	161.58%	-	-363.34%	69.7%	22.94%	17.69%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	2	2.4	3	3	3	4.733	5.617	7.15
Change	-	20%	25%	0%	0%	57.78%	18.66%	27.3%
Book Value Per Share ¹	114	132	148.6	161	177.8	202.5	235.2	277.3
Change	-	15.85%	12.58%	8.32%	10.44%	13.9%	16.13%	17.92%
EPS ¹	17.04	20.25	18.87	15.29	19.13	28.29	37.96	48.99
Change	-	18.84%	-6.81%	-18.97%	25.11%	47.87%	34.18%	29.07%
Nbr of stocks (in thousands)	1,33,534	1,33,568	1,33,674	1,33,674	1,33,715	1,33,777	1,33,777	1,33,777
Announcement Date	28/05/20	01/06/21	30/05/22	25/05/23	14/05/24	-	-	-