RADICO · Fast Moving Consumer Goods
Radico Khaitan Ltd reported revenue of ₹1,494 cr for July to September 2025, +33.9% on the year and −0.8% on the quarter. Over the last four quarters revenue comes to ₹5,598 cr, +24.6% on the four before.
Operating profit (EBITDA) was ₹238 cr, a margin of 15.9%, +141 bps on the year and +53 bps on the quarter. It is the widest margin of the last 8 quarters (range 11.1% to 15.9%). Operating costs grew +31.7% against revenue growth of +33.9%, so more of each rupee of sales reached operating profit.
Net profit was ₹140 cr, +72.8% on the year and +6.9% on the quarter, with earnings per share of ₹10.42. Profit before other income, one-offs and tax grew 68.8%, so 4 points of the headline growth came from outside the core business. The tax rate of 25% is in line with its recent average. Profit over the last four quarters totals ₹458 cr, +60.7% on the four before.
On earnings per share of ₹34.19 over the last four quarters, the stock at ₹4,482.10 trades at 131.1 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,161 cr | ₹1,079 cr | ₹1,137 cr | ₹1,116 cr | ₹1,294 cr | ₹1,304 cr | ₹1,506 cr | ₹1,494 cr | ₹1,547 cr | ₹1,504 cr | ₹1,685 cr | ₹1,745 cr |
| YoY | — | — | +19% | +21% | +11% | +21% | +32% | +34% | +20% | +15% | +12% | +17% |
| EBITDA margin | 12.3% | 11.1% | 12.9% | 14.5% | 14.1% | 13.7% | 15.4% | 15.9% | 17.3% | 18.9% | 20.7% | 20.5% |
| Other income, % of PBT | 6% | 3% | 2% | 1% | 1% | 2% | −3% | 2% | −3% | 4% | 3% | 2% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 24% | 27% | 25% | 27% | 26% | 25% | 25% | 25% | 25% | 24% | 25% | 25% |
| Net profit | ₹75.0 cr | ₹54.0 cr | ₹75.0 cr | ₹81.0 cr | ₹95.0 cr | ₹92.0 cr | ₹131 cr | ₹140 cr | ₹155 cr | ₹179 cr | ₹230 cr | ₹232 cr |
| YoY | — | — | +10% | +25% | +27% | +70% | +75% | +73% | +63% | +95% | +76% | +66% |
| Core profit YoY | — | — | +18% | +33% | +38% | +67% | +84% | +69% | +66% | +89% | +64% | +64% |
| EPS | ₹5.62 | ₹4.03 | ₹5.64 | ₹6.03 | ₹7.14 | ₹6.88 | ₹9.75 | ₹10.42 | ₹11.57 | ₹13.40 | ₹17.14 | ₹17.34 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Radico Khaitan Ltd reported revenue of ₹1,494 cr (+33.9% on the year) and net profit of ₹140 cr (+72.8% on the year) for July to September 2025.
Profit before other income, exceptional items and tax moved +68.8% on the year, against +72.8% for reported profit.
None of the 7 checks that could run raised a question.
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