Radico Khaitan Q2 FY27 Record Revenue, 36% Premium Growth

Type of Event: The document is a transcript of the Q2 FY2027 Earnings Conference Call held with Analysts and Investors.
Date and Time: The call was held on October 28, 2026. A specific start time was not disclosed in the transcript.
Purpose: The stated purpose was to discuss the Unaudited Financial Results of the Company for the Quarter and Half Year ended September 30, 2026.
Management Participants: The following management representatives participated:
Mr. Abhishek Khaitan, Managing Director
Mr. Dilip Banthiya, Executive Director and CFO
Mr. Sanjeev Banga, President – International Business
Mr. Sudhir Upadhyay, Chief Sales Officer
Mr. Saket Somani, Deputy Chief Financial Officer
Availability of Materials: The transcript itself was filed with the exchanges and is available on the company's investor relations website at https://www.radicokhaitan.com/investor-relations/. An earnings presentation was referenced during the call.
UPSI Statement: The call included a standard disclaimer that some statements may be forward-looking and involve risks and uncertainties. There was no explicit statement that no Unpublished Price Sensitive Information (UPSI) would be shared.

Financial Highlights & Strategic Themes Discussed:

The financial period discussed was Q2 and H1 FY2027 (ended September 30, 2026).
Q2 FY27 Performance: The company reported its strongest quarter ever.
IMFL Volume: Over 10 million cases (7% YoY growth).
Revenue: ₹1,746 crores.
EBITDA: ₹356 crores.
EBITDA Margin: 20.4% (expanded 462 bps YoY).
Gross Margin: 48.0% (expanded 440 bps YoY, compressed 109 bps QoQ).
Prestige & Above (P&A) Portfolio: Volume grew 36% YoY to a record 5.28 million cases. This performance drove mix improvement, contributing 510 bps to gross margin YoY.
Vodka Category: Highlighted as a key structural shift, now representing 6.3% of the IMFL market. The company's Magic Moments brand is leading this shift, supported by new flavor launches like 'Aam Panna'.
Input Cost Volatility: The company noted continued volatility in raw material (grain) and packaging costs, which had a ₹27 crore financial impact (~160 bps on gross margin) in Q2. Management expressed confidence in mitigating this through procurement strategies and expects the situation to stabilize from November onwards.
Guidance: Management upgraded its FY27 volume growth guidance for the Prestige & Above portfolio to 30% and reaffirmed its confidence in sustaining an EBITDA margin of around 20% for the full year.
Leadership Update: Effective from the call date, Mr. Dilip Banthiya was formally appointed as Executive Director and CFO, and Mr. Saket Somani was elevated to Deputy CFO.

Attachments: The regulatory filing intimated that the transcript was enclosed as an attachment. The transcript itself is the primary document provided.
Financial Data: Extensive financial data and performance metrics were disclosed and discussed during the earnings call, as detailed in the summary above.