Radico Khaitan

₹1189 -1.4 | 0.1%

WEBSITE BSE:532497 NSE : RADICOKHAIT 23 Mar, 16:01

Market Cap ₹15895 Cr.

Stock P/E 69.8

P/B 7.4

Current Price ₹1189

Book Value ₹ 161.7

Face Value 2

52W High ₹1229.9

Dividend Yield 0.25%

52W Low ₹ 723.2

Edit Ratio

Radico Khaitan Research see more...

Radico Khaitan Limited

Overview Inc. Year: 1983Industry: Breweries & Distilleries

Radico Khaitan Ltd manufactures alcohol and alcoholic merchandise. The Company operates thru the segment of liquor and associated merchandise. It offers diverse brands of Whisky, along with 8PM Whisky, Royal Whytehall Whisky and After Dark Whisky; Rum, consisting of Contessa Rum and 8PM Bermuda Rum; Brandy, which include Old Admiral Brandy, 8PM Excellency Brandy and Morpheus Brandy; Vodka, which include Magic Moments Vodka, Magic Moments Remix Vodka and Verve, and Ready to Drink, along with Electra. It produces high neutral alcohol from molasses, as well as grain. It produces aged grain spirit, as well as matured malt spirit and malt spirit. It has over 33 bottling gadgets spanning across the country, of which over five belong to it and over 28 are settlement bottling units. Its Rampur Distillery manufactures diverse brands of Indian-made overseas liquor (IMFL) and country liquor. It operates over three distilleries and one joint undertaking with general potential of over a hundred and fifty million liters.

Quarterly Price

Quarterly Monthly

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Peer Comparison

Radico Khaitan Quarterly Results

#(Fig in Cr.)	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Net Sales	2740	2971	2881	2847	3077	3307	3224	3184	3019	3166
Other Income	4	3	12	2	2	2	2	4	1	3
Total Income	2744	2974	2893	2849	3079	3308	3227	3188	3020	3169
Total Expenditure	2633	2847	2780	2755	2966	3188	3145	3091	2928	3069
Operating Profit	111	127	113	94	113	121	82	97	91	100
Interest	5	5	5	5	3	3	2	3	4	6
Depreciation	13	14	14	15	16	17	16	17	17	17
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	92	108	94	74	94	101	63	77	70	76
Provision for Tax	20	28	21	18	25	24	17	19	18	19
Profit After Tax	72	81	74	56	69	77	46	58	52	57
Adjustments	2	4	-0	5	4	3	4	4	3	4
Profit After Adjustments	75	84	74	61	73	79	50	62	54	61
Adjusted Earnings Per Share	5.6	6.3	5.5	4.6	5.5	5.9	3.8	4.6	4.1	4.6

Radico Khaitan Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	1652	1680	1823	2097	2427	2399	2868	12593
Other Income	39	21	30	13	13	15	13	10
Total Income	1691	1700	1853	2110	2440	2413	2881	12604
Total Expenditure	1464	1469	1556	1746	2059	1990	2471	12233
Operating Profit	227	231	297	364	381	423	410	370
Interest	85	81	69	36	32	22	13	15
Depreciation	43	42	41	42	53	54	65	67
Exceptional Income / Expenses	0	0	0	0	-24	0	0	0
Profit Before Tax	99	109	187	286	273	347	332	286
Provision for Tax	25	29	64	98	45	83	83	73
Profit After Tax	73	80	123	188	228	264	249	213
Adjustments	5	0	1	6	2	13	15	15
Profit After Adjustments	78	80	124	194	229	277	263	227
Adjusted Earnings Per Share	5.9	6	9.3	14.6	17.2	20.8	19.7	17.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	20%	11%	11%	0%
Operating Profit CAGR	-3%	4%	12%	0%
PAT CAGR	-6%	10%	25%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	31%	70%	28%	25%
ROE Average	13%	15%	14%	13%
ROCE Average	16%	17%	17%	15%

Radico Khaitan Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	977	1044	1157	1336	1543	1793	2027
Minority's Interest	0	0	0	0	0	0	0
Borrowings	196	103	34	22	2	0	5
Other Non-Current Liabilities	63	78	103	115	95	102	96
Total Current Liabilities	1089	1009	951	779	843	882	896
Total Liabilities	2325	2234	2246	2251	2483	2778	3024
Fixed Assets	729	704	685	714	743	810	821
Other Non-Current Assets	285	367	321	312	317	280	349
Total Current Assets	1311	1164	1239	1225	1422	1688	1854
Total Assets	2325	2234	2246	2251	2483	2778	3024

Radico Khaitan Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	-293	-335	-314	-312	8	10	121
Cash Flow from Operating Activities	-36	252	316	309	60	370	221
Cash Flow from Investing Activities	81	3	-21	-7	-67	-76	-107
Cash Flow from Financing Activities	-87	-234	-293	-226	9	-183	-134
Net Cash Inflow / Outflow	-42	21	2	76	2	111	-20
Closing Cash & Cash Equivalent	-335	-314	-312	-236	10	121	101

Radico Khaitan Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	5.87	6.03	9.3	14.55	17.16	20.75	19.69
CEPS(Rs)	8.76	9.15	12.33	17.28	20.97	23.83	23.45
DPS(Rs)	0.8	0.8	1	1.2	2	2.4	3
Book NAV/Share(Rs)	73.42	78.42	86.75	100.09	115.53	134.22	151.53
Core EBITDA Margin(%)	4.39	4.33	4.26	4.35	3.91	3.89	3.18
EBIT Margin(%)	4.3	3.89	4.08	3.99	3.23	3.52	2.77
Pre Tax Margin(%)	2.31	2.24	2.99	3.55	2.9	3.3	2.66
PAT Margin (%)	1.72	1.64	1.97	2.33	2.42	2.52	1.99
Cash Profit Margin (%)	2.73	2.5	2.62	2.86	2.97	3.03	2.51
ROA(%)	4.41	3.51	5.51	8.36	9.61	10.05	8.57
ROE(%)	12.75	7.93	11.22	15.09	15.81	15.86	13.02
ROCE(%)	13.11	10.03	14.25	18.8	16.85	18.42	16.11
Receivable days	32.65	46.3	36.5	28.8	28.38	26.42	21.27
Inventory Days	14.86	21.26	17.58	15.19	14.22	15	15.01
Payable days	92.5	122.18	148.12	171.18	142.19	151.77	122.85
PER(x)	16.28	22.82	35.61	27.16	15.57	27.03	45.05
Price/Book(x)	1.3	1.75	3.82	3.95	2.31	4.18	5.86
Dividend Yield(%)	0.84	0.58	0.3	0.3	0.75	0.43	0.34
EV/Net Sales(x)	1.34	1.56	2.73	2.67	1.63	3.18	4.16
EV/Core EBITDA(x)	9.78	11.3	16.79	15.36	10.36	18.04	29.13
Net Sales Growth(%)	169.15	1.7	8.5	15.04	15.74	-1.16	19.56
EBIT Growth(%)	91.31	3.13	34.97	25.68	-5.28	21.25	-6.59
PAT Growth(%)	62.31	9.02	54.18	52.34	20.97	16.24	-6.02
EPS Growth(%)	32.06	2.59	54.32	56.49	17.92	20.92	-5.1
Debt/Equity(x)	0.98	0.77	0.51	0.25	0.26	0.15	0.09
Current Ratio(x)	1.2	1.15	1.3	1.57	1.69	1.91	2.07
Quick Ratio(x)	0.95	0.86	0.98	1.11	1.24	1.36	1.47
Interest Cover(x)	2.16	2.35	3.73	8.97	9.55	16.54	25.83
Total Debt/Mcap(x)	0.75	0.44	0.13	0.06	0.11	0.04	0.02

Radico Khaitan Shareholding Pattern

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	40.31	40.31	40.3	40.29	40.27	40.27	40.27	40.27	40.27	40.27
FII	18.03	18.25	19.46	19.78	20.06	20.48	19.28	18.35	18.86	18.93
DII	16.62	16.99	17.13	18.18	18.67	18.61	19.24	20.26	22.85	23.23
Public	25.05	24.46	23.11	21.75	21	20.64	21.21	21.13	18.01	17.57
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	5.38	5.38	5.38	5.38	5.38	5.38	5.38	5.38	5.38	5.38
FII	2.41	2.44	2.6	2.64	2.68	2.74	2.58	2.45	2.52	2.53
DII	2.22	2.27	2.29	2.43	2.5	2.49	2.57	2.71	3.05	3.1
Public	3.34	3.27	3.09	2.91	2.81	2.76	2.84	2.82	2.41	2.35
Others	0	0	0	0	0	0	0	0	0	0
Total	13.35	13.35	13.36	13.36	13.37	13.37	13.37	13.37	13.37	13.37