Radico Khaitan To Expand Royal Ranthambore Whisky In Canteen Stores Department
Royal Ranthambore has recorded a strong growth over the last two years and its entry into the CSD will accelerate this momentum, says the managing director.
Radico Khaitan Ltd. will expand the presence of its Royal Ranthambore Whisky in the canteen stores department — retail outlets under the Ministry of Defence in military bases that provide consumer goods to the troops at a cheaper price.
The move comes at a time when Royal Ranthambore has witnessed an "exceptional growth" since its launch in 2021, according to an exchange filing on Thursday. "The brand has quickly gained popularity, fuelled by the increasing consumer preference for premium Indian spirits."
The liquor maker has led India's premiumisation trend, with luxury and semi-luxury brands contributing Rs 100 crore in net sales in the third quarter of the current financial year and Rs 250 crore in the first nine months of the fiscal, it said.
Due to high demand in both domestic and international markets, the company is expecting to cross Rs 500 crore in net sales in the next fiscal.
"Royal Ranthambore has recorded a strong growth over the last two years and its entry into the CSD will accelerate this momentum in the future," Managing Director Abhishek Khaitan said. "This expansion aligns with our vision to strengthen our luxury & semi-luxury brand portfolio and cater to evolving consumer preferences."
Q3 Performance
Radico Khaitan's net profit rose 27% to Rs 95.5 crore in the third quarter from Rs 75.2 crore in the year-ago period. Revenue from operations rose 8% to Rs 4,440.9 crore in the October–December period from Rs 4,111.2 crore in the same period of the previous fiscal.
Radico Khaitan's total Indian made foreign liquor volume reached 8.36 million cases for the quarter under review, a 15% increase year-on-year.
Shares of Radico Khaitan closed 8.87% higher at Rs 2,195.70 apiece on the National Stock Exchange, compared to a 0.09% fall in the benchmark Nifty. The stock has risen 36.51% in the last 12 months.
Nine out of the 12 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 13.3%.
