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ICICI Direct Report
Radico Khaitan Ltd.'s margins were impacted due to a sharp rise in input costs.
Net revenues grew 18% YoY to Rs 813 crore, Indian-made foreign liquor volume grew 16% YoY.
Ebitda de-grew 21% to Rs 80 crore with margins at 9.8% (versus 14.7% in Q4 FY21).
Subsequently, profit after tax de-grew 32% to Rs 50 crore.
In spite of the current inflationary environment being faced by the liquor sector, Radico has been steadily building up its premium portfolio (31% of volumes). Also, with its vertically integrated model and price hikes in a few states, it remains resilient in the medium to long term.
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