Q4 2024 Radico Khaitan Ltd Earnings Call Transcript
Key Points
- Prestige & Above category brands grew by 14% year-on-year, with overall growth during FY24 at 20%.
- Magic Moments vodka recorded 6.3 million cases sales during the year, with a gross sales value of INR1,000 crores.
- Morpheus Super Premium brandy and 1965 Spirit of Victory Premium rum crossed the 1 million case sales for the second consecutive year.
- Royal Ranthambore whiskey's volume more than doubled, and the company signed an endorsement deal with Bollywood star Saif Ali Khan.
- The company successfully launched Kohinoor Reserve Indian dark rum, priced at about USD50 per bottle, targeting global markets including the USA, UK, EU, and Asia.
- Total IMFL volume reported a degrowth of 1.2% on a year-on-year basis.
- The cost of grain, ENA, and glass has been volatile, leading to significant pressure on gross margins.
- Regular category volume was impacted due to strategic rationalization of the portfolio and certain state-specific excise policy changes.
- The company faced challenges due to election-related disruptions, including dry days and excise officer availability.
- There was a 150 basis points compression in gross margin in Q4 compared to the full year, indicating cost pressures.
Ladies and gentlemen, good day, and welcome to Radico Khaitan Q4 FY24 earnings conference call hosted by Dolat Capital. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Yash Visharia from Dolat Capital.
Thank you, and over to you sir.
Thank you, Steve. Good afternoon, everyone. On behalf of the Dolat Capital, we welcome you all to Q4 FY24 earnings call of Radico Khaitan. We would like to thank the management for giving us the opportunity to host the call. We have with us Mr. Abhishek Khaitan, Managing Director; Mr. Amar Sinha, Chief Operating Officer; Mr. Dilip Banthiya, Chief Financial Officer; and Mr. Sanjeev Banga, President, International business. I would now like to hand over the call to Mr. Abhishek Khaitan, for his opening comments. Thank you, and over to you, sir.
Good afternoon, ladies and gentlemen. Thank you for
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