Q1 2025 Radico Khaitan Ltd Earnings Call Transcript
Key Points
- Radico Khaitan Ltd (BOM:532497) achieved strong premium volume growth despite a challenging operating environment.
- The Prestige & Above category saw a 14% year-on-year volume growth and a 19% value growth.
- The company launched several new luxury brands, including Rampur Asava, Sangam World Malt, and Jaisalmer Gold Edition, enhancing its premium portfolio.
- Magic Moments Vodka continued its growth momentum, recording 1.9 million cases in Q1 FY25 and crossing sales value of INR300 crores.
- Radico Khaitan Ltd (BOM:532497) is focused on strengthening its brand portfolio through targeted marketing and the introduction of new luxury and premium brands.
- IMFL volume reported a degrowth of 4% year-on-year, primarily due to a decline in the regular category.
- Gross margin decreased to 41.5% from 43.6% in Q1 FY24, impacted by significant food grain inflation.
- The regular category volumes were affected by ongoing strategic rationalization and state-specific excise policy issues.
- There were delays in excise policies and elections in certain states, impacting industry growth and sales volumes.
- Increased net debt over March '24 due to cyclical inventory buildup and higher receivables in certain states.
Ladies and gentlemen, good day, and welcome to Radico Khaitan Q1 FY25 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. Himanshu Shah from Dolat Capital. Thank you, and over to you, sir.
Thank you, Yusuf. Good afternoon, everyone. At this moment, we would like to thank Radico Khaitan's management team for providing Dolat Capital with the opportunity to host the Q1 FY25 earnings call.
We have with us the senior leadership team from Radico Khaitan. Mr. Abhishek Khaitan, MD and CEO; Mr. Amar Sinha, Chief Operating Officer; Mr. Dilip Banthiya, Chief Financial Officer; and Mr. Sanjeev Banga, President, International Business.
I will now hand over the call to Mr. Abhishek Khaitan for his opening remarks. Over to you, sir.
Thank you, Himanshu. Good afternoon, ladies
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