Radico Khaitan Limited

Investment Banking·snapshot·3y
Company Overview
  • Radico Khaitan Limited was founded in 1943 as Rampur Distillery and has evolved into one of India's oldest and largest Indian Made Foreign Liquor (IMFL) manufacturers , promoted and managed by the Khaitan family under Chairman & Managing Director Dr. Lalit Khaitan and Managing Director Mr. Abhishek Khaitan , with its registered office at Rampur Distillery, Rampur, Uttar Pradesh and corporate office in New Delhi .

  • Radico Khaitan is among the oldest and one of the largest manufacturers of Indian Made Foreign Liquor (IMFL) in India , operating across all segments from regular to luxury with eight millionaire brands as of FY25 and an entire brand portfolio developed organically .

Products & Business Segments

Radico Khaitan competes across the full IMFL price spectrum — from Popular to Luxury — with eight millionaire brands and a rapidly scaling luxury portfolio.

  • Whisky: 8PM (Popular), After Dark Blue (Prestige; 3.1mn cases, +60% in FY2026 ), Royal Ranthambore Heritage Collection (Premium; +50% in FY2026 ), Rampur Indian Single Malt (Luxury; 8 expressions, ~50 countries )
  • Vodka: Magic Moments (6th largest globally, 60% India share, 8.6mn cases in FY2026 ); Verve; Spirit of Kashmyr saffron-infused variant
  • Brandy: Morpheus Super Premium (>60% India brandy share ); Old Admiral
  • Gin: Jaisalmer Indian Craft Gin (50% luxury gin share in India, 40 countries )
  • Rum: Contessa; 1965 Spirit of Victory
  • Luxury sub-portfolio: Rampur, Jaisalmer, Royal Ranthambore — ₹475 crore in FY2026 sales value
  • Non-IMFL: Bulk alcohol / industrial spirits — ₹1,694.9 crore in FY2026 revenue
  • New ventures: D'Yavol Spirits tequila launched October 2025 in partnership with Shah Rukh Khan
Millionaire Brands
8
P&A Share of IMFL Volume (FY2026)
45.6%
up from 29.0% in FY2020
Luxury Portfolio Sales (FY2026)
₹475 crore
Magic Moments Vodka Volume (FY2026)
8.6mn cases
+21% y-o-y
Operating Footprint & KPIs

Radico Khaitan operates one of India's largest IMFL manufacturing and distribution platforms, anchored by six distilleries, a pan-India bottling network, and export reach spanning 100 countries.

  • Manufacturing: 6 distilleries with 321.3 million litres total distillation capacity ; Sitapur greenfield commissioned September 2023 ; Rampur operates 14 bottling lines including Italian-imported equipment ; Sitapur IMFL bottling capacity of 3.8 million cases per annum
  • Bottling network: 44 units nationwide — 5 owned, 6 royalty-based, 33 tie-up/lease
  • Distribution: 100,000+ retail outlets and 10,000 on-premise locations across 30 States and Union Territories ; present in 50+ airports globally
  • Volume: Total IMFL volume of 38.33 million cases in FY2026, up 22.2% year-on-year ; Prestige & Above grew 28% in Q4 FY2026
  • International: Products exported to 100 countries ; Rampur Single Malt in ~50 countries; Jaisalmer Gin in ~40 countries with 50% luxury gin share in India
  • Employees: 1,494 permanent employees as of March 31, 2025
  • Brands: 7 million-dollar brands with global rankings