Radico Khaitan reported profit growth of 125 percent in the March 2021 quarter. The EBITDA was up 23 percent and revenues were up 19 percent.
Detailing the numbers, Dilip Banthiya, CFO of the company said the currently it is an uncertain environment with 50 percent of retail shops being shut.
However, he said, “The difference in the lockdown last time versus this year is that government has allowed manufacturing and the shops with some restricted time to operate and open. So sales are happening, dispatches are happening.”
Banthiya said that states like Uttar Pradesh, Karnataka, Telangana, Andhra Pradesh, and Maharashtra are doing well. “Baring April and May, these states have been on growth path even pre-pandemic time. So as the situation normalises, with our premium portfolio and new launches, which is already lined up, we will be having double-digit growth,” he said.
He also believes the momentum in the Prestige & Above category will continue to be double-digit in the coming years.
“Our Prestige & Above category which is around 29 percent by volume and around 52 percent by value, we expect the premium category to grow by double-digit continuously with the normalized timing,” he said.Watch the video for more.