Business Standard

Radico Khaitan stock surges 4% on strong Q4 performance

The company's consolidated revenue from operations stood at Rs 3,894.6 crore in Q4FY24, as opposed Rs 3,375.4 crore in Q4FY23

equity trading volumes, share market

Representational Image

SI Reporter New Delhi

Listen to This Article

Shares of liquor maker Radico Khaitan on Wednesday surged as much as 3.65 per cent to hit an intraday high of Rs 1,670.50 per share.

The rise came on the back of robust quarter-ending March of financial year 2024 (Q4FY24) results. Radico Khaitan’s consolidated profit jumped 26.4 per cent on a year-on-year (Y-o-Y) basis to Rs 53.91 crore in the fourth quarter of FY24, from Rs 42.6 crore in the same quarter a year ago (Q4FY23).

The company’s consolidated revenue from operations rose 15.4 per cent to Rs 3,894.6 crore in Q4FY24, as opposed Rs 3,375.4 crore in Q4FY23.

In the fourth quarter, total Indian-made foreign liquor (IMFL) volume stood at 7.16 million cases, down 1.2 per cent. Meanwhile, prestige and above brands volume came in at 2.92 million cases, up 14.2 per cent.

Total expenses were higher at Rs 3,820.3 crore, as against Rs 3,325.4 crore in the same quarter last year.

For the fiscal ended on March 31, 2024, consolidated net profit was Rs 262.17 crore, up from Rs 220.35 crore in the previous fiscal. In FY24, consolidated revenue from operations stood at Rs 15,483.88 crore as against Rs 12,743.91 crore in FY23.

The Board of Directors of the company recommended a dividend of Rs 3 per equity share of face value of Rs 2 for FY24.

"FY24 has been a year of consolidation for Radico Khaitan. During the year, we delivered strong operational performance despite a difficult macroeconomic environment," said Lalit Khaitan, chairman and managing director of Radico Khaitan.
 
"With rising affluence, low per-capita consumption levels, and a strong premiumisation trend, we are confident in the mid-to-long-term potential of the Indian alcobev sector, he added.

The 52-week low of Radico Khaitan stock is Rs 1,094.75 while 52-week high is Rs 1,882.05 per share.

The market valuation of the liquor maker is Rs 21,982.13 crore, according to Bombay Stock Exchange.

At 11:28 AM, shares of Radico Khaitan were trading 2 per cent higher at Rs 1,643.95 per share. By comparison, S&P BSE Sensex was down 0.18 per cent at 72,970.47 levels.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 15 2024 | 11:39 AM IST

Explore News