Radico Khaitan Limited is a leading Indian spirits company that produces a wide range of premium and popular alcohol brands. The company’s product portfolio includes whisky, rum, brandy, vodka, and other spirits, which are sold in India and around the world. Radico Khaitan Limited is known for its high-quality products, which have earned the company a strong reputation in the Indian alcohol industry.
In the first nine months of the 2022-23 financial year, Radico Khaitan Limited has reported strong growth in both sales volume and value for their premium IMFL brands. Despite only marginal growth in the overall volume of cases sold, the company has experienced double-digit growth in the volume and net sales of their prestige and above brand sales in Q3. This impressive performance is a testament to the company’s continued focus on innovation, customer satisfaction, and premiumisation.
Dr. Lalit Khaitan, CMD, Radico Khaitan, said“ As we continue to make strides on our premiumisation journey, the availability of additional grain based ENA will strengthen our value proposition. We remain committed to our long term strategy of focusing on premiumization, along with managing our business with agility and driving backward integration efficiencies. While the raw material scenario still remains volatile, we have seen early signs of deflation in certain commodities. Furthermore, we have recently received price increases in the non-IMFL business in the state of UP which will hold us in good stead in the next fiscal year.”
Radico Khaitan Limited’s prestige and above brands include some of the most popular and well-known spirits brands in India, such as Magic Moments Vodka and Morpheus Brandy. These brands have been the focus of the company’s premiumisation strategy, which involves investing in high-quality ingredients, unique packaging, and targeted marketing campaigns to attract and retain customers who value premium and high-end products. As a result of this strategy, the volume of prestige and above brands sold has increased by 14 percent compared to the same period last year, and the net sales value of these brands has grown by 19.1 percent.
Abhishek Khaitan, Managing Director of Radico Khaitan Limited, has attributed the company’s strong performance to its consumer-centric approach and its focus on premiumisation.
He believes that by investing in high-quality products and marketing campaigns that speak directly to consumers, the company has been able to establish a strong brand image and grow its market share in India’s competitive alcohol industry. Furthermore, he has noted that the company’s greenfield project in Sitapur will further strengthen its position in the industry by providing additional production capacity to support the company’s future growth plans.