Q2 FY2017 Net Profit up by a strong 27.4% y-o-y; Net Sales increased by 11.3%
Net Debt declined by over Rs. 100 Crore compared to March 2016
Performance Highlights: Q2 FY2017 vs. Q2 FY2016
* Net Sales of Rs. 438.7 Crore; up 11.3%
* Total Volumes up 4.5%; Prestige & Above brands volume growth at 13.0%
* Prestige & Above brands contribution to the total IMFL volumes increased from 25.7% to 26.7%
* EBITDA of Rs. 56.8 Crore up 15.8%; EBITDA margin improved by 51 bps to 12.9%
* Net Income of Rs. 21.8 Crore up 27.4%
* Net Debt as at 30-September-2016 of Rs. 740.1 Crore vs. Rs. 840.9 Crore as at31-March-2016 (a decline of Rs. 100.8 Cr)
New Delhi, India, November 4, 2016 – RadicoKhaitan Limited, one of the largest spirits companies in India (referred to as “RadicoKhaitan” or the “Company”), announces its Second Quarter results for FY2017.
Financial Overview
Net Sales excludes Other Operating Income.
Pursuant to the Companies (Indian Accounting Standards) Rules 2015 (Ind AS) issued by the Ministry of Corporate Affairs, the Company has prepared the financial results for Q2 and Half Year FY2017 in accordance with the requirements of Indian Accounting Standards (Ind AS).
The results for Q2 and Half Year FY2016, have also been restated by the Company as per the requirements of Ind AS.
Commenting on the performance, Dr.LalitKhaitan, Chairman and Managing Director said:
“After a strong start to the year, I am pleased to announce another quarter with a stellar performance. Our topline continued to improve driven by a robust Prestige & Above category volume growth. What is more heartening is the consistent improvement in our profitability. This has resulted in higher cash flow generation and the consequent reduction in the overall net debt. I would like to take this opportunity to congratulate the management team for their outstanding efforts that have resulted in the Quality Earnings and Superior Cash Flows.”
Commenting on the performance, Mr. Abhishek Khaitan, Managing Director said:
“Our topline increased by 11.3% y-o-y during Q2 FY2017 and Net Profit reported a strong 27.4% growth during the same period. This was led by our ongoing focus on the premium product portfolio. We continue to launch select brands to expand our product portfolio for the next stage of growth. While our established brands such as Magic Moments continue to gain market share and lead the category, our recent launches such as Electra continue to receive positive feedback from consumer and trade channels. Furthermore, our ongoing deleveraging strategy has started to show results. We remain optimistic about our performance and relentlessly focused on profitable growth in the coming quarters.”
RadicoKhaitan at a Glance
