Chennai, May 18, 2011
Radico Khaitan Ltd., one of the largest liquor companies in the country today announced its audited fourth quarter results for the year 2010-11. The company has registered Net profit of Rs.17.4 crores as compared to Rs.9.6 crore in the corresponding quarter of FY2010. The company registered Net Sales in Q4 of FY2011 at Rs.333.8 crore, against sales of Rs.297.7 crore over corresponding quarter in the previous year, thereby showing a growth of 12.1%.
Commenting on the results, Dr. Lalit Khaitan, Chairman & Managing Director, Radico Khaitan Limited said, "Radico Khaitan continues to consolidate its position as one of the leading players in the spirits industry in India. We had a strong performance in FY2011 as a result of our continued focus on the premiumization of our portfolio. The company has registered Net profit of Rs.72.8 crores as compared to Rs.41.5 crore in the previous year of FY2010. The company registered Net Sales FY2011 at Rs.1330.6 crore, against sales of Rs.1147.1 crore over corresponding year, thereby showing a growth of 16.0%".
He further added "Last year, Magic Moments performed well and achieved volumes of close to 2 million cases and we were delighted to receive the Monde Selection's Grand Gold Award for one of our remix brands. Morpheus premium brandy, which was launched in mid 2009, has not only won Gold at the Monde Selection this year but has also attained leadership position in its category and is growing at a rapid pace. After Dark whisky which was test marketed last year is being rolled out on a nationwide basis this year. We also remain focused on enhancing operational efficiency, productivity and cash flows".
Commenting on the results, Mr. Abhishek Khaitan, Managing Director, said, "Our continued focus on premiumization has resulted in higher revenues. The mainline brands are expected to register significant growth in the coming year. This focus on premiumization is expected to further enhance EBITDA margins. Magic Moments is well positioned to capitalize on the vodka industry growth and Morpheus premium brandy which has already achieved volumes of over 230,000 cases in FY2011 will further consolidate its leadership position in the market and continue to grow at a fast pace".
He further added," In April 2011, Radico Khaitan signed an agreement with Suntory, one of the world's largest premium spirits companies. The agreement intends to market and distribute some of Suntory's super premium brands including Yamazaki, 12YO, single malt and Hibiki, 17YO blended whisky, in India. This agreement will further strengthen the Company's international brand division".
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