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Radico Khaitan

BSE:532497
Snowflake Description

Excellent balance sheet with reasonable growth potential and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
532497
BSE
₹38B
Market Cap
  1. Home
  2. IN
  3. Food, Beverage & Tobacco
Company description

Radico Khaitan Limited manufactures and trades in alcohol and alcoholic beverages primarily in India. The last earnings update was 439 days ago. More info.


Add to Portfolio Compare Print
  • Radico Khaitan has significant price volatility in the past 3 months.
532497 Share Price and Events
7 Day Returns
-1.4%
BSE:532497
-0%
IN Beverage
-0.5%
IN Market
1 Year Returns
-13.3%
BSE:532497
9.1%
IN Beverage
-1.8%
IN Market
532497 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Radico Khaitan (532497) -1.4% 2.8% -19.6% -13.3% 217.2% 181.3%
IN Beverage -0% 3.2% 0.2% 9.1% 39.1% 49.1%
IN Market -0.5% -2.7% -4.7% -1.8% 22.9% 34.2%
1 Year Return vs Industry and Market
  • 532497 underperformed the Beverage industry which returned 9.1% over the past year.
  • 532497 underperformed the Market in India which returned -1.8% over the past year.
Price Volatility
532497
Industry
5yr Volatility vs Market

Value

 Is Radico Khaitan undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Radico Khaitan to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Radico Khaitan.

BSE:532497 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.4%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:532497
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.561 (1 + (1- 35%) (15.66%))
0.744
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.8 * 8.6%)
14.43%

Discounted Cash Flow Calculation for BSE:532497 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Radico Khaitan is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:532497 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 14.43%)
2020 1,367.00 Analyst x2 1,194.62
2021 2,295.00 Analyst x2 1,752.68
2022 2,114.40 Est @ -7.87% 1,411.13
2023 2,045.82 Est @ -3.24% 1,193.19
2024 2,045.71 Est @ -0.01% 1,042.66
2025 2,091.97 Est @ 2.26% 931.78
2026 2,172.46 Est @ 3.85% 845.62
2027 2,280.18 Est @ 4.96% 775.62
2028 2,410.97 Est @ 5.74% 716.69
2029 2,562.39 Est @ 6.28% 665.65
Present value of next 10 years cash flows ₹10,529.64
BSE:532497 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ₹2,562.39 × (1 + 7.55%) ÷ (14.43% – 7.55%)
₹40,055.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹40,055.90 ÷ (1 + 14.43%)10
₹10,405.61
BSE:532497 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹10,529.64 + ₹10,405.61
₹20,935.25
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹20,935.25 / 133.41
₹156.93
BSE:532497 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹156.93
Current discount Discount to share price of ₹283.85
= -1 x (₹283.85 - ₹156.93) / ₹156.93
-80.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Radico Khaitan is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Radico Khaitan's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Radico Khaitan's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:532497 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-03-31) in INR ₹9.30
BSE:532497 Share Price ** BSE (2019-07-16) in INR ₹283.85
India Beverage Industry PE Ratio Median Figure of 13 Publicly-Listed Beverage Companies 15.01x
India Market PE Ratio Median Figure of 2,834 Publicly-Listed Companies 14.78x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Radico Khaitan.

BSE:532497 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:532497 Share Price ÷ EPS (both in INR)

= 283.85 ÷ 9.30

30.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Radico Khaitan is overvalued based on earnings compared to the IN Beverage industry average.
  • Radico Khaitan is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Radico Khaitan's expected growth come at a high price?
Raw Data
BSE:532497 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
22.4%per year
India Beverage Industry PEG Ratio Median Figure of 5 Publicly-Listed Beverage Companies 1.63x
India Market PEG Ratio Median Figure of 536 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

BSE:532497 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 30.53x ÷ 22.4%

1.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Radico Khaitan is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Radico Khaitan's assets?
Raw Data
BSE:532497 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-03-31) in INR ₹86.78
BSE:532497 Share Price * BSE (2019-07-16) in INR ₹283.85
India Beverage Industry PB Ratio Median Figure of 18 Publicly-Listed Beverage Companies 1.24x
India Market PB Ratio Median Figure of 3,668 Publicly-Listed Companies 0.95x
BSE:532497 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:532497 Share Price ÷ Book Value per Share (both in INR)

= 283.85 ÷ 86.78

3.27x

* Primary Listing of Radico Khaitan.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Radico Khaitan is overvalued based on assets compared to the IN Beverage industry average.
X
Value checks
We assess Radico Khaitan's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Beverage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Beverage industry average (and greater than 0)? (1 check)
  5. Radico Khaitan has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Radico Khaitan expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Radico Khaitan expected to grow at an attractive rate?
  • Radico Khaitan's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Radico Khaitan's earnings growth is expected to exceed the India market average.
  • Radico Khaitan's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
BSE:532497 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:532497 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 22.4%
BSE:532497 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 10.9%
India Beverage Industry Earnings Growth Rate Market Cap Weighted Average 20.3%
India Beverage Industry Revenue Growth Rate Market Cap Weighted Average 12%
India Market Earnings Growth Rate Market Cap Weighted Average 17%
India Market Revenue Growth Rate Market Cap Weighted Average 9.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:532497 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:532497 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 25,336 2,585 2,697 3
2020-03-31 23,182 2,244 2,286 3
2019-03-31 20,615 3,799 1,931 2
BSE:532497 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-03-31 18,228 3,163 1,240
2017-03-31 16,799 2,520 802
2016-12-31 15,858 815
2016-09-30 16,009 860
2016-06-30 15,562 812
2016-03-31 16,518 -363 781
2015-12-31 15,088 770
2015-09-30 15,205 729
2015-06-30 15,132 692

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Radico Khaitan's earnings are expected to grow significantly at over 20% yearly.
  • Radico Khaitan's revenue is expected to grow by 10.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:532497 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Radico Khaitan Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:532497 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 20.25 21.20 19.04 4.00
2020-03-31 17.15 17.60 16.49 4.00
2019-03-31 14.52 14.85 14.00 3.00
BSE:532497 Past Financials Data
Date (Data in INR Millions) EPS *
2018-03-31 9.30
2017-03-31 6.03
2016-12-31 6.13
2016-09-30 6.48
2016-06-30 6.11
2016-03-31 5.87
2015-12-31 5.79
2015-09-30 5.47
2015-06-30 5.20

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Radico Khaitan is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Radico Khaitan's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Radico Khaitan has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Radico Khaitan performed over the past 5 years?

  • Radico Khaitan's last earnings update was 439 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Radico Khaitan's growth in the last year to its industry (Beverage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient data to establish if Radico Khaitan's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Radico Khaitan's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Radico Khaitan's earnings growth has exceeded the IN Beverage industry average in the past year (54.6% vs 40.4%).
Earnings and Revenue History
Radico Khaitan's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Radico Khaitan Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:532497 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-03-31 18,227.66 1,239.61 2,505.45
2017-03-31 16,799.01 801.68 2,288.57
2016-12-31 15,857.85 814.52 3,056.58
2016-09-30 16,008.60 860.23 3,010.19
2016-06-30 15,562.38 812.25 2,845.83
2016-03-31 16,518.24 781.45 2,123.05
2015-12-31 15,088.44 770.16 4,436.63
2015-09-30 15,204.83 729.11 4,496.75
2015-06-30 15,132.16 691.78 3,919.97
2015-03-31 14,883.93 676.35 2,376.86
2014-12-31 14,941.73 626.39 4,458.78
2014-09-30 14,740.47 628.89 4,430.75
2014-06-30 14,245.79 652.97 3,889.89
2014-03-31 14,517.02 712.60 4,348.86
2013-12-31 14,313.85 770.75 4,082.95
2013-09-30 13,695.41 739.38 3,809.88
2013-06-30 13,159.83 786.76 3,145.61
2013-03-31 12,583.89 772.82 3,582.78
2012-12-31 12,157.81 660.29 3,546.10
2012-09-30 11,886.01 713.06 3,497.27

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Radico Khaitan has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Radico Khaitan used its assets less efficiently than the IN Beverage industry average last year based on Return on Assets.
  • Radico Khaitan has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Radico Khaitan's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Beverage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Radico Khaitan has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Radico Khaitan's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Radico Khaitan's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Radico Khaitan is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Radico Khaitan's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Radico Khaitan's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Radico Khaitan Company Filings, last reported 1 year ago.

BSE:532497 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-03-31 11,568.49 5,920.51 646.17
2017-03-31 10,441.23 7,990.36 572.35
2016-12-31 10,030.42 7,545.19 644.17
2016-09-30 10,030.42 7,545.19 644.17
2016-06-30 9,044.69 8,514.40 613.92
2016-03-31 9,773.00 9,597.15 627.03
2015-12-31 8,690.19 6,939.50 678.64
2015-09-30 8,690.19 6,939.50 678.64
2015-06-30 8,292.84 7,384.28 603.28
2015-03-31 8,292.84 8,492.56 603.28
2014-12-31 8,002.17 7,725.34 636.16
2014-09-30 8,002.17 7,725.34 636.16
2014-06-30 7,810.67 8,291.34 652.85
2014-03-31 7,810.67 9,038.05 652.85
2013-12-31 7,469.34 8,302.56 716.45
2013-09-30 7,469.34 8,302.56 716.45
2013-06-30 7,281.93 7,194.06 662.17
2013-03-31 7,281.93 7,683.22 662.17
2012-12-31 7,386.82 7,106.97 760.19
2012-09-30 7,386.82 7,106.97 760.19
  • Radico Khaitan's level of debt (51.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (105.4% vs 51.2% today).
  • Debt is well covered by operating cash flow (53.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.5x coverage).
X
Financial health checks
We assess Radico Khaitan's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Radico Khaitan has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Radico Khaitan's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.35%
Current annual income from Radico Khaitan dividends. Estimated to be 0.53% next year.
If you bought ₹2,000 of Radico Khaitan shares you are expected to receive ₹7 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Radico Khaitan's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.56%).
  • Radico Khaitan's dividend is below the markets top 25% of dividend payers in India (2.18%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:532497 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
India Beverage Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 0.2%
India Market Average Dividend Yield Market Cap Weighted Average of 1447 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:532497 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 1.60 1.00
2020-03-31 1.40 1.00
2019-03-31 1.20 1.00
BSE:532497 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-08-06 1.000 0.268
2017-08-31 0.800 0.275
2016-06-10 0.800 0.682
2015-09-10 0.800 0.813
2015-05-22 0.800 0.919
2014-09-15 0.800 0.907
2014-05-30 0.800 0.795
2013-09-02 0.800 0.597
2012-08-01 0.800 0.664
2011-09-12 0.700 0.587
2010-09-27 0.600 0.420
2010-02-01 0.300 0.234
2009-07-01 0.300 0.288
2009-03-31 0.300 0.420

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Radico Khaitan's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (9.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (12.7x coverage).
X
Income/ dividend checks
We assess Radico Khaitan's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Radico Khaitan afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Radico Khaitan has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Radico Khaitan's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lalit Khaitan
COMPENSATION ₹53,812,000
AGE 75
CEO Bio

Dr. Lalit Khaitan has been the Chairman and Managing Director of Radico Khaitan Ltd., since February 20, 2003. Dr. Khaitan is leading Radico Khaitan Ltd. for more than 27 years. He has 44 years of industry experience. He is a philanthropist and has sponsored schools for underprivileged children. He serves as an Executive Director of Radico Khaitan Ltd. He has been awarded the lifetime achievement award by the Confederation of Indian Alcoholic Beverage Companies in 2005 and by Alcobev in 2008. He holds B.Com. Dr. Khaitan studied at Mayo College, Ajmer and holds a Bachelor's Degree in Commerce and a Management Course from Harvard University, USA.

CEO Compensation
  • Lalit's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Lalit's remuneration is higher than average for companies of similar size in India.
Management Team

Lalit Khaitan

TITLE
Chairman & MD
COMPENSATION
₹54M
AGE
75

Abhishek Khaitan

TITLE
MD & Executive Director
COMPENSATION
₹51M
AGE
46

Dilip Banthiya

TITLE
Chief Financial Officer
COMPENSATION
₹28M
AGE
55

Amit Manchanda

TITLE
VP of Legal
COMPENSATION
₹6M
TENURE
9.5 yrs

Krishan Singh

TITLE
Whole Time Director
COMPENSATION
₹21M
AGE
67

Amar Sinha

TITLE
Chief Operating Officer
AGE
47

Ajay Agarwal

TITLE
President of Finance & Accounts

Rahul Gagerna

TITLE
President of Sales and Marketing
TENURE
6.4 yrs

Kulbir Chaudhry

TITLE
Senior Vice President of Human Resources
AGE
61

Kanumuri Raju

TITLE
President of Manufacturing & Operations
COMPENSATION
₹3M
AGE
75
Board of Directors Tenure

Average tenure and age of the Radico Khaitan board of directors in years:

15.8
Average Tenure
73
Average Age
  • The average tenure for the Radico Khaitan board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Abhishek Khaitan

TITLE
MD & Executive Director
COMPENSATION
₹51M
AGE
46
TENURE
6.4 yrs

Krishan Singh

TITLE
Whole Time Director
COMPENSATION
₹21M
AGE
67
TENURE
16.5 yrs

Ashutosh Patra

TITLE
Non-Executive Independent Director
COMPENSATION
₹385K
AGE
73
TENURE
16.5 yrs

Lalit Khaitan

TITLE
Chairman & MD
COMPENSATION
₹54M
AGE
75
TENURE
16.4 yrs

Sarvesh Srivastava

TITLE
Non-Executive Independent Director
COMPENSATION
₹210K
TENURE
5.2 yrs

Raghupati Singhania

TITLE
Non-Executive Independent Director
COMPENSATION
₹250K
AGE
73
TENURE
16.5 yrs

Kama Mehta

TITLE
Non-Executive Independent Director
COMPENSATION
₹195K
AGE
73
TENURE
15.8 yrs

Saraf Devi

TITLE
Non-Executive Non-Independent Director
COMPENSATION
₹95K
AGE
50
TENURE
5.2 yrs

Sushmita Singha

TITLE
Independent Women Director
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
07. Feb 19 Sell Krishan Singh Individual 05. Feb 19 06. Feb 19 -16,000 ₹430.72 ₹-6,775,933
X
Management checks
We assess Radico Khaitan's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Radico Khaitan has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should You Sell Radico Khaitan Limited (BOM:532497) At This PE Ratio?

and want to begin learning the link between Radico Khaitan Limited (BOM:532497)’s fundamentals and stock market performance. … Radico Khaitan Limited (BOM:532497) is currently trading at a trailing P/E of 65.9x, which is higher than the industry average of 29.1x. … Check out our latest analysis for Radico Khaitan

Simply Wall St -

Company Info

Description

Radico Khaitan Limited manufactures and trades in alcohol and alcoholic beverages primarily in India. The company provides Indian made foreign liquor, country liquor, etc. It offers whisky under the 8PM, Royal Whytehall, and After Dark brands; rum under the Contessa and 8 PM Bermuda brands; brandy under the Old Admiral, 8 PM Excellency, and Morpheus brands; and vodka under the Magic Moments, Magic Moments Remix, and Verve brands, as well as ready to drink under the Electra brand. The company also supplies bulk spirits; and offers bottling services to other spirit manufacturers. It exports its products to approximately 70 countries worldwide. The company was formerly known as Rampur Distillery. Radico Khaitan Limited was founded in 1943 and is based in New Delhi, India.

Details
Name: Radico Khaitan Limited
532497
Exchange: BSE
Founded: 1943
₹37,808,185,701
133,409,265
Website: http://www.radicokhaitan.com
Address: Radico Khaitan Limited
Plot No.J-1,
Block B-1,
New Delhi,
Delhi, 110044,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 532497 Equity Shares Mumbai Stock Exchange IN INR 18. Jun 2003
NSEI RADICO Equity Shares National Stock Exchange of India IN INR 18. Jun 2003
Number of employees
Current staff
Staff numbers
1,141
Radico Khaitan employees.
Industry
Distillers and Vintners
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 12:46
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/09
Last earnings filing: 2018/05/03
Last earnings reported: 2018/03/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.