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Radico Khaitan Ltd. (BSE: 532497; NSE: RADICO) Investor Presentation February 2026 T aking India to the World
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Index 1. Industry dynamics 2 2 2. Company overview 9 9 3. Strategic direction 12 12 4. Brand portfolio 13 13 5. Financial performance 55 55
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Investor Presentation | February 2026 2 India Macroeconomic Context India remains one of the fastest growing economies globally with strong demographic dividend Driver 1 – Income Growth Middle-class expansion and emergence of a sizeable high-income segment Transformation of consumption profile Driver 2 – Rapid Urbanization Dispersed urbanization and rural income growth Growth of rural consumption and breakdown of the urban-rural paradigm Driver 3 – Favorable Demographics A working age majority A more aware and aspirational young millennials Driver 4 – Technology and Innovation Existing technology backbone New technology and business model innovations Driver 5 – Evolving Consumer Attitudes Preferences led by lifestyle and premiumization in addition to necessities, health, and leisure Alcobev becoming more acceptable socially
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Investor Presentation | February 2026 3 India Consumer Story India on track to become the world's third largest consumer market by 2026 Global consumption market - India remains one of the key consumer markets in the world (US$ trillion) India's consumption growth (in nominal terms) outpaced China, US and Germany (in US$ terms) 11.4 3.5 2.8 2 1.1 18.6 6.9 2.3 2.3 2.1 US China Japan Germany India 2013 2023 7.2% 7.1% 5.0% 1.0% (2.0)% India China US Germany Japan 10 yr CAGR (2023) India's income pyramid: population with annual gross income >US$10,000 could record the highest growth (CAGR) in the next 5 years (Income brackets) More than US$ 10,000 US$ 5,000 - US$ 10,000 US$ 2,500 - US$ 5,000 US$ 1,500 - US$ 2,500 Less than US$ 1,500 79 128 612 40 79 193 222 538 88 146 251 222 442 2010 2023 2028 mn mnmn CAGR 17%12 25 CAGR 13% Luxury Premium
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Investor Presentation | February 2026 74.7% 7.6% 8.8% 8.9% 4 Spirits Industry in India Strong premiumisation trend is expected to continue to be driven by favourable demographics Sales of Spirits by Category (Volume) Sales of Spirits by Category (Value) 2024: 400 million cases Industry CAGR: 5.1% Whisky: 5.9% Brandy: 1.6% Rum: 4.1% White Spirits: 9.1% 2029: 512 million cases 2024: Rs. 2,962 billion 2029: Rs. 5,548 billion Industry CAGR: 13.4% Whisky: 15.3% Brandy: 4.8% Rum: 9.5% White Spirits: 11.9% o Spirits sales in India is estimated to have crossed 400 million cases in CY2024, representing an increase of 2.8% over CY2023 o During CY2024-29 period, IMFL sales volume is expected to grow at a CAGR of 5.1% and sales value at 13.4% o White spirits, Vodka and Gin, remain the fastest growing category in volume terms Vodka industry growth indicates a strong premiumization trend Source: Euromonitor International Indian Single Malt market is expected to see strong growth 2024-29 Growth Blended Scotch 8.4% Single Malt 12.1% 63.8% 20.0% 12.0% 4.1% 66.6% 17.0% 11.5% 4.9% 68.8% 11.2% 10.5% 9.5% 2024 Growth 11.1% 14.6% Volume Value 2024-29 Growth 8.4% 11.2% Volume Value
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5 Spirits Industry in India Strong structural growth drivers in place • Structural change towards premiumization • Progressive state excise policy framework • Increasing importance of liquor towards state revenues after the implementation of GST • Low per capital IMFL consumption of 2.5 liters in India • Country liquor represents an equally large market segment which is eventually expected to convert into IMFL • White spirits (vodka and craft gin) represent a large opportunity • Improved consumer shopping experience being a focus in the state policies • Focus on value engineering, including more sustainable alternative packaging options Consumers are ready to experiment with experiences beyond the functional social benefits of alcohol
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Investor Presentation | February 2026 6* Excluding Royalty brands for FY23 to FY25; ** Total including Royalty brands for FY23 to FY25 Continued strong premium growth Prestige & Above brands have grown at a CAGR of 13% since FY2019 Prestige & Above category volume growth of more than 212% since FY2019 Strong premium & luxury brand launches and pipeline: • FY2025: Rampur Indian Single Malt Barrel Blush and Jugalbandi #5 & 6, Ankahi Zaffran Spiced Liqueur • FY2024: Happiness in a Bottle Craft Gin, Rampur Indian Single Malt Jugalbandi #3 & 4, Spirit of Victory 1999 Pure Malt Whisky, The Kohinoor Reserve Indian Dark Rum, Magic Moments Pink Vodka • FY2023: Rampur Indian Single Malt Trigun Cask Whisky, Rampur Indian Single Malt Jugalbandi #1 & 2, Sangam World Malt Whisky, Magic Moment Vodka Cocktail, After Dark Blue Whisky • FY2022: Royal Ranthambore Whisky and Magic Moments Dazzle Vodka 6.1 7.1 6.5 8.1 9.4 11.3 13.0 15.5 17.2 15.8 18.2 15.6 13.4 15.2 21.6 24.3 22.3 26.4 28.2 28.7 31.4 28.3% 29.0% 29.1% 30.8% 37.5% 45.6% 46.1% FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Prestige & Above as % of Total Volume Volume (mn cases) Prestige & Above* Regular & Others* Total** P&A %
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Investor Presentation | February 2026 7 Continued strong premium growth Leading to a sustainable improvement in the realization per case * Excluding Royalty brands for FY23 to FY25; ** Total excluding Royalty brands for FY23 to FY25 1,307 1,389 1,510 1,547 1,600 1,717 1,801 562 579 603 606 626 634 649 773 814 864 890 991 1,128 1,180 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Realisation (Rs./case) Prestige & Above* Regular & Others* Total**
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Investor Presentation | February 2026 22% 17% 0% 5% 10% 15% 20% 25% Q1 FY2019 Q2 FY2019 Q3 FY2019 Q4 FY2019 Q1 FY2020 Q2 FY2020 Q3 FY2020 Q4 FY2020 Q1 FY2021 Q2 FY2021 Q3 FY2021 Q4 FY2021 Q1 FY2022 Q2 FY2022 Q3 FY2022 Q4 FY2022 Q1 FY2023 Q2 FY2023 Q3 FY2023 Q4 FY2023 Q1 FY2024 Q2 FY2024 Q3 FY2024 Q4 FY2024 Q1 FY2025 Q2 FY2025 Q3 FY2025 Q4 FY2025 Q1 FY2026 Q2 FY2026 Q3 FY2026 ROCE (%) EBITDA Margin (%) 8 Continued strong premium growth Coupled with the raw materials tailwinds has led to higher profitability and stronger return ratios Post-covid, premiumization trend picked up, leading to EBITDA margin expansion. ENA capacity expansion – Rampur dual feed and Sitapur greenfield projects. This coincided with the inflation cycle. Global supply chain disruption post-covid, coupled with geopolitical uncertainty induced a hyper-inflation cycle resulting in significant margin compression. The situation started to normalise towards the end of FY2025 leading to raw material tailwinds in FY2026. Ongoing premiumization coupled with a stable raw material scenario has led to significant margin expansion, and stronger return ratios. 1 2 3 4 ROCE = LTM EBIT Average Capital Employed (Equity + Gross Debt)
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9 Company Overview Largest Indian IMFL Company 1943 Year of Incorporation 80+ years of experience in spirits making. One of the most recognized IMFL brands in India 321 Million liters One of the largest spirits manufacturers. Capacity expansion completed: from 160 mn liters to 321 mn liters 44 Bottling units Strategically limiting interstate taxes and transport costs. Five own, 39 contract and royalty bottling units spread across the country 100,000 Retailers Strong distribution network. Sale through over 100,000 retail and 10,000 on premise outlets FY2025 IMFL Volume 31.4 million cases Growth of 9% Y-o-Y; Prestige & Above brand contribution to IMFL volumes of 46.1%; 69.4% in value terms FY2025 Net Revenue 4,851 (Rs. Crore) Growth of 18% Y-o-Y; EBITDA margin of 13.8% of Net Sales
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Investor Presentation | February 2026 10 Manufacturing and Distribution Platform Strong backward integration to secure quality long term raw material supply Location Distilleries Molasses Grain Malt Total Capacity (million litres) Rampur 4 19.3 82.5* 2.6 104.4 Sitapur 1 NA 108.9 NA 108.9 Aurangabad (Joint Venture) 3 42.0 66.0 NA 108.0 Total 8 61.3 257.4 2.6 321.3 Pan India manufacturing platform to cater to customer needs * Dual feed plant which can operate both on molasses and grain Contract & Royalty Bottling Units (39) Own Bottling Units (5) Distilleries (8) Printing Unit (3) PET Plant (2)
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Global Presence Significant progress in building the brand equity in the overseas markets 9% 91% Exports Domestic FY2025 IMFL Sales Value Split Exports to over 100 countries across the world
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Strategic Growth Drivers Focus on developing brands, building scale and driving a profitable growth 1. A strong and growing premium product portfolio driven by consumer preferences 2. Successful launches in the luxury space with Indian single malt and Indian craft gin 3. Robust brand equity, with well-recognized products across various categories and segments of IMFL industry in India 4. Strategically located, well equipped quality driven manufacturing facilities 5. Technology-driven research and development capabilities, led by market insights and focused on innovation 6. Pan-India sales and distribution network with an efficient supply chain management system 7. Exports to over 100 countries, which provides access to a global scale 8. Value growth with focus on profitability, lean cost structure and strong cash flow generation 9. Experienced Board and Senior Management team, supported by committed and competent employees
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Brand Portfolio Most brands launched in the last fifteen years have been in the premium category The Legacy (1943 – 1996) o 1943: The Rampur Distillery Company was established o Manufactured high quality spirit for branded players and to the armed forces / canteen stores o Gained significant experience as manufacturer of spirits and bottler for other companies o 1996: Mr. Abhishek Khaitan joined the family business and instilled the idea of creating own brands Platform for Brand Creation (1998 – 2006) o Started the branded IMFL division and launched its first brand 8PM Whisky in 1998 o 8PM became a millionaire brand within the first year of its launch o Achieved sales volume of 10 Million cases volumes o Made investment at the Rampur facility for creating a strong manufacturing platform for IMFL o Developed strong marketing machinery; Established pan-India selling and distribution setup Premiumization (2006 onwards) Luxury Brands (2016 onwards) o After creating brands in the high-volume regular categories, launched the first product in the premium category, Magic Moments Vodka in 2006 o Followed by Morpheus Super Premium Brandy, Magic Moments Verve Super Premium Vodka and other brands o 2016: Launched Rampur Indian Single Malt luxury whisky o Followed by Jaisalmer Indian Craft Gin, Royal Ranthambore Whisky, Sangam World Malt, The Spirit of Kashmyr Luxury Vodka, Rampur 1943 Virasat Indian Single Malt, etc.
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Investor Presentation | February 2026 14 The Millionaires’ Club – Global Rankings 2025 Some of the top brands of Radico Khaitan are leading brands globally Magic Moments Vodka 8PM Premium Black Whisky Morpheus Brandy After Dark Whisky 1965 Spirit of Victory Rum 8PM Whisky Contessa Rum Old Admiral Brandy 6th Largest Vodka 13th Largest Indian Whisky 4th Fastest growing Brandy 10th Largest Brandy 3rd Fastest growing Brand 1st Fastest growing Rum 7th Largest Rum 7th Largest Indian Whisky 9th Largest Rum 3rd Fastest growing Brandy 4th Largest Brandy
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Investor Presentation | February 2026 15 Brand Portfolio Broad choice for consumers with focus on premium brands Category Market Share Indicative MRP Whisky Rum Brandy Vodka Gin Luxury (US$ 50+) Semi Luxury (US$ 15+) Super Premium (US$ 10-15) Semi-Premium / Premium (US$ 8-10) Deluxe (US$ 6-8) Regular (<$US 6) MS: 5% MS: 15% MS: 60% MS: 80% CSD MS: 15% CSD MS: 18% Calendar Description automatically generated A bottle of liquor with a blue label Description automatically generated A blue and pink bottle with white text AI-generated content may be incorrect. MS: 50% A bottle of alcohol next to a box AI-generated content may be incorrect.
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Investor Presentation | February 2026 Best-in-Class Luxury Portfolio After the success of Rampur and Jaisalmer, further strengthened the Indi-lux portfolio over the past five years FY2022 FY2023 FY2024 FY2025 FY2026 The most expensive Indian whisky at the entry level scotch segment; priced higher than the competition A confluence of the finest malts sourced from traditional European origins as well as from the New World A disciplined journey from selective brands to a comprehensive, world-class Indian luxury spirits portfolio The crown jewel of luxury rums – triple aged in American Oak Barrels, followed by further maturation in Cognac XO and Vermouth casks Another core expression from the House of Rampur, reflecting our distinctive maturation techniques Luxury vodka with with an aspiration to transform into a leading global brand; A new age single malt carrying forward the legacy of Rampur Distillery
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Rampur Indian Single Malt Price ladder: Breaking the pricing barrier
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Investor Presentation | February 2026 18 Rampur Indian Single Malt In Air India (First Class and Business Class) International Flights
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Investor Presentation | February 2026 19 Rampur Indian Single Malt A Salute to the Royal Heritage Select Expressions o Rampur Double Cask: Matured in hand-picked American Bourbon barrels and European Oak Sherry casks o Eight expressions (Select, PX Sherry, Signature Reserve, Double Cask, Asava, Trigun, Jugalbandi, Barrel Blush) o Available in around 50 countries and 35 travel retail o Rampur Double Cask available in 19 states in India and Asava in 12 states o Rampur Asāva: World’s first whisky finished in Indian red wine casks; matured in American Bourbon Barrels and finished in Indian Cabernet Sauvignon Casks o Rampur PX Sherry: Limited 48 cask batch where American Oak were handpicked and transferred to PX Sherry Butts from Jerez, Spain Recent Awards: Rampur Double Cask • Gold Medal Winner at The Spirits Business World Whisky Masters, 2025 • World’s 50 Most Admired Whiskies by Drinks International, 2025 • Gold Medal Winner at Eurasia Spirits Drinks, 2024 • Gold Medal Winner at London Spirit Competition, 2024 • Gold Medal Winner at Barleycorn Awards, 2024 Recent Awards: Rampur Select • World’s 50 Most Admired Whiskies by Drinks International, 2025 • Top 100 Spirits of 2023 by Wine Enthusiast • Double Gold at The Fifty Best World Whisky, 2023 Recent Awards: Rampur Asava • Gold in The Fifty Best World Whisky Tasting 2025 • Gold in London Spirit Competition, 2024 • Gold Medal at Bartender’s Brand Award, 2024 • Double Gold at Barleycorn Award, 2023 and named as the Best World Whisky Recent Awards: Rampur Barrel Blush • Gold in The Fifty Best World Whisky Tasting 2025 • Gold Winner at Barleycorn Fall Awards, 2024 • Double Gold Winner at The Fifty Best World Whisky, 2024
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Investor Presentation | February 2026 36 Jaisalmer Indian Craft Gin The Royalty Awaits o A triple-distilled neutral grain spirit, it is re-distilled in a traditional copper pot still, with its recipe handcrafted in a time-honoured way. o Derived from the ancient Indian knowledge of herbs, retaining the classic gin flavour of juniper berries, a refreshing twist has been added with hand- picked Indian botanicals. Of the 11 botanicals used in the distillation, 7 have been sourced from all four corners of India. o Available in around 40 countries and 30+ travel retail; 22 states in India and 50% market share of the luxury gin market o Jaisalmer Gold has 18 botanicals including saffron; Now available in 7 states Recent Awards o Gold Medal Winner at The London Spirits Competition, 2025 o Double Gold Medal Winner at The Fifty Best Gin, 2025 o Grand Gold at the Monde Selection for the 6th consecutive year in 2025, and International High-Quality Trophy o Gold in London Spirit Competition, 2024 o Gold Medal Winner at The Fifty Best Gin, 2024 o Double Gold Medal Winner at the Barleycorn Awards, 2024 o Gold Medal Winner at Eurasia Spirits Drinks, 2024 o Gold at the San Francisco Award, 2023 o Double Gold at the Barleycorn Awards, 2023 A yellow text on a white background Description automatically generated
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Investor Presentation | February 2026
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Investor Presentation | February 2026 40 Royal Ranthambore Heritage Collection-Royal Crafted Whisky • Blended Malt Scotch & Scotch Grain from Malted Barley: Crafted from different bespoke Blended Malt Scotch from various regions of Scotland. Scotch grain is also blended to harmonize the Whisky. Though by definition it’s a Scotch Grain, however this Scotch Grain is made from 100% Malted Barley • Oak Infused Grain Neutral Spirit: We take pride to introduce a unique oak infusion process for the very first time in India to the Grain Neutral Spirit, which literally transform the fresh and dry grain neutral spirit to a subtle and mild oak tonality • A Beautiful Whisky Making Craft called Blending: A complex whisky, i.e., six Blended Malt Scotches, one Scotch Grain from Malted Barley and Oak Infused Grain Neutral Spirit, reserved for a specific time to assimilate the blend India’s finest blend… A yellow text on a white background Description automatically generated
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Investor Presentation | February 2026 41 Royal Ranthambore Heritage Collection-Royal Crafted Whisky Tasting Notes: Visual/Colour: Golden hue complemented by tint of amber Nose/Aroma: Warm and intense malty aromas make their presence felt followed by sweet floral notes and hints of citrus. At the end subtle forest honey and spicy dried fruits leaves a lasting trail Palate/Taste: Once you allow a sip to linger in the palate it reveals many delicate attributes and holding it long in the mouth, the warmth of the palate entices out a flurry of rich flavours like English muffins, melted butter, plum cake, apple pie, cocoa and a hints of spicy peaty smoke in the background Finish: A long finish that smoothens out with time
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Ⓒ HAKUHODO Inc, All Rights Reserved. | CONFIDENTIAL 43 Morpheus Rare Luxury Whisky Addressing portfolio gap targeted at the fast-growing super-premium whisky segment Blend Fruity floral elegance - Aged in Bourbon barrels, this masterful blend of imported Scotch Malts and Indian grain spirits invokes signature fruity attributes. Color Amber gold. Nose Enchanting and expressive bouquet of sweet and ripe orchard fruits complemented by delicate honey, vanilla, and hint of citrus zest. Beneath the fruity elegance a whisper of floral tonality adds magic and provide freshness. Palate On the palate the whisky unfolds a symphony of sweet, fruity, floral and spicey tonality together. The texture reveals a soft, smooth yet rich elegance. Gentle warmth of spices adds another dimension to the whole experience. Finish Finish that invites another sip.
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Investor Presentation | February 2026 44 Magic Moments Dazzle Vodka Razzle with the Magic of Dazzle Gold Silver • Filters: Carbon, Silver, Platinum and Gold • Filters: Carbon, Silver and Platinum • A delightful blend infused with crispy textures and a hint of peppery notes • Giving an ultra smooth, fresh, and luxurious taste in every sip • An exquisite blend of rich, creamy vanilla mixed with the complex notes of floral, butterscotch, and a hint of white chocolate • Giving it a well-balanced flavor of sweetness and sophistication • The tall, white glossy bottle lends elegance and richness to the product with the metallic dancing figurines • It’s recognizable brand mascot – the dancing figurines • The two-color tone of the canister accentuates the sophistication and modishness this product reflects • The unique metallic cap of Dazzle has a tamper-evident ring The 7 stage filtration process Single Grain Rice Vodka A yellow text on a white background Description automatically generated
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Investor Presentation | February 2026 45 Magic Moments Verve Vodka The Smooth Blend of Sophistication o Verve super-premium vodka is refined through a slow five-stage filtration process, using silver and platinum filters that ensure purity till the last drop. A high-end blend produced by India’s biggest vodka brand, this Magic Moments casts a spell of Verve. o Discover the finest of what one can experience when a perfect medley of superior grains and a distinct distillation process come together to create a smooth test, and a blend of its flavour so exquisite that the taste lingers on. From zesty orange and crispy green apple to luscious cranberry and citrusy lemon, Verve lends a flavour of smoothness till the last drop. Recent Awards o Won Gold for 7th consecutive year at the Global Monde Selection Awards in 2025 o Verve Lemon Lush won Gold for the three consecutive years at the Monde Selection, 2021, 2022 and 2023, and International High-Quality Trophy A yellow text on a white background Description automatically generated
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Investor Presentation | February 2026 47 Magic Moments Vodka Make Every Moment a Magic Moment o Launched in 2006, Magic Moments is India’s largest premium vodka brand with around 60% market share (~90% in the relevant segment). o The magic of every party begins here. Magic Moments Vodka undergoes a triple distillation process for purity and a refined taste, reflecting the best of spirits. The flavour category is what makes Magic Moments Remix more significant and alluring to individuals with its flavor offerings - Orange, Green Apple, Lemon, Lemongrass and Ginger, Raspberry, Chocolate, Grapefruit and Watermelon, and Cucumber and Wild Green Lemon. o Magic Moments brings life to every party and brings magic in every moment. Recent Awards o Magic Moments Premium Grain Vodka won Gold award for the 5th consecutive year at the Monde Selection 2025 A yellow text on a white background Description automatically generated
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Investor Presentation | February 2026 48 Morpheus Super Premium Brandy Dare to Dream Morpheus Blue XO Brandy o It takes one sip of Morpheus Blue to understand that not all brandies are created equal. Crafted by our master blenders, Morpheus Blue is perfection in a bottle, created for the most deserving of dreamers. o Launched recently, this is an aged brandy and leads the super-premium brandy segment. Named after the Greek God of Dreams, it provides an exotic experience to the premium brandy lovers. Its goblet packaging and brand positioning have helped create a niche as a spirit that is intense and sophisticated. Recent Awards o Monde Selection Grand Gold Award for the 3rd consecutive year in 2025 Morpheus XO Brandy o With around 60% market share, Morpheus is India’s largest selling premium brandy. o Morpheus is unlike any other. Its fruity and floral top notes combine with sweet and heavy bodied traces of matured wood, vanilla and raisin, to leave you with a truly exquisite aftertaste. Containing the texture of warm soils, fragrant scents and all the richness of tropical weather, its rich blend is truly irresistible. Recent Awards o Nine times winner of the Monde Selection Gold Award (2011, 2015, 2016, 2017, 2018, 2021, 2022, 2023 and 2025) A yellow text on a white background Description automatically generated
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8PM Premium Black: Bold New Look
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Investor Presentation | February 2026 50 International Key Account Presence Dubai USA UK Singapore Above list is illustrative and not exhaustive A yellow text on a white background Description automatically generated
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Investor Presentation | February 2026 51 Global Travel Retail Bangalore Duty Free Dubai Duty Free Dubai Duty Free Mumbai Duty Free - Arrival
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Investor Presentation | February 2026 52 Global Travel Retail Mumbai Duty Free - Departure TFWA, Singapore
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Investor Presentation | February 2026 53 Global Travel Retail Sharjah Duty Free Bahrain Duty Free
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Investor Presentation | February 2026 54 Global Travel Retail Underground Metro, London Airport Duty Free Departures, New Delhi The Whisky Show, London Rampur Barell Blush Activation at Amathus, London
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Investor Presentation | February 2026 55 Recent Performance Revenue Break up (` Crore) IMFL (A) 1,139.7 893.1 27.6% 1,047.5 8.8% 3,256.8 2,402.6 35.6% Prestige & Above 838.3 647.9 29.4% 718.4 16.7% 2,270.0 1,725.5 31.6% Regular & Others 295.2 229.4 28.7% 322.8 (8.6)% 967.9 642.3 50.7% Others 6.2 15.8 6.2 19.0 34.8 Non IMFL (B) 407.0 401.1 1.5% 446.5 (8.8)% 1,289.9 1,144.5 12.7% Revenue from Operations (Net) (A+B) 1,546.7 1,294.2 19.5% 1,493.9 3.5% 4,546.7 3,547.0 28.2% Prestige & Above as % of Total IMFL Revenue 73.6% 72.5% 68.6% 69.7% 71.8% IMFL as % of Total Revenue from Operations 73.7% 69.0% 70.1% 71.6% 67.7% Q3 y-o-y Q2 q-o-q Nine Month y-o-y FY2026 FY2025 Growth (%) FY2026 Growth (%) FY2026 FY2025 Growth (%) Operational Performance (Million Cases) Prestige & Above 4.62 3.67 25.9% 3.89 18.7% 12.35 9.59 28.7% Regular & Others 4.70 3.54 32.7% 5.04 (6.8)% 15.16 9.91 53.0% Total Own Volume 9.32 7.21 29.3% 8.93 4.3% 27.51 19.50 41.1% Prestige & Above as % of Total Own Volume 49.6% 50.9% 43.6% 44.9% 49.2% Royalty Brands 0.43 1.15 0.42 1.31 2.70 Total Volume 9.75 8.36 16.7% 9.34 4.3% 28.82 22.21 29.8% Above financials are on Standalone basis
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Investor Presentation | February 2026 56 Recent Performance Above financials are on Standalone basis * Including an exceptional charge of ` 9.56 Cr on account of the change due to the New Labour Code Q3 y-o-y Q2 q-o-q Nine Month y-o-y Financial Performance (` Crore) FY2026 FY2025 Growth (%) FY2026 Growth (%) FY2026 FY2025 Growth (%) Revenue from Operations (Gross) 5,423.8 4,440.9 22.1% 5,056.7 7.3% 15,794.1 12,613.1 25.2% Revenue from Operations (Net) 1,546.7 1,294.2 19.5% 1,493.9 3.5% 4,546.7 3,547.1 28.2% Gross Profit 719.4 556.8 29.2% 652.0 10.3% 2,019.0 1,510.4 33.7% Gross Margin (%) 46.5% 43.0% 43.6% 44.4% 42.6% EBITDA 265.4 183.2 44.9% 236.1 12.4% 732.2 493.8 48.3% EBITDA Margin (%) 17.2% 14.2% 15.8% 16.1% 13.9% Profit Before Tax 206.6 129.9 59.0% 186.3 10.9% 570.6 343.1 66.3% Total Comprehensive Income* 153.7 95.4 61.1% 137.8 11.5% 423.8 252.8 67.6% Total Comprehensive Income Margin (%) 9.9% 7.4% 9.2% 9.3% 7.1% Basic EPS (`) 11.59 7.18 61.5% 10.38 11.7% 31.93 19.03 67.8%
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Investor Presentation | February 2026 This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Radico Khaitan’s future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Radico Khaitan undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances. For further information, please contact: Saket Somani Senior Vice President, Finance & Strategy somanis@radico.co.in +91 11 4097 5403 (D) | +91 9731 96 6789 (M) Disclaimer
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Radico Khaitan Limited (CIN: L26941UP1983PLC027278) J-I, Block B-I, Mohan Co-operative Industrial Area, Mathura Road, New Delhi-110044 Ph.: +91-11-4097 5400/5500 Fax: +91-11-4167 8841/42 www.radicokhaitan.com