RADICO

By Praveen Paramasivam

Jan 23 (Reuters) - Indian liquor company Radico Khaitan RADC.NS expects fiscal 2027 revenue growth to be largely above analysts' estimates, banking on sustained demand for its higher-priced spirits, a top executive said.

The maker of Jaisalmer and Rampur brands expects net revenue to rise 13%–15% in fiscal 2027, the company told Reuters.

Analysts, on average, were projecting a 13.7% rise in revenue, according to estimates compiled by LSEG.

Radico Khaitan reported a 62% jump in third-quarter profit on Thursday.

Managing Director Abhishek Khaitan said on Thursday he expects sales volume in the company's "prestige and above" business, which makes up roughly half of its total revenue, to climb over 15%.

The company expects its more affordable "regular and others" range to grow in the mid-single digit percentage range in fiscal 2027.

India's consumer demand remains split, with affluent buyers continuing to spend despite broader pressure, supporting sales at premium-focused companies such as liquor makers and jewellers.

Demand for premium liquor is outpacing cheaper brands as younger consumers shift toward higher-end drinks even while drinking less often than older generations, the managing director added.

"People want to spend on good things in life (post‑COVID)," Abhishek Khaitan said on Thursday.

The company is looking to diversify export markets as U.S. tariffs weigh on Indian shipments. Exports make up about a tenth of revenue in its core Indian-made foreign liquor business, which sells to more than 100 countries.

It built inventory in the United States ahead of the tariff rollout and has enough stock to cover the current quarter.

"We are obviously focusing more on (other) markets in case the tariffs don't go down in the United States," Sanjeev Banga, president of the company's international business, said.

($1 = 91.6100 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Nivedita Bhattacharjee)

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** Shares of Radico Khaitan RADC.NS up 5.3% at 2,984 rupees; on course to rise most in a session since February 20, 2025

** The company, home to Rampur, Jaisalmer and Magic Moments brands, posted a 62% rise in Dec-qtr profit to 1.55 billion rupees ($16.9 million)

** Rev from ops rose 22% to 54.24 billion rupees, led by a 26% volume growth in its "prestige and above" segment

** More than 807,000 shares traded, 2.2x their 30-day moving avg

** Analysts' avg rating is "buy" and median PT is 3,575 rupees, ~20% higher than current level - data compiled by LSEG

** RADC rose 26.6% in 2025

($1 = 91.6520 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

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Sept 24 (Reuters) - Piccadily Agro Industries Ltd PICA.NS:

• FILES SUIT AGAINST RADICO KHAITAN FOR TRADEMARK INFRINGEMENT

• RADICO KHAITAN RESTRAINED BY COURT FROM USING 'KASHMYR' MARK

Source text: ID:nBSE1XLYRZ

Further company coverage: PICA.NS

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By Chandini Monnappa and Hritam Mukherjee

Aug 12 (Reuters) - Radico Khaitan RADC.NS, the maker of "Magic Moments" vodka, will invest up to $4.56 million and team up with Bollywood actor Shah Rukh Khan and Zerodha co-founder Nikhil Kamath to launch a premium tequila brand, marking its foray into the category.

The Indian liquor maker, known for premium offerings such as Rampur Indian Single Malt and Jaisalmer Indian Craft Gin, will roll out the brand D'YAVOL Añejo — a premium spirit made from agave and aged about two years in wine casks.

D'YAVOL, a luxury brand founded in 2022 by Shah Rukh Khan's son Aryan Khan, along with Leti Blagoeva and Bunty Singh, is headquartered in Amsterdam and offers vodka, blended malt Scotch whisky and premium streetwear.

D'YAVOL Añejo is set to launch by December and depending on state excise duty, will be priced between 20,000 rupees ($228.21) and 30,000 rupees, Radico Khaitan Managing Director Abhishek Khaitan told Reuters on Tuesday.

The launch comes as affluent Indians increasingly splurge on everything from luxury dining to premium alcohol, housing and cars. Alcohol sales in the country, according to data from analytics firm Crisil, are projected to grow as much as 10% to $61.35 billion in fiscal 2026.

Tequila is one of the fastest growing segments globally and India is catching on very fast. The market size in the country is about 300,000 cases, out of which 15% is the Añejo (Spanish word meaning 'aged') category, Khaitan said.

"We believe that in the next five years, tequila can reach a volume of about a million cases in India plus global market, so I think it was a great opportunity," he said.

Under the partnership, Radico Khaitan and Shah Rukh Khan's family will each hold a 47.5% stake in the venture, while Kamath will own 5%.

The deal also underscores the fierce competition in mass and premium liquor segments. Just three weeks ago, peer Tilaknagar Industries TILK.NS bought the "Imperial Blue" whisky brand from Pernod Ricard PERP.PA for $486 million.

($1 = 87.6370 Indian rupees)

(Reporting by Chandini Monnappa and Hritam Mukherjee in Bengaluru; Editing by Shilpi Majumdar)

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Feb 20 (Reuters) - Radico Khaitan Ltd RADC.NS:

• TO INTRODUCE ROYAL RANTHAMBORE WHISKY IN CANTEEN STORES DEPARTMENT

• AIMS FOR 10% MARKET SHARE IN CSD SCOTCH WHISKY SEGMENT OVER THE NEXT YEAR

Source text: ID:nBSE6YzN0j

Further company coverage: RADC.NS

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Jan 29 (Reuters) - Radico Khaitan Ltd RADC.NS:

• RADICO KHAITAN DEC-QUARTER CONSOL NET PROFIT 954.9 MILLION RUPEES

• RADICO KHAITAN DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 44.41 BILLION RUPEES

Source text: [ID:]

Further company coverage: RADC.NS

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By Aditya Kalra

NEW DELHI, Jan 6 (Reuters) - Indian antitrust investigators raided Pernod Ricard's office in December after finding the French liquor giant colluded with a state's retailers to promote its whisky brand and ignore a rival's, according to a government document seen by Reuters.

In the biggest liquor sector crackdown in recent years, Pernod's office in southern Telangana state was raided in December by Competition Commission of India (CCI) officers. The case was triggered by a 2022 complaint by Indian rival Radico Khaitan RADC.NS, which accused Pernod of colluding with retailers not to stock a Radico whisky brand.

The investigation and the raids are the latest regulatory and legal challenge for Pernod in India, its biggest market globally by volume. Pernod is contesting a $250 million India tax demand for allegedly undervaluing imports and also faces an investigation into violations of New Delhi city's liquor policy.

In the latest CCI complaint, Radico in its submissions had relied on an undated and unsigned business agreement that promised some retailers "special discounts" if they did not sell Radico's brand, but the investigators have found Pernod was behind the arrangement, the government document shows.

Ahead of the December raid, CCI's investigation unit found the alleged anti-competitive agreement was "facilitated and coordinated" by Pernod India, according to the document detailing initial findings of the investigation unit.

Pernod further made incentive payments to retailers to promote its brand through an agent, a local marketing agency in Hyderabad city, the document added.

"Incentive to retail licensees were being paid by Pernod ... through its agent," said the document, contents of which Reuters is the first to report.

Pernod PERP.PA, maker of brands such as Chivas Regal, did not respond to Reuters queries. After the December raids, it told Reuters it complied with Indian laws and was cooperating with the authorities.

The CCI did not respond on Monday, and as per its policy, keeps details of raids and investigations of collusion cases confidential. The ongoing investigation may take several months to complete and Pernod can challenge its findings.

In a separate New Delhi city, federal investigators accused Pernod of similar practices, accusing it of offering financial support to New city retailers in exchange for ensuring 35% of stock in their shops is Pernod's. The company has repeatedly denied any wrongdoing.

In the Telangana CCI case, it is alleged Pernod asked some retailers to achieve a 70% market share for its brand, earning discounts and royalties for doing so.

The December raids were aimed at collecting evidence, such as meeting records or copies of agreements, that may help the CCI investigation unit develop its case, according to the government document.

If found guilty, Pernod Ricard India may be liable to a penalty amounting to up to three times its profit for each year during which the collusion took place, or 10% of its turnover for each year of wrongdoing, whichever is higher.

Pernod's 2023-24 India sales were $3.1 billion.

(Reporting by Aditya Kalra
Editing by Bernadette Baum)

((Email: [email protected]; X: @adityakalra;))

By Aditya Kalra

NEW DELHI, Dec 19 (Reuters) - India's antitrust body has raided offices of alcohol giants Pernod Ricard PERP.PA and Anheuser-Busch InBev ABI.BR as it investigates allegations of price collusion with retailers in a southern state, sources familiar with the matter said.

Wednesday's surprise raids by the Competition Commission of India (CCI) targeted the offices in the city of Hyderabad, and some retailers in nearby Telangana state, the five sources said, for one of the biggest such recent crackdowns in the industry.

The sources spoke on condition of anonymity as they were not authorised to speak to the media.

Pernod, maker of brands like Chivas Regal, did not immediately respond to a request for comment.

In a statement, InBev, which makes Budweiser, said, "While we cannot comment on the specifics, we take antitrust compliance very seriously. We are working together in collaboration with the authorities".

The CCI did not immediately respond to a request for comment on the matter.

(Reporting by Aditya Kalra; Additional reporting by Aditi Shah; Editing by Clarence Fernandez)

((Email: [email protected]; X: @adityakalra;))

** Shares of Radico Khaitan RADC.NS rises nearly 10% to a record high of 2,524 rupees in early trade

** Stock trims some gains to last trade 5% higher

** Stock top gainer on the Nifty FMCG index .NIFTYFMCG, which is up 1.6%

** "Magic Moments" vodka-maker posts 24% rise in second-quarter profit on increasing demand for its premium alcohol

** RADC marks busiest week in 5 weeks, with over 2 mln shares traded

** Analysts' avg rating on stock is "strong buy" vs "buy" on peer United Spirits UNSP.NS

** Their median PT on RADC is 2,000 rupees - LSEG

** Stock up 47% YTD vs 4% rise in Nifty FMCG index

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Oct 24 (Reuters) - Radico Khaitan Ltd RADC.NS:

• RADICO KHAITAN Q2 CONSOL NET PROFIT 806.6 MILLION RUPEES

• RADICO KHAITAN Q2 CONSOL REVENUE FROM OPERATIONS 39.07 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: RADC.NS

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** Shares of Radico Khaitan RADC.NS, an alcohol and alcoholic products maker, rise as much as 8.7% to record high of 1,975.8 rupees

** Stock top gainer on Nifty FMCG index .NIFTYFMCG, which is down 0.09%

** Reuters could not immediately ascertain the reason for the move

** More than 2.3 mln shares change hands, 10.2 x its 30-day avg

** Eight analysts covering the stock have a "buy" rating on avg; median PT 1,996 rupees - LSEG data

** Stock up 17% so far this year vs a 11% gain in FMCG index

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Radico Khaitan RADC.NS rise 2.9% to 1,718 rupees

** Stock top gainer on Nifty FMCG index .NIFTYFMCG, which is up 0.14%

** The 'Magic Moments' vodka maker reported a 13% surge in Q1 consol net profit on strong demand for premium alcohol

** Co saw 14.3% Y/Y volume growth in its prestige and above category

** Analysts covering RADC has "Buy" rating on stock, same as rival United Spirits UNSP.NS, while United Breweries UBBW.NS rated "Hold"

** Median PT for RADC is 1,917.5 rupees - LSEG data

** Stock up 8% so far this year vs a ~10% gain in Nifty FMCG index

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of United Spirits UNSP.NS up 5.7% to a record high of 1,407.5 rupees; top percentage gainer on Nifty FMCG index .NIFTYFMCG, which is down 0.5%

** Co reported Q1 profit above estimates on Tuesday, helped by strong demand for its premium alcohol brands

** UNSP eyes busiest trading session since late-May, with over 4.3 mln shares traded

** Analysts' avg rating on stock is "Hold", in-line with United Breweries UBBW.NS, while Radico Khaitan RADC.NS is rated "Buy" - LSEG data

** Including session's gains, UNSP is up ~26% YTD vs ~14% rise in UBBW and 4% jump in RADC

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

July 18 (Reuters) - Radico Khaitan Ltd RADC.NS:

• RADICO KHAITAN - MAGIC MOMENTS MUSIC STUDIO COLLABORATES WITH SAREGAMA

Source text for Eikon: ID:nBSE3j9C0S

Further company coverage: RADC.NS

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Adds fresh analyst comments; updates shares

By Kashish Tandon

BENGALURU, July 2 (Reuters) - Shares of Allied Blenders and Distillers ALLE.NS rose nearly 13% in debut trade on Tuesday, in line with analysts' expectations for the Indian whisky manufacturer, which makes the 'Officer's Choice' and 'Sterling Reserve' brands of whiskies.

The stock listed at 320 rupees on the National Stock Exchange, a 14% premium to its offer price of 281 rupees, before surrendering some gains. The benchmark Nifty 50 .NSEI was flat.

India's $33 billion spirits market is crowded, currently dominated by Diageo-owned United Spirits and France's Pernod Ricard PERP.PA, which makes the popular 'Chivas Regal' whisky.

Allied Blenders' listing valued the company at 77.38 billion rupees (nearly $927 million). United Spirits, which makes the 'Johnnie Walker' brand of whisky, is the larger rival, valued at $11 billion.

Even if the shares listed at a premium, the valuations will not sustain as the stock is highly overvalued, analysts said.

Allied's price-to-earnings ratio of 4,014 is way ahead of its larger peers United Spirits UNSP.NS and Radico Khaitan RADC.NS with P/E ratios at 73 and 96, respectively.

The premium listing is because there is liquidity in the market and investors are looking for new stock ideas, said Karan Taurani of Elara Capital.

The company's initial public offering, at 23 times the shares on offer, was also significantly lower than recent IPOs in June which were oversubscribed by around a hundred times.

The absence of big names as part of anchor investors in the offering and stretched valuations were among the reasons for a subdued response to the IPO, said Kranthi Bathini, director of equity strategy at Wealthmills.

($1 = 83.5075 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Janane Venkatraman )

(([email protected]; 8800437922;))

By Kashish Tandon

BENGALURU, June 27 (Reuters) - Indian whisky maker Allied Blenders and Distillers' ALLE.NS $180-million IPO was oversubscribed on Thursday but fell short of the blowout demand for recent issues amid concerns about its growth prospects in an increasingly competitive liquor market.

The IPO, the first by an alcohol company since Sula Vineyards' SULA.NS in 2022, received bids for 924.9 million shares, worth up to $3.12 billion and about 23 times the 39.4 million shares on offer, exchange data showed.

In contrast, all the four previous IPOs on the main exchange this month, including engineering firm DEE Development Engineers DEEV.NS, were oversubscribed by around hundred times.

Most of the bids came in the final hours of bidding on Thursday, with institutional buyers bidding for 50 times the shares allotted, while retail investors bid for about four times the allotment.

Allied Blenders, which sells 'Officer's Choice' and 'Sterling Reserve' whisky, is going public in a booming Indian IPO market.

A total of 129 companies have raised $4.32 billion in IPOs so far this year, more than double the amount raised by this time last year, per LSEG data, with the domestic equity market at an all-time high on the prospect of healthy economic growth.

Allied Blenders faces stiff competition in India's $33 billion spirits market, including from Radico Khaitan's RADC.NS 'Rampur Whisky' and Diageo-owned United Spirits' UNSP.NS 'Johnnie Walker' and 'Black Dog'.

The company's share of the premium portfolio is relatively lower than its peers, meaning its growth rates may not be that strong, said Karan Taurani, an analyst at Elara Capital.

Taurani does not expect the stock to rise much when it makes its market debut.

Allied Blenders ranked third in terms of whisky sales in India in fiscal 2023, according to its prospectus, trailing United Spirits and 'Chivas Regal'-maker Pernod Ricard PERP.PA.

Its core profit (EBITDA) margin is also less peers', Taurani noted.

Anchor investors, including domestic mutual funds, had already subscribed to shares worth 4.5 billion rupees.

The offer included a fresh issue worth 10 billion rupees, while co-chairperson Bina Chhabria and vice chairperson Resham Chhabria Hemdev were seeking to up to 5 billion rupees in stock.

($1 = 83.5850 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)

(([email protected]; 8800437922;))

** India's blue-chips NSE Nifty 50 .NSEI and S&P BSE Sensex .BSESN reverse early losses to trade 0.2%-0.25% higher

** 27 stocks in the 50-member NSEI trading in the green at midday

** Top NSEI pct boost Sun Pharma SUN.NS up 2%, after it said its drug showed significant weight loss efficacy

** Six out of the thirteen major sub-indexes trade higher on the day

** Consumer stocks .NIFTYFMCG rise 0.8%, Radico Khaitan RADC.NS up 2.4%, extending gains from last week amid concerns of a plant being impounded at rival Som Distilleries SDB.NS

** More domestically focussed small- .NIFSMCP100 and mid-caps .NIFMDCP100 reverse courses, last up 0.1% and 0.3% respectively

** Small- and mid-caps had shed 1% earlier in the day after weekend report market regulator investigating allegations of "front-running" at Quant Mutual Fund, an active investor in the said segments

** SEBI probe on Quant Mutual Fund is a sentiment negative for the markets, two analysts say

** Sixteen of the top 20 holdings of Quant's small-cap holdings, in terms of ownership of outstanding shares, log losses

** Quant had said on Sunday that it is responding to regulator's enquiries

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Shares of India's Som Distilleries and Breweries SDB.NS off ~1% on the day and have tumbled 10.4% so far this week

** Stock set for their worst week since late Dec 2022

** A report that Som employed child labour at a distillery sparked police probe and authority threat to impound plant

** Beer and spirits maker SDB says plant is run by associate pvt firm; adds no govt dept has taken action on the company

** Rampur single malt maker Radico Khaitan's RADC.NS nearly 5% jump this week is the most among Som's rivals

** Kingfisher beer maker United Breweries UBBW.NS has fallen 1.2% this week

** Johnnie Walker whiskey maker United Spirits UNSP.NS is little unchanged

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Updates with analyst comment, closing levels

** Som Distilleries SDB.NS closed ~2% lower on the day, taking losses to ~9% in 3 sessions

** Slide started after police started probe into Som over allegations of employing children at a distillery, which Som says is run by its "associate private limited company"

** Authorities plan to impound the distillery, suspend manufacturing license of the plant in Madhya Pradhesh state

** Som, which makes Hunter and Woodpecker beer as well as spirits, says no govt dept has taken action on the company

** Som's loss is a likely gain for United Breweries and local brands, says Elara Capital analyst Karan Taurani

** In past three days Kingfisher beer maker United Breweries' stock UBBW.NS has dropped ~1%

** Johnnie Walker whiskey maker United Spirits UNSP.NS is about flat, while fellow whiskey maker Piccadily Agro PICA.BO has shed ~3% in that period

** Biggest gainer is Radico Khaitan RADC.NS, which makes Rampur single malt and Jaisalmer gin; stock has risen ~4%

(Reporting by Nandan Mandayam and Hritam Mukherjee in Bengaluru)

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May 20 (Reuters) - Radico Khaitan Ltd RADC.NS:

• MAGIC MOMENTS VODKA SELLS 6.3 MILLION CASES IN FY2024

• MAGIC MOMENTS FAMILY ACHIEVES SALES VALUE OF 10 BILLION RUPEES

Source text for Eikon: ID:nBSEc1wHGT

Further company coverage: RADC.NS

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** Shares of Radico Khaitan RADC.NS up 2% at 1,642.65 rupees

** Magic Moments vodka maker's Q4 profit climbed 26% YoY on Tuesday

** Peer United Breweries' UBBW.NS profit surged, United Spirits UNSP.NS is yet to report

** RADC, UBBW, UNSP all rated "hold" on avg - LSEG data

** YTD, RADC down 0.8%; UBBW and UNSP up 6.5% and 4.5%, respectively

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

BENGALURU, May 14 (Reuters) - Indian liquor maker Radico Khaitan RADC.NS reported a 26% rise in fourth-quarter profit on Tuesday, driven by strong demand for its premium brands.

The Magic Moments vodka maker reported a consolidated net profit of 539.1 million rupees ($6.5 million) for the quarter ended March 31 up from 426.5 million rupees a year ago.

The popularity of premium liquor, particularly whiskey has been on the rise in India, mainly among the affluent urban population, analysts said. This has led to the expansion of whiskey distilleries and the availability of a wider variety of whiskey brands in the market.

Demand for flavoured alcoholic beverages, including vodka and rum, has also gained traction throughout the last financial year, analysts added.

Radico's premium segment, which includes brands like Rampur Indian Whiskey and After Dark, reported a 14.2% increase in sales volume, anchoring a 16.1% rise in the segment's revenue to 5.04 billion rupees.

Revenue from operations rose 15% to 38.95 billion rupees.

"We expect to continue to deliver a double-digit percentage growth in premium volume in FY2025," the company said in its investor presentation.

"Prices of certain packaging materials have softened recently, we cautiously monitor the trends of grain, extra neutral alcohol and glass bottles where volatility persists," Radico added.

The company's expenses rose 15% to 38.20 billion rupees.

Kingfisher beer maker United Breweries UBBW.NS posted a surge in quarterly profit on higher beer sales, whereas Smirnoff vodka maker United Spirits UNSP.NS is yet to report results.

Shares of the company closed down 0.4% ahead of the results.

($1 = 83.5027 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Eileen Soreng)

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** Shares of liquor maker Globus Spirits GLOS.NS up 11%, on track for steepest intraday rise since Feb. 2022

** Co commenced production of additional capacity at two existing units in the Indian states of Jharkhand and West Bengal

** Trading volumes are 4.5 times the 30-day avg

** Stock fell ~24% in March-qtr, its third straight quarterly loss

** Bigger rivals United Spirits UNSP.NS and Radico Khaitan RADC.NS gained 1.5% and 4.2%, respectively, in the same period, while United Breweries UBBW.NS lost 2.8%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** India's alcoholic beverages industry is set for margin improvement, revenue growth in FY2025, ICRA says

** Projects rev growth of 8-10% for domestic alcohol cos, 11-13% growth for Indian made foreign liquor cos on customer preference for premium products

** ICRA expects beer to witness good season in Q1 anticipating a hot summer

** Says margin growth to be driven by moderation in input costs and packaging materials such as glass bottles

** Shares of United Spirits UNSP.NS fall 1.5%, United Breweries UBBW.NS down 3.1% and Tilaknagar Industries TILK.NS down 0.4%, while those of Radico Khaitan RADC.NS rise 2.6%, G M Breweries up 0.5% and Som Distilleries SDB.NS edge 0.1% higher

(Reporting by Sethuraman NR)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** India's liquor industry, the third largest in the world, expands in second half of 2023, aided by correction in packaging cost and shift to premiumisation, says Nuvama Institutional Equities

** Adds, Radico Khaitan RADC.NS tops sales growth at 29% in H2 2023, followed by United Breweries UBBW.NS and United Spirits UNSP.NS at 13% and 10%, respectively

** Expects alcobev companies to continue investing in brands to improve long-term growth prospects

** Nuvama, however, expects marginal growth in 2024 for the industry, citing slowdown in overall consumption

** Brokerage also flags United Breweries' margins as a key metric to monitor, given the higher dependence on new glass bottles in premium segment versus peers

** Shares of UBBW, UNSP down 0.13% and 0.7% on the day, which RADC sheds 3.3%

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

BENGALURU, Feb 8 (Reuters) - India's United Breweries UBBW.NS reported a profit in the third quarter on Thursday, as improved demand helped mitigate the impact of higher costs.

The company, partly owned by Dutch brewer Heineken NV HEIN.AS, has been grappling with elevated costs due to rising raw material prices, including glass and extra neutral alcohol (ENA), a primary raw material for alcoholic beverages, which have incrementally risen each quarter.

The Kingfisher beer maker reported a standalone profit of 848.5 million rupees (nearly $10 million) for the quarter ended Dec. 31, compared with a loss of 21.4 million rupees a year earlier.

Revenue from operations rose 12.3% to 41.53 billion rupees.

However, total expenses also grew at a similar pace to 40.61 billion rupees, dragged by a 14% rise in raw material costs.

United Breweries' revenue growth has also been decelerating, dropping from 96% in June 2022, when beer sales surged during the summer months, to 14.1% in September 2023, as consumers reduced spending amid persistent inflation.

Profit has declined in the last three quarters since swinging to a loss in the December quarter of fiscal 2023.

Meanwhile, rivals Radico Khaitan RADC.NS, known for 'Magic Moments' vodka, and 'Smirnoff' vodka maker United Spirits UNSP.NS reported an increase in third-quarter profits, both benefitting from strong sales of their premium liquor brands.

($1 = 82.9620 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Dhanya Ann Thoppil)

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Feb 6 (Reuters) - Radico Khaitan Ltd RADC.NS:

• DEC-QUARTER CONSOL NET PROFIT 751.5 MILLION RUPEES VERSUS PROFIT 612.3 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 42.46 BILLION RUPEES VERSUS 31.66 BILLION RUPEES

Source text for Eikon: ID:nBSEbq70jy

Further company coverage: RADC.NS

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Corrects paragraph 5 to say "sales volume", not "sales"

BENGALURU, Jan 23 (Reuters) - India's United Spirits UNSP.NS, which makes Smirnoff vodka, reported a rise in third-quarter profit on Tuesday, buoyed by strong demand for its premium brands of alcohol.

A greater number of affluent Indians are choosing more expensive cars and consuming pricier food and liquor, unaffected by inflation.

This boosted the Diageo PLC DGE.L-owned company's profit before exceptional items and taxes by 51% to 4.59 billion rupees ($55.22 million) in the quarter ending Dec. 31 from a year earlier.

Last year, the company had made a provision of 1.48 billion rupees as an exceptional item for costs related to a revamp of its supply chain.

Sales volume in United Spirits' premium segment, which includes brands such as Johnnie Walker, Signature and Antiquity and accounts for roughly 80% of its sales volume, rose 4.6% in the quarter.

Meanwhile, inflation and increased competition curbed sales of the lesser-priced 'popular' segment, which includes McDowell's No. 1, Vat 69 and Royal Challenger brands. Sales in the segment fell nearly 23% in the quarter.

Revenue rose around 5% to 69.49 billion rupees. Revenue had fallen in each of the earlier four quarters.

The company benefited from softer input costs for glass, packing materials, and barley, reducing raw material costs by 7%.

However, expenses for extra neutral alcohol, a key ingredient, remain a millstone around liquor makers' necks, analysts have said.

Rival Radico Khaitan RADC.NS, which makes Magic Moments vodka, will report its third-quarter results next month.

($1 = 83.1250 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Mrigank Dhaniwala)

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Repeats Sunday story, no change to text

By Arpan Chaturvedi, Aditi Shah and Aditya Kalra

INDRI, India Dec 17 (Reuters) - Oak casks, once used to store bourbon and wine, are stacking up in a distillery near New Delhi, filled with ageing whisky as workers churn out almost 10,000 bottles a day of Indian single malt Indri, recently named the world's best whisky.

Sugarcane and mustard fields, not peat bogs, ring the distillery, where the two-year-old Indian brand's owner Piccadily is ramping up production and building a three-hole golf course to lure connoisseurs and tipplers in the whisky-loving nation.

As India comes into its own as a maker, not just consumer, of whisky, its single malts are reshaping the country's $33 billion spirits market.

Established global brands such as Glenlivet, made by France's Pernod Ricard PERP.PA, and Talisker by Britain's Diageo DGE.L fight for shelf space with local rivals Indri, Amrut and Radico Khaitan's RADC.NS Rampur.

Unlike many Asian countries where beer dominates alcohol sales, India is predominantly a whisky-drinking nation. Global awards, increased affluence and a mass of drinkers trying new brands while cooped up during COVID-19 have rocked India's whisky landscape, industry executives and analysts say.

Aditya Prakash Rao for years drank foreign brands but now increasingly buys Indian malts for himself and for gifts during festive seasons.

Indian whisky gives Rao a sense of national pride - and goes well with Indian food - the lawyer said. "Nothing beats Indian malts in pairing with our kind of food, which is spicy. I love it."

Indri's $421 Diwali Collector's Edition won "Best in Show" at the Whiskies of the World Awards blind tasting in San Francisco in August, beating Scottish and U.S. rivals.

In response to the drink-India trend, global brands that have focussed on single malts aged in Scotland are looking to Indian whiskies to tap the boom in one of the world's biggest whisky markets.

With Bollywood stars and Indian music, Pernod on Wednesday uncorked its first made-in-India single malt, the $48 Longitude 77, with plans to expand sales to Dubai and then the rest of the world.

"We are extremely bullish about this category. It has seen unprecedented growth," said Kartik Mohindra, Pernod India's chief marketing officer.

'CATEGORY OF THE FUTURE'

Diageo, Pernod's larger rival, last year launched its first Indian single malt, Godawan - named after a large, endangered Indian bird - that sells in five foreign markets, including the United States.

"We seem to be moving from whisky in India to Indian whisky - within India and globally," said Vikram Damodaran, Diageo's India chief innovation officer.

Pernod's Glenlivet, long India's top-selling single malt, grew 39% by volume last year but was dethroned by Amrut, which spiked 183%, Euromonitor data shows.

Indian single malts soared 144% in 2021-22, beating the 32% growth in Scotch, data from IWSR Drinks Market Analysis shows. For the period until 2027, it predicts, consumption of Indian malts is set to grow 13% a year compared to Scotch at 8%.

Indri maker Piccadily Distilleries hopes to expand capacity by 66% to 20,000 litres (5,300 gallons) a day by 2025, reaching beyond the 18 foreign markets that make up 30% of its sales, said founder Siddhartha Sharma.

It plans to double the number of casks to 100,000 at the sprawling distillery in a farm belt 160 km (100 miles) north of India's capital.

The local brands are not cheap: Indri starts at $37 a bottle, Amrut $42 and Rampur $66 in shops near New Delhi. In comparison, Pernod's Glenlivet retails from $40 to $118, depending on age.

At the Longitude 77 launch, Pernod served CEOs, diplomats, celebrity chefs and other invited guests the new single malt and cocktails made with it, combined with local ingredients like Kashmiri saffron and Alphonso mangoes.

Radico expects Rampur sales to double each year and will focus more on expanding the domestic market, as foreign sales contribute 75% of its business, said Sanjeev Banga, president of international business.

The biggest endorsement of the category, he said, "is that you have both Diageo and Pernod coming up with an Indian single malt."

"Otherwise, they were only talking about their mainstream foreign brands," Banga said. "They realise this is a category of the future."

(Reporting by Arpan Chatruvedi and Aditi Shah in Indri, Haryana and Aditya Kalra in New Delhi; Editing by William Mallard)

(([email protected]; @adityakalra;))

Corrects to 'the' not 'a' in paragraph 8, removes extraneous 'last year' in paragraph 14

By Arpan Chaturvedi, Aditi Shah and Aditya Kalra

INDRI, India Dec 17 (Reuters) - Oak casks, once used to store bourbon and wine, are stacking up in a distillery near New Delhi, filled with ageing whisky as workers churn out almost 10,000 bottles a day of Indian single malt Indri, recently named the world's best whisky.

Sugarcane and mustard fields, not peat bogs, ring the distillery, where the two-year-old Indian brand's owner Piccadily is ramping up production and building a three-hole golf course to lure connoisseurs and tipplers in the whisky-loving nation.

As India comes into its own as a maker, not just consumer, of whisky, its single malts are reshaping the country's $33 billion spirits market.

Established global brands such as Glenlivet, made by France's Pernod Ricard PERP.PA, and Talisker by Britain's Diageo DGE.L fight for shelf space with local rivals Indri, Amrut and Radico Khaitan's RADC.NS Rampur.

Unlike many Asian countries where beer dominates alcohol sales, India is predominantly a whisky-drinking nation. Global awards, increased affluence and a mass of drinkers trying new brands while cooped up during COVID-19 have rocked India's whisky landscape, industry executives and analysts say.

Aditya Prakash Rao for years drank foreign brands but now increasingly buys Indian malts for himself and for gifts during festive seasons.

Indian whisky gives Rao a sense of national pride - and goes well with Indian food - the lawyer said. "Nothing beats Indian malts in pairing with our kind of food, which is spicy. I love it."

Indri's $421 Diwali Collector's Edition won "Best in Show" at the Whiskies of the World Awards blind tasting in San Francisco in August, beating Scottish and U.S. rivals.

In response to the drink-India trend, global brands that have focussed on single malts aged in Scotland are looking to Indian whiskies to tap the boom in one of the world's biggest whisky markets.

With Bollywood stars and Indian music, Pernod on Wednesday uncorked its first made-in-India single malt, the $48 Longitude 77, with plans to expand sales to Dubai and then the rest of the world.

"We are extremely bullish about this category. It has seen unprecedented growth," said Kartik Mohindra, Pernod India's chief marketing officer.

'CATEGORY OF THE FUTURE'

Diageo, Pernod's larger rival, last year launched its first Indian single malt, Godawan - named after a large, endangered Indian bird - that sells in five foreign markets, including the United States.

"We seem to be moving from whisky in India to Indian whisky - within India and globally," said Vikram Damodaran, Diageo's India chief innovation officer.

Pernod's Glenlivet, long India's top-selling single malt, grew 39% by volume last year but was dethroned by Amrut, which spiked 183%, Euromonitor data shows.

Indian single malts soared 144% in 2021-22, beating the 32% growth in Scotch, data from IWSR Drinks Market Analysis shows. For the period until 2027, it predicts, consumption of Indian malts is set to grow 13% a year compared to Scotch at 8%.

Indri maker Piccadily Distilleries hopes to expand capacity by 66% to 20,000 litres (5,300 gallons) a day by 2025, reaching beyond the 18 foreign markets that make up 30% of its sales, said founder Siddhartha Sharma.

It plans to double the number of casks to 100,000 at the sprawling distillery in a farm belt 160 km (100 miles) north of India's capital.

The local brands are not cheap: Indri starts at $37 a bottle, Amrut $42 and Rampur $66 in shops near New Delhi. In comparison, Pernod's Glenlivet retails from $40 to $118, depending on age.

At the Longitude 77 launch, Pernod served CEOs, diplomats, celebrity chefs and other invited guests the new single malt and cocktails made with it, combined with local ingredients like Kashmiri saffron and Alphonso mangoes.

Radico expects Rampur sales to double each year and will focus more on expanding the domestic market, as foreign sales contribute 75% of its business, said Sanjeev Banga, president of international business.

The biggest endorsement of the category, he said, "is that you have both Diageo and Pernod coming up with an Indian single malt."

"Otherwise, they were only talking about their mainstream foreign brands," Banga said. "They realise this is a category of the future."

(Reporting by Arpan Chatruvedi and Aditi Shah in Indri, Haryana and Aditya Kalra in New Delhi; Editing by William Mallard)

(([email protected]; @adityakalra;))