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Radico Khaitan has announced that its millionaire and top-selling brand Magic Moments has achieved a milestone

ICICIdirect Research 06 Jul 2026 DISCLAIMER

News: Radico Khaitan has announced that its millionaire and top-selling brand “Magic Moments” has achieved a milestone of 3.25mn cases volume in Q1FY27. The brand has witnessed 43% YoY growth and continues its strong growth momentum. The company attributed the growth towards the launch of the new flavoured vodka which attributed ~65% of the volumes in FY26. The management has also attributed the growth to shifting consumer preferences with younger legal drinking age customers, evolving social occasions and growing cocktail culture and rising popularity of flavoured vodka culture.

View: This is positive for Radico Khaitan as Magic Moments remains the top volume contributor to the company’s P&A segment. It contributes ~50% to the P&A volumes of the company. With a quarterly volume of 3.25mn cases, its annual run rate is expected to cross 10mn cases (FY24/FY25/FY26 volumes stood at 6.3mn/7mn/8.6mn respectively). Magic Moments witnessed 21% YoY growth in volumes in FY26 recording 8.6mn cases and has consistently delivered double-digit growth over the past 2 years (FY24/FY25/FY26 volumes grew at ~26%/~17%/~21% respectively).  The management in the recent earnings call highlighted that they will continue to launch new flavours in the brand leveraging the strong domestic flavour led growth. Overall, the focus of the company continues to be to scale its P&A segment and improve the volume contribution to >50% in the portfolio. As of FY26, contribution of P&A segment to overall volumes stood at 45.6%.

Impact: Positive

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