News: Radico announced its Q1FY23 results. While net revenues de-grew 7% QoQ to Rs 757 crore (6% decline in IMFL volumes due to likely seasonality factor), EBITDA grew 16% to Rs 93 crore (margins expanded 240 bps QoQ to 12.2%). Subsequently, PAT grew 24% QoQ to Rs 62 crore.
View: To mitigate the inflationary pressure, Radico has rationalised portfolio and taken steps such as valour engineering of supply chain. The company net debt is at Rs 163 crore (increased by Rs 47 crore due to capex of new projects).
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