#1M2 ELECTR 49 ADENT ORANGE WAY TO CHE Radic Radie CONTESS 8 PM GRAIN 8 PM PREMIUM 20 Master's 1965 CROWN Whisky ed Mat D P 1965 SPIRIT OF VICTORY PLUTON BAY BLENDED MAGIC MOMENTS EC PLUTON BAY RARE EXOTIC RUM. 42.8% Radic 2 Bermude CONTESSA Admad DARK MAGIC MOMENTS AL NS NERATION KY MAGIC MOMENTS MORPHEU MORPHEUS XO BLENDED PREMIUM BRANDY 750 8 PM XXX MAGIC MOMENTS MAGIC MOMENTS MAGIC MENTS GRAIN VODKA AFTER DARK Fin Whisky MAGIC OMENTS R Radico RADICO KHAITAN LTD. JAISALMER ELECTR JAISALMER 80 INDIAN CRAFT GIN MOJITO Che Cingly Claude RAMPUR Tex INDIAN SINGLE MALT WHISKY NON-CHILL FILTERE SELECT CAR h MARS ELECTRA 8.0 COSMOPOLITAN Radico Khaitan Ltd. (BSE: 532497; NSE: RADICO) Investor Presentation November 2020#2W Agenda 1. 2. 3. 4. 5. Industry dynamics Company overview Strategic direction Financial performance Branding & marketing Investor Presentation | November 2020 2 5 11 17 23 Radico RADICO KILAITAN LTD. 1#3Spirits Industry in India Faced by challenges in the near term; long term dynamics remain intact Sales of Spirits by Category (Volume) Sales of Spirits by Category (Value) 19.0% 3.6% 65.3% 12.1% 2020: 284 million cases 19.5% Radico RADICO KILAITAN LTD. 3.7% Industry CAGR: 5.9% 64.2% 12.6% 6.1% 77.1% 7.7% 6.6% 76.2% 8.4% Industry CAGR: 5.7% Whisky: 5.4% Whisky: 5.4% 2024: 9.1% 8.8% Brandy: 356 6.5% million 2020: Rs. 2,162 billion 2024: Rs. 3,053 billion Brandy: 4.9% Rum: Rum: cases 6.9% 8.1% White White Spirits: 6.5% Spirits: 7.9% 。 Spirits sales in India is expected to be 284 million cases in CY2020 representing a decline of 15.3% over CY2019 due to ongoing pandemic scenario During 2020-24 period, IMFL sales value is expected to grow at a CAGR of 5.7% and sales volume at 5.9% Vodka industry growth Premium Vodka Super Premium Vodka indicates a Overall strong premiumization trend 4.1% Source: Euromonitor International (May 2020) Investor Presentation | November 2020 5.1% 7.8% 2014-19 volume growth 60% 66% 2014 2019 Super-Premium and Premium Vodka 2#4Spirits Industry in India A highly regulated industry with complex structure Market Structure Free / Open market Radico RADICO KILAITAN LTD. Overview A business may apply for a license for a fee defined by the state government subject to license availability Pricing Control Company has reasonable independence over price increases States Arunachal, Assam, Goa, Maharashtra, Meghalaya, Tripura, Uttar Pradesh Auction market State owned/ Government corporations The license for sale of liquor is auctioned by the Government to the highest bidder on an annual basis based on an auction process The government is the wholesaler and/or distributor who purchases directly from a company. Some states also have retail shops run by the government Company has to negotiate price increases with state appointed distributors Strict control on pricing by the state government Chandigarh, Haryana, Punjab Andhra Pradesh, Chhattisgarh, Delhi, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Rajasthan, Tamil Nadu, Telangana, West Bengal Prohibition States where sales of liquor is prohibited Not applicable Bihar, Gujarat Investor Presentation | November 2020 3#5Spirits Industry in India Online liquor sales - a new route to market opportunity Punjab: Retailer- managed home delivery Maharashtra: E-Token service for store pickup & retailer-managed home delivery Online liquor sales New Delhi: E-Token service for store pickup Home delivery permitted Radico RADICO KILAITAN LTD. o In context of the COVID-19 pandemic and to make-up for the loss of sales with consumers refraining from going for liquor purchase, many state governments have now allowed home delivery of liquor o Home delivery is made by retailers directly and also through agencies like food aggregators and standard technology platforms o In long run, this may help in increasing industry revenues as many consumers, particularly women, are not comfortable going out to buy liquor from shops Investor Presentation | November 2020#6Company Overview One of the largest and oldest spirit manufacturers in India 1943 Year of Incorporation 75 years of experience in spirits making. One of the most recognized IMFL brands in India 165 Million litres Strong distribution 29% 75,000 network. Sale FY2020 through over 75,000 Premium Retailers retail and 8,000 on volume premise outlets share Investor Presentation | November 2020 Radico RADICO KILAITAN LTD. One of the largest spirits manufacturers. Operates three distilleries and one joint venture 32 Bottling units Strategically limiting interstate taxes and transport costs. Five own and 28 contract bottling units spread across the country Consistently increasing Prestige & Above brand contribution to total IMFL volumes; 49.5% in value terms FY2020 Net Revenue 24.3 (Rs. billion) With EBITDA margin of 15.2% LO 5#7MRP Brand Portfolio Broad choice for consumers with focus on premium brands Whisky Rum Brandy Luxury > Rs. 4,000 Semi Luxury Rs. 1,000 - 1,500 Super Premium Rs. 700 - 1,000 Semi-Premium / Premium Rs. 500 - 700 Deluxe Rs. 400-500 Regular Rs. 300-400 Ready to Drink Rs. 100 - 150 RAMPUR 8 PLUTON BAY Investor Presentation | November 2020 CONTESSA MORPHEUS MORPHER 1905 WHYTERALL Vodka Gin JAISALMER Radico RADICO KILAITAN LTD. Ready to Drink ELECTRA 2018 ELECTR ELECTI ELECT 6#8Global Presence Significant progress in building the brand equity in the overseas markets Investor Presentation | November 2020 Exports to over 85 countries across the world Exports 5% FY2020 Sales Split by Geography Domestic 95% Radico RADICO KILAITAN LTD. 7#9Manufacturing and Distribution Platform Consumer centric go-to-market strategy Pan India manufacturing platform to cater to customer needs Strategically located manufacturing units in two of the largest sugarcane producing states Contract Bottling Units (28) Own Bottling Units (5) Distilleries (5) Printing Unit (1) Investor Presentation | November 2020 Radico RADICO KILAITAN LTD. Location Distilleries Molasses Grain Malt Total Capacity (million litres) Rampur 3 75.0 27.0 7.5 109.5 Aurangabad 2 40.0 15.0 0.0 55.0 Total 5 115.0 42.0 7.5 164.5 Robust region wise and channel wise sales and distribution network ☐ Sells through over 75,000 retail outlets and over 8,000 on premise outlets Apart from wholesalers, a total of around 350 employees divided into four zones, each headed by regional profit center head Responsible for sales planning, production planning, sale monitoring and market share analysis Supported by regional marketing services head for implementing various marketing and trade promotion schemes 00 8#10Senior Management Experienced management team with in-depth industry experience Key Executives Background Dr. Lalit Khaitan, Chairman & Managing Director • Has over 50 years of industry experience Radico RADICO KILAITAN LTD. . • He is on the managing committee of a number of associations, including the PHD Chamber of Commerce and Industry, the Associated Chamber of Commerce and Industry of India, All India Distillers Association, Uttar Pradesh Distillers Association and Confederation of Indian Industry Received the lifetime achievement award by the Confederation of Indian Alcoholic Beverage Companies in 2005 and by Alcobev in 2008. Most recently been awarded the 'Legend of the Industry' at Spiritz 2014 Abhishek Khaitan, Managing Director • Has over 25 years of industry experience • Started the IMFL division of the Company and has played an instrumental role in the brand creation journey of the Company Was named the 'Top Entrepreneur of the Year' by Inspirit in 2008 Also received the Inspirit 2014 'Young Entrepreneur of the Year' Award K. P. Singh, Director - Production . Has over 45 years of industry experience and has been with the Company for over three decades • He is also the Occupier (as defined under the Factories Act) of the Company's factory in Rampur, Uttar Pradesh Investor Presentation | November 2020 9#11Senior Management Experienced management team with in-depth industry experience Key Executives Background Dilip. K. Banthiya, Chief Financial Officer • Has over 35 years of in corporate finance, treasury, international finance and corporate mergers and acquisitions . Invited to the CFO100 Roll of Honour 2012 in recognition of excellence • Has been associated with various professional bodies and committees Amar Sinha, Chief Operating Officer • • Has over 33 years of experience of heading reputable Indian and multinational FMCG companies and in the field of sales & marketing Prior to joining Radico in April 2017, he was the Executive Director at Wave Industries . Has also served Shaw Wallace where his last position was MD and CEO • He has also served in leadership positions at White & Mackay India, BDA Ltd (now ABD) and Playwin, among others Sanjeev Banga, President - International Business • • Has over 30 years of industry experience Previously worked with Seagram India, Nestle India, Kohinoor Foods, Mason and Summers Alcobev, and Godfrey Phillips India Joined Radico Khaitan in 2008 Investor Presentation | November 2020 Radico RADICO KILAITAN LTD. 10#12NYA Strategic Roadmap Focus on building brands and driving a profitable growth Radico RADICO KILAITAN LTD. . Innovation and brand building Established track record: Magic Moments vodka, Morpheus brandy New launches: 8PM Premium Black whisky, Jaisalmer Indian Craft gin, Rampur Indian Single Malt, Morpheus Blue brandy, 1965 The Spirit of Victory rum, Electra ready to drink, Pluton Bay rum, Regal Talon whisky Premium growth Growth driven by Prestige & Above category brands Strong premiumization focus with over 12.5% volume growth since FY2016 Prestige & Above category contribute to 29.0% of IMFL volumes and 49.5% of the IMFL value sales during FY2020 Strong cash flow generation and deleveraging Focused on a profitable growth driven by Prestige & Above category brands Ongoing debt reduction Improved profitability margins and return ratios Investor Presentation | November 2020 Consumer centric go-to-market strategy Human resource development 11#13Innovation and Brand Building Twelve brands launched in the last decade, eleven are in premium categories Started the branded IMFL division and launched its first brand 8 PM Whisky; Became a millionaire brand in first year of launch After creating brands in high volume regular categories, launched the first product in the semi premium category, Magic Moments Vodka Launched After Dark, a premium Launched two new flavors of category whisky Magic Moments Verve Vodka Launched Rampur Indian Single Malt luxury whisky and Regal Talons Semi Deluxe whisky 1997 2002 2006 2009 2011 2012 2014 2015 2016 2017 Launched Old Admiral Brandy in the regular category; Became one of the leading brands in CSD Launched Morpheus Super Premium Brandy; Magic Moments became a millionaire brand Launched Magic Moments Verve, a super premium vodka followed by flavors of Verve Launched ELECTRA, a premium ready to drink product Radico RADICO KILAITAN LTD. Launched Jaisalmer, a luxury Indian craft gin, 8PM Premium Black whisky and Morpheus Blue super premium brandy Launched Pluton Bay Premium Rum and 1965 The Spirit of Victory Premium Rum One of the few companies in India to have developed its entire brand portfolio organically with in house capabilities Four millionaire brands - 8 PM Whisky, Contessa Rum, Old Admiral Brandy and Magic Moments Vodka Investor Presentation | November 2020 2018 12#14Innovation and Brand Building Track record of developing successful brands Magic Moments family of vodka leads the Indian vodka industry with over 60% market share Volume (mn cases) 4.5 4.0 3.5 3.0 Magic Moments Vodka launched Magic Moments Vodka flavours launched 2.5 Magic Moments became a millionaire brand Verve launched 2.0 1.5 1.0 0.5 0.0 FY2006 FY2007 Verve flavours launched FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 Electra launched Verve launched in new premium packaging FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 Change of Indian consumer preference towards global vodka consumption pattern represents significant growth opportunity 5% 1% 8% 77% 9% India spirits industry (by value) Source: Euromonitor International (May 2020), Industry research Investor Presentation | November 2020 14% 35% ◉ Radico Khaitan's Magic Moments vodka has over 60% market share ☐ 28% The Millionaire Club ranked Magic Moments as the 11th largest vodka globally Global spirits industry (by value) 23% ■ Market share of vodka (in value terms) in the global spirits industry is about 35% compared to only 5% in India Changing consumption patterns and consumer preference represent significant growth opportunity for already a market leader, Radico Khaitan Radico RADICO KILAITAN LTD. 13#15Innovation and Brand Building Track record of developing successful brands Morpheus leads the super premium brandy segment with 56% market share Radice MORPH XO PREMIUM BRA MORFLIEUS MORPHEUS Blue XO PRIMIUM BRANDY Morpheus, India's largest selling premium brandy, crafted by our master blenders to challenge traditional brandy tenets 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 After the success of Morpheus, the Company launched Morpheus Super Premium brandy in 2018 Radico RADICO KILAITAN LTD. 8PM Premium Black whisky has established its mark within a short span after its launch 8 PM 8 PM Mustin's Selection 8 PM ILMUM BLACK 20 Master's Selection 8PM Premium Black - India's new premium whisky, achieving the perfect balance of strength & smoothness Made with the finest quality grain, this whisky is the epitome of lavishness and quality drinking Won Gold at the Global Monde Selection Awards in the calendar years 2019 and 2020 1.0 0.8 Volumes (mn cases) 0.2 70 0.4 0.6 Targeting million cases volume Volumes (mn cases) 1.0 0.8 0.6 0.4 0.2 ... Targeting million cases volume 0.0 0.0 FY2019 FY2020 FY2010 FY2012 FY2014 FY2016 FY2018 FY2020 Investor Presentation | November 2020 14#16Innovation and Brand Building Track record of developing successful brands Rampur Indian Single Malt testifies the Company's innovation and R&D strengths RAMPU RAMPUR INDIAN SINGLE MALT WISE NON CHILL FILTERS DOUBLE CASK Give Fy RAMPUR DOUBLE CASK RAMPUR • Rampur Single Malt is a luxury brand that is manufactured at our plant in Rampur (UP) It is aged to perfection in the foothills of the Himalayas and is called the Kohinoor of single malts It has drawn global recognition for its smoothness, taste and quality within a very short time since its launch in FY2017, with expressions priced between US $70 and US $1400 The Company has made investment in the malt capacity expansion to cater to the demand for this product The Rampur Double Cask expression was awarded with the 'Best World Whisky Gold Medal 2020' by The Fifty Best, New York Radico RADICO KILAITAN LTD. 8PM Premium Black whisky has established its mark within a short span after its launch • JAISALMER INDIAN CRAFT GIN NOW AVAILABLE IN INDIA JAISALMER JAISALMER INDIAN CRAFT GIN The Hugely Auth A triple-distilled neutral grain spirit, re-distilled in a traditional copper pot still; the recipe is handcrafted in a time-honored way Derived from the ancient Indian knowledge of herbs; retaining the classic gin flavor 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 Won Grand Gold at the Global Monde Selection Awards in the calendar year 2020 . Rated as the Best Gin produced out of Asia in 2019 at The Gin Guide Awards, the most respected honor for Gin in the world • Rampur Select won Gold Medal at the San Francisco World Spirits Competition in 2017 Whisky Advocate Magazine ranked it among the Top 20 Whiskies of the World at 5th position Investor Presentation | November 2020 • Gold Medal By The Fifty Best New York 2020 Scored 95 points in Ultimate Spirits Challenge 2020 15#17NAA Social Responsibility Actively contributing to the development of the society Radico RADICO KILAITAN LTD. CSR at Radico Khaitan is creating sustainable programs that actively contribute to and support the social and economic development of the society. The Company is committed to community development, enhancing livelihood, promoting education and health care including preventive health care and ensuring environmental sustainability Academic Excellence Awards • • • • Adopted 11 girls for their education, lodging and boarding in Rudrapur, Uttarakhand Recognition and laptop award for the three toppers in the Rampur district in class XII Recognition and gift cheque award for the three toppers in the Rampur district in class X Recognition and gift cheque for children of the Company's workers and contractors who have scored above 60% Sponsored education of one of children of a deceased employee. Tree Plantation Drive Rampur Distillery planted 2500 plants in the plant premises during the Tree Festival. Planted 3100 plants to celebrate the World Environment Day Radico Radico Khaitan Ltd. Rampur In Association With Smt. Kiran Devi Khaitan Memorial Charitable Trust A 18th A Welcomes You mic Excel ce Awaeremon ate 17 m Investor Presentation | November 2020 **Radico Khaitan Ltd. Rampur Radico In Association With Smt. Kiran Devi Khaitan Memorial Charitable Trust Welcomes You 18 in decellence demony 7-10-202 COVID-19 Relief Measures रेडिको खेतान ने रामपुर के हॉटस्पॉट क्षेत्रों The Company continued to provide its के साथ नगर भर में किया सैनिटाइजर स्प्रे support in the nation's fight against Coronavirus. In addition to supplying sanitizers to various government departments and hospitals, and cash donations, Radico Khaitan also started public area sanitization drive in Rampur district using Turbo Mist Sanitization Machine. शाह टाइम्स ब्यूरो रामपुर। रेडिको खेतान के डायरेक्टर केपी सिंह ने जानकारी दी की रेडिको खेतान द्वारा ट मिस्ट सैनिटाइजेशन मशीन से सैनिटाइजर का स्प्रे रामपुर के अनेकों क्षेत्रों में किया जा रहा है दा उन्होंने कहा कि सैनिटाइजर के छिड़काव से कोरोना वायरस के संक्रमण को रोकने में सफलता मिलती है। पिछले कई सप्ताह से रेडिको खेतान प्रतिदिन नगर एवं ग्रामीण क्षेत्रों में सैनिटाइजर स्प्रे करवा रहा है। रामपुर में आगापुर, मंसूरपुर ज्वाला नगर आदि बड़े क्षेत्रों में जब कोरोना संक्रमण के पॉजिटिव केस थे तभी टब मिस्ट सैनिटाइजर मशीन द्वारा इन क्षेत्रों में छिड़काव करवाया केपी सिंह डायरेक्टर से प्राप्त हो जाती है, उसी के अनुरूप हम लोग टब मिस्ट सेनिटाइजेशन मशीन के संचालन को प्रथम वरीयता में हॉट स्पॉट में उसके पश्चात् अन्य क्षेत्रों में भेजते हैं। रेडिको खेतान का गया था, अब यह क्षेत्र हॉटस्पॉट से मुक्त है। यह प्रयास बहुत सफल रहा, एवं हमें प्रसन्नता है कि रामपुर की जनता ने उन्होंने कहा कि रेडिको खेतान ने रेडिको खेतान के सेनिटाइजेशन के रबों मिस्ट सैनिटाइजर मशीन के स्प्रे इस कार्य को बहुत सराहा। रामपुर TURBO MIST SANITIZATION MACHINE LAMPIR SANITIZATION ACTIVITY PONSO ED BY RADICO KHAITAN LTD. दुर्गनगला, आसरा कालोनी हॉटस्पॉट पहुंचाने की व्यवस्था की है जिसे इलाकों में सैनिटाइजर स्प्रे करवाया सन्चालन हेतु सूचि बनाई है, इसी की जनता का भी भरपूर सहयोग उन्होंने बताया रेडिको खेतान प्रतिदिन सैनिटाइजर को राशन डिपो तक सूचि के अनुरूप प्रतिदिन रामपुर के प्राप्त हो रहा है. लोग स्वयं भी कॉल लिक्विड हैंड सैनिटाइजर की आपूर्ति नगर एवं ग्रामीण क्षेत्रों में करके अपने अपने क्षेत्रों में जिला प्रशासन को कर रही है जिसके कंट्रोल रेट पर राशन कार्ड होल्डर की सेनिटाइजेशन का कार्य किया जा रहा सेनिटाइजेशन हेतु आग्रह कर रहे हैं। माध्यम से सैनिटाइजर आवश्यक सैनिटाइजर प्राप्त हो रहा है। है रामपुर में नए एवं पुराने हॉट स्पॉट सभी के सहयोग से कोरोना संक्रमण क्षेत्रों में जिला प्रशासन द्वारा बांटा जा गुरुवार को जनपद के विद की सूचना जिला प्रशासन के माध्यम शीघ्र समाप्त होगा ऐसी आशा है। रहा है। जिला प्रशासन ने हैंड कैमरी क्षेत्र, चमरीआ तथा जामा मस्जिद, किला, रोडवेज, रेलवे स्टेशन, कलेक्ट्रेट आदि सैनिटाइजेशन स्प्रे किया गया 16#18Historical Financial Trend Strong premiumization focus with over 12.5% growth since FY2016 Prestige & Above brands (Million cases) Total volumes (Million cases) 12.5% 7.05 6.12 4.40 4.75 5.05 FY2016 FY2017 FY2018 FY2019 FY2020 Regular & Others brands (Million cases) 17.25 15.48 13.79 14.45 13.51 24.30 21.61 19.50 18.19 18.26 FY2016 FY2017 FY2018 FY2019 FY2020 Prestige & Above volume as % of Total volumes 28% 29% 26% 26% 24% FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020 Investor Presentation | November 2020 Radico RADICO KILAITAN LTD. 17#19Historical Financial Trend Consistent revenue growth with robust profitability Net Sales (Rs. Million) EBITDA (Rs. Million) and Margin (%) 10.1% 16,518 16,799 18,228 20,969 24,270 FY2016 FY2017 FY2018 FY2019 FY2020 Net Comprehensive Income (Rs. Million) and Margin (%) 18.6% 16.7% 14.7% 15.2% 11.3% 12.5% 1,861 2,101 2,674 3,492 3,682 FY2016 FY2017 FY2018 FY2019 FY2020 EPS (Rs.) and Dividend (%) Trend 33.0% 100.0% 9.3% 8.9% 60.0% 50.0% 6.7% 40.0% 40.0% 4.3% 4.7% 718 793 1,219 1,873 2,248 5.52 6.02 9.26 14.10 17.05 FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020 Investor Presentation | November 2020 Radico RADICO KILAITAN LTD. 18#20Q2 FY2021 Highlights Achieved growth over the pre-COVID levels IMFL volumes (million cases) : Y-o-Y performance 5.78 Q2 FY2021 Volumes up 4.6% y-o-y 6.04 Jul-19 Aug-19 Sep-19 Q2 FY2020 Jul-20 Aug-20 Sep-20 Q2 FY2021 Investor Presentation | November 2020 Radico RADICO KILAITAN LTD. 19#21Q2 FY2021 Highlights Strong cash flow generation and net debt reduction of over 129 Crore in since March 2020 Cumulative net debt reduction of * 694 Crore since FY2016 coupled with higher working capital efficiency Radico RADICO KILAITAN LTD. 61 947 785 162 Working Capital Days* 570 215 63 33 319 250 Mar-16 Mar-17 Mar-18 Mar-19 * Working Capital Days = (Trade Receivables + Inventories - Trade Payables) / Gross Revenue from Operations X 365 Investor Presentation | November 2020 36 382 Mar-20 253 129 Sep-20 20 20#22Q2 FY2021 Performance Overview Q2 y-o-y H1 FY2021 FY2020 Growth (%) FY2021 FY2020 y-o-y Growth (%) Operational Performance (Million Cases) Prestige & Above 1.69 1.63 3.6% 2.74 3.62 (24.2)% Regular & Others 4.35 4.15 5.0% 6.84 8.41 (18.7)% Total Volume 6.04 5.78 4.6% 9.58 12.03 (20.4)% Prestige & Above as % of Total 28.0% 28.3% 28.6% 30.1% Financial Performance (Crore) Revenue from Operations (Gross) 2,740.32 2,520.05 8.7% 4,514.98 5,197.13 (13.1)% Revenue from Operations (Net) 630.05 570.17 10.5% 1,039.20 1,193.76 (12.9)% Gross Profit 308.24 273.77 12.6% 531.77 572.94 (7.2)% Gross Margin (%) 48.9% 48.0% 51.2% 48.0% EBITDA * 106.65 86.27 23.6% 181.88 186.39 (2.4)% EBITDA Margin (%) 16.9% 15.1% 17.5% 15.6% Profit Before Tax 92.28 61.72 49.5% 150.49 144.09 4.4% Total Comprehensive Income ** 71.97 78.32 (8.1)% 115.62 132.89 (13.0)% Total Comprehensive Income Margin (%) 11.4% 13.7% 11.1% 11.1% Basic EPS (R) 5.42 5.89 (7.9)% 8.72 10.00 (12.7)% Above financials are on Standalone basis * EBITDA for FY2020 adjusted for Environmental Compensation of 5.83 Crore paid during Q2 FY2020 and 7.02 Crore paid during H1 FY2020 ** Tax provision last year included 26.62 Crore of Deferred Tax benefit Investor Presentation | November 2020 Radico RADICO KILAITAN LTD. 21#23Q2 FY2021 Performance Overview Q2 (*Crore) FY2021 FY2020 y-o-y Growth (%) H1 FY2021 FY2020 y-o-y Growth (%) Revenue from Operations (Gross) 2,740.32 2,520.05 8.7% 4,514.98 5,197.13 (13.1)% Revenue from Operations (Net) 630.05 570.17 10.5% 1,039.20 1,193.76 (12.9)% Other Income 3.75 1.87 100.2% 5.62 5.19 8.2% Income from Operations 633.80 572.05 10.8% 1,044.82 1,198.95 (12.9)% Cost of Goods Sold Employee Benefit Selling & Distribution 321.81 296.40 8.6% 507.43 620.81 (18.3)% 43.31 46.43 (6.7)% 82.03 88.54 (7.4)% 80.29 74.51 7.8% 129.73 154.27 (15.9)% Depreciation 13.27 13.22 0.4% 26.15 26.04 0.4% Interest 5.44 7.68 (29.2)% 12.01 15.06 (20.3)% Other Operating Expenses 77.40 66.25 16.8% 136.98 143.11 (4.3)% Total Expenses 541.53 504.50 7.3% 894.33 1,047.84 (14.7)% Profit Before Exceptional Item & Tax 92.28 67.55 36.6% 150.49 151.11 (0.4)% Exceptional Item 0.00 (5.83) 0.00 (7.02) Profit Before Tax 92.28 61.72 49.5% 150.49 144.09 4.4% Current Tax 23.49 9.75 38.55 40.63 Previous Year Adjustments (3.78) 0.00 (3.78) 0.00 Deferred Tax 0.15 (26.62) (0.77) (29.89) Net Profit 72.41 78.59 (7.9)% 116.48 133.35 (12.6)% Net Income Margin (%) 11.5% 13.8% 11.2% 11.2% Other Comprehensive Expenses / (Income) 0.44 0.26 0.86 0.47 Total Comprehensive Income 71.97 78.32 (8.1)% 115.62 132.89 (13.0)% Total Comprehensive Income Margin (%) 11.4% 13.7% 11.1% 11.1% Investor Presentation | November 2020 Radico RADICO KILAITAN LTD. 22#24RAMPUR ASAVA Brand Performance Radico RADICO KILAITAN LTD. RAMPUR ASAVA Rampur Indian Single Malt • Select variants: 。 Rampur Asava: World's first whisky finished in Indian red wine casks; matured in American Bourbon Barrels and finished in Indian Cabernet Sauvignon Casks o Rampur Double Cask: Matured in hand-picked American Bourbon barrels and European Oak Sherry casks 。 Rampur PX Sherry: Limited 48 cask batch where American Oak were handpicked and transferred to PX Sherry Butts from Jerez, Spain Now also available in select stores in New Delhi; Malt capacity expansion completed • Double Cask expression has been awarded with the 'Best World Whisky Gold Medal 2020' by The Fifty Best, New York Jaisalmer Indian Craft Gin JAISALMER INDIAN CRAFT GIN • A triple-distilled neutral grain spirit, re-distilled in a traditional copper pot still; the recipe is handcrafted in a time- honoured way; Derived from the ancient Indian knowledge on herbs, the botanicals beautifully release pine notes from Juniper • Launched in key European markets at the duty-free stores; Now available in select markets in India (e.g. Delhi and Goa) • Rated as the Best Gin produced out of Asia in 2019 at The Gin Guide Awards, the most respected Awards for Gin in the world MORPH MORPHEUS Morpheus Super Premium Brandy A semi luxury variant - Morpheus Blue Market leading share of over 58% in the super premium brandy category in India Investor Presentation | November 2020 Guide The Gin G THE GIN GUIDE Best in Awards Asia 2019 23#258 Brand Performance Magic Moments Vodka • Magic Moments Verve in a new premium canister packaging . • VERVE Marketing campaign with Bollywood stars Kartik Aryan and Jacqueline Fernandez Continues to gain market share with Magic Moments now accounting for ~60% of the overall vodka market share and Verve accounting for 20% market share of the premium vodka category 8PM Premium Black Whisky • A premium variant of 8PM whisky • Strong initial traction and consumer response 8 • Currently available in 14 states PM • Signed endorsement deal with Bollywood youth icon, Tiger Shroff Investor Presentation | November 2020 A&SP accounts for 6.2% of IMFL Revenues in YTD FY2021 (7.1% in FY2020) Radico RADICO KILAITAN LTD. 24#26RAMPUR New Launch - Rampur Asava World's first whisky finished in Indian red wine casks RAMPUR S RAMPUR - AMPOR RAMPUR RAMPUR RAMPUR ASAVA RAMPUR RAMPUR Abhishek Khaitan, Managing Director of Radico Khaitan, unveiling Rampur Asāva at the Whisky Show 2020 Click to watch the launch video RAMPUR Distillery ESTO 1943 Investor Presentation | November 2020 置 Radico RADICO KILAITAN LTD. RAMPUR Win Cash RAMPUR Distillery ESTO 1943 RAMPUR INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED American BOURBON BARRELS ASĀVA Classic Indian RED WINE CASKS CABERNET SAUVIGNON Matured in American Bourbon barrels and meticulously perfected in Indian Cabernet Sauvignon casks for the first time in History resulting in a unique expression with ani product of india impeccable balance. 750m 25#27Radico Branding & Marketing MAGIC MOMENTS VERVE HIGH ON VERVE THE SMOOTH BLEND OF SOPHISTICATION MOMENTS Radico PARTY CHARGER STATATAN: CONSUMPTION OF LIQUE SMILTIDES TO HEALTH. FOR CREATION VERVE SUPLE SEEN UM VODKA MAGIC MOMENTS ERVE Radico f MagicMoments Vodka Investor Presentation | November 2020 MOMENTS MAKE EVERY MAGIC MOMENT A MAGIC MOMENT INDIA'S LARGEST SELLING PREMIUM VODKA BRAND TRIPLE DISTILLED BLENDED GRANITS MAGIC MOMENTS Radico ELECTRA 8.0 STRONG ELECTRA ELECTRA ELECTRA ELECTRA 8 8.0 8.0 8.0 COSMOPOL MOMENTS MAGIC MOMENTS VERVE VERVE SUPER PREMIUM VODKA S MAGIC MOMENTS VODKA #MagicMoments The Smooth Blend Sophistication Radico RADICO KILAITAN LTD. Smooth TASTE OF FRIENDSHIP 8 PM PREMIUM BLACK Music CD Rivals become Friends Visit us at: www.spmpremiumblack.com | Follow us on: Bpmpremiumblack 8pmpremiumblackofficial MAGIC MOMENTS VERVE HIGH ON VERVE 26 26#28Branding & Marketing Jaisalmer Indian Craft Gin AN ODE TO JAISALMER LER Bagnificence "The air swells up with paeans of valour Of heroic feats, and protecting honour" Dedicated to this spectacular way of life, the new Jaisalmer Indian Craft Gin harks back to imperial age of Maharajas and their leisure moments. Befitting a state with many fascinating stories, Jaisalmer Indian Craft Gin is a worthy experience with a chequered past that lives on in a new incarnation today. JAISALMER INDIAN CRAFT GIN 40% Alc/Vol The Royally Awails LIMITED BATCH HANDCRAFTED 750 ml 27#29Branding & Marketing Rampur Indian Single Malt Whisky RAMPUR Distillery ESTO 1043 RAMPUR INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED VINTAGE SELECT CASKS Indulge in the rich Indian heritage and enduring traditions of the Maharajas. Aged in the foothills of the Himalayas this exquisite nectar is the Kohinoor of Single Maks RAMPUR Distillery RAMPUR INDIAN SINGLE MALT WHISKY NON-CHILL FILTERED VINTAGE SELECT CASKS Rampur Indian Single Malt Whisky: Decades of Perfection Takes forward the rich heritage of Rampur, a princely state of British India and the 75 years of distillation expertise of Radico Khaitan, the pioneers of legendary spirits in India. Aged in the foothills of the Himalayas, Rampur is the Kohinoor of Single Malts. The Rampur Indian Single Malt is presented in a distinguished canister packaging. Treasured in a robust stout bottle with a thick base, the overall appearance is of under- stated luxury. The Rampur Indian Single Malt experience is enhanced with the addition of a cork with sleeve and a hand crafted silk pouch imparting a royal touch. 1943 Decades of Perfection product of india 750ml 43%w/v PAMPER RAMPUR DAN SINDLE MALT 28#30ว Pranding & Marketing Magic Moments vodka and Magic Flavours INTERNATION BELGIUM 2013 MONDE WWARD FOR QUALITY PLE DISTILLED ED WITH TED RITS M2 MATS VODKA D MAGIC OMENTS MAGIC MOMEN Remi Ramex MAGIC MOMENTS MAGIC MAGIC Remix MAGIC MAGIC MOMENTS Kemex MAGIC MAGI MAGI MAG MAGI MOMENTS MAGIC AGIC MAGIC AGIC MOME MOMEN PREMIUM GRAIN VODKA IOMENTS MENTS MOMEN MOMEN OMENTS MENTS RASPBERRY IM FLAVOURED VODKA Magic Moments Vodka: Zing up Life A rage overnight, the enthralling taste of Magic Moments not only set towns buzzing but also unleashing the thirst of making every moment grand. Produced from finest grains, its triple distilled process is a mark of absolute purity that simply zings up life. The spirit of Magic Moments can be celebrated with various tantalizing flavors that take excellence a notch up! Remi GRAPEFRUIT & WATERM FLAVOURED VODK Remix FLAVOURED VODKA LEMON Remi SMOOTH CHOC FLAVOURED V FLAVOURED VODK ORANGE TRIPLE DISTILLED BLENDED WITH IMPORTED GRAIN SPIRITS AN Remi FLAVOURED VODKA GREEN APPLE OURED VODKA GRASS & GINGER & WILD GREEN LEMON OURED VODKA 29#31Branding & Marketing. Magic Moments Verve Premium Vodka OF LIQUOR IS INJURIOUS TO HEALTH. FOR CIRCULATION IN LIQUOR TRADE ONLY. MAGIC MOMENTS VERVE MAGIC MOMENTS VERVE HIGH ON VERVE THE SMOOTH BLEND OF SOPHISTICATION MAGIC MOMENTS MAGIC MOMENTS Naturally refined through 5 stage filtration process HIGH ON VERVE VERVE SUPER PREMIUM VODKA VERVE SUPER PREMIUM VODKA 30#32Branding & Marketing Morpheus Blue and Morpheus Super Premium Brandy Radico MORPHEUS MORPH XO PREMIUM BRA MORPHEUS Blue XO PREMIUM BRANDY Consumption of liquor is injurious to health. Radico MORPHEUS XO- BRANDY MORPHEUS XO BRANDY MORPHEUS MORPHEUS XO- BRANDY Consumption of liquor is injurious to health. 31#33Branding & Marketing 1965 The Spirit of Victory Premium Rum IN AN INITIATIVE UNDERTAKEN BY RADICO KHAITAN, 1965 – THE SPIRIT OF VICTORY PREMIUM XXX RUM, WAS LAUNCHED THIS YEAR. WITH THIS ENDEAVOUR, WE WISH TO SALUTE THE GALLANT TASK UNDERTAKEN BY OUR BRAVE SOLDIERS IN THE 1965 INDO-PAK WAR. MARKETED EXCLUSIVELY TO THE INDIAN DEFENCE FORCE PERSONNEL, IT IS AVAILABLE AT CANTEEN STORES DEPARTMENT. THE PRODUCT WAS CREATED TO CATER TO PREMIUM RUM DRINKERS, WITH RICH FLAVOURS LIKE DRIED FRUITS, CHOCOLATE, OAK AND HONEY. THE PRODUCT IS NOMINALLY PRICED AND IS A SHINY NEW FEATHER IN RADICO KHAITAN'S CAP. 1965 1965 SPIRIT OF VICTORY PREMIUM XX KEM 1965 20 32 32#34Branding & Marketing Regal Talon Whisky REGAL TALONS REGAL TALONS DELUXE RARE GENERATION WHISKY BLEND OF FINEST INDIAN GRAIN AND IMPORTED SCOTCH MALTS Net Contents: 750 ml 20 REGAL TALONS DELUXE RARE GENERATION WHISKY Regal Talons Rare Generation Whisky: Unbeatable Spirit The finest blend that combines Indian grain spirits with imported aged scotch malts to deliver an exceptional smoothness. Regal Talons has been especially made for those who believe in conquering and always emerge as champions at every step with their unbeatable spirit. The fine taste of Regal Talons sets free the spirit of passion & perfection and takes one to a new level of supremacy. The smoothness of this whisky rolls on the tongue like silk and lets one savour it effortlessly, enjoying the finest things in life DRITKELY 33#35Branding & Marketing Pluton Bay Rum Radico PLUTON BAY PLUTON BAY • RARE. EXOTIC RUM A RARE BLEND OF AGED CANE JUICE AND FINEST NEUTRAL SPIRITS PLUTON BAY RARE EXOTIC RUM. 75° PROOF 42.8% V NET CONTENTS 750m Pluton Bay Rare Exotic Rum: Spirit of Adventure A unique experience, with a perfect blend of international design and world-class packaging. Rare and smooth taste, offering a premium blend. A rich, full and spicy dark rum with caramel and spice on the nose. Smooth and medium-bodied rum. A suitable and fine mixing rum if ever there was one. 34 HE#36Branding & Marketing After Dark Whisky AFTER DARK AFTER DARK Fine Grain Whisky AFTER DARK Fine Grain Whisky After Dark Fine grain whisky: One life, many passions. Why wait? Night has different connotations for different people, it unfolds differently and brings a unique world of desire, adventure and excitement. It's where fun and action begins and party never stop. The smoothest flavours blended to perfection The smoothest flavours blended to perfection 35#37Branding & Marketing 8 PM Whisky TWIST TO OPEN-> 8 PM 8 PM 8 PM PREMIUM BLACK WHISKY 20 Years OF EXCELLENCE 8 PM PREMIUM BLACK WHISKY 20-Yar OF EXCELLENCE Master's Selection A BLEND OF SCOTCH & GRAIN SPRITS 750 25 UP 42.8% GRAIN Radico LENDED 8 PM Master's Selection A RARE SIGNATURE BLEND OF SCOTCH & GRAIN SPIRITS OF RODICH & LM VEVE GIVINER SEEHR 96 36#38Branding & Marketing Contessa Rum Contessa XXX rum: For the Man of Courage Another millionaire brand from Radico Khaitan's straddle. This brand has surpassed expectations and has garnered strong foothold in the Indian market. This rum truly reflects the real meaning of courage and the taste simply touches the right cords and reflects true essence of bravery. CONTESSA Radico Radice CONTESSA RON CONTESSA GRAN AÑEJO IN NTESSA XXX RUM SABOR DE 37#39Branding & Mark Old Admiral Brandy Radico BATCH NO MFG DATE CONTENTS: 750ML Radico Old Admiral VSOP BRANDY Distilled, Blended & Bottled By RADICO KHAITAN LTD. Bareilly Road, Rampur (U.P.) Made in India 40% V/V MADE IN DA Old Admiral Brandy: For Real Men Only Made specially for the men with pride, honour and courage. The splendid taste of this spectacular brandy celebrates the greatness achieved and passion for all good things in life. The classic taste perfectly blended with rich sensation & enthralling aroma ensures that it is savoured the way it is desired and truly deserved. 88 38#40Disclaimer Radico RADICO KILAITAN LTD. 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 Vice President, Finance & Investor Relations [email protected] +91 11 4097 5403 Investor Presentation | November 2020#41M2 ELECTR 49 ADENT ORANGE WAY TO CHE Radic Radie CONTESS 8 PM GRAIN 8 PM PREMIUM 20 Master's 1965 CROWN Whisky ed Mat D P 1965 SPIRIT OF VICTORY PLUTON BAY BLENDED MAGIC MOMENTS EC PLUTON BAY RARE EXOTIC RUM. 42.8% Radic 2 Bermude CONTESSA Admad DARK MAGIC MOMENTS AL NS NERATION KY MAGIC MOMENTS MORPHEU MORPHEUS XO BLENDED PREMIUM BRANDY 750 8 PM XXX MAGIC MOMENTS MAGIC MOMENTS MAGIC MENTS GRAIN VODKA AFTER DARK Fin Whisky MAGIC OMENTS JAISALMER ELECTR JAISALMER 80 INDIAN CRAFT GIN MOJITO Che Cingly Claude RAMPUR Tex INDIAN SINGLE MALT WHISKY NON-CHILL FILTERE SELECT CAR h MARS ELECTRA 8.0 COSMOPOLITAN R Radico RADICO KHAITAN LTD. 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.radicok