Radico Khaitan Ltd. — Interim / Quarterly Report 2021

Jul 28, 2021

RKL/SX/202 1-22/31 July 28, 2021

Bombay Stock Exchange Ltd.	National Stock Exchange of India Ltd.
Phiroze Jeejeebhoy Towers	Exchange Plaza, 5th Floor
Dalal Street	Plot no. C/i, G Block
Mumbai —400 001.	Bandra-Kurla Complex, Bandra (E)
	Mumbai-400 051.
Scrip Code: 532497
	Scrip Code: RADICO

Sub: Unaudited Financial Results (Standalone & Consolidated) for the quarter ended June 30. 2021

Dear Sir / Madam,

In continuation of our letter dated July 19, 2021, we wish to inform you that the Board of Directors of the Company at its meeting held today, inter-alia, approved the Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter ended June 30, 2021, as recommended by the Audit Committee.

Pursuant to Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulation 2015, we enclose the following:

• 1. The Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2021;
• 1. Limited Review Reports on the Unaudited Financial Results (Standalone and Consolidated) for the said quarter.

The meeting of the Board of Directors commenced at 12 Noon and concluded at 1.10 P .M.

We request you to take the same on record.

Thanking you,

Yours faithfully, for Radico Khaitan Limited (DikI iiaiGupta) Vice Psident - Legal & Company Secretary

Email Id: investor(radjco.co.in

Radico Khaitan Limited

End.: As above. Plot No. J-I, Block B-I, Mohan Co-op. Industrial Area Mathura Road, New Delhi-Il0O44 Ph : (91-11) 4097 5444/555 Fax: (91-11) 4167 8841-42 Registered Office Bareilly Road, Rampur-244901 (UP.) Phones 0595-2350601/2, 2351703 Fax: 0595-2350009 e-mail : info@radico.co.in, website : www.radicokhaitan.com CIN No. L26941UP1963PLCO27278

Independent Auditor's Review report on the Quarterly Unaudited Consolidated Financial Results of Radico Khaitan Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Radico Khaitan Limited

• 1. We have reviewed the accompanying statement of unaudited consolidated financial results ("the Statement") of Radico Khaitan Limited ("the Company") and its joint venture Radico NV Distilleries Maharashtra Limited for the quarter ended June 30, 2021 being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. This Statement is the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review.
• 1. This Statement which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, "Interim Financial Reporting" ("md AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statements based upon our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financing and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than audit conducted in accordance with standards of auditing specified under section 143(10) of the Companies Act, 2013 and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards specified under Section 133 of the Companies Act 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.

1. The accompanying Statement includes the Company's share of total comprehensive income of Rs 464.73 lakhs for the quarter ended June 30, 2021 respectively, as considered in the Statement, in respect of one joint venture, whose interim financial information has not been reviewed by the Independent auditor but certified by their management. This interim financial information has been furnished to us by the management of the Company.

Our conclusion on the Statement is not modified in respect of the matter stated in paragraph 5.

For BGJC & Associates LLP

Chartered Accountants Firm Registration Number: 003304N/N500056

Darshan Chhajer

Dpgilallyoignedbyoanhaa Chhajer - DN:Dolf4, 0P,rsonal, 0j11,=5717, pseud0nya,ba019b359\$1671822f54b0O44 2faaa35b4837l1bf91604db2Sf8017544a5O7 01 pool.Kod.=120002. .0=Ha.y,na. eorlaftlumbo,=l4906atofo6ofefoac700fbf2 89e7te009d3d7209a830l2IS9fb11b00007b 164 cn= Da than tOga jet Date: 202107.28 I 00904 a0530

Darshan Chhajer Partner Membership Number: 088308

UDIN: 21088308AAAABK1674 Place: Gurugram Date: July 28, 2021

RADICO KHAITAN LIMITED Registered Office: Bareilly Road, Rampur .244 901 (U.P.) Tel. No.0595-2350601/02, 2351703, Fax No.0595-2350009 Email Id:info@radico.co.inWebsite: www.radicokhaitan.com CIN: L26941UP1983PLCO27278

Statement of Unaudited Consolidated Financial Results for the quarter ended June 30, 2021

			Rs in Lakhs, except EPS)
		(1)	(2)	(3)	(4)
SI. No. I	Particulars	Quarter ended 30.06.2021 (Unaudited)	Quarter ended 31.03.2021 (Audited)	Quarter ended 30.06.2020 (Unaudited)	Year ended 31.03.2021 (Audited)
	Income (a) Revenue from Operations (b) Other Income	284,746.20 193.94	288,119.84 578.28	177,465.81 186.86	1,036,736.12 1,396.07
	Total Income	284,940.14	288,698.12	177,652.67	1,038,132.19
2	Expenditure (a) Cost of material consumed (b) Purchase of stock-in-trade (c) Changes in inventories of finished goods,	33,394.23 80.31	37,032.13 54.80	20,882.75 197.51	123,883.30 177.00
	work-in-progress and stock-in-trade (net of excise duty) (d) Excise duty on sales (e) Employee benefits expense (f) Finance Costs	(1,858.56) 224,470.06 4,320.79 463.32	(1,251.88) 218,647.32 4,709.46 462.46	(2,518.40) 136,550.69 3,871.70 657.00	(3,818.04) 794,922.31 17,633.56 2,201.65
	(g) Depreciation and amortisation expense (h) Selling & Distribution expenses (I) Other Expenses	1,537.72 7,608.93 7,521.01	1,419.59 9,456.27 9,335.61	1,287.52 4,943.74 5,958:26	5,389.91 31,651.62 31,392.02
	Total Expenditure	277,537.81	279,865.76	171,830.77	1,003,433.33
3	Profit before exceptional items, tax and share in profit of Joint Venture	7,402.33	8,832.36	5,821.90	34,698.86
4	Exceptional items	-	-	-	-
5	Profit before tax and share in profit of Joint Venture	7,402.33	8,832.36	5,821.90	34,698.86
6	Tax Expense Current Tax For earlier years Deferred Tax	2,012.13 (64.77) (167.79)	1,987.21 (11.74) 113.22	1,505.86 - (91.25)	8,435,85 (389.24) 207.19
7	Net Profit after tax but before the share in profit of Joint Venture	5,622.76	6,743.67	4,407.29	26,445.06
8	Share in Profit of Joint Venture	464.89	609.64	79.84	1,270.74
9	Net profitforthe period	6,087.65	7,353.31	4,487.13	27,715.79
10	Other Comprehensive (Income) / Expenses
	(i) Items that will not be reclassified to profit or loss (H) Income tax relating to items that will not be reclassified to	37.50	(57.25)	56.51	115.25
	profit or loss (Hi) Share in other comprehensive (Income) / Loss of Joint	944 )	1440 ,	14 22 ( . )	( 29 01
	venture	0. 16	2 95 ( . )	0 77	0 65
11	Total Comprehensive Income	6,059.43	7,399.11	4,444.07	27,630.20
12 13 14	Paid up equity share capital (Face value of Rs. 2/- each) Other Equity (Excluding Revaluation Reserve ) Earning per share (Face value of Rs.2/- each) not annualized	2,671.88	2,671.37	2,670.69	2,671.37 176,620.21
	Basic Diluted	4.56 4.56	5.51 5.50	3.36 3.36	20.75 20.74

Radico Khaitan Limited

CIN: L26941 UP1983PLCO27278

Registered Office: Bareilly Road, Rampur - 244 901 (U.P.) Email Id: info@radico.co.in, website: www.radicokhaitan.com

Notes:

• 1. The unaudited Consolidated financial results of the Company and its Joint Venture (the "Group") for the quarter ended June 30, 2021, have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on July 28, 2021. The statutory auditors have expressed an unmodified opinion on these financial results.
• 1. This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• 1. As the Group's business activity falls within a single primary business segment, namely Alcohol and Alcoholic Beverages, the disclosure requirements as per nd-AS 108 "operating segments" are not applicable.
• 1. The Second wave of the pandemic impacted the economy during the quarter ended June 30, 2021. However, the Company's business and operations continued with certain restrictions in line with the guidelines laid down by the Government.

Radico Khaitan has evaluated the impact of the pandemic on its business operations and financial position. Based on such review, there is no significant impact on the Company's assets, capital and financial resources, profitability parameters or liquidity position as at June 30, 2021.

The Management does not envisage any impact on the going concern assumption in the foreseeable future. However, the impact assessment of COVlD-19 will be a continuing process given the uncertainties associated with its nature and duration.

• 1. During the quarter, the Company has allotted 25,500 equity shares on exercise of Employees Stock Option by the eligible employees, as per the ESOP Scheme 2006.
• 1. The joint venture entity declared an interim dividend of 26.50% i.e Rs 26.50 per equity share of face value of Rs 100/- amounting to Rs 1000 lakhs during the quarter.
• 1. The Group has regrouped / reclassified previous period figures, wherever considered necessary.

For Radico Khaitan Limited

Dr. Lalit Khaitan Chairman & Managing Director DIN: 00238222

Place: New Delhi Date: July 28, 2021

Independent Auditor's Review report on the Quarterly Unaudited Standalone Financial Results of Radico Khaitan Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Radico Khaitan Limited

• I. We have reviewed the accompanying statement of unaudited standalone financial results ("the Statement") of Radico Khaitan Limited ("the Company") for the quarter ended June 30, 2021 being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.
• 1. This Statement which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, "Interim Financial Reporting" ("md AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the statements based upon our review.
• 1. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of the company's personnel responsible for financing and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than audit conducted in accordance with standards of auditing specified under section 143(10) of the Companies Act, 2013 and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards specified under Section 133 of the Companies Act 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.

For BGJC & Associates LLP Chartered Accountants Firm Registration Number: 003 304N/N500056

Darshan Chhajer

Dio,aaIIytts,d by Darahan Chhaje, 01* C=IN.o=Fer0On8ltjtl€=5717, paeudonym=ba019b3 895 1571822158b004421 4aa3 8 bat 37 17 b1916044b0518 017544 05971 poaaalCode=I22002, ,t-Ha,yana, serjalbumbe,-24966a86106c4a15ac79b1b1289 e76a089d3d7209aB3c121S9Ibf7bb000abl64, 0nDa,0han Chhaje, Date: 202107.28 13:07:47 *0530'

Darshan Chhajer Partner Membership Number: 088308

UDIN: 2l088308AAAABJ7505 Place: Gurugram Date: July 28, 2021

Raj Tower-i, G-1, Alaknanda Community Centre. New Delhi -110019, India Ph.: 9111 26025140 e-mail: bgjc@bgjc.in Delhi Gurugram Noida Udaipur

RADICO KHAITAN LIMITED Registered Office: Bareilly Road, Rampur .244 901 (U.P.) Tel. No.0595-2350601/02, 2351703, Fax No.0595-2350009 Email ld:info@radico.co.in Website: www.radicokhaitan.com CIN: L26941UP1983PLCO27278 Statement of Unaudited Standalone Financial Results for the quarter ended June 30, 2021

(Rs in Lakhs, except EPS) SI. No. Particulars - (1) (2) (3) (4) Quarter ended 30.06.2021 Quarter ended 31.03.2021 Quarter ended 30.06.2020 Year ended 31.03.2021 (Unaudited) (Audited) (Unaudited) (Audited) I Income (a) Revenue from Operations 284746.20 288,119.84 177,465.81 1,036,736.12 (b) Other Income 553.93 1,189.58 186.86 2,007.37 Total Income 285,300.13 289,309.42 177,652.67 1,038,743.49 2 Expenditure (a) Cost of material consumed 33,394,23 37,032.13 20,882.75 123,883.30 (b) Purchase of stock-in-trade 80.31 54.80 197.51 177.00 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (net of excise duty) (1,858.56) (1,251.88) (2,518.40) (3,818.04) (d) Excise duty on sales 224,470.06 218,647.32 136,550.69 794,922.31 (e) Employee benefits expense 4,320.79 4,709.46 3,871.70 17,633.56 (f) Finance Costs 463.32 462.46 657.00 2,201.65 (g) Depreciation and amortisatiori expense 1,537.72 1,419.59 1,287.52 5,389.91 (h) Selling & Distribution expenses 7,608.93 9,456.27 4,943.74 31,651.62 (i) Other Expenses 7,521.01 9,335.61 5,958.26 31,392.02 Total Expenditure 277,537.81 279,865.76 171,830.77 1,003,433.33 3 Profit before exceptional items & tax 7,762.32 9,443.66 5,821.90 35,310.16 4 Exceptional items - - - - 5 Profit before tax 7,762.32 9,443.66 5,821.90 35,310.16 6 Tax Expense Currentlax 2,012.13 1,987.21 1,505.86 8,435.85 For earlier years (64.77) (11.74) - (389.24) Deferred Tax (167.79) 113.22 (91.25) 207.19 7 Net Profit for the period 5,982.75 7,354.97 4,407.29 27,056.36 8 Other Comprehensive (Income)I Expenses (i) Items that will not be reclassified to profit or loss 37.50 (57.25) 56.51 115.25 (ii) Income tax relating to items that will not be reclassified to profit or loss ,9 44 . J . 14 40 (14.22) '29 01 9 Total Comprehensive Income 5,954.69 7,397.82 4,365.00 26,970.12 10 Paid up equity share capital (Face value of Rs. 2/- each) 2,671.88 2,671.37 2,670.69 2,671.37 11 Other Equity (Excluding Revaluation Reserve) 173,719.31 12 Earning per share (Face value of Rs.2/- each) not annualized Basic 4.48 5.51 3.30 20.26 Diluted 4.48 5.51 3.30 20.25

Radico Khaitan Limited

GIN: L26941UP1983PLCO27278 Registered Office: Bareilly Road, Rampur - 244 901 (U.P.) Email Id: info@radico.co.in, website: www.radicokhaitan.com

Notes:

• 1. The unaudited Standalone financial results of the Company for the quarter ended June 30, 2021, have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on July 28, 2021. The statutory auditors have expressed an unmodified opinion on these results.
• 1. This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules 2015 (lnd AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• 1. As the Company's business activity falls within a single primary business segment, namely Alcohol and Alcoholic Beverages, the disclosure requirements as per nd-AS 108 "operating segments" are not applicable.
• 1. The Second wave of the pandemic impacted the economy during the quarter ended June 30, 2021. However, the Company's business and operations continued with certain restrictions in line with the guidelines laid down by the Government.

Radico Khaitan has evaluated the impact of the pandemic on its business operations and financial position. Based on such review, there is no significant impact on the Company's assets, capital and financial resources, profitability parameters or liquidity position as at June 30, 2021.

The Management does not envisage any impact on the going concern assumption in the foreseeable future. However, the impact assessment of COVID-19 will be a continuing process given the uncertainties associated with its nature and duration.

• 1. During the quarter, the Company has allotted 25,500 equity shares on exercise of Employees Stock Option by the eligible employees, as per the ESOP Scheme 2006.
• 1. The Company has regrouped I reclassified previous period figures, wherever considered necessary.

For Radico Khaitan Limited

Dr. Lalit Khaitan Chairman & Managing Director DIN: 00238222

Place: New Delhi Date: July 28, 2021

IL