Radico Khaitan Share Price and Other Liquor Stocks in Focus as Sales Rise 4% YoY: Reports

India’s liquor industry reported improved sales growth in FY26 as consumers increasingly spent on premium alcoholic beverages despite inflation concerns and uneven demand across states.

According to news reports, industry executives have stated that spirits sales rose 4% year-on-year to 440 million cases in the financial year ended March 2026. Beer sales also increased 4% to 474 million cases despite heavy rainfall affecting demand during the summer season.

The recovery reflects improving discretionary spending, especially in urban markets where consumers are shifting toward premium products.

Premium Whisky and Vodka Drive Growth

The strongest growth during FY26 came from premium spirits, while mass-market liquor categories remained under pressure. Premium whisky sales grew 6%, even as regular whisky volumes declined 4%. Premium rum and vodka segments also posted strong growth of 20% and 33%, respectively.

Companies such as Pernod Ricard, Diageo plc, and Radico Khaitan have been expanding their premium portfolios to attract younger urban consumers.

Liquor Sales Grew at 18% in Maharashtra 

Beer companies faced a challenging summer due to excessive rainfall, especially during May, which is typically the peak consumption month.

However, policy changes in several states supported growth later in the year.

Maharashtra, India’s largest beer market, grew around 18% after the state raised taxes on spirits while keeping beer duties unchanged. Andhra Pradesh recorded nearly 60% growth, while Assam and Uttar Pradesh also saw strong increases in beer sales.

At the same time, markets such as Karnataka, Telangana, Odisha, and West Bengal remained weak.

Read more: Gold Industry Plans to Urge PM Modi to Revive Gold Monetisation Scheme After Appeal to Avoid Buying Gold.

Conclusion

India’s liquor industry is showing signs of steady recovery, led by rising demand for premium spirits and improving beer consumption in key markets. For investors, the trend highlights continued growth opportunities for companies focused on premiumisation and urban consumption.

However, rising fuel prices and supply-chain costs linked to global tensions could remain a key challenge for profitability in the coming financial year.

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