India’s alcohol industry is witnessing unprecedented growth, with sales projected to reach $64 billion by 2027. Riding the wave of this booming market, Lalit Khaitan, Chairman and Managing Director of Radico Khaitan, has secured his spot in the exclusive Billionaires Club.
About Radico Khaitan
Radico Khaitan, renowned as one of the oldest and largest manufacturers of Indian Made Foreign Liquor (IMFL), boasts a portfolio of over 15 brands, including popular names like 8 PM Whisky, Magic Moments Vodka, Contessa XXX Rum, and Old Admiral Brandy. With a 40% stake in Radico Khaitan, Lalit Khaitan’s net worth has soared to an estimated $1 billion, according to Forbes.
The publicly traded company experienced a remarkable surge in its shares, leaping over 50% in 2023, thanks to escalating sales and the successful launch of new beverages. Radico Khaitan currently commands a staggering total revenue of $380 million, with 80% of its earnings generated from IMFL, distinguishing itself from local alcoholic concoctions.
Lalit Khaitan’s education
Born in Kolkata, Lalit Khaitan is an alumnus of Mayo College, Ajmer, and St. Xavier’s College, Kolkata. Acquiring Radico Khaitan in 1972-1973, Khaitan steered the company to unprecedented success in the competitive alcohol market.
Lalit Khaitan’s family
His son, Abhishek Khaitan, plays a pivotal role as the Managing Director, driving the company’s expansion into the branded business arena. Abhishek, holding a Bachelor’s Degree in Engineering from BMS College of Engineering, Bangalore, and equipped with managerial finance and accounting expertise from Harvard, Massachusetts, USA, represents the next generation at the helm of Radico Khaitan’s continued success.
