Tilaknagar Industries Limited (TI) has registered robust volume growth, healthy profitability and continued strengthening of its balance sheet in Q2FY26.
During the quarter, TI’s sales volumes grew by 16.2% year-on-year, reaching 34.2 lakh cases, driven by strong consumer demand and market share gains across most key markets. TI’s net revenue stood at ₹398 crore, recording a 6.2% year-on-year growth. Adjusted for subsidy, the net revenue grew by 9.3% year-on-year, reflecting sustained brand momentum and portfolio premiumisation. The net sales realisation improved sequentially from ₹1,193 in Q1 FY26 to ₹1,215 in Q2 FY26.
The company reported an EBITDA of ₹60 crore and a Profit After Tax (PAT) of ₹53 crore, translating into an EBITDA margin of 15.1%. Adjusted for subsidy, the EBITDA grew by 8.2% year-on-year, while the PAT margin improved by 14 basis points to 13.2%.
Amit Dahanukar, Chairman & Managing Director, Tilaknagar Industries said, “We continue to gain market share across key markets, supported by the strong performance of our core brands. The new launches are helping to expand our premium portfolio as well as our geographic footprint. Our established brandy portfolio, an emerging whisky saliency and a balanced regional mix are supporting our move to be a pan-India player and build a differentiated premium portfolio.”
For the first half of FY26, Tilaknagar Industries reported a 21% year-on-year growth in volumes, reaching 66.2 lakh cases. TI’s net revenue stood at ₹807 crore, up 17.4% year-on-year (adjusted for subsidy: 14.4% growth). EBITDA for H1 FY26 was ₹155 crore and PAT was ₹141 crore, representing an EBITDA margin of 19.2% (adjusted for subsidy: 15.1%) and a PAT margin of 13.2%, reflecting a 106-basis point expansion year-on-year. The Advertising & Promotional reinvestment rate (as a percentage of subsidy-adjusted net revenue) rose from 0.5% in H1 FY25 to 1.7% in H1 FY26, emphasising the company’s continued investments in strengthening its brand equity.
On the balance sheet front, the company continues to maintain a strong financial position with gross debt of ₹47 crore and a net cash position of ₹1,086 crore. The quarter also saw strong traction in new markets, with launches in Odisha, Telangana, Kerala and Karnataka, led by Mansion House Whisky, Monarch Legacy Edition Brandy and Spaceman Spirits Lab Pvt. Ltd. portfolio including Samsara Gin and Amara Vodka.