Tag Archives: Financial Performance

Tilaknagar Industries PAT jumps 95.7%; EBITDA grows 62.6% in Q4 FY 25

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IMFL manufacturer Tilaknagar Industries Limited (TI) has reported a major spurt in revenue and profit for Q1 2025. The company’s net revenue from operations grew 13.1% from ₹359 crore to ₹406 crore in the corresponding quarter last year. While the profit after tax (PAT), excluding exceptional items, showed a growth of 95.7%, rising to ₹77.35 crore from the ₹39.52 crore reported in the year-ago period.

TI reported a 62.6% growth in EBITDA from ₹48 crore to ₹78 crore in Q4 FY24, and they attribute this to improved operational efficiencies and volume-led growth,. Adjusted for subsidy income, the EBITDA stood at ₹65 crore, a 35.5% Y-o-Y growth.

The EBITDA margin registered a growth of 588 basis points; rising from 13.4% to 19.3% during the period under reference. In Q4 FY 25, the company recorded a volume growth of 20.1% Y-o-Y, signaling a strong return to its growth trajectory. This performance was reinforced by the successful completion of the Andhra Pradesh Route to Market (RTM) transition, which had previously impacted volumes. The company also reported significant market share gains across all key states, further reinforcing its competitive position in the Indian IMFL landscape.

Speaking on the performance, Amit Dahanukar, Chairman & Managing Director, Tilaknagar Industries said, “We anticipate sustained momentum, supported by continued market share gains across all major Southern states.”

For FY25, TI reported consolidated net revenue of ₹1,434 crore, up 2.9% Y-o-Y, impacted by a price reduction in Andhra Pradesh and muted volume growth in the first nine months. Despite modest growth in net revenue, EBITDA rose by 37.4% to ₹255 crore while PAT surged 62.9% Y-o-Y to ₹230 crore.

In FY25, TI made further progress in reinforcing its balance sheet, reducing gross debt and achieving a net cash position of ₹107 crore as of March 31, 2025. The Board of Directors has recommended a dividend of ₹1 per equity share for FY25.

During the year, TI strengthened its market presence, maintaining its position as the third-largest player in the Prestige & Above (P&A) IMFL segment in Telangana and Karnataka and the largest IMFL player in Puducherry, reflecting strong brand equity and deep market penetration. Additionally, TI has commenced distribution of the Spaceman Spirits Lab (Spaceman) portfolio, including Samsara Gin, in select markets. This follows the usership agreement signed between Spaceman and TI, marking a strategic step towards expanding TI’s presence in the premium craft spirits segment.

Tilaknagar Industries reports 82% PAT growth in Q2

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  • Expansion plans in East and North-East markets
  • TI leverages Samsara brand equity, soon to launch range of luxury products

Leading Indian-Made Foreign Liquor (IMFL) manufacturer, Tilaknagar Industries Limited (TI) has reported a profit after tax excluding exceptional items (PAT) of ₹58.2 crore, implying a growth of 82.4% over the ₹31.9 crore PAT reported in the corresponding quarter last year. The earnings before interest, tax, depreciation and amortisation (EBITDA) at ₹66 crore grew 39% over the ₹47.4 crore EBITDA reported in Q2 of the previous year.

Significantly, the company’s EBITDA margin expanded 422 basis points year-on-year (YoY) to 17.6%. Adjusted for the subsidy income, EBITDA came in at ₹56 crore, at a margin of 15.3%, showing 188 basis points expansion YoY. This growth in profitability was witnessed despite muted growth in net revenue from operations, at 5.8%, to ₹374.9 crore due to a temporary slow-down in growth, caused by policy transition in one of company’s key markets, Andhra Pradesh, which has recently opened liquor retail to private parties in the state.

Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries said, “With retail going private in Andhra Pradesh mid-October onwards, we expect to continue with our industry-beating growth trajectory, achieved through a combination of doubling down on our market share gains from our brandy portfolio as well as our new product launches across categories.”

The company that has a strong foothold in key markets of South India, as well as certain markets in East India, recently launched Mansion House Gold Barrel Whisky in Assam. With this launch, the company plans to further expand into the East and the North-East markets where whisky enjoys an 80% share of IMFL market in the East and North-East markets.

TI’s flagship brand Mansion House Brandy is India’s highest selling brandy and the eighth-largest selling spirits brand across categories, while its second millionaire brand, Courrier Napoleon Brandy has emerged as the third-fastest growing spirits brand globally. The company plans to creatively invest in advertising and sales promotion to provide a meaningful share of voice to the brandy category in the overall IMFL market.

During the quarter under reference the company become net debt free, nearly six months ahead of its original target date for achieving the net debt-free status. “From a peak debt more than ₹1,100 crore in March 2019, to achieving the net debt free status, we have come a long way. This transformation was achieved through a combination a financial prudence and achieving industry-beating profitable growth,” Dahanukar added.

The company attributes the growth in profitability to superior brand-mix as well as effective cost-optimisation initiatives. With the worst of the inflationary cycle over, the company anticipates further growth in profitability in the upcoming quarters.

Recently, the company moved to increase its investment in Spaceman Spirits Lab Pvt. Ltd. (SSL), maker of Samsara Gin and Sitara Rum, to 20% from the earlier 10%. TI will leverage the Samsara brand equity to showcase a robust luxury portfolio, along with its soon-to-be launched range of luxury products.