Tag Archives: Spaceman Spirits Lab

Tilaknagar Industries Reports 16.2% Volume Growth in Q2 FY26

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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

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.

Tilaknagar Industries ups investment in Samsara-maker Spaceman Spirits Lab

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IMFL manufacturer, Tilaknagar Industries Limited (TI) has made a follow-on investment of ₹10.66 crore in Spaceman Spirits Lab Private Limited (SSL), the maker of premium craft spirits such as Samsara Gin; Sitara Rum and Amara Vodka.

While ₹9.15 crore is part of the previously announced ₹13.15 crore investment envisaged under the September 2024 agreement between TI and SSL, the balance ₹1.51 crore is being invested to acquire shares from some of the early shareholders in SSL.

With this investment, TI’s stake in SSL increases from 12.98% to 21.36% on a fully-diluted basis. The definitive agreements further provide TI with the option to invest additional capital or acquire further stake from other shareholders at a pre-determined valuation methodology, subject to SSL achieving certain pre-agreed milestones. 

Ameya Deshpande, President – Strategy and Corporate Development, Tilaknagar Industries

Ameya Deshpande, President – Strategy and Corporate Development, Tilaknagar Industries said, “Our continued investment in Spaceman Spirits Lab reflects our conviction in the enduring appeal of premium craft spirits in a rapidly evolving market. Their thoughtfully curated portfolio featuring Samsara Gin, Sitara Rum and Amara Vodka demonstrates innovation, quality and craftsmanship. We are excited to deepen our partnership as Spaceman enters a new phase of growth.”

According to TI, the company is subscribing to 1,772 equity shares and 11,752 Compulsorily Convertible Preference Shares for ₹9.15 crore. Further, TI is acquiring 2,236 equity shares from existing SSL shareholders for ₹1.51 crore.

Aditya Aggarwal, Founder and Managing Director, Spaceman Spirits Lab

Aditya Aggarwal, Founder and Managing Director, Spaceman Spirits Lab, said, “We are thrilled to deepen our partnership with Tilaknagar Industries as we embark on a bold new chapter. With Tilaknagar’s extensive distribution network and industry leadership, we are excited to take our iconic brands to every corner of India.”

SSL is preparing to diversify its product portfolio with strategic forays into new categories including whisky, heritage liqueurs and tequila. “We are anticipating robust performance in the current fiscal, with projected revenue growth of nearly 70% and volume growth of about 60% in FY26,” Aggarwal added.

Tilaknagar Industries is expected to leverage its distribution network to sell Samsara Gin, Sitara Rum and Amara Vodka in certain states in India and abroad.