Tilaknagar Industries Ltd
NSE:TI
Tilaknagar Industries Ltd
Tilaknagar Industries Ltd. engages in manufacture and sale of Indian made foreign liquor. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2010-07-15. The firm is primarily involved in the manufacturing and sale of Indian Made Foreign Liquor (IMFL) and extra neutral alcohol. The firm has diverse portfolio of brands in various liquor categories, including brandy, whisky, vodka, gin, and rum. Its brand portfolio includes Mansion House Brandy, Courrier Napoleon Brandy-Green, Courrier Napoleon Brandy-Red, Vodka, Mansion House Whiskey, Senate Royale Whiskey, Madira Rum, and Blue Lagoon Gin. The company provides a range of recipes, which includes Brandy Flip, Brandy Eggnog, Brandy High Ball, Brandy Milk Punch, Metropolitan, Lumumba, Chicago Cocktail, Apple Fizz, Lebrandy Milk Bonanza, Brandy Collins, Mata Hari, Cuban Libre, Brandy Smash, And The Warm Punch. The company has one owned facility, approximately three operating liquor subsidiaries, three leased and over nine tie-up units located across India. The company exports its products to East and South-East Asia, Africa, the Middle East, and Europe.
Tilaknagar Industries Ltd. engages in manufacture and sale of Indian made foreign liquor. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2010-07-15. The firm is primarily involved in the manufacturing and sale of Indian Made Foreign Liquor (IMFL) and extra neutral alcohol. The firm has diverse portfolio of brands in various liquor categories, including brandy, whisky, vodka, gin, and rum. Its brand portfolio includes Mansion House Brandy, Courrier Napoleon Brandy-Green, Courrier Napoleon Brandy-Red, Vodka, Mansion House Whiskey, Senate Royale Whiskey, Madira Rum, and Blue Lagoon Gin. The company provides a range of recipes, which includes Brandy Flip, Brandy Eggnog, Brandy High Ball, Brandy Milk Punch, Metropolitan, Lumumba, Chicago Cocktail, Apple Fizz, Lebrandy Milk Bonanza, Brandy Collins, Mata Hari, Cuban Libre, Brandy Smash, And The Warm Punch. The company has one owned facility, approximately three operating liquor subsidiaries, three leased and over nine tie-up units located across India. The company exports its products to East and South-East Asia, Africa, the Middle East, and Europe.
Acquisition Completed: Tilaknagar Industries closed the acquisition of Imperial Blue on 30th November, with the business included in financials from December 2025.
Volume Surge: Total volumes rose 76.1% YoY in Q3, reaching 5.3 million cases, driven by Imperial Blue; volumes excluding IB grew 16.8%.
Revenue Jump: Net revenue for Q3 FY '26 nearly doubled to INR 664 crores, a 95% YoY increase.
Margin Expansion: EBITDA margin for the quarter was 16.6%; management projects further 150-250 bps margin improvement over the next 2-3 years.
Integration & Synergies: Integration of IB is underway with help from consultants, targeting cost savings and network leverage for other brands.
Guidance: Expectation for high single-digit to low double-digit volume growth in FY '27 and forward, with low double-digit revenue growth.
Debt & Funding: Raised INR 2,100 crores debt and INR 2,093 crores via preferential issue; exceptional expense of INR 169 crores booked in Q3.
Industry Headwinds: MML introduction in Maharashtra has reduced prestige segment volumes by about 25%, but IB is maintaining its market share.
