Leading Indian-Made Foreign Liquor (IMFL) manufacturer, Tilaknagar Industries Limited (TI) (BSE: 507205) (NSE: TI), has reported a 23.2 per cent year-on-year jump in profit after tax (PAT) at Rs 54 crore (excluding exceptional items) for the quarter ended December 31, 2024. The company had recorded a net profit of Rs 44 crore in the same period a year ago.
Tilaknagar Industries’ earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 60 crore showing a 17.4 per cent growth over the corresponding quarter of previous financial year. The company, maker of India’s largest and the world’s second largest-selling brandy, Mansion House, reported an improvement in EBITDA margin by 408 basis points, rising up to 17.7 per cent from 13.6 per cent reported in the quarter ended December 31, 2023
In the quarter ended December 31, 2024, the company’s net revenue from operations stood at Rs 340 crore as against Rs 377 crore in the year-ago period. The slight dip in net revenue from operations resulted from the changes in the pricing and distribution policy in the state of Andhra Pradesh, a large market for IMFL brands.
For the nine month period ended December 31, 2024, Tilaknagar Industries’ PAT (excluding exceptional items) increased by 50.1 per cent to Rs 152 crore from Rs 101 crore reported in the comparable period of the previous year.
Mr. Amit Dahanukar, Chairman & Managing Director, said “Despite the policy transition in Andhra Pradesh, which is one of our key markets, the company achieved a year-on-year PAT growth of 23 per cent. The transition is more or less behind us and we expect to continue our growth trajectory in the state and other major markets. In Q3 FY25, we achieved the highest-ever sales volumes in Karnataka and continued to grow market share in Telangana, Kerala and Puducherry.”
Recently, the company forayed into the luxury, craft and premium spirits space with the launch of Monarch Legacy Edition Brandy. Crafted from a meticulous blend of matured Indian grape spirits and French grape spirits aged up to 8 years, Monarch is receiving positive response from trade as well as consumers.
“We will now look to further penetrate within these segments with Samsara Gin being the next play through our royalty arrangement with Spaceman Spirits Lab Pvt Ltd.” Mr Dahanukar added.
In the quarter ended December 31, 2024, the company’s primary volumes grew 2.3 per cent to 30.1 lakh cases and secondary volumes grew 9.2 per cent, over the same period a year ago.
