IMFL Maker Tilaknagar Industries’ Net Revenue Jumps 48.3 Per Cent to Rs 357.45 Crore in Q4, PAT Grows 225.8 Per Cent
Mumbai,18th, May 2023: Tilaknagar Industries Limited (TI) (BSE: 507205) (NSE: TI), a leading Indian-Made Foreign Liquor (IMFL) manufacturer, has reported a 225.8 percent jump in Profit After Tax, excluding exceptional items, at Rs 32.69 crore in the quarter ended March 2023 up from Rs 10.03 crore in the corresponding quarter a year ago.
Maker of the Mansion House brand, Tilaknagar Industries achieved its highest-ever quarterly net revenue of Rs 357.45 crore in the quarter under review, up 48.3 percent from the net revenue of Rs 241.06 crore registered in the corresponding quarter last year. Sequentially, the company posted a further 18 percent growth over its previous highest-ever net revenue of Rs 302.87 crore achieved in the quarter ended December 31, 2022.
The company’s Earnings Before Interest Tax Depreciation and Amortization (EBITDA) grew 68.6 percent at Rs 43.47 crore in the quarter ended March 2023 as against Rs 25.79 crore in the year-ago period.
Mr Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries said, “Despite persistent inflationary pressures, we have been delivering strong quarterly numbers sequentially which highlights the resilience of our business. In Q4 as well, we were able to maintain our EBITDA margins at 12.2 percent.”
In the quarter ended March 2023, Tilaknagar Industries has reported a robust 46 percent volume growth. The company’s sales volumes increased to 28.4 lakh cases in the quarter under review from 19.5 lakh cases in the same period last year.
Tilaknagar Industries grew 43 percent year-on-year in FY23 as against an industry growth of approximately 12 percent. The company’s volume growth in FY23 was led by its flagship brand Mansion House and Courrier Napoleon which grew 40 percent and 50 percent, respectively, year-on-year. In FY23, Courrier Napoleon also became the company’s second millionaire brand, after Mansion House.
Recently, Tilaknagar Industries announced investment in Spaceman Spirits Lab Private Limited (SSLPL), makers of premium Indian craft gin, Saṃsara. The company now holds 10 percent of the issued and paid-up share capital in SSLPL on a fully diluted basis after the Rs 9.75 crore-investment. With this investment, Tilaknagar Industries will also be able to participate in the booming Indian craft spirits industry, a segment that has recently witnessed a sharp rise in popularity.
As of March 2023, Tilaknagar Industries debt decreased by Rs 199 crore to Rs 250 crore from Rs 449 crore as of March 2022. The company’s net debt stands at Rs 182 crore as on March 2023. The company aims to go near net-debt free over the next 12 months.