Tilaknagar Industries Limited — PPTs, 29-05-2026: Investor Presentation

**Business Performance:** Tilaknagar Industries delivered a strong FY26, with combined business volumes growing 68% to 20 million cases. Mansion House Brandy achieved a record 10 million cases, cementing its spot as India’s largest P&A brandy. Q4 FY26 saw combined volumes jump 135% YoY to 8 million cases.

**Growth Drivers or Strategy:** The company aims for double-digit volume growth and an EBITDA margin of 16-18% by FY29. Strategies include optimizing operations, enhancing supply chain efficiency, and disciplined debt management to bring Net Debt/EBITDA below 1.0x. They plan to leverage Imperial Blue and Mansion House distribution to expand their luxury and premium portfolio.

**Recent Developments:** TI has taken over manufacturing for approximately 75% of Imperial Blue's business, exiting TSMA. A 6x capacity expansion at their Andhra Pradesh distillery is complete, increasing capacity to 36 lakh cases/annum and expected to save INR 10 Cr annually. New luxury launches like Seven Islands Pure Malt Whisky and Monarch Legacy Edition Brandy are gaining market traction and receiving awards.

**Key Financial Metrics:** For FY26, revenue surged 69.9% to INR 2,346 Cr, EBITDA grew 55.9% to INR 352 Cr (15.5% margin), and adjusted PAT increased 15.7% to INR 232 Cr (9.7% margin). Q4 FY26 revenue was up 147.5% to INR 949 Cr, with EBITDA at INR 146 Cr (15.5% margin) and adjusted PAT at INR 74 Cr (7.8% margin).

**Management Commentary / Outlook:** Management is focused on regaining Imperial Blue's market share and leveraging its distribution for premium offerings, with plans to expand Seven Islands and SSL portfolios to over 10 states in 12-18 months. The Board expressed a preference for a Re. 1 dividend per equity share for FY26.