Tilaknagar Industries Limited — Investor Meet, 02-06-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Tilaknagar Industries reported strong Q4 FY26 results, with overall volumes surging 135% year-on-year to 8 million cases, including 4.6 million from Imperial Blue (IB). Net revenue increased 148% to INR 949 crore, and EBITDA grew 97% to INR 155 crore, achieving a 16.3% margin. For FY26, Mansion House Brandy crossed 10 million cases.

Management anticipates high-single to low-double digit volume growth for the combined business in FY27, targeting 16-18% EBITDA margins within 24-36 months. Significant progress has been made on IB integration, with 75% of the business exiting TSMA and full transition expected by FY27-end. The company aims to reduce net debt-to-EBITDA below 1.0x by FY29, focusing on cost optimization, efficient capital deployment, and expanding its luxury portfolio. Management maintains a confident outlook, emphasizing premiumization despite short-term input cost pressures.