Mumbai, February 4, 2025 – Tilaknagar Industries Ltd. (NSE: TI, BSE: 507205) has reported a robust financial performance for the quarter and nine months ended December 31, 2024. The company posted a significant rise in profits, driven by higher revenue from operations and lower finance costs.
Key Financial Highlights (Consolidated)
| Particulars (₹ in Lacs) | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 | FY24 (Audited) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 80,534.86 | 82,332.16 | 79,754.48 | 2,29,343.22 | 2,18,770.28 | 2,95,826.04 |
| Other Income | 392.58 | 335.28 | 842.91 | 911.82 | 1,007.84 | 1,413.82 |
| Total Income | 80,927.44 | 82,667.44 | 80,597.39 | 2,30,255.04 | 2,19,778.12 | 2,97,239.86 |
| Cost of Materials Consumed | 20,964.25 | 18,843.21 | 18,336.59 | 56,570.31 | 50,981.91 | 69,219.72 |
| Excise Duty | 46,491.89 | 44,846.62 | 42,085.73 | 1,26,508.33 | 1,15,253.17 | 1,56,430.74 |
| Employee Benefits Expense | 1,388.48 | 1,424.63 | 1,101.62 | 4,123.25 | 3,143.16 | 4,684.05 |
| Finance Costs | 235.96 | 334.60 | 805.10 | 986.86 | 2,181.08 | 2,673.93 |
| Depreciation & Amortization | 776.73 | 775.42 | 800.05 | 2,324.84 | 2,405.21 | 3,189.32 |
| Total Expenses | 75,512.80 | 76,844.20 | 76,220.53 | 2,15,008.56 | 2,09,634.62 | 2,83,144.49 |
| Profit Before Tax (PBT) | 5,414.64 | 5,823.24 | 4,376.86 | 15,246.48 | 10,655.95 | 13,801.10 |
| Net Profit After Tax (PAT) | 5,392.66 | 5,823.24 | 4,376.86 | 15,224.50 | 10,655.95 | 13,801.10 |
| Earnings Per Share (EPS) (₹) | 2.79 | 3.02 | 2.28 | 7.89 | 5.59 | 7.23 |
Segment Performance & Key Business Developments
- Investments in Premium Spirits:
- ₹1,315 Lacs follow-on investment in Spaceman Spirits Lab Private Limited (SSL), makers of premium craft gin Samsara and rum Sitara. This investment raises Tilaknagar’s stake in SSL to 20.02%.
- ₹802.85 Lacs investment in Round the Cocktails Private Limited (Bartisans), a 'ready-to-pour' beverage company. With this, Tilaknagar now holds 36.17% in Bartisans.
- Debt Reduction & Exceptional Items:
- The company has completely repaid its Restructured Debt from Edelweiss Asset Reconstruction Company (EARC).
- ₹586.55 Lacs of trade receivables and other advances written off by subsidiary Prag Distillery (P) Ltd.
- Regulatory & Compliance Update:
- Post December 31, 2024, the Income Tax Department reassessed past financial years (2016-2023) and made additions to the company's returned income. However, the company remains confident of a favorable outcome with no material impact expected on operations.
Management Commentary
Amit Dahanukar, Chairman & Managing Director, stated: "Our focus on premiumization and strategic investments in craft spirits have strengthened our market positioning. The repayment of our restructured debt significantly improves our financial health, reducing future finance costs. We remain optimistic about our growth trajectory, backed by strong consumer demand and efficient cost management."Strategic Outlook & Market Positioning
- Expansion Plans: The company plans to restart its grain distillery plant to enhance production efficiency.
- Growth in Premium Liquor Segment: With rising demand for premium craft spirits, investments in SSL and Bartisans align with Tilaknagar’s growth strategy.
- Debt-Free Future: The company's successful debt restructuring enhances financial flexibility for future investments.