ALFA Finder| Revenue growth | 166% YoY reported; adjusted for subsidy growth is 189%. |
|---|---|
| Margins | Gross margins under pressure from glass costs; offset by softened ENA. |
| Demand visibility | Strong; record monthly volume of 3.4 million cases in June'26. |
| Management confidence | High; confident in improving 15.5% baseline EBITDA margin. |
Growth
Volumes surged 172% YoY, primarily driven by Imperial Blue integration; MHB grew 7%. Net revenue reached Rs. 1,026 crore adjusted for subsidy.
Outlook
Targeting net debt of Rs. 1,700 crore by March '27. EBITDA margin guidance of 16%-18% for combined business by FY29.
Risks
Inflationary pressures in packaging (glass) impacted gross margins. Ongoing TSMA-related issues in select states like Odisha and Punjab.
Last quarter's promises, checked
Delivered
- Exit TSMA for significant ops by Q4 FY26 → 75% exited (= BEAT)
- Mansion House volume benchmark 10m cases → Achieved in FY26 (= BEAT)
- Volume growth high-single/low-double digit → 172% YoY (= BEAT)
Partly delivered
- Net debt-to-EBITDA <1.0x by FY29 → FY26 gross debt Rs 2,295cr (= PARTIAL)
Missed
- EBITDA margin 16%-18% → 15.5% in Q4 FY26 (= MISS)
Earnings Call Transcript filed with BSE, NSE: TI. Summary written with AI assistance from the document.
Tilaknagar Industries Ltd: key numbers
- Share price
- ₹504.40
- Market cap
- ₹12,504 Cr
- Revenue (annual)
- ₹2,346 Cr
- Net profit (annual)
- ₹20.87 Cr
- P/E (TTM)
- -188.2×Sector 29.0×
- Promoter holding
- 31.62%-0.06% QoQ
- FII holding
- 17.29%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Tilaknagar Industries Ltd
All →Tilaknagar Industries Legal & Regulatory
Tilaknagar Industries disclosed a DRI customs seizure memo for goods valued at about Rs 30.14 crore. Operations continue normally, with no quantifiable material impact now.
- Value
- ₹30.14 Cr
Tilaknagar Industries Other Announcement
Tilaknagar Industries filed a Reg 32(6)/ICDR 162A Monitoring Agency Report from Crisil for Q1 FY27. The report records nil utilization of preferential-issue and warrant proceeds towards the issue objects this quarter.
Tilaknagar Industries Earnings Call Transcript: Key Takeaways
Strong volume-led revenue growth driven by premiumization and strategic brand integration despite severe inflationary pressures on raw material and packaging costs.
- Call
- Guides 15% growth
Tilaknagar Industries Legal & Regulatory
Tilaknagar Industries disclosed a DRI search under Section 105 of the Customs Act on October 22, 2026. The search is part of an industry-wide HSN review, and the company reports no impact as of now.
Tilaknagar Industries Management Change
Tilaknagar Industries appointed Shailesh Tinaikar and Sanjay Saxena as Non-Executive Independent Directors effective 30 October 2026. Independent directors Dilawar Singh and Satish Mathur completed their tenures.
Tilaknagar Industries Results Update
Tilaknagar Industries released Q2 FY27 results highlights, with volume up 160% and revenue up 172% year-on-year. Imperial Blue gained market share across 17 states.