Whalesbook: AI-Powered Stock Updates via WhatsApp

Stock Analysis

Description

Tilaknagar Industries Ltd. is primarily involved in manufacturing and sale of Indian Made Foreign Liquor (IMFL).

Key Growth Triggers

Strategic expansion into the whisky market via Imperial Blue acquisition and new product launches like 'Seven Islands Pure Malt Whisky'.
Focus on premiumization and building a national presence.
Capacity expansion at Prag Distillery.
Strengthening balance sheet with net cash position and successful capital raises.
Legal victories for key brands like Mansion House and Savoy Club ensuring market position.

Order Book

Currently no data available for Order Book.

Key Red Flags

High promoter share encumbrance (81.6% as of Nov 2025).
CRISIL's 'Watch Developing' rating on facilities due to acquisition leverage and integration risks.
Margin contraction in Q2 FY26 attributed to increased A&P spending.

Key Dates To Watch

Postal Ballot voting period: January 11, 2026 – February 09, 2026.
Announcement of Postal Ballot results: By February 11, 2026.

Corporate Announcements

14th Apr 26

Impact Rating: 3

Tilaknagar Industries Ltd. has filed its quarterly SEBI Regulation 74(5) compliance certificate with stock exchanges, confirming smooth processing of dematerialization of shares for the quarter ended March 31, 2026.

9th Apr 26

Impact Rating: 5

Tilaknagar Industries Ltd. is conducting its 'Saksham Niveshak' campaign from April 1 to July 9, 2026, to help shareholders claim unpaid dividends and update essential details like KYC and nominations.

9th Apr 26

Impact Rating: -

No description available.

8th Apr 26

Impact Rating: 7

Leading IMFL maker Tilaknagar Industries recognized as one of Asia's Best Companies 2026 by FinanceAsia, highlighting management excellence and industry leadership.

1st Apr 26

Impact Rating: 8

Tilaknagar Industries announced its flagship Mansion House Brandy brand has surpassed 10 million cases in sales in FY26. This significant milestone marks growth from 8.7 million cases in the previous fiscal year, FY25.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	United Spirits	1350.60	57.31	98254.39	0.89	464.00	42.56	3173.00	11.57	26.50	12658.00	18.34	1714.40	486.12	11.69	12.34	0.05
2.	United Breweries	1517.45	105.59	40132.72	0.66	46.34	-64.80	2052.83	-3.02	13.88	9240.39	8.32	380.09	46.52	9.24	6.03	0.18
3.	Radico Khaitan	2900.70	83.69	38851.18	0.14	138.96	69.07	1493.93	33.83	16.24	5598.29	14.85	464.24	138.96	13.31	7.98	0.21
4.	Allied Blenders	472.85	51.47	13227.49	0.76	62.92	35.22	990.06	14.11	21.08	3807.51	12.86	256.98	64.31	8.49	6.29	0.68
5.	Tilaknagar Inds.	421.75	38.15	10424.43	0.24	53.34	-7.44	398.22	6.23	27.67	1553.60	18.76	273.24	53.34	4.37	20.03	0.02
6.	India Glycols	936.35	24.23	6278.67	0.53	65.06	30.88	1092.20	13.63	12.35	3971.08	14.53	259.14	65.06	2.42	4.04	0.86
7.	Piccadily Agro	585.50	52.57	5770.05	0.00	26.72	8.32	212.21	14.76	22.68	863.64	22.86	109.75	26.69	7.16	10.87	0.40
–	Median: 23 Co.	286.55	33.74	1596.34	0.14	19.5	0.0	212.21	11.57	13.25	863.64	8.55	79.6	19.5	2.83	6.29	0.43

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	274	303	357	304	354	377	359	313	375	340	406	409	398
Expenses	243	263	316	270	305	324	305	263	309	280	328	315	339
Operating Profit	31	40	41	34	49	53	53	50	65	60	78	94	60
Other Income	0	52	50	1	6	9	-2	2	3	4	18	4	3
Profit before tax	13	76	76	22	39	46	39	40	58	54	87	88	53
Tax %	0%	0%	-0%	0%	0%	0%	0%	0%	0%	0%	-0%	0%	0%
Net Profit	13	76	76	22	39	46	39	40	58	54	87	88	53
EPS in Rs	0.81	4.16	4.10	1.15	2.06	2.37	2.01	2.09	2.99	2.81	4.49	4.56	2.56

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	616	551	372	381	308	489	649	549	783	1,164	1,394	1,434	1,554
Expenses	474	467	484	469	371	437	657	493	679	1,031	1,205	1,181	1,262
Operating Profit	142	84	-112	-88	-63	52	-9	56	104	134	189	254	292
Other Income	4	2	0	2	32	2	474	12	10	103	13	27	29
Interest	53	82	120	153	134	168	125	65	58	40	27	12	10
Depreciation	23	27	37	36	36	35	31	31	31	31	30	29	28
Profit before tax	69	-23	-268	-275	-201	-149	309	-29	25	166	146	239	283
Net Profit	49	-34	-266	-268	-198	-149	308	-29	29	166	146	239	283
EPS in Rs	3.93	-2.77	-21.32	-21.49	-15.87	-11.90	24.61	-2.30	1.83	8.95	7.56	12.37	14.42
Dividend Payout %	20%	-2%	0%	0%	0%	0%	0%	0%	5%	3%	7%	8%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	124	125	125	125	125	125	125	125	159	185	193	194	208
Reserves	418	383	112	-113	-310	-457	-149	-178	-38	300	472	709	1,804
Borrowings	777	787	845	1,028	989	1,072	535	663	584	254	120	43	48
Other Liabilities	209	302	341	204	199	414	500	344	278	265	255	284	287
Total Liabilities	1,528	1,596	1,423	1,244	1,003	1,154	1,011	955	982	1,005	1,040	1,230	2,347
Fixed Assets	406	555	530	494	541	506	481	450	422	403	380	354	340
Gross Block	522.39	703.44	714.85	710.88	793.43	793.48	799.57	798.81	766.59	813.65	819.99	822.82	–
Accumulated Depreciation	116.02	148.66	184.66	217.07	252.42	287.12	318.12	348.77	344.34	410.21	440.34	469.22	–
CWIP	127	15	15	15	15	15	0	0	0	0	0	3	5
Investments	46	46	42	42	48	48	48	48	64	44	33	61	64
Other Assets	949	980	835	693	399	585	482	457	497	557	627	811	1,938
Total Assets	1,528	1,596	1,423	1,244	1,003	1,154	1,011	955	982	1,005	1,040	1,230	2,347

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	38	178	19	27	202	13	208	72	81	84	114	176
Cash from Investing Activity	-109	-84	-9	-1	-25	0	0	-0	-46	-19	-11	-75
Cash from Financing Activity	70	-81	-23	-28	-178	-5	-208	-69	-12	-67	-129	-94
Net Cash Flow	-1	12	-13	-3	-2	9	0	2	23	-2	-25	7

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	107	84	75	82	80	132	133	116	107	104	110	104
Inventory Days	137	134	145	108	227	273	116	198	142	152	113	191
Days Payable	57	166	218	185	467	544	272	369	321	165	134	170
Cash Conversion Cycle	187	52	2	6	-159	-139	-23	-54	-71	91	89	126
Working Capital Days	92	76	-84	-491	-1,067	-700	43	-73	-17	18	79	96
ROCE %	10%	5%	-12%	-11%	-7%	2%	-3%	6%	13%	15%	22%	28%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Nov 2025
Promoters	41.95%	41.15%	42.02%	41.97%	40.26%	40.19%	40.17%	40.14%	40.00%	40.00%	39.97%	37.20%	31.50%
FIIs	10.38%	10.90%	10.57%	11.33%	11.57%	11.39%	11.69%	12.40%	13.96%	15.32%	15.29%	19.45%	18.43%
DIIs	0.01%	0.01%	0.01%	0.02%	0.18%	0.11%	0.35%	1.19%	1.35%	1.26%	1.38%	3.82%	4.97%
Public	47.68%	47.95%	47.39%	46.69%	47.99%	48.32%	47.79%	46.28%	44.70%	43.42%	43.35%	39.52%	45.11%