Tilaknagar Industries Q3 Net Revenue Up 23 Per cent at Rs. 206 Crore; Net Profit at Rs. 10 Crore

71

Tilaknagar Industries Limited (BSE: 507205) (NSE: TI), one of the leading Indian-Made Foreign Liquor (IMFL) manufacturers, has reported a net profit of Rs. 10 crore for the quarter ended December 2021 as against a net loss of Rs. 3.9 crore in the corresponding quarter a year ago.

TI registered a 23 per cent increase in net revenue from operations at Rs. 206 crore in the October-December quarter 2021 as against Rs. 167.6 crore in the same period last year. Makers and promoters of the ‘Mansion House‘ brand (MHB), TI recorded a 13 per cent year-on-year jump in sales volumes in the third quarter ended December 2021. The company’s volumes grew to 18.7 lakh cases in the quarter under review from 16.5 lakh cases in the October-December period a year ago. MHB, the company’s flagship brand, also clocked a 17 per cent year-on-year growth.

Mr. Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries said, “Over the last couple of quarters, we have showcased a turnaround strategy not only in terms of net debt management but also around growth and profitability. Despite inflationary pressures across the industry, we have been able to maintain our margins on account of our regional and product mix.”

In the quarter-ended December 2021, the company’s EBITDA margins have been robust at 15.7 per cent and its debt has reduced by Rs. 55 crore since March 2021. TI’s debt has decreased to Rs. 488 crore as of December 2021 from Rs. 543 crore as of March 2021.

“The next couple of quarters look promising on account of new product launches, regional expansions and introduction of new growth avenues. The 141-crore preferential issue that we completed in the last quarter will help us in this regard,” Mr. Dahanukar added. Recently, the board of Tilaknagar Industries had approved the allotment of equity shares to investor, Lotus Family Trust and convertible warrants to two of the company’s promoter entities. In addition, the company also allotted equity shares to Edelweiss ARC for conversion of a part of the balance debt into equity.

TI operates 16 manufacturing units spread across the country with presence across all segments of the IMFL industry.

LEAVE A REPLY

Please enter your comment!
Please enter your name here