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IMFL Maker Tilaknagar Industries Profit After Tax jumps 20.9% in Q4, Revenue Increases to Rs 358.8 Crore

Posted On : 2024-05-22 11:30:12( TIMEZONE : IST )

IMFL Maker Tilaknagar Industries Profit After Tax jumps 20.9% in Q4, Revenue Increases to Rs 358.8 Crore

Leading Indian-Made Foreign Liquor (IMFL) manufacturer, Tilaknagar Industries Limited (TI) (BSE: 507205) (NSE: TI) has reported a 20.9 per cent increase in its Net Profit (excluding exceptional items) at Rs 39.5 crore in the quarter ended March 2024 as against Rs 32.7 crore in the corresponding period a year ago.

Maker of the Mansion House Brand - India's largest and world's second-largest selling brandy, Tilaknagar Industries recorded a rise in revenue to Rs 358.8 crore in the January-March 2024 quarter as against Rs 357.4 crore in the same period a year ago.

Mr Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries said,"FY24 has been a year of consolidating our brandy leadership through a steady mix of market share gains by our mature brands like Mansion House Brandy and Courrier Napoleon Brandy, and growth in recently launched brands like Flandy. Our premium brandy brand, Mansion House Reserve, which is sold only in Tamil Nadu, registered a more than 2x growth in volumes in FY24, gaining market share in the relevant segment in the state by more than 300 basis points. We continued to grow faster than overall IMFL industry, as well as in 'Prestige & Above' segments."

The company's Earnings Before Interest Tax Depreciation and Amortization (EBITDA) improved by 10.9 per cent to Rs 48.2 crore in the quarter under review as against Rs 43.5 crore in the year-ago period. Tilaknagar Industries' EBITDA margin improved by 128 basis points (bps), standing at 13.4 per cent in the quarter ended March 2024 as against 12.2 per cent in the corresponding period a year ago.

In the quarter ended March 2024, the company's sales volumes increased to 28.5 lakh cases as against 28.4 lakh cases in the same period last year.

"FY24 was the second consecutive year in which we were India's fastest growing IMFL company of scale. All this has been possible due to a clear strategic drive of focusing on brandy category seeding and meeting need gaps across premium price points in brandy, through a combination of well thought out marketing strategies and product launches", Mr Dahanukar added.

In the financial year ended March 2024, Tilaknagar Industries emerged as the fourth- largest IMFL company and the third largest Prestige and Above player in the key state of Telangana. The company continued to gain market share in another key state, Puducherry, where it has a more than 25 per cent share of entire IMFL industry, registering a more than 500 bps growth in market share.

In addition, Tilaknagar Industries, in FY24, gained more than 100 bps market share in its top five states of Telangana, Andhra Pradesh, Karnataka, Puducherry and Kerala which contribute more than 80 per cent to its volumes and approximately 40 per cent of total India IMFL volumes. This increase in market share has been on account of gains within brandy as well as taking share from other categories.

As on 31st March 2024, the company's gross and net debt stood at Rs. 119 crore and Rs 74 crore, respectively. In FY24, Tilaknagar Industries reduced its gross debt by more than Rs 130 crore. The company aims to be net-debt free over the course of FY25. Additionally, the Company has also seen a reduction in interest rate on Kotak loan from 13 per cent to 9.95 per cent, effective mid Q1 FY25.

For FY24, the company also declared a dividend of Rs. 0.50 per share. This is on the back of dividend declared in FY22 and FY23 of Rs. 0.10 and Rs. 0.25 per share respectively.

Shares of Tilaknagar Industries Limited was last trading in BSE at Rs. 242.60 as compared to the previous close of Rs. 233.90. The total number of shares traded during the day was 52898 in over 1592 trades.

The stock hit an intraday high of Rs. 243.75 and intraday low of 232.65. The net turnover during the day was Rs. 12749537.00.

Source : Equity Bulls


TilaknagarIndustries INE133E01013 Q4FY24 FY2024 ResultUpdate FY24