Tilaknagar Industries Q2 FY27 Results: Revenue Surges 173% to ₹1,035 Cr, PAT Up 30%
Tilaknagar Industries reported Q2 FY27 results with consolidated volumes up 160% YoY to 8.9 mn cases. Net revenue surged 173% to ₹1,035 crore, and PAT (adjusted) rose 26% to ₹66 crore. For H1 FY27, revenue grew 180% to ₹2,059 crore, and PAT (adjusted) increased 39% to ₹142 crore. The company also made a strategic investment in tequila brand Bodega Suprema No. 5.
The substantial percentage increases in revenue and profit, coupled with market share gains and strategic expansion into new categories like tequila, are highly material for investors and indicate a significant positive shift in the company's financial standing and market position.
The company reported significant year-on-year growth in revenue, volumes, EBITDA, and PAT for both the quarter and half-year periods, indicating strong operational performance and market gains.
Tilaknagar Industries Limited (TI) announced its financial results for the quarter ended September 30, 2026, reporting a significant year-on-year (YoY) growth across key metrics.
Consolidated performance for Q2 FY27 showed a substantial increase in volumes, growing by 160% YoY to 8.9 million cases. Net revenue from operations reached ₹1,035 crore, a 173% YoY increase from ₹380 crore. Adjusted for subsidy, net revenue stood at ₹1,033 crore, up 172%. EBITDA grew by 146% to ₹148 crore (₹146 crore adjusted for subsidy), with a margin of 14.1%. Profit After Tax (PAT), excluding exceptional items and amortization, increased by 30% to ₹68 crore, or ₹66 crore adjusted for subsidy, marking a 26% YoY growth.
For the half-year ended September 30, 2026 (H1 FY27), consolidated volumes grew by 166% YoY to 17.6 million cases. Net revenue from operations was ₹2,081 crore (₹2,059 crore adjusted for subsidy), an increase of 169% (180% adjusted). EBITDA grew by 105% to ₹317 crore (₹295 crore adjusted), with a margin of 14.3%. PAT increased by 17% to ₹165 crore, or ₹142 crore adjusted for subsidy, reflecting a 39% YoY growth.
Mr. Amit Dahanukar, Chairman & Managing Director, commented on the integration progress, noting that states transitioning out of TSMA have been stabilized, with the last state expected to transition by the end of FY27. He highlighted robust secondary volume growth of 8% QoQ, with Imperial Blue secondaries growing at 8.5%. Imperial Blue further strengthened its position with a Pan-India market share gain of 100 basis points (bps) or more during the quarter. While NSR per case moderated slightly due to state mix, future growth is expected from favorable mix, price increases, and new launches from FY28 onwards. Dahanukar also addressed inflationary pressures on packaging inputs and ENA prices, stating that cost optimization initiatives are helping protect margins. Marketing initiatives included showcasing Mansion House Brandy and Monarch Legacy Edition Brandy in Times Square, New York City, and launching an ATL campaign for Imperial Blue Packaged Drinking Water.
Other developments include Tilaknagar Industries entering the tequila category through a strategic investment in Black Tiger Distilleries, makers of Bodega Suprema No. 5. The company's luxury portfolio is now present in 9 markets and is set to expand further in FY27. Mansion House Brandy emerged as the #1 brandy in Karnataka in September 2026, and Imperial Blue gained market share in 17 states on a QoQ basis.
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