Please find enclosed herewith Outcome of Board Meeting held on May 29, 2026 regarding approval for re-appointment of Internal auditors and Cost auditors.
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Tilaknagar Industries board approved FY2026 audited consolidated results showing revenue of Rs. 5,24,758 Lakhs, up 68% from Rs. 3,12,098 Lakhs in FY25, driven by the Imperial Blue acquisition from Pernod Ricard completed in December 2025. However, profit before tax declined significantly to Rs. 2,058 Lakhs from Rs. 22,978 Lakhs due to exceptional items of Rs. 23,197 Lakhs (including Rs. 2,007 Lakhs acquisition-related expenses and Rs. 1,190 Lakhs for new labour codes gratuity impact). The auditors issued a qualified opinion regarding impairment assessment of an ENA plant not in operation. The board recommended a dividend of Rs. 1 per share (10%), approved re-appointment of key directors including Amit Dahanukar as Chairman & MD for 3 years, and approved incorporation of a wholly-owned subsidiary in Nigeria with up to Rs. 30 Crores investment to manufacture and distribute Imperial Blue. A scheme of amalgamation of two wholly-owned subsidiaries was also approved.
The stock shows strong revenue growth from the Imperial Blue acquisition but profitability is significantly impacted by one-time acquisition costs and regulatory charges. The qualified auditor opinion on ENA plant impairment could raise concerns about asset quality. The Nigeria expansion represents a strategic growth opportunity but adds execution risk.