Please find enclosed outcome of Board Meeting held on May 29, 2026.
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Tilaknagar Industries Ltd reported FY2025-26 consolidated revenue of Rs 5,24,757.61 lakhs (vs Rs 3,12,098.23 lakhs in FY24-25), representing approximately 68% YoY growth driven by the Imperial Blue acquisition from Pernod Ricard India completed on December 1, 2025 for Rs 3,442 crores plus Rs 290 crores deferred consideration. However, profit after tax declined sharply to Rs 2,087.02 lakhs (vs Rs 22,959.29 lakhs) due to exceptional items of Rs 23,196.55 lakhs comprising acquisition-related costs (Rs 22,006.72 lakhs) and gratuity impact under new labour codes (Rs 1,189.83 lakhs). The statutory auditors issued a qualified opinion regarding non-assessment of impairment for an idle ENA plant under Ind AS 36. The Board also approved a scheme to amalgamate two wholly-owned subsidiaries (Punjabexpo Breweries and Vahni Distilleries), incorporation of a wholly-owned subsidiary in Nigeria (up to Rs 30 crores capital), and re-appointed key directors including Amit Dahanukar as CMD for 3 years. A dividend of Rs 1 per share (10%) was recommended.
Despite strong revenue growth from the Imperial Blue acquisition, profitability declined significantly due to large exceptional items. The auditor's qualified opinion on ENA plant impairment and pending amalgamation scheme with subsidiary companies warrant shareholder attention. The Nigerian expansion signals strategic growth ambitions.