Tilaknagar Industries Limited has informed the Exchange about Investor Presentation
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Tilaknagar Industries (TI) has submitted an investor presentation detailing its acquisition of Pernod Ricard India's Imperial Blue (IB) whisky business for a lump sum enterprise value of €412.6 million (approximately INR 4,150 crore), including ~INR 700 crore working capital and ~INR 282 crore deferred consideration payable in FY30. Imperial Blue is the 3rd largest whisky brand in India with ~9% volume share, INR 3,067 crore LTM revenue, and 22.4 million cases sold across 27 states. Post-acquisition, TI's combined annual sales will exceed 34 million cases, with whisky becoming 67% of revenue, brandy 31%, and others 2%. The deal will be funded through a mix of debt and equity, with closing expected within six months subject to CCI approval.
This is the largest acquisition in the Indian alcoholic beverage space by an Indian company and represents a transformational move for TI, shifting it from a South-focused brandy player to a pan-India spirits major. Shareholders should view this as a significant growth catalyst, though it will involve increased leverage initially before the targeted Net Debt/EBITDA reduction to below 1.0x by FY29 and expected cash EPS accretion.