Tilaknagar Industries Limited has informed the Exchange about Transcript
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Tilaknagar Industries filed the transcript of its Q4 & FY25 earnings call held on May 15, 2025. Q4 revenue grew 13.1% YoY to Rs. 406 crore while volumes rose a strong 20.1% YoY, led by recovery in Andhra Pradesh (route-to-market change now stabilized) and 25%+ growth in Karnataka following excise duty cuts. EBITDA surged 62.6% YoY to Rs. 78 crore, with margins expanding ~600 bps to 19.3% (16.6% adjusted for subsidy). Full-year FY25 revenue was Rs. 1,434 crore with PAT (ex-subsidy) at Rs. 201 crore vs Rs. 141 crore in FY24. Management guided FY26 EBITDA margins at 15.5–17% (adjusted) and revenue growth in the upper teens. The company also turned net cash positive at Rs. 107 crore (from net debt of Rs. 74 crore), declared a Rs. 1/share dividend, and flagged plans to scale up its Spaceman Spirits Lab (SSL) stake significantly with a long-term goal of majority ownership.
Strong Q4 beat with healthy margin expansion and a return to industry-leading volume growth signals a positive earnings trajectory. FY26 guidance of upper-teens revenue growth and 15.5–17% margins, combined with a net cash balance sheet and dividend, supports continued investor confidence. The strategic push into super-premium segments (whisky, gin, vodka, rum) and SSL consolidation plans add optionality for future growth.