Tilaknagar Industries Limited has informed the Exchange about Investor Presentation
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Tilaknagar Industries shared its Q3 & 9M FY26 earnings presentation, dominated by the completion of the Imperial Blue (IB) acquisition from Pernod Ricard on November 30, 2025 for a total consideration of INR 3,550 crores. Consolidated Q3 FY26 revenue nearly doubled to INR 664 crores (up 95% YoY) while EBITDA stood at INR 90 crores (14.0% margin, subsidy-adjusted) — IB alone contributed 17.9 lac cases in its first month under TI ownership. The existing (ex-IB) business grew 16.8% in volumes during the quarter, showing the core remains healthy. The acquisition was largely debt-funded, pushing gross debt from INR 47 cr to INR 2,148 cr, with a 6-year term loan carrying 10-11% interest and a 2-year principal moratorium. Management laid out a clear roadmap: 150-250 bps consolidated EBITDA margin expansion over 24-36 months, 225-350 bps margin improvement on the IB business, and reducing Net Debt/EBITDA to below 1.0x by FY29.
This is a transformational moment for shareholders — TI has shifted from a southern-focused brandy player to a pan-India IMFL major with two of the country's biggest spirits brands. Near-term, high interest costs and integration spend will weigh on reported earnings (Q3 reported PAT was negative INR 105 cr after INR 169 cr of exceptional items), but the multi-year deleveraging and margin expansion targets provide a clear re-rating path if execution stays on track.