Tilaknagar Industries Limited has informed the Exchange regarding 'Unaudited Financial Results along with Limited Review Reports for the period ended December 31, 2025, which was earlier filed on February 13, 2026. The same has now been filed in machine readable format. format. Kindly note that there are no changes in the earlier intimation filed by the Company'.
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Awaiting price reaction for this filing.
Tilaknagar Industries re-filed its Q3 FY26 (quarter and nine months ended Dec 31, 2025) standalone and consolidated unaudited results in machine-readable format; there are no changes from the February 13, 2026 submission. The big story in these numbers is the completion of the Imperial Blue business acquisition from Pernod Ricard India on Dec 1, 2025 for Rs 3,442 crore (plus a deferred ~Rs 290 crore). Revenue from operations jumped ~80% YoY in Q3 to Rs 1,45,301 lakhs and ~47% for 9M to Rs 3,23,247 lakhs, largely driven by the acquired business. However, Q3 swung to a standalone loss of Rs 10,438 lakhs (vs profit of Rs 5,445 lakhs a year ago) because Rs 169.42 crore of acquisition-related costs were booked as exceptional items, and finance costs spiked 17x to Rs 3,925 lakhs on acquisition borrowings. The statutory auditor (Harshil Shah & Company) issued a qualified conclusion because the company did not perform the required impairment assessment of one of its ENA plants under Ind AS 36. The company also raised capital via a preferential issue of 1.44 crore equity shares at Rs 382 and 4.57 crore convertible warrants at Rs 382 (receiving ~Rs 1,544 crore by Dec 31).
Short-term, the headline PAT loss from one-time acquisition costs and the auditor's qualification on ENA plant impairment may keep the stock volatile and draw scrutiny over rising debt (finance costs up sharply). Over the longer term, the Imperial Blue acquisition significantly expands revenue scale, and a recent Supreme Court win in a brand ownership dispute strengthens the company's IP position — both positive for future earnings, but execution and integration risks are clearly elevated.