Tilaknagar Industries (TI) announced its Q2 FY27 results, showcasing robust financial performance. The company reported a 26% year-on-year increase in adjusted profit after tax (PAT) to ₹66 crore, driven by a substantial 160% volume growth to 8.9 million cases. Net revenue also saw a significant jump of 172% to ₹1,033 crore. This growth was primarily fueled by strong performance in key brands like Imperial Blue and Mansion House Brandy.
Q2 FY27 Financial Highlights
Tilaknagar Industries (TI) has released its financial results for the second quarter of Fiscal Year 2027 (Q2 FY27), reporting significant year-on-year growth across key financial metrics. The company’s adjusted profit after tax (PAT) witnessed a substantial increase of 26%, reaching ₹66 crore for the quarter ended September 30, 2026. This surge in profitability was supported by a strong expansion in sales volumes.
Volume and Revenue Surge
TI recorded an impressive 160% year-on-year growth in volume, with total sales reaching 8.9 million cases during Q2 FY27. This considerable increase in volume directly contributed to a robust rise in net revenue from operations, which grew by 172% to stand at ₹1,033 crore. The company also noted that secondary volumes saw a 7.8% increase on a quarter-on-quarter (QoQ) basis.
Brand Performance and Market Share
Imperial Blue (IB) and Mansion House Brandy (MHB) were key drivers of this performance. Imperial Blue grew by 8.5% QoQ, while Mansion House Brandy saw a 7.1% QoQ increase. Notably, Tilaknagar Industries announced that Imperial Blue gained over 100 basis points in market share in Q2 FY27 compared to Q1 FY27, with gains reported across 17 states. The company’s primary volumes remained steady, while secondary volumes demonstrated strong growth.
EBITDA and Margin Performance
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also showed strong growth, increasing by 143% to ₹146 crore on an adjusted basis. The reported EBITDA margin stood at 14.1%. Excluding inflationary pressures, the margin would have been approximately 16.5%. Gross margins were under pressure due to inflationary trends in packaging inputs and rising ENA prices, but the company’s cost optimization initiatives helped mitigate some of these impacts.
Half-Yearly Performance
For the first half of FY27 (H1 FY27), Tilaknagar Industries reported a consolidated volume of 17.6 million cases, a growth of 166% year-on-year. Net revenue for H1 FY27 rose by 180% to ₹2,059 crore, with adjusted EBITDA growing by 154% to ₹295 crore. Adjusted PAT for H1 FY27 increased by 39% to ₹142 crore.
Strategic Outlook
The company’s Chairman & Managing Director, Mr. Amit Dahanukar, highlighted the successful stabilization of states transitioned under TSMA and progress towards full integration by end of FY27. He also emphasized continued focus on delivering profitable growth for Imperial Blue and Mansion House, accelerating the luxury and super-premium portfolio, and leveraging the distribution network for new product introductions.
Other Developments
In other developments, Tilaknagar Industries has entered the tequila category through a strategic investment in Black Tiger Distilleries. The company’s luxury portfolio is now present in 9 markets and is planned for expansion to more markets in FY27. Mansion House Brandy has emerged as the #1 brandy in Karnataka as of September 2026.
Source: BSE
