Net revenue

Tilaknagar Industries Q3 net revenue up 23% to Rs. 206 Crore net profit to Rs. 10 crore

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Mumbai, Maharashtra, India (NewsView)

Tilaknagar Industries Limited (BSE:507205) (NSE:TI), one of India’s leading manufacturers of foreign liquors made in India (IMFL), reported a net profit of Rs. 10 crore for the quarter ended December 2021 vs. a net loss of Rs. 3.9 crores in the corresponding quarter a year ago.

TI recorded a 23% increase in net operating income to Rs. 206 crore in the October to December quarter 2021 from Rs. 167.6 crore in the same period last year. Manufacturers and promoters of the ‘Mansion House’ (MHB) brand, TI recorded a 13% increase in sales volumes year-on-year in the third quarter ended December 2021. The company’s volumes increased to 18.7 lakh cases during the quarter under review. of 16.5 lakh cases during the October-December period a year ago. MHB, the company’s flagship brand, also saw 17% year-over-year growth.

Mr. Amit Dahanukar, President and CEO of Tilaknagar Industries, said: “Over the past two quarters, we have presented a turnaround strategy not only in terms of net debt management, but also in terms of growth and profitability. Despite inflationary pressures in the industry, we were able to maintain our margins thanks to our regional and product mix.

In the quarter ended December 2021, the company’s EBITDA margins were strong at 15.7% and its debt was reduced by Rs. 55 crore since March 2021. TI’s debt decreased to Rs. 488 crore in December 2021 from Rs. 543 crore in March 2021.

“The next two quarters look promising due to new product launches, regional expansions and the introduction of new growth avenues. The preferential issuance of 141 crores that we made in the last quarter will help us in this regard,” added Mr. Dahanukar. Recently, the board of directors of Tilaknagar Industries had approved the allocation of shares to investor Lotus Family Trust and convertible warrants to two of the company’s sponsor entities. In addition, the company also granted equity shares to Edelweiss ARC for the conversion of part of the debt balance into equity.

TI operates 16 manufacturing units across the country with a presence in all segments of the IMFL industry.