Beverages
Valuation | |
|---|---|
| Market Cap | 10.6 kCr |
| Price/Earnings (Trailing) | 64.76 |
| Price/Sales (Trailing) | 2.56 |
| EV/EBITDA | 48.78 |
| Price/Free Cashflow | 53.49 |
| MarketCap/EBT | 93.54 |
| Enterprise Value | 9.81 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 4.14 kCr |
| Rev. Growth (Yr) | 81.1% |
| Earnings (TTM) | 113.12 Cr |
| Earnings Growth (Yr) | -295.5% |
Profitability | |
|---|---|
| Operating Margin | 7% |
| EBT Margin | 3% |
| Return on Equity | 5.68% |
| Return on Assets | 4.86% |
| Free Cashflow Yield | 1.87% |
Growth & Returns | |
|---|---|
| Price Change 1W | -5% |
| Price Change 1M | -0.70% |
| Price Change 6M | -10.3% |
| Price Change 1Y | 93.4% |
| 3Y Cumulative Return | 55.8% |
| 5Y Cumulative Return | 72.3% |
| 7Y Cumulative Return | 61.5% |
| 10Y Cumulative Return | 38.1% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -76.93 Cr |
| Cash Flow from Operations (TTM) | 178.42 Cr |
| Cash Flow from Financing (TTM) | -94.41 Cr |
| Cash & Equivalents | 829.72 Cr |
| Free Cash Flow (TTM) | 171.56 Cr |
| Free Cash Flow/Share (TTM) | 8.85 |
Balance Sheet | |
|---|---|
| Total Assets | 2.33 kCr |
| Total Liabilities | 338.29 Cr |
| Shareholder Equity | 1.99 kCr |
| Current Assets | 1.84 kCr |
| Current Liabilities | 290.8 Cr |
| Net PPE | 355.68 Cr |
| Inventory | 173.12 Cr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.02 |
| Debt/Equity | 0.02 |
| Interest Coverage | 1.44 |
| Interest/Cashflow Ops | 17.51 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 1 |
| Dividend Yield | 0.23% |
| Shares Dilution (1Y) | 27.6% |
| Shares Dilution (3Y) | 35.9% |
Balance Sheet: Strong Balance Sheet.
Past Returns: Outperforming stock! In past three years, the stock has provided 55.8% return compared to 12.2% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Insider Trading: There's significant insider buying recently.
Growth: Awesome revenue growth! Revenue grew 34.6% over last year and 81.4% in last three years on TTM basis.
Momentum: Stock has a weak negative price momentum.
Technicals: SharesGuru indicator is Bearish.
Dilution: Company has a tendency to dilute it's stock investors.
Balance Sheet: Strong Balance Sheet.
Past Returns: Outperforming stock! In past three years, the stock has provided 55.8% return compared to 12.2% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Insider Trading: There's significant insider buying recently.
Growth: Awesome revenue growth! Revenue grew 34.6% over last year and 81.4% in last three years on TTM basis.
Momentum: Stock has a weak negative price momentum.
Technicals: SharesGuru indicator is Bearish.
Dilution: Company has a tendency to dilute it's stock investors.
Investor Care | |
|---|---|
| Dividend Yield | 0.23% |
| Dividend/Share (TTM) | 1 |
| Shares Dilution (1Y) | 27.6% |
| Earnings/Share (TTM) | 6.62 |
Financial Health | |
|---|---|
| Current Ratio | 6.32 |
| Debt/Equity | 0.02 |
Technical Indicators | |
|---|---|
| RSI (14d) | 35.63 |
| RSI (5d) | 25.19 |
| RSI (21d) | 48.71 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Hold |
| RSI5 Signal | Buy |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal |
Summary of Tilaknagar Industries's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management provided a positive outlook for Tilaknagar Industries, particularly following the successful integration of the Imperial Blue acquisition. Key highlights from the forward-looking statements include:
Volume Growth: Despite a forecasted low to mid-single digit volume decline for Imperial Blue in FY26 due to earlier underperformance, management expects a recovery with high-single digit to low-double digit growth for the combined business in FY27. Furthermore, they anticipate sustained low-double digit growth over the subsequent years.
Financial Performance: Management expects to achieve a consolidated EBITDA margin expansion of 150 to 250 basis points (bps) over the next 24 to 36 months for the combined business. For Imperial Blue, margins are expected to increase by 225 to 350 bps over the same timeframe.
Debt Management: Tilaknagar anticipates reducing its net debt-to-EBITDA ratio to below 1.0x by FY29. The company has taken on significant debt of Rs. 2,100 crore but plans to manage it effectively, aided by the revenue growth from the recent acquisition.
Integration Strategy: The integration of Imperial Blue is a primary focus, with operational synergies being realized through cost-saving initiatives. Management has engaged a Big 4 consultant for operational integration, aiming to transition to a TI-led operational framework by Q4 FY26.
New Product Development: They are optimistic about launching new whisky brands under the "House of TI" and enhancing the luxury segment through partnerships, specifically with Spaceman Spirits Lab.
Market Opportunity: Management emphasized access to a 200 million+ cases opportunity in the Indian Alcobev market, which aligns with their strategy to capitalize on premiumization trends.
Overall, management expressed confidence in leveraging their strengthened portfolio and distribution network to drive long-term growth and profitability.
Understand Tilaknagar Industries ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| SHIVANI AMIT DAHANUKAR | 13.34% |
| Amit Dahanukar | 11.24% |
| THINK INDIA OPPORTUNITIES MASTER FUND LP | 4.41% |
| Axana States LlP | 3.97% |
| M L DAHANUKAR AND CO PVT LTD | 3.85% |
| ARUNODAY INVESTMENTS PVT LTD | 2.89% |
| SMALLCAP WORLD FUND, INC | 2.65% |
Detailed comparison of Tilaknagar Industries against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| RADICO | Radico Khaitan | 34.93 kCr | 20.29 kCr | -7.80% | +25.80% | 67.54 | 1.72 | - | - |
| GLOBUSSPR | Globus Spirits | 2.48 kCr | 3.65 kCr |
Comprehensive comparison against sector averages
TI metrics compared to Beverages
| Category | TI | Beverages |
|---|---|---|
| PE | 64.76 | 53.73 |
| PS | 2.56 | 2.28 |
| Growth | 34.6 % | 8.7 % |
Tilaknagar Industries Ltd. engages in the manufacture and sale of Indian made foreign liquor and its related products in India. The company offers brandy under the Mansion House and Courier Napoleon brands; rum under the Madiraa brand; whisky under the Mansion House and Senate Royale brands; gin under the Blue Lagoon brand; and extra neutral alcohol. It also exports its products in Africa, the Middle East, East and South-East Asia, and Europe. The company was incorporated in 1933 and is based in Mumbai, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
TI vs Beverages (2021 - 2026)
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Question 1: Karan Kamdar from Choice Institutional Equities asked: "Now that the transaction is complete, what sort of margins are we looking at ex-IB as well as including IB and what are the prospects going ahead?"
Answer: We expect the steady-state margin of Imperial Blue before acquisition to be around 11.7%. Over the next 24 months, we anticipate a 225-350 bps increase. For the combined business, we are guiding an expansion of 150-250 bps on top of the previous margin of approximately 15%.
Question 2: Venkatesh from Alpha Investors inquired: "What will be the growth rate for the IB brand for this year and next year?"
Answer: We anticipate that for FY27, the combined business will experience high single-digit to low double-digit volume growth, followed by low double-digit growth in subsequent years. Revenue growth is expected to be about 150-200 bps above volume growth.
Question 3: Heer Gogri from Choice Equities asked: "Is Prag distilleries on track to be fully operational this quarter?"
Answer: Yes, we plan to commission the Prag distillery by the end of Q4 FY26. While we may not achieve 100% utilization immediately in Q1 FY27, we expect to reach close to full capacity throughout the year. There are minimal pending investments to complete.
Question 4: Ajay Thakur from Anand Rathi Securities questioned: "What impact are we seeing because of the MML brands?"
Answer: The introduction of the MML segment has led to a roughly 25% de-growth in the prestige category, affecting Imperial Blue. However, Imperial Blue is maintaining its market share despite the challenges arising from this new category.
Question 5: Vikrant Joshi, an Individual Investor, expressed concerns about investor opportunities. He asked: "How can we improve profitability?"
Answer: We appreciate your long-term support and assure you that our management team is focused on improving margins. This includes guiding towards margin expansions and continuing to deliver strong operational performance, particularly following the integration of Imperial Blue.
| TIMF Holdings | 2.43% |
| SOCIETE GENERALE - ODI | 2.33% |
| S S SPIRITS LLP | 2.33% |
| COHESION MK BEST IDEAS SUB-TRUST | 1.02% |
| PRIYADARSHINI A DAHANUKAR | 0.22% |
| ANUPAMA ARUN DAHANUKAR | 0.19% |
Distribution across major stakeholders
Distribution across major institutional holders
| -7.70% |
| -0.90% |
| 32.65 |
| 0.68 |
| - |
| - |
| GMBREW | G.M. Breweries | 2.24 kCr | 2.88 kCr | +0.40% | +62.40% | 13.69 | 0.78 | - | - |
| 21.2% |
| 64 |
| 53 |
| 89 |
| 77 |
| 54 |
| 58 |
| Exceptional items before tax | - | -169.42 | 0 | 0 | 0 | 0 | 0 |
| Total profit before tax | -304.9% | -105.57 | 53 | 89 | 77 | 54 | 58 |
| Current tax | - | 0 | 0 | 0 | -0.01 | 0 | 0 |
| Total tax | - | 0 | 0 | 0 | -0.01 | 0 | 0 |
| Total profit (loss) for period | -304.6% | -105.41 | 53 | 89 | 77 | 54 | 58 |
| Other comp. income net of taxes | 257.4% | 2.59 | -0.01 | -0.29 | -1 | 0.02 | -0.32 |
| Total Comprehensive Income | -299.7% | -102.82 | 53 | 88 | 76 | 54 | 58 |
| Earnings Per Share, Basic | -431.6% | -4.67 | 2.71 | 4.57 | 4.01 | 2.79 | 3.02 |
| Earnings Per Share, Diluted | -435.5% | -4.67 | 2.69 | 4.54 | 3.98 | 2.77 | 2.99 |
| -57.7% |
| 12 |
| 27 |
| 40 |
| 58 |
| 65 |
| 125 |
| Depreciation and Amortization | -3.4% | 29 | 30 | 31 | 31 | 31 | 31 |
| Other expenses | 6.3% | 2,142 | 2,016 | 1,686 | 1,284 | 1,070 | 1,120 |
| Total Expenses | 4.8% | 2,962 | 2,826 | 2,407 | 1,777 | 1,459 | 1,644 |
| Profit Before exceptional items and Tax | 57.2% | 229 | 146 | 69 | 25 | -29.25 | -146.41 |
| Exceptional items before tax | 808.7% | 10 | -0.27 | 97 | 0 | 0 | 455 |
| Total profit before tax | 64.1% | 239 | 146 | 166 | 25 | -29.25 | 309 |
| Current tax | - | -0.01 | 0 | -0.01 | -4 | -0.46 | 0.85 |
| Total tax | - | -0.01 | 0 | -0.01 | -4 | -0.46 | 0.85 |
| Total profit (loss) for period | 64.1% | 239 | 146 | 166 | 29 | -28.79 | 308 |
| Other comp. income net of taxes | -113.9% | -1.31 | -0.08 | -0.31 | -0.37 | -0.23 | -0.14 |
| Total Comprehensive Income | 63.4% | 238 | 146 | 166 | 29 | -29.02 | 308 |
| Earnings Per Share, Basic | 71.9% | 12.4 | 7.63 | 9.72 | 2.03 | -2.3 | 24.61 |
| Earnings Per Share, Diluted | 72.4% | 12.31 | 7.56 | 9.48 | 1.98 | -2.3 | 24.53 |
| 75.5% |
| 5.23 |
| 3.41 |
| 0.28 |
| 0.28 |
| 0.11 |
| 0.11 |
| Investment property | - | 0 | - | - | - | 0 | 0 |
| Non-current investments | 19.2% | 63 | 53 | 36 | 32 | 32 | 22 |
| Loans, non-current | 3708.2% | 36 | 0.03 | 0 | 0.12 | 0.11 | 0.13 |
| Total non-current financial assets | 17.5% | 135 | 115 | 62 | 58 | 57 | 48 |
| Total non-current assets | 5.2% | 505 | 480 | 441 | 447 | 460 | 458 |
| Total assets | - | - | 1,230 | - | - | - | - |
| Total assets | - | - | 1,230 | - | - | - | - |
| Total assets | 90.9% | 2,347 | 1,230 | 1,172 | 1,040 | 1,031 | 1,005 |
| Borrowings, non-current | -60.1% | 4.99 | 11 | 45 | 63 | 130 | 24 |
| Total non-current financial liabilities | -30.5% | 42 | 60 | 101 | 120 | 190 | 90 |
| Provisions, non-current | 8.6% | 4.53 | 4.25 | 3.73 | 3.4 | 3.28 | 3.07 |
| Total non-current liabilities | -28.1% | 47 | 65 | 105 | 123 | 193 | 93 |
| Borrowings, current | 33.3% | 41 | 31 | 46 | 55 | 57 | 228 |
| Total current financial liabilities | 7.6% | 227 | 211 | 268 | 220 | 229 | 381 |
| Provisions, current | 27.5% | 52 | 41 | 33 | 23 | 29 | 34 |
| Current tax liabilities | - | 0 | - | - | - | - | 0 |
| Total current liabilities | 9.5% | 288 | 263 | 311 | 252 | 267 | 426 |
| Total liabilities | - | - | 327 | - | - | - | - |
| Total liabilities | - | - | 327 | - | - | - | - |
| Total liabilities | 2.5% | 335 | 327 | 416 | 376 | 460 | 519 |
| Equity share capital | 7.3% | 208 | 194 | 193 | 193 | 192 | 185 |
| Total equity | 122.9% | 2,012 | 903 | 756 | 664 | 571 | 486 |
| Total equity and liabilities | 90.9% | 2,347 | 1,230 | 1,172 | 1,040 | 1,031 | 1,005 |
| -214.5% |
| -0.5 |
| 2.31 |
| 0.3 |
| -4.76 |
| - |
| - |
| Net Cashflows From Operating Activities | 50.9% | 176 | 117 | 84 | 78 | - | - |
| Cashflows used in obtaining control of subsidiaries | - | 0 | 0 | 0 | 16 | - | - |
| Proceeds from sales of PPE | - | 0 | 0 | 0.01 | 0.03 | - | - |
| Purchase of property, plant and equipment | -13.2% | 5.86 | 6.6 | 9.59 | 3.29 | - | - |
| Proceeds from sales of investment property | -13.7% | 102 | 118 | 0 | 0 | - | - |
| Purchase of investment property | 12.8% | 107 | 95 | 0 | 0 | - | - |
| Interest received | 71.9% | 3.39 | 2.39 | 2.5 | 1.81 | - | - |
| Other inflows (outflows) of cash | -169.2% | -55.77 | -20.09 | -12.21 | -25.3 | - | - |
| Net Cashflows From Investing Activities | -471.7% | -74.69 | -12.24 | -19.29 | -42.75 | - | - |
| Proceeds from issuing shares | -81.9% | 5.53 | 26 | 198 | 92 | - | - |
| Proceeds from exercise of stock options | -120% | 0 | 6.01 | 0 | 0 | - | - |
| Proceeds from borrowings | -100.4% | 0.5 | 141 | 23 | 76 | - | - |
| Repayments of borrowings | -70.8% | 80 | 272 | 249 | 124 | - | - |
| Payments of lease liabilities | 21.6% | 0.71 | 0.63 | 0.53 | 0.52 | - | - |
| Dividends paid | 125.4% | 9.61 | 4.82 | 1.61 | 0.12 | - | - |
| Interest paid | -62.5% | 10 | 25 | 0 | 57 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | -37.31 | 0 | - | - |
| Net Cashflows from Financing Activities | 26.5% | -94.41 | -128.74 | -67.45 | -12.44 | - | - |
| Net change in cash and cash eq. | 125.5% | 7.41 | -24.13 | -2.43 | 23 | - | - |