Latest news with #Dahanukar
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Business Standard
12-08-2025
- Business
- Business Standard
Tilaknagar Industries rallies 7% post Q1 nos; should you buy, sell or hold?
Tilaknagar Industries share price: Tilaknagar Industries share price was buzzing in trade on Tuesday, August 12, 2025, with the scrip rising as much as 8.45 per cent to an intraday high of ₹511.65 per share. At 10:10 AM, Tilaknagar Industries share price was trading 6.86 per cent higher at ₹504.10 per share. In comparison, BSE Sensex was trading 0.43 per cent higher at 80,948.63 levels. Why did Tilaknagar Industries share price rise today? Tilaknagar Industries share price rose on the back of strong June quarter of financial year results (Q1FY26). Tilaknagar Industries reported its highest-ever quarterly Ebitda in Q1FY26, with a strong net cash position of ₹163 crore as of June 2025. Its revenue rose 30.6 per cent year-on-year (Y-o-Y) to ₹409.1 crore from ₹313.2 crore, supported by a 26.5 per cent Y-o-Y volume growth and market share gains across key markets. Even after adjusting for a ₹38.6 crore subsidy income, revenue growth stood at 20.5 per cent. At the operating level, Ebitda surged 88 per cent to ₹94.5 crore from ₹50.2 crore; excluding subsidy income, it came in at ₹55.8 crore, marking a 25 per cent Y-o-Y increase. Ebitda margin improved 55 basis points (bps) to 15.1 per cent, compared with 14.5 per cent last year. The company's profit after tax (excluding exceptional items) soared 120.8 per cent to ₹88.5 crore from ₹40.1 crore; excluding subsidy, PAT rose 44.5 per cent Y-o-Y. Reported diluted EPS stood at ₹4.54 per share. The Board also approved investment of ₹59 crore, including the licence fees and interest payments of around ₹34 crore for expansion at Prag Distillery, increasing the capacity from 6 lakh to 36 lakh cases p.a.' Amit Dahanukar, chairman and managing director, said, 'Q1FY26 marked our strong and consistent industry beating growth. We have delivered a Y-o-Y growth of 26.5 per cent in volumes and 30.6 per cent in net revenue. Adjusted for subsidy income of ₹38.6 crore, the net revenue growth was still robust at 20.5 per cent. The Southern region has seen strong growth momentum in Q1 with market share improvement in each of the key markets. Our Ebitda (excluding subsidy income) has grown by 25.0 per cent.' Dahanukar added, 'Our acquisition of the Imperial Blue business division from Pernod Ricard India is subject to CCI approval, which we expect to receive by end of calendar year 2025. The acquisition is being made on a slump sale basis, for a lump sum consideration basis enterprise value of ~Euro 413 million. This includes a normalised working capital of ~Euro 70 mn and a deferred consideration of Euro 28 million, payable at the end of 4 years, i.e. in FY30. The consideration would be subject to certain closing adjustments. Additionally, during the quarter, the Hon'ble Bombay High Court has upheld TI's ownership of Mansion House and Savoy Club trademarks ensuring continued, uninterrupted and exclusive sale under these brands.' What analysts' suggest? According to Ravi Singh, SVP of retail research at Religare Broking, Tilaknagar Industries has been trading in an uptrend since April. Recently, the stock gave a breakout above its all-time high of ₹460. On the daily charts, it is showing strong upside momentum, supported by a notable volume spike, and remains positive toward the ₹600 level if it sustains above the ₹515–₹520 zone. With the RSI at 67, continued trading at higher levels with strong volumes could unlock further upside potential. 'Accordingly, investors and traders are advised to buy above ₹515 for a target of ₹600-₹620, with a strict stop loss placed below ₹465,' Singh suggested. 'Tilaknagar Industries has rallied 50 per cent in the past month, rising from its July 11 low of ₹337,' said Sudeep Shah, vice president of technical research at SBI Securities. 'The stock took support from its 20-DEMA in the ₹460-465 zone and opened with a sharp gap-up today. On July 29, it hit a high of ₹524, with RSI peaking at 89 before cooling to 60. After minor profit booking, it attempted to retest the ₹524 level but faced resistance at ₹520, triggering another round of selling. At that point, the ADX peaked at 70.75, indicating an overbought zone.' Shah added, 'The ₹520-525 range remains a key resistance. A decisive close above this could extend the rally toward ₹555-560. However, if the stock falls below ₹490, it may fill the gap to ₹476 and even slide to ₹460, where the next support lies. Traders should exercise caution before taking fresh long positions at current levels.' About Tilaknagar Industries Tilaknagar Industries, one of India's leading alcoholic beverage companies, boasts a legacy of over 90 years. Established in 1933 by Mahadev L Dahanukar as Maharashtra Sugar Mills, the company has evolved into a key player in the India Made Foreign Liquor (IMFL) segment, with 21 manufacturing units across 12 states. Its portfolio spans multiple categories, led by two 'Millionaire' brandy labels – Mansion House and Courrier Napoleon – alongside popular offerings in whisky, rum, and gin such as Mansion House Whisky, Madiraa Rum, and Blue Lagoon Gin. The company has also entered the premium space with Monarch Legacy Edition brandy and holds strategic stakes in Spaceman Spirits Lab (Samsara Gin, Sitara Rum, Amara Vodka) and Round The Cocktails (Bartisans cocktail mixers). In FY25, Tilaknagar Industries recorded sales volumes of 11.91 million cases.
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Business Standard
23-07-2025
- Business
- Business Standard
Tilaknagar Industries to acquire Imperial Blue business for 412.6 mn euro
Tilaknagar Industries has entered into a definitive agreement to acquire the Imperial Blue business division from Pernod Ricard India via slump sale for a lump-sum consideration based on an enterprise value of 412.6 million euro (approximately Rs 4,150 crore as on date), the company said in a stock exchange filing. The consideration includes a deferred payment of 28 million euro (approximately ₹282 crore as on date), to be paid four years after the closure of the transaction. The proposed transaction includes the acquisition of the Imperial Blue brand, which recorded sales of 22.4 million 9-litre cases for the year ended March 2025 across India and other markets. It also includes two owned units and services from co-manufacturing bottlers across India, the filing said. The transaction is subject to approval from the Competition Commission of India, with closure anticipated in about six months from the signing of the definitive agreement. Tilaknagar Industries will raise a mix of debt and equity to finance the acquisition. Imperial Blue will act as Tilaknagar Industries' launchpad for a significant whisky premiumisation journey, enabling the company to build a strong whisky portfolio across premium price points. 'We're excited to build on Imperial Blue's strong foundation and take it to new heights,' Dahanukar added. Imperial Blue is the third-largest whisky brand in India by volume, with over 25 years of brand heritage. The underlying business reported revenue of Rs 3,067 crore for the year ended March 2025, the company said in its release. 'This landmark acquisition, the largest in the Indian alcoholic beverages space by an Indian company, fast-tracks Tilaknagar Industries' foray into the whisky segment, the largest IMFL (Indian Made Foreign Liquor) category in India. It also significantly expands Tilaknagar Industries' distribution reach, reinforcing its evolution into a truly pan-India player with strong scale across both brandy and whisky, with a combined volume of 34 million 9-litre cases for the year ended March,' the filing added.
Time of India
04-06-2025
- Business
- Time of India
Brandy boss Tilaknagar eyes Imperial Blue in $600 million whisky chase
Tilaknagar Industries , the maker of Mansion House and Courrier Napoleon brandies , is the frontrunner in the race for the Imperial Blue whisky brand being sold by the French alcobev major Pernod Ricard , people familiar with the matter told ET. The brand has an estimated enterprise value of up to $600 million, and a deal will mean the largest M&A in India's liquor industry in more than a decade after Diageo 's buyout of United Spirits in 2013 for $1.9 billion. Inbrew Beverages , established by London-based serial entrepreneur Ravi Deol, is also in the reckoning. However, Pernod Ricard has found Tilaknagar's offer to be better, the people said, though Inbrew is not completely out of the running. As preferred party, Tilaknagar, which is India's fifth-largest alcoholic beverage firm by market cap, has been asked to submit a binding bid by June 23, the people said. Adding shine to brand, expanding portfolio Any potential deal will be financed through a combination of internal accruals, bank borrowings and private equity funding, they added. Japan's Suntory Holdings, owner of Jim Beam and Maker's Mark whiskies, initially showed interest in Imperial Blue but decided not to pursue the deal, they added. For homegrown Tilaknagar, led by Amit Dahanukar, a successful acquisition of Imperial Blue would help expand its brand as well as non-brandy portfolio. While brandy is a dominant category in Tilaknagar's portfolio, the company forayed into whisky in 2012, leveraging flagship brand Mansion House. However, more than 90% of its sales still comes from brandy. During its earnings call on May 21, chairman and managing director Dahanukar said Tilaknagar will focus on enhancing its presence within brandy and other Indian made foreign liquor (IMFL) categories through its own brands and strategic investments. Tilaknagar Industries has earlier acquired Round The Cocktails, Spaceman Spirits and Incredible Spirits. 'We regret we are unable to comment on the subject,' Dahanukar said in response to ET's query on the proposed deal. Imperial Blue ranks as the eighth bestselling whisky worldwide. In 2023, it sold 22.8 million nine-litre cases, according to Drinks International Millionaires' Club. Although these numbers are strong, sales are down from 2019, when it sold 26.3 million nine-litre cases. Imperial Blue was introduced in India by Canadian distiller Seagram in 1997. In 2001, Seagram sold its global business to Pernod Ricard and Diageo. The French company then took over the Indian business. In 2002, Pernod Ricard relaunched Imperial Blue with the advertising slogan 'men will be men.' Its success has grown year on year, making it Pernod Ricard's largest brand by volume, according to the company's website. Much of its success is credited to its memorable advertising line, which created a strong following in India. Selling Imperial Blue marks a change in focus for Pernod Ricard in the region. It aims to grow its premium brands like Glenlivet, Jameson and Chivas Regal. 'Pernod Ricard regularly reviews strategic options for its development, including its brand/business portfolio," said a company spokesperson, while declining to comment on the proposed deal. This move mirrors how UK drinks company Diageo sold 32 low-margin Indian brands, such as Haywards, Old Tavern, White Mischief, Honey Bee, Green Label and Romanov, in 2022 for ₹820 crore. The brands were bought by Deol's Inbrew. Deol is famous for starting Barista Coffee in 1999, which made him known as India's coffee man. By acquiring a stake in Imperial Blue, Inbrew aims to become one of the leading players in the industry. The company could not be reached for immediate comment. People aware of developments said Imperial Blue's valuation, among other factors, is also compared with listed drinks companies' valuations, which are 20–30 times operating profits. When estimating the value of a target asset, the discounted cash flow method is also used. This method values an investment by considering future cash flows.
Mint
24-04-2025
- Science
- Mint
‘Beyond Face Value': What French banknotes tell us about history
At an ongoing exhibition at the National Gallery of Modern Art, Mumbai, one can see a banknote for 500 Francs issued in 1994 in which the figure of scientist Marie Curie is right in the centre. Her husband and fellow scientist, Pierre, is shown standing just a little behind her. The two of them shared the Nobel Prize for physics in 1903, after which Marie went on to win her second Nobel for chemistry in 1911. Researcher-curator Rukmini Dahanukar finds it commendable that France honoured the Polish-born scientist, who later became a naturalised French citizen, with a banknote. 'The note acknowledges a woman scientist and puts her at the forefront like she deserves. Also, the choice of the colour depicts radioactivity," says Dahanukar, who has put together the show, Beyond Face Value: French Banknote Design from Around the World. The exhibition is a collaboration between the NGMA and Alliance Française de Bombay, and this particular banknote is one of the 25 being showcased from Dahanukar's private collection. 'French banknotes from across the globe are more than just monetary instruments—they are artistic masterpieces imbued with history, culture, and symbolism," states the gallery note. 'With their intricate designs, romanticism, and craftsmanship, these banknotes transcend their face value, offering a glimpse into a fascinating and often overlooked aspect of cultural heritage." Dahanukar's interest in this field of study came about while she was looking for a subject for her thesis while pursuing Masters in Communications from California State University. 'I wrote my thesis on the launch of the Euro, the loss of identity and the creation of a new transnational identity," she shares. This interest is not new. Nearly two decades ago, she started collecting banknotes and now has a collection of 4,000. 'There is so much to discover in these banknotes—from history to art, design, communication, propaganda, representation and more," she says. Also read: 'Signed, Lower Right': Devraj Dakoji's tryst with printmaking Dahanukar is currently writing a book on the subject. The current exhibition came together after a discussion with Laurent Vergain, director, Alliance Française de Bombay. 'For me, banknotes are not just tools of commerce; they are reflections of the times, values, and artistic expressions of a nation. This exhibition is an opportunity for all history and art enthusiasts to explore a slice of Francophone culture and expression before the emergence of the Euros," he says. The exhibition has travelled to Puducherry, Ahmedabad and Delhi before arriving in Mumbai, where large-size banknote replicas have been showcased next to their real size prints. Some real banknotes are on display as well. '20 years ago, when I had proposed my dissertation topic, one of my professors had remarked that banknotes are the most exchanged artwork in the world and hardly anyone talks about that," says Dahanukar. The exhibition is on till 24 April at the NGMA, Mumbai, from 10 am to 6 pm. Also read: Aamir Aziz, Anita Dube and the hypocrisy of political art
