Latest news with #PragDistillery
Yahoo
10 hours ago
- Business
- Yahoo
Tilaknagar Industries invests in Andhra Pradesh distillery expansion
Tilaknagar Industries (TI) has invested in expanding its Prag Distillery, one of its subsidiaries located in Andhra Pradesh, India. According to the Indian spirits major, its board has approved a capital investment of Rs250m ($2.9m) to expand the distillery. Including license fees an interest payments, the total expense amounts to Rs590m. Tilaknagar currently bottles Mansion House Brandy and Mansion House Flavoured Brandy at the site, the business told Just Drinks. The planned expansion will increase Prag's existing bottling capacity from 600,000 cases to 3.6m cases per year, the business said in a statement alongside an announcement on its first quarter results for its fiscal 2026. The project is expected to be completed in 12 months, the Blue Lagoon Gin maker told this publication. Chairman and managing director of Tilaknagar Industries, Amit Dahanukar added in the statement: 'The upcoming expansion marks a significant step in our journey to strengthen our manufacturing capabilities and meet the growing demand of our globally acclaimed brands such as Mansion House Brandy and Courrier Napoleon Brandy in the state.' The company also told Just Drinks that, due to the increased capacity and its other growth plans for Andhra Pradesh, it will bottle more brands at the unit. "In essence, Prag will act as our backbone for bottling in the state," it said. When asked how the distillery would be expanded, Tilaknagar said the upcoming project "will involve a mix of new installations for augmenting capacity as well as adding space for warehousing. All possible technology interventions will be considered during the expansion." The investment was announced alongside Tilaknagar's first quarter results for the period ended 30 June, in which it reported net revenue of Rs4m, up 30.6% on the year prior. Adjusted for subsidy income, this figure rose 20.5%. Profit after tax excluding exceptional items was up 120.8% at Rs8.9m, adjusted for subsidy, this figure was up 44.5%. EBITDA also increased 88% to Rs945m. Adjusted for subsidy income, this income measure grew 25% year on year to Rs55.8m. Tilaknagar told Just Drinks it expected the expansion "to generate significant value to our growth going ahead. Not only in terms of positive financial impact but also to safeguard supply in one of the fastest growing Indian-made foreign liquor markets in India." The company added that it expects to generate a 'good amount of job opportunities at the unit" following the construction. In July, Tilaknagar struck a deal with Pernod Ricard to acquire its Imperial Blue whisky business following weeks of speculation. The deal gave the assets an enterprise value of €412.6m (then $485.4m), Tilaknagar Industries said in a stock-exchange filing at the time. "Tilaknagar Industries invests in Andhra Pradesh distillery expansion" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
3 days ago
- Business
- Business Standard
Tilaknagar Inds rallies after Q1 PAT soars 120% to Rs 89 cr
Tilaknagar Industries jumped 5.99% to Rs 500 after the company reported a 120.8% surge in consolidated net profit to Rs 88.51 crore on a 30.6% increase in revenue from operations (excluding excise duty) to Rs 409.14 crore in Q1 FY26 over Q1 FY25. Profit before tax (PBT) surged 121.1% YoY to Rs 88.62 crore during the quarter. EBITDA stood at Rs 94.5 crore in Q1 FY26, registering a growth of 88%, compared with Rs 50.2 crore in Q1 FY25. EBITDA margin was at 23.1% in Q1 FY26 as against 16% in Q1 FY25. The company registered a volume growth of 26.5% YoY, with market share improvement for TI in each of the key markets. Amit Dahanukar, chairman & managing director, said, "Q1 FY26 marked our strong and consistent industry-beating growth. We have delivered a YoY growth of 26.5% in volumes and 30.6% in net revenue. Adjusted for subsidy income of INR 38.6 crore, the net revenue growth was still robust at 20.5%. 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%. Our acquisition of the Imperial Blue business division from Pernod Ricard India is subject to CCI approval, which we expect to receive by the end of calendar year 2025. The acquisition is being made on a slump sale basis, for a lump sum consideration basis enterprise value of approximately EUR 413 mn. This includes a normalized working capital of ~EUR 70 mn and a deferred consideration of EUR 28 mn, 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 Honble Bombay High Court has upheld TIs ownership of the Mansion House and Savoy Club trademarks, ensuring continued, uninterrupted, and exclusive sale under these brands. We would also like to announce that the Board has approved an investment of INR 59 crore, including the license fees and interest payments of around Rs 34 crore for expansion at Prag Distillery, increasing the capacity from 6 lakh to 36 lakh cases p.a. Meanwhile, the companys board has approved a capital expenditure of Rs 25 crore for its wholly owned subsidiary, Prag Distillery, to expand its bottling capacity. The project will boost Prags capacity from about six lakh cases per year to 36 lakh cases per year, adding 30 lakh cases. The current facility is running at nearly 100% usage, and the expansion should be finished within the next 12 months. Tilaknagar Industries (TI) is one of Indias leading alcoholic beverage (alcobev) companies. It is engaged in the business of manufacturing and selling Indian-made foreign liquor and its related products.
Time of India
3 days ago
- Business
- Time of India
Tilaknagar Industries shares in focus as Q1 profit more than doubles on strong sales, margins
Tilaknagar Industries shares will be in focus on Tuesday after the Indian-Made Foreign Liquor (IMFL) maker reported a 121.25% year-on-year rise in net profit to Rs 88.5 crore for Q1FY26, compared to Rs 40 crore in the same period last year. Revenue from operations grew 30.7% to Rs 409 crore from Rs 313 crore. EBITDA surged 89% to Rs 94.5 crore, while the EBITDA margin expanded 700 bps to 23.1% from 16% in Q1FY25. The company said its board has approved a capital expenditure of Rs 25 crore for its wholly-owned subsidiary, Prag Distillery, to enhance its existing bottling capacity . The project will increase Prag's current capacity from approximately six lakh cases per annum to 36 lakh cases per annum, representing an incremental addition of about 30 lakh cases. The existing capacity is operating at nearly 100% utilisation. The capacity expansion is expected to be completed within 12 months. The investment will be funded through financial assistance from the holding company to Prag. According to the company, the expenditure aims to meet the growing capacity requirements in Andhra Pradesh. Tilaknagar Industries shares target price According to Trendlyne, the average target price for Tilaknagar Industries is Rs 438, indicating a potential downside of around 7% from current levels. One analyst covering the stock, the consensus rating is 'Strong Buy'. Also read: PG Electroplast plummets 35% in 5 days amid weak revenue guidance Tilaknagar Industries shares performance Tilaknagar Industries shares closed at Rs 471.7 in the previous session, up 0.6% on the BSE, while the benchmark Sensex rose 0.93%. The stock is up 70% in the last three months and has gained 141% over the past two years. The company's market capitalisation stands at Rs 9,143 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
