Tilaknagar Industries Q2 FY27 Results: Consolidated Net Profit ₹22.30 Crore on Total Income of ₹2,438 Crore
Earnings
Alcoholic beverages (IMFL)
Blacklitt Research3 min read
Tilaknagar Industries (NSE: TI) reported total income of ₹2,438.33 crore and a net profit of ₹22.30 crore on a consolidated basis for the quarter ended 30 Sep 2026, and total income of ₹2,439.48 crore and a net profit of ₹23.14 crore standalone, it said in a filing on 30 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹2,438.33 crore, up 171.2% YoY and 8.0% QoQ
Net profit: ₹22.30 crore, down 57.9% YoY and 29.2% QoQ; EPS ₹0.90
Finance costs: ₹69.28 crore against ₹2.10 crore a year earlier
Standalone
The company on its own, without its subsidiaries
Total income: ₹2,439.48 crore, up 171.2% YoY and 8.0% QoQ
Net profit: ₹23.14 crore, down 56.6% YoY and 30.6% QoQ; EPS ₹0.93
Finance costs: ₹69.28 crore against ₹2.10 crore a year earlier
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,438.33
899.07
+171.2%
2,256.96
+8.0%
Revenue from operations
2,437.56
896.92
+171.8%
2,252.42
+8.2%
Other income
0.77
2.15
-64.0%
4.54
-82.9%
22.30
52.91
-57.9%
31.49
-29.2%
Profit before tax
22.30
52.91
-57.9%
31.49
-29.2%
Finance costs
69.28
2.10
n/a
66.36
+4.4%
Depreciation
46.22
7.34
+529.5%
45.49
+1.6%
Tax expense
0.00
0.00
n/a
0.00
n/a
Net profit margin
0.91%
5.89%
-4.97 pp
1.40%
-0.48 pp
EPS, basic (₹)
0.90
2.71
-66.8%
1.28
-29.7%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Income rose far faster than profit.
Revenue from operations of ₹2,437.56 crore accounts for almost all of the income. Finance costs of ₹69.28 crore are 2.8% of total income, against ₹2.10 crore a year earlier, and depreciation rose to ₹46.22 crore from ₹7.34 crore. The filing does not explain the rise in finance costs or depreciation.
Exceptional items of ₹10.95 crore for the quarter are integration costs of the Imperial Blue business bought from Pernod Ricard India Private Limited, which the company says are not expected to recur in the ordinary course of business. The acquisition was completed on 1 Dec 2025 for a lump-sum cash consideration of ₹3,442 crore, with deferred consideration of EUR 28 million (about ₹290 crore) payable after four years.
The company expects to restart the grain distillery plant after incurring relevant capital expenditure and says there is no impairment. The filing does not state the amount or timing of that capital expenditure.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,439.48
899.65
+171.2%
2,257.93
+8.0%
Revenue from operations
2,437.56
896.92
+171.8%
2,252.37
+8.2%
Other income
1.92
2.72
-29.6%
5.55
-65.5%
23.14
53.34
-56.6%
33.34
-30.6%
Profit before tax
23.14
53.34
-56.6%
33.34
-30.6%
Finance costs
69.28
2.10
n/a
66.36
+4.4%
Depreciation
45.54
6.92
+558.1%
45.05
+1.1%
Tax expense
0.00
0.00
n/a
0.00
n/a
Net profit margin
0.95%
5.93%
-4.98 pp
1.48%
-0.53 pp
EPS, basic (₹)
0.93
2.75
-66.2%
1.35
-31.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone results follow the consolidated pattern. Total income of ₹2,439.48 crore is ₹1.15 crore above the consolidated figure, and net profit of ₹23.14 crore is ₹0.84 crore above consolidated net profit of ₹22.30 crore.
Other income of ₹1.92 crore is 8.3% of profit before tax of ₹23.14 crore. Depreciation of ₹45.54 crore compares with ₹6.92 crore a year earlier, and the same finance costs of ₹69.28 crore appear in both natures.
The auditor has also qualified the standalone conclusion on the same ENA plant impairment matter, and the same Imperial Blue exceptional items of ₹10.95 crore apply to the standalone figures.
Inference
The filing reports two investments in the quarter: ₹2.00 crore in Round the Cocktails Pvt Ltd, taking its shareholding to 41.45% on a fully diluted basis, and ₹6.00 crore in Black Tiger Distilleries Pvt Ltd, taking its holding to about 12.5%. The filing does not say whether these were funded from cash or borrowings.
The company has proposed a composite scheme of amalgamation of two wholly owned subsidiaries, with an appointed date proposed as 1 Apr 2026, subject to shareholder, creditor and NCLT approvals; the filing does not give a timing for those approvals.
Two independent directors ceased on 30 Oct 2026 and two were appointed as additional independent directors, subject to member approval within three months. The filing does not say whether the company plans further board changes.
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