Tilaknagar Industries Limited · NSE:TI
Tilaknagar Industries — Q3 FY26 Earnings Presentation
42 slides from Tilaknagar Industries's earnings presentation, Feb 13, 2026
Slide 1: Cover letter to stock exchanges
February 13, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block-G, Dalal Street, Bandra-Kurla Complex, Bandra (East), Mumbai 400001 Mumbai-400 051. Scrip Code : 507205 Symbol : TI Sub: Earnings Presentation for Unaudited Financial
Slide 2: Earnings Presentation – Q3 & 9M FY26
Tilaknagar Industries Limited Earnings Presentation – Q3 & 9M FY26 Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 3: Disclaimer
Disclaimer This presentation may include statements which may constitute forward-looking statements including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Tilaknagar Industries’ future business developments and economic
Slide 4: Q3 & 9M FY26 Performance
Q3 & 9M FY26 PERFORMANCE Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 5: Strengthened Platform. Clear Priorities. Disciplined Execution.
Strengthened Platform. Clear Priorities. Disciplined Execution. “ Q3 FY26 marks the beginning of TI’s next phase of growth. Imperial Blue (“IB”) joined the Tilaknagar Industries ("TI") portfolio in December 2025 and delivered a strong start with 1.79 million cases sold in its first month under our o
Slide 6: Key Highlights – Q3FY26 and 9MFY26
Key Highlights – Q3FY26 and 9MFY26 Volumes1 Revenue1,2 NSR1 EBITDA1,2 PAT1,2,3 Q3FY26 53.1 lac cases INR 644 crores INR 1,242 /case INR 90 crores INR 56 crores 76.1% increase 89.2% increase 7.0% increase 14.0% margin 8.5% margin Y-o-Y Y-o-Y Y-o-Y Volume1 & Revenue1 Performance – Q3FY26 and 9MFY26 Pr
Slide 7: Q3 & 9M FY26 – Financial Performance
Q3 & 9M FY26 – Financial Performance NSR* (₹ per case) Revenue (₹ crs) Quarter 9M Quarter 9M +7.0% -0.5% +95.0% +43.1% 1,242 1,227 1,300 1,161 1,300 1,221 740 664 1,700 1,471 1,200 1,500 1,200 640 1,100 1,100 1,028 1,300 540 340 1,000 1,000 440 900 1,100 900 340 800 800 900 240 700 700 700 140 600 6
Slide 8: Sustained Volume Growth of 16.8% in Q3FY26 for TI Business (Ex-IB)
Sustained Volume Growth of 16.8% in Q3FY26 for TI Business (Ex-IB) Quarterly volumes (lacs cases) 53.1 35.2 29.5 30.1 26.0 18.7 17.9 17.6 16.5 Q3 FY20 Q3 FY21 Q3 FY22 Q3 FY23 Q3 FY24 Q3 FY25 Q3 FY26 Dec-25 Q3FY26 (Ex-IB) (IB) (Consolidated) Tilaknagar Industries Ltd. 7
Slide 9: Income Statement
Income Statement Particulars (₹ Crs) Q3 FY26 Q3 FY25 Y-o-Y Q2 FY26 Q-o-Q 9M FY26 9M FY25 Y-o-Y Revenue from Operations (Gross) 1,453 805 80.4% 916 58.7% 3,232 2,293 40.9% Excise Duty 789 465 69.8% 517 52.6% 1,761 1,265 39.2% Revenue from Operations (Net) 664 340 95.0% 398 66.7% 1,471 1,028 43.1% Cos
Slide 10: Current Gross and Net Debt Position
Current Gross and Net Debt Position Particulars (INR crores) Dec-24 Sep-25 Dec-25 Dec-26 Banks Term Loan1 - - 2,038 Gross Debt NBFCs Working Capital Loan - - 63 INR 2,148 cr Others Others 45 47 46 Total Gross Debt 45 47 2,148 Key Lenders Cash & Cash Equivalents 76 1,133 622 Total Net Debt (31) (1,08
Slide 11: TI Journey Over the Years
TI Journey Over the Years 2008 - 2014 2014 - 2017 2018 – 2024 2025 Onwards ▪ Acquired various bottling plants as ▪ Restructuring of debt with EARC ▪ CRISIL reaffirms A-/Stable rating ▪ Expansion projects stalled subsidiaries across multiple states and one-time settlements ▪ Increased stake in Spacem
Slide 12: Proven Leadership to Deliver Continued Success
Proven Leadership to Deliver Continued Success Amit Dahanukar Shivani Dahanukar Rajesh Choudhary Ahmed Rahimtoola Ameya Deshpande Nishant Jain Chairman & Executive Director Chief Financial Officer Chief Marketing Officer Chief Strategy Officer Chief Sales Officer Managing Director 30+ yrs experience
Slide 13: Updates on Imperial Blue Acquisition
Updates on Imperial Blue Acquisition Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 14: Transformational Opportunity Marking a Strategic Expansion
Transformational Opportunity Marking a Strategic Expansion Acquisition of Imperial Blue Business Undertaking from Pernod Ricard completed on 30th November 2025 Particulars INR crores (A) Consideration paid to Pernod Ricard1 3,260 (B) Deferred Consideration 290 (C) Total Consideration (A + B)2 3,550
Slide 15: Transaction Perimeter
Transaction Perimeter Business continuity Trademarks Intellectual property Manufacturing footprint Raw material supply and support ▪ "Imperial Blue” and ▪ Blending recipe for IB ▪ Mix of owned and ▪ Long-term supply ▪ PRI transferred certain allied trademarks shared units to support agreement with C
Slide 16: Updates on Integration
Updates on Integration Steps Taken by Tilaknagar Industries to Ensure Smooth Integration 1 2 3 4 Phased planning of state-wise Re-organization in mgmt. team Hired Big 4 integration exit from TSMA and label in tandem with business Entering into requisite bottling consultant for assistance with regist
Slide 17: Geographical Footprint - Manufacturing and Sales
Geographical Footprint - Manufacturing and Sales Production footprint Sales territories Sales also undertaken in institutional States with Bottling Unit Presence markets like CSD (all India), PMF as well as international markets Shrirampur (Mother Plant) North West South East 6 owned units (4 existi
Slide 18: Potential to Capture Significant Growth and Cost Synergies
Potential to Capture Significant Growth and Cost Synergies Growth synergies Cost synergies Increased scale and cross-selling, access to export markets Opportunities to reap operating leverage Strong position in mass-prestige segment, boosting premiumization Go-to-market and distribution network opti
Slide 19: Strategy Ahead
Strategy Ahead Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 20: Management Commentary
Management Commentary “ India is one of the fastest-growing premium spirits markets globally, expanding at over 11% CAGR. The launch of our luxury vertical, “House of TI”, was both strategic and timely. Monarch Legacy Edition helped us address a clear gap in the luxury brandy segment, building on ou
Slide 21: Imperial Blue will Strengthen TI’s Portfolio, Providing Access to 200mn+ cases Opportunity
Imperial Blue will Strengthen TI’s Portfolio, Providing Access to 200mn+ cases Opportunity… Brandy Category size: ~85 million East 13% North Monarch Legacy Mansion House Mansion House Mansion House Mansion House Courrier Napoleon 23% Edition Reserve Brandy Chambers Brandy Flandy Brandy West Whisky 1
Slide 22: In Line with TI’s Growth Strategy and Unlocking its Whisky Premiumisation Strategy
…in Line with TI’s Growth Strategy and Unlocking its Whisky Premiumisation Strategy Achieve regional Enhance product portfolio diversification ▪ Build scale to capture growth within the ▪ Complementary geographic highly attractive Indian whisky market exposures within India ▪ Geographical presence e
Slide 23: New Launches & Strategic Investments - Transformation of TI
New Launches & Strategic Investments - Transformation of TI Strategic Investments Inorganic Acquisitions Tilaknagar Industries Tilaknagar Industries 2 years ago Spaceman Spirits Round The Cocktails Imperial Blue Brands Journey Ahead Entry into Craft Entry into disruptive Brandy-first portfolio 3rd L
Slide 24: Awards & Recognition and Marketing Initiatives
AWARDS & RECOGNITION AND MARKETING INITIATIVES Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 25: Introducing Seven Islands Pure Malt Whisky
Introducing Seven Islands Pure Malt Whisky A Tribute to Mumbai An Indo-Scottish Pure Malt Whisky. • TI makes its foray into the luxury whisky segment with Seven Islands Pure Malt Whisky. • Before it became Mumbai, the city was seven islands joined by the sea. The whisky embodies this spirit of con
Slide 26: Seven Islands Pure Malt Whisky Launched in Maharashtra in Nov-25
Seven Islands Pure Malt Whisky Launched in Maharashtra in Nov-25 Tilaknagar Industries Ltd. 25
Slide 27: Brandy of the Masses
An Ultimate Collaboration Brandy God of the of the Masses Masses In Telugu markets, Mansion House & NBK are instinctively associated with each other. Tilaknagar Industries Ltd. 26
Slide 28: NBK x Mansion House : Big Idea
NBK x Mansion House : Big Idea Transforming NBK’s power into a feeling of invitation—a call to open up, celebrate and embrace life with grandeur. At its core, "Dil Open Cheyyi. Life Welcome Cheyyi." is a call to live life expansively. The campaign encourages people to embrace life with an open heart
Slide 29: Nandamuri Balakrishna (NBK) X Mansion House Campaign
Nandamuri Balakrishna (NBK) X Mansion House Campaign The Alien Film, the final film in the Nandamuri Balakrishna (NBK) X 24.6K Mansion House trilogy, leverages ENTRIES international-quality CGI and visual effects at scale. This campaign marks a first for Indian liquor Van Activation across Andhra ad
Slide 30: On-Ground Activation for Mansion House Whisky
On-Ground Activation for Mansion House Whisky Orchid Music Festival – Sikkim Sajjan Raj Vaidya Concert – Gangtok & Siliguri Tilaknagar Industries Ltd. 29
Slide 31: Mansion House Whisky Durga Pujo Limited Edition Packaging
Mansion House Whisky Durga Pujo Limited Edition Packaging • Red, the symbolic colour of Maa Durga in the form of sindoor and alta, inspired our Limited Edition Pack this festive season in West Bengal • The initiative has been warmly appreciated by the trade and consumers, standing out as the best in
Slide 32: Digital Activations
Digital Activations A person with a microphone in front of bottles AI-generated content may be incorrect. Sanaya Dahanukar, Marketing Mansion House Whisky Seven Islands Pure Malt Manager at TI featured in an Social Meida activation in Whisky Influencer Angel One Podcast West Bengal during Durga Acti
Slide 33: Spaceman Spirits Lab (SSL) Portfolio
Spaceman Spirits Lab (SSL) Portfolio An exciting Indian Craft spirits play ✔ In Q3 FY26, SSL expanded its domestic footprint with the launch of Samsara Gin, Sitara Rum, and Amara Vodka across Jharkhand, Chandigarh, and Madhya Pradesh markets ✔ Samsara Gin, Amara Vodka, and Sitara Rum were introduced
Slide 34: Monarch Legacy Edition × Bartisans: Golden Hour
Monarch Legacy Edition × Bartisans: Golden Hour A Strategic Collaboration to Extend Monarch into the Premium At-Home Cocktail Ecosystem • Co-created artisanal cocktail mixer inspired by Monarch’s flavour profile and positioning (Saffron, Rose & Cardamom) • Introduces a cocktail-led consumption forma
Slide 35: Awards across 2023, 2024 & 2025
Winning Awards with Distinction Awards across 2023, 2024 & 2025 (till Dec‘25) Tilaknagar Industries Ltd. 34
Slide 36: Won multiple awards at the ‘Spiritz Conclave & Achievers’ Awards 2025
Won multiple awards at the ‘Spiritz Conclave & Achievers’ Awards 2025 Bronze Bronze Monarch Legacy Mansion House Courrier Napoleon Mansion House Mansion House Mansion House Green Courrier Napoleon Edition Brandy Orange Flavoured Brandy Green Brandy Whisky Apple Flavoured Brandy Red Brandy Brandy Pro
Slide 37: Awards for Mansion House Boyzzzz Campaign
Awards for Mansion House Boyzzzz Campaign Event Event ▪ Indian Content & Marketing Awards 2025 ▪ ET Shark Awards ‘25 – The South Chapter Brand Brand ▪ Mansion House Brandy ▪ Mansion House Brandy Awards Awards ▪ Gold – Best Use of Regional Content ▪ Gold – Best Content Marketing Campaign ▪ Silver – B
Slide 38: Courrier Napoleon continues to be 3rd fastest growing brandy globally in 2024
Courrier Napoleon continues to be 3rd fastest growing brandy globally in 2024… ...Mansion House Brandy continues to be largest selling brandy in India and 2nd largest globally Growth rankings Volume rankings 9th 1st 2nd 7th 29th Fastest Largest Largest Largest selling Largest selling growing brandy
Slide 39: Annexures
Annexures Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 40: Improving business fundamentals
Improving business fundamentals Premiumisation strategy to enhance margins and cash flows Total Volumes Sold (mn cases) Brandy Sales (mn cases) Share of Brandy to total volumes sold 91% 92% 94% 93% 94% 91% 12 10.44 10.82 10 8.98 14 11.16 11.91 6.33 8 12 9.64 5.86 10 5.03 6.73 6 8 6.44 5.45 4 6 4 2 2
Slide 41: Focus on margins and cashflows
Focus on margins and cashflows Net Revenues (₹ Crs) EBITDA (₹ Crs) and Finance Cost (₹ Crs) and EBITDA Margin (%) 17.8 As % of Net Revenues 1600 1,434 1,394 1400 14.3 19.8 13.3 1,164 11.8 1200 9.9 1000 12.9 800 783 653 600 549 7.9 54 112 137 185 255 -52 3.5 400 1.9 200 0.8 -8.0 129 71 62 40 27 0 12
Slide 42: Thank You
For further information, please contact: Company : Tilaknagar Industries Ltd. (BSE: 507205 | NSE: TI) Ameya Deshpande Chief Strategy Officer Email: adeshpande@tilind.com Investor Relations Advisors : CDR India Mr. Siddharth Rangnekar Mr. Mitesh Jain +91 97699 19966 Siddharth@cdr-india.com +91 96194
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