Tilaknagar Industries Limited · NSE:TI
Tilaknagar Industries — Q4 FY25 Earnings Presentation
46 slides from Tilaknagar Industries's earnings presentation, May 14, 2025
Slide 1: Cover letter to stock exchanges for earnings presentation
May 14, 2025 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 Audited Financial Results
Slide 2: Earnings Presentation – Q4 & FY25
Tilaknagar Industries Limited Earnings Presentation – Q4 & FY25 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: Q4 & FY25 Performance
Q4 & FY25 PERFORMANCE Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 5: Management commentary on performance
Management commentary on performance “ Q4 FY25 has seen a very strong close to the year; with high volume and value-led growth. Quarterly growth was driven by resumption of strong performance in our largest state of Andhra Pradesh (“AP”), both on YoY and QoQ terms. The Route to Market (“RTM”) change
Slide 6: Q4 & FY25 – Key highlights
Q4 & FY25 – Key highlights Q4 FY25 FY25 Volume performance: Volume performance: ▪ Volume growth of 20.1% YoY ▪ Volume growth of 6.7% YoY; 5-yr (FY20-25) CAGR of 13.1% ‒ Back to strong growth trajectory ‒ Subdued growth in first 9 months of FY25 due to industry- ‒ AP RTM transition completed wide dis
Slide 7: Q4 FY25 – Back to industry-beating growth
Q4 FY25 – Back to industry-beating growth… …after moderate growth seen in first 9 months of FY25 due to industry-wide issues in certain key Southern states NSR* (₹ per case) Revenue (₹ crs) Quarter Full Year Quarter Full Year -8.6% +13.1% +2.9% -5.3% 1,293 1,394 1,434 1,400 1,282 406 1,500 1,300 1,1
Slide 8: Q4 FY25 volumes growth at 20.1% YoY
Q4 FY25 volumes growth at 20.1% YoY… …Closing FY25 at 11.9 mn cases Quarterly volumes (lacs cases) Q4 FY25: Highest-ever quarterly volume since FY15 34.2 29.5 29.4 30.1 28.4 28.5 28.5 26.0 25.4 24.3 25.1 19.5 18.5 17.6 18.1 18.7 17.7 16.5 17.2 14.7 14.9 13.5 11.1 6.0 FY20 FY21 FY22 FY23 FY24 FY25 Ti
Slide 9: Income Statement
Income Statement Particulars (₹ Crs) Q4 FY25 Q4 FY24 Y-o-Y Q3 FY25 Q-o-Q FY25 FY24 Y-o-Y Revenue from Operations (Gross) 881 771 14.4% 805 9.4% 3,175 2,958 7.3% Excise Duty 475 412 15.4% 465 2.2% 1,740 1,564 11.3% Revenue from Operations (Net) 406 359 13.1% 340 19.2% 1,434 1,394 2.9% Cost of Materia
Slide 10: Balance Sheet
Balance Sheet As at As at As at As at Particulars (₹ Crs) Particulars (₹ Crs) Mar-25 Mar-24 Mar-25 Mar-24 EQUITY & LIABILITIES ASSETS Equity Non‐Current Assets (a) Equity share capital 193.6 192.7 Property, plant and equipment 367.9 394.1 (b) Other equity 688.6 461.2 Capital work‐in‐progress 3.4 0.3
Slide 11: Cash Flow
Cash Flow Year ending Year ending Particulars (₹ Crs) Mar-25 Mar-24 Cash Flow from Operating Activities Profit before Tax 230 138 Adjustment for Non-Operating items 47 58 Operating Profit before Working Capital Changes 277 196 Changes in Working Capital -99 -78 Less: Direct Taxes paid 0 -1 Net Cash
Slide 12: Debt Journey
Net cash position of around Rs. 107 crs Debt Journey (₹ Crs)(a) Debt as of 31-Mar-25 (₹ Crs)(a) 1,119 0.4 37 18.0 66 543 492 449 361 16 250 Net debt 182 free 119 97 24.1 92 74 45 42 43 -25 -31 -107 Vendor Financing Trade Deposits Others Dec-24 Dec-24 Mar-21 Mar-22 Mar-19 Mar-23 Mar-24 Jun-24 Sep-24
Slide 13: New Launches, Portfolio & Strategic Initiatives
NEW LAUNCHES, PORTFOLIO & STRATEGIC INITIATIVES Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 14: Recent launch pipeline
Recent launch pipeline… …with more to follow Mansion House Mansion House Mansion House Monarch Samsara Gin, Sitara Flandy Blue Lagoon Gin Chambers Whisky Legacy Edition Rum and Amara Vodka June-22 2023 November-23 September-24 November-24 April-25 India’s first premium Complete refresh to Meeting pr
Slide 15: Introducing Monarch Legacy Edition
Introducing Monarch Legacy Edition ▪ Tilaknagar Industries’ first luxury foray ▪ 100% pure grape brandy ▪ Crafted from a meticulous blend of matured Indian grape spirits and French grape spirits aged up to 8 years ▪ Positioned as a sipping brandy for the aspirational Indian, while elevating Indian b
Slide 16: Monarch wins Bronze Medal at the London Spirits Competition 2025
Monarch wins Bronze Medal at the London Spirits Competition 2025… …Only Indian brandy to win ▪ Held annually, the London Spirits Competition is one of the most respected events in the global spirits industry ▪ Judging based on taste, packaging and value by an imminent jury of bartenders, retail buye
Slide 17: Launch of Mansion House Whisky in its New Avatar
Launch of Mansion House Whisky in its New Avatar • Mansion House Gold Barrel Whisky (“MHW”) launched in Eastern and North-Eastern states, soon to launch in distribution-strong states in South India • MHW provides us with an avenue to have a strong play in the largest IMFL category in the East and No
Slide 18: Portfolio (1/3)
Portfolio (1/3) ▪ India’s first Luxury Brandy made with matured Indian and French grape spirits Monarch Legacy ▪ Ranked 22nd in the prestigious Spirits Business’ ‘Top 50 Innovative Spirits of Edition Brandy 2024’ ▪ Won Bronze at the prestigious London Spirits Competition 2025 in the Brandy category
Slide 19: Portfolio (2/3)
Portfolio (2/3) Mansion House ▪ Launched in Eastern and North-Eastern states, soon to launch in distribution- Whisky strong states in South India ▪ An aspirational entry-level Mass Prestige gin, Blue Lagoon is infused with a Blue Lagoon Gin perfect blend of traditional craftsmanship and contemporary
Slide 20: Portfolio (3/3)
Portfolio (3/3) TI has started selling Spaceman Spirits Lab portfolio under the usership arrangement from April 2025 onwards ▪ Indian craft gin with presence in Indian Contemporary as well as Flavoured Gin Samsara Gin ▪ Known for its Pink Gin ▪ One of the top 3 Indian craft gin brands ▪ Indian craft
Slide 21: Samsara Gin, Sitara Rum & Amara Vodka
Samsara Gin, Sitara Rum & Amara Vodka An exciting Indian Craft spirits play ▪ India’s favourite Pink Gin ▪ Portfolio consists of 6 gins (including flavoured gins) under the Samsara family of brands, 2 rum variants under the Sitara and 1 vodka under the Amara brand Performance: ▪ Continuously growing
Slide 22: Bartisans
Bartisans Premium ‘Ready to Pour’ Cocktail Mixers ▪ Leading premium cocktails mixer brand ▪ Available in 19 flavours including Signature mixers like Raid and Run (Jamun and Himalayan Pink Salt) and Indian Summer (Mango, Cilantro and Bird’s Eye Chilli) to Classics like Margarita and Picante ▪ FY25 re
Slide 23: Well-positioned to benefit from industry trends
Well-positioned to benefit from industry trends 15-20 million people Cocktail culture is At-home consumption Premiumisation driving are expected to enter becoming very continues to remain industry growth across the legal drinking age prevalent, strong post the all categories; on every year driving w
Slide 24: Key strategic priorities
Key strategic priorities Enhanced Category operating ownership management ▪ Brandy price ▪ Better growth laddering ▪ Better margins ▪ Investment in marketing Stronger Calibrated Balance Sheet flanking ▪ Disciplined debt ▪ Incrementally looking management at opportunities ▪ Focus on efficient levels
Slide 25: Meeting need gaps across premium price points in brandy
Meeting need gaps across premium price points in brandy Offerings across multiple P&A segments in Brandy Monarch Mansion House Courrier Napoleon Mansion House Mansion House 3 Cheers Courrier Napoleon Legacy Edition Chambers Brandy Green Flandy Brandy Brandy Brandy Red 600%+ +50% +30% +25% Base price
Slide 26: Awards & Recognition and Marketing Initiatives
AWARDS & RECOGNITION AND MARKETING INITIATIVES Giving Brandy a ‘share of voice’ commensurate to its ‘share of market’ Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 27: Mansion House Boyzzzz web series
Mansion House Boyzzzz… ...A web series ▪ 21 short stories ▪ Launched on 8th October 2024 ▪ Average duration of 8-10 mins per episode ▪ Target audience from Andhra Pradesh and Telangana ▪ Shot in Telugu language Watch full length episodes on: Wirally YouTube Plot: The series revolves around engaging
Slide 28: The Warm Embrace of Fatherhood campaign
“The Warm Embrace of Fatherhood” An ode to celebrating the #DadInEveryMan Performance Marketing Father’s Day DVC activation on Campaign Results all MH Social channels Total Reach 15.92 Mn+ Total Impressions “From bedtime stories to life lessons, a 31.25 Mn+ Father's love is a Father's love - irrepla
Slide 29: Mansion House Brandy Campaigns
Mansion House Brandy Campaigns Campaign A Warm Welcome’ – Mansion House Brandy’s brand proposition, a first step towards giving Awards and brandy the “share of voice” commensurate to its Accolades “share of market” Digixx Awards 2025 by Ad Gully Masters of Modern Marketing Awards 2024 The Video Medi
Slide 30: Mansion House Flandy Campaigns
Mansion House Flandy Campaigns TI’s first large scale brand anthem, launched across Campaign digital platforms. ‘Welcome The Now’ – Mansion Awards and House Flandy’s brand proposition, giving brandy a more aspirational, fun, inclusive and versatile Accolades positioning Masters of Modern Marketing A
Slide 31: Courrier Napoleon 3rd fastest growing spirits brand globally
Courrier Napoleon Brandy becomes 3rd fastest growing spirits brand globally in 2023… ...Mansion House Brandy 4th fastest growing brandy brand globally and largest selling brandy in India Growth rankings Volume rankings 4th 21th 1st 2nd 8th 25th Fastest Fastest Largest Largest Largest selling Largest
Slide 32: Multiple awards at the Spiritz Achievers' & Selection Awards 2024
Multiple awards at the Spiritz Achievers’ & Selection Awards 2024 Mansion House Mansion House Green Mansion House Mansion House Gold Courrier Napoleon Orange Flavoured Brandy Apple Flavoured Brandy Chamber Brandy Barrel Whisky French Brandy Green Product debut of the Year Brand promotion – Digital s
Slide 33: Monarch Legacy Edition – Launch Event in Mumbai
Monarch Legacy Edition – Launch Event in Mumbai Tilaknagar Industries Ltd. 32
Slide 34: Monarch Legacy Edition – Wide Press Coverage
Monarch Legacy Edition – Wide Press Coverage Tilaknagar Industries Ltd. 33
Slide 35: Industry & Company Overview
INDUSTRY & COMPANY OVERVIEW Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 36: Brandy is the 2nd largest category in IMFL
Brandy is the 2nd largest category in IMFL… …and Southern and East India consumes ca. 70% of all IMFL Category-wise IMFL volume share Region-wise IMFL volume share 2.8% 0.5% 13.2% 10.9% 13.7% 22.1% 56.8% 63.7% 16.3% Whiskey Brandy Rum Vodka Gin South North East West Volumes are expected to grow in m
Slide 37: About the Company
About the Company Largest brandy manufacturer in India, with a predominant Prestige & Above (“P&A”) portfolio 1933 21 15+ 91% 11.9mn 86% 90 years since Manufacturing units Brands across Share of Brandy as % Volumes (in cases) Share of sales to incorporation & 50+ across 10 states products of total v
Slide 38: Production and Sales footprint
Production and Sales footprint… …Ca. 70% of all production takes place through contract manufacturing units, following an asset-light model Production footprint Sales territories Sales also undertaken in institutional markets like CSD (all India), PMF as well as international markets 1 UNIT Jammu 1
Slide 39: Our journey
Our journey The turnaround well and truly coming to fruition 1933-2007 2008-2014 2014-2017 2018 onwards o Founded in 1933 as Maharashtra o Acquired subsidiaries Vahni o Expansion project at Prag stalled o Restructuring of debt completed with Sugar Mills Ltd. (MSML) to Distilleries (Karnataka), Prag
Slide 40: Brand portfolio
Brand portfolio India’s first luxury brandy Luxury Monarch Legacy Edition India’s first premium Premium / Semi Courrier flavoured brandy Mansion House Mansion House Mansion House Napoleon Premium Reserve Brandy Chambers Brandy Green Mansion House Whisky Flandy #1 Premium Brandy in India Blue Deluxe
Slide 41: Two millionaire brands in the portfolio
Two millionaire brands in the portfolio MANSION HOUSE COURRIER NAPOLEON India’s largest 2nd fastest and World’s growing brandy second largest and 3rd fastest selling brandy growing spirits brand Globally Drink responsibly: The consumption of alcoholic beverages should always be approached responsibl
Slide 42: Senior management
Senior management Amit Dahanukar Shivani Dahanukar Abhinav Gupta Ahmed Rahimtoola Ameya Deshpande Chairman & Executive Director CFO CMO President – Strategy & Corp Dev Managing Director Previously CFO with 14+ yrs with Allied Blenders Previously Investment Banker with Trident Limited & Distillers De
Slide 43: Full Year Financials
FULL YEAR FINANCIALS Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 44: 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 6 5.03 6.44 6.73 5.45 8 4 6 4 2 2
Slide 45: 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 -52 400 3.5 1.9 200 0.8 -8.0 129 71 62 40 27 0 12
Slide 46: Thank You
For further information, please contact: Company : Tilaknagar Industries Ltd. (BSE: 507205 | NSE: TI) Ameya Deshpande President – Strategy & Corporate Development Email: adeshpande@tilind.com Investor Relations Advisors : CDR India Mr. Siddharth Rangnekar Mr. Mitesh Jain +91 97699 19966 Siddharth@cd
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