Tilaknagar Industries Limited · NSE:TI
Tilaknagar Industries — Q2 FY27 Earnings Presentation
52 slides from Tilaknagar Industries's earnings presentation, Oct 30, 2026
Slide 1: Exchange filing cover letter
October 30, 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 R
Slide 2: A legacy of crafted excellence – Earnings Presentation Q2 & H1 FY27
A legacy of crafted excellence Earnings Presentation – Q2 & H1 FY27
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: Q2 & H1 FY27 Performance
Q2 & H1 FY27 PERFORMANCE Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 5: Integration: Focus on Market Share Gains. Clear Growth Visibility
Focus on Market Share Gains. Clear Growth Visibility. “ Integration 1 Update: Post Q1, the states which transitioned out of TSMA under TI operations have been stabilized - marking another step towards successful integration. The last remaining state will also be transitioned towards end of FY27. As
Slide 6: Key Highlights – Q2 FY27
Key Highlights – Q2 FY27 Volumes Revenue1,2 NSR1,3 EBITDA1,2 PAT 1,2,4 Q2 FY27 8.9 mn cases INR 1,033 crore INR 1,174 /case INR 146 crores INR 66 crore 160% YoY & 2% 172% YoY & 1% 3% YoY increase & 14.1% margin 6.4% margin QoQ increase QoQ increase 0.8% QoQ decrease Volume & Revenue Performance – Q2
Slide 7: Q2 FY27 and H1 FY27 Financial Performance (Adjusted for Subsidy)
Q2 FY27 and H1 FY27– Financial Performance (Adjusted for Subsidy) NSR (₹ per case) Revenue (₹ crs) Q2 FY27 H1 FY27 Q2 FY27 H1 FY27 +3.2% +4.2% +172.3% +180.2% 1,300 1,138 1,183 1,174 1,179 2,300 2,059 1,200 1,300 1,200 1,131 1,240 1,026 1,033 2,100 1,900 1,040 1,100 1,100 1,700 1,000 840 1,000 1,500
Slide 8: Income Statement (Including Subsidy)
Income Statement (Including Subsidy1) Particulars (₹ Crs) Q2 FY27 Q2 FY26 YoY Q1 FY27 QoQ H1 FY27 H1 FY26 YoY Revenue from Operations (Gross) 2,438 897 171.8% 2,252 8.2% 4,690 1,746 168.7% Excise Duty 1,402 517 171.0% 1,206 16.2% 2,609 972 168.4% Revenue from Operations (Net) 1,035 380 172.8% 1,046
Slide 9: Balance Sheet
Balance Sheet As at As at As at As at Particulars (₹ Crs) Particulars (₹ Crs) Sep-26 Mar-26 Sep-26 Mar-26 EQUITY & LIABILITIES ASSETS Equity Non‐Current Assets (a) Equity share capital 248 247 Property, plant and equipment 500 493 (b) Other equity 2,770 2,735 Capital work‐in‐progress 16 60 Total Equ
Slide 10: Cash Flow
Cash Flow Half year ending Half year ending Particulars (₹ Crs) Sep-26 Sep-25 Cash Flow from Operating Activities Profit before Tax 54 142 Adjustment for Non-Operating items 246 17 Operating Profit before Working Capital Changes 299 158 Changes in Working Capital (302) (87) Less: Direct Taxes paid (
Slide 11: Current Gross and Net Debt Position
Current Gross and Net Debt Position Particulars (INR crores) Mar-26 Jun-26 Sep-26 Sep-26 Banks Term Loan1 2,040 2,041 2,043 Gross Debt NBFCs Working Capital Loan 230 175 135 INR 2,202 cr Others Others 25 25 24 Total Gross Debt 2,295 2,241 2,202 Key Lenders Cash & Cash Equivalents 3842 1412 1282 Tota
Slide 12: Proven Leadership to Deliver Continued Success
Proven Leadership to Deliver Continued Success No. of years of experience Amit Dahanukar Shivani Dahanukar Ahmed Rahimtoola Ameya Deshpande Nishant Jain Ina Bajwa Anil Singal Chairman & Executive Director Chief Marketing Officer Chief Strategy Officer Chief Sales Officer Chief People Officer Deputy
Slide 13: Updates on Integration
Updates on Integration Key Updates on Integration >90% 1 State ~INR 2.6 cr 40+ Units Big 4 Advisor IB volumes under TI Remains under TSMA Avg. monthly TSMA Post TSMA exit for steady Integration consultant for operations (balance still (max Q4 FY27 exit) expenses in Q2 FY27 state business smooth tran
Slide 14: 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 15: New Launches & Strategic Investments - Transformation of TI
New Launches & Strategic Investments - Transformation of TI Strategic Investments Inorganic Acquisitions Tilaknagar Industries Tilaknagar Industries Spaceman Spirits Black Tiger Round The 2 years ago Imperial Blue Brands Journey Ahead Distilleries Cocktails Brandy-first portfolio Entry into Craft En
Slide 16: House of TI Premium Portfolio: Expansion Continues into Assam
House of TI Premium Portfolio: Expansion Continues into Assam Entry into Assam following West Bengal Expansion: ✓ Expands the width for premium product range, leveraging the IB distribution network ✓ Kolkata, Siliguri, Asansol and Darjeeling are key premium markets within West Bengal with high foot-
Slide 17: TI Enters Tequila through Strategic Investment in Bodega
TI Enters Tequila through Strategic Investment in Bodega Investment Stake Acquired ₹ 22 crores 30% ₹6 crore in the first tranche, followed by On fully diluted basis post second a second investment of ₹16 crore on or tranche of investment before 12 months from first tranche Why this investment matter
Slide 18: Strategy Ahead
Strategy Ahead Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 19: Management Commentary
Management Commentary “ We are very excited about our foray into Tequila, with the investment in Black Tiger Distilleries, the makers of Bodega Suprema No. 5 – a 100% Blue Weber Agave Tequila. Our strategic investment approach continues to be opportunity-led and disciplined, with capital allocated b
Slide 20: Tilaknagar's Growth Trajectory: Next 5 Years and Beyond
Tilaknagar’s Growth Trajectory: Next 5 Years and Beyond Integration and Consolidation Phase Accelerated Growth Phase FY27 FY28 – FY30 FY31 Onwards Volume Growth High Single to Low Mid-Teens Double Digit Double Digit 200 – 250 bps over 300 bps+ over vol. 300 bps+ over vol. Revenue Growth vol. growth
Slide 21: Tilaknagar's Growth Trajectory: Luxury Push is a Central Theme
Tilaknagar’s Growth Trajectory: Luxury Push is a Central Theme Presence in Luxury and Super Premium Segments across all Categories Seven Islands Monarch Legacy House:Pour Samsara Gin Amara Vodka Sitara Rum Bodega Tequila Pure Malt Whisky Edition Brandy Picante Phased Expansion of Seven Islands into
Slide 22: TI's Portfolio: Presence Across Categories and Price Points
TI’s Portfolio: Presence Across Categories and Price Points Whisky Brandy Rum Vodka Gin Tequila / Agave Luxury / Super Premium Seven Islands Pure Monarch Legacy Industry : ~11 Mn Malt Whisky Edition Brandy Sitara Spiced & White Rum Amara Vodka Samsara Gin Bodega Picante Premium / Semi- premium Courr
Slide 23: TI's Portfolio: Each Brand Focuses on Specific Objectives
TI’s Portfolio: Each Brand Focuses on Specific Objectives Long-term margin expansion contributors Niche & highly profitable Organic brown spirit luxury play with on-trade first and portfolio & provenance plays new-age focused brands Profitability High-volume, wide- Cocktail culture and at- distribut
Slide 24: Awards & Recognition & Marketing Initiatives
Awards & Recognition & Marketing Initiatives Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 25: (a) Awards / Recognitions
(a) Awards / Recognitions Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 26: Winning Awards with Distinction
Winning Awards with Distinction Awards across 2023, 2024, 2025 & 2026 Tilaknagar Industries Ltd. 25
Slide 27: Mansion House is the highest selling & fastest growing premium brandy in the World
Mansion House is the highest selling & fastest growing premium brandy in the World… ...Imperial Blue is the 3rd largest whisky Globally 1st 2nd 3rd 3rd 8th Fastest Fastest growing Largest among the Largest selling growing Largest selling selling premium world’s top 25 spirits brand in premium brandy
Slide 28: Won Multiple Awards at the Spiritz Conclave & Achievers Awards 2026
Won Multiple Awards at the ‘Spiritz Conclave & Achievers’ Awards 2026 Seven Islands Pure Malt Monarch Legacy Mansion House Flandy - Whisky – Grand Gold Edition Brandy – Grand Gold Gold Best Brand Campaign of the Year Digital 2026 Dil Open Cheyi. Life Welcome Cheyi Mansion House Whisky - Silver Mansi
Slide 29: Won Multiple Awards at the Spiritz Conclave & Achievers Awards 2026
Won Multiple Awards at the ‘Spiritz Conclave & Achievers’ Awards 2026 Seven Islands Pure Malt Whisky – Grand Gold Monarch Legacy Edition Brandy – Grand Gold Mansion House Flandy – Gold Best Brand Campaign of the Year Digital 2026 – Dil Open Cheyi. Life Welcome Cheyi Tilaknagar Industries Ltd. 28
Slide 30: 'Dil Open Cheyi. Life Welcome Cheyi' Campaign Bags Multiple Awards
‘Dil Open Cheyi. Life Welcome Cheyi’ Campaign Bags Multiple Awards Platform Platform ▪ ET DigiPlus Awards 2026 by ET BrandEquity ▪ MADDY’s 2026 Recognition Recognition ▪ Gold - Best Regional Campaign – Dil Open Cheyyi. Life Welcome Cheyi ▪ Bronze - Digital Brand Campaign – Dil Open Cheyi. Life Welco
Slide 31: 'Dil Open Cheyi. Life Welcome Cheyi' Campaign Bags Multiple Awards
‘Dil Open Cheyi. Life Welcome Cheyi’ Campaign Bags Multiple Awards Platform Platform ▪ 17th edition of the e4m Indian Digital Marketing ▪ 6th edition of the Indian Marketing Awards – South Awards (IDMA) 2026 2026 (IMA South), presented by exchange4media Recognition Recognition ▪ Gold - Best Benchmar
Slide 32: (b) Marketing Initiatives: Luxury and Super Premium
(b) Marketing Initiatives: Luxury and Super Premium Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 33: Seven Islands x Island Wars
Seven Islands x Island Wars Having Said That × Seven Islands - Island Wars A high-energy infotainment race show where two pairs sprint across Mumbai’s original seven islands — solving riddles, completing challenges and uncovering the city’s hidden history. Vice meets The Amazing Race. Format - 6 epi
Slide 34: Seven Islands x The Bombay Bar Crawl
Seven Islands x The Bombay Bar Crawl T H E B O M B AY B A R C R AW L Exploring Bombay, One Island at a time Concept Bombay was seven islands once, joined over a century and a half into one shore. Seven Islands Pure Malt Whisky is built the same way: four single malts, two Indian and two Scottish, br
Slide 35: Other Marketing Initiatives
Other Marketing Initiatives Youtube logo png, youtube icon transparent 18930572 PNG Sanaya Dahanukar, General As part of its Independence Manager – Growth & Innovation at Day celebrations, TI Seven Islands Pure Malt TI featured in the inaugural showcased Mansion House Whisky launched in episode of S
Slide 36: Seven Islands Pure Malt Whisky – Key Account Activations
Seven Islands Pure Malt Whisky – Key Account Activations Courtyard by Marriot Holiday Inn Aer, Four Seasons Radisson Blu Le Meridian Tilaknagar Industries Ltd. 35
Slide 37: Monarch Legacy Edition Brandy – Key Account Activations
Monarch Legacy Edition Brandy – Key Account Activations Courtyard by Marriot Radisson Blu Basil & Beans Cheers Republic Tilaknagar Industries Ltd. 36
Slide 38: Bodega Launch at Bandra Born
Bodega Launch at Bandra Born 17 August 2026 · Bandra Born, Mumbai • Bodega Nights marked the official launch of Bodega in Mumbai and the first edition of the brand’s experiential dining and cocktail series. • Hosted at Bandra Born in collaboration with Chef Gresham Fernandes and Spill It, the evenin
Slide 39: Bodega Activation at Key Accounts & Events in Mumbai
Bodega Activation at Key Accounts & Events in Mumbai Slink & Bardot Soho House Galeries Lafayette Bodega X STAK’D at Papi Tilaknagar Industries Ltd. 38
Slide 40: Bodega Activation at Key Accounts & Events in Mumbai
Bodega Activation at Key Accounts & Events in Mumbai Bodega X One Amazing The Neighbourhood Festival Bodega X Barfind at Subko Thing ’26 2026 Tilaknagar Industries Ltd. 39
Slide 41: Bodega <> Last Call with Mumbai Foodie
Bodega <> Last Call with Mumbai Foodie Content IP • Last Call is a culture-led content series by Bodega in Youtube logo png, youtube icon transparent 18930572 PNG collaboration with Mumbai Foodie/Servd, exploring Mumbai’s legacy bars through the stories, people and communities that make them institu
Slide 42: House of Samsara Activation at Key Accounts & Events
House of Samsara Activation at Key Accounts & Events Samsāra x Swiggy Delhi Art Weekend Samsāra x Superqueens Samsāra x Chapter 2 SERV’D Tilaknagar Industries Ltd. 41
Slide 43: House of Samsara Activation at Key Accounts & Events
House of Samsara Activation at Key Accounts & Events Bottoms Up x Cheryl Bar, Mexican National Day, Delhi Panjim Picante Party Jungle Café, Bangalore Goa Tilaknagar Industries Ltd. 42
Slide 44: (b) Marketing Initiatives: Imperial Blue
(b) Marketing Initiatives: Imperial Blue Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 45: Imperial Blue - Key Marketing Interventions
Imperial Blue - Key Marketing Interventions NATIONAL ROLLOUT OF AN THEME INTEGRATED CAMPAIGN WITH A NEW DIGITAL FIRST LAUNCH OF IB’S STAND UP COMEDY IP: IMPERIAL BLUE X ASSAM PREMIER CAMPAIGN, SUPPORTED WITH NNOVATIVE CLUTTER BREAKING OOH, MEMES, CGI MEN WILL BE MEN X ZEE LEAGUE Youtube logo png, yo
Slide 46: Imperial Blue – 'Because Men Will be Men' Campaign
Imperial Blue – ‘Because Men Will be Men’ Campaign • A new chapter for the franchise, not a one-off. The lift is back, while situations and ‘Mennisms’ keep changing • Enhances Imperial Blue’s iconic distinctiveness in a highly competitive category • Unlocks existing equity just before the festive se
Slide 47: Key Marketing Interventions for Imperial Blue & Imperial Black
Key Marketing Interventions for Imperial Blue & Imperial Black Driving premiumisation by leveraging Activation driving consideration, trials Imperial Blue Dual Cask and Imperial Black and conversions in select markets Premiumization push – Imperial 90ml ml Drive Black in UP & in select Meghalaya in
Slide 48: Imperial Black Launch in Uttar Pradesh & Meghalaya
Imperial Black Launch in Uttar Pradesh & Meghalaya Imperial Black Launch in Uttar Pradesh Imperial Black Launch in Meghalaya Tilaknagar Industries Ltd. 47
Slide 49: (c) Mansion House Marketing Initiatives
(c) Mansion House Marketing Initiatives Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.
Slide 50: Mansion House Football Cup 2026 – Goa
Mansion House Football Cup 2026 – Goa Mansion House Packaged Drinking Water was the title sponsor of ‘All Goa Inter-Village’ Football Tournament Tilaknagar Industries Ltd. 49
Slide 51: Premium Packaging Revamp for Mansion House Flandy
Premium Packaging Revamp for Mansion House Flandy Bottle Structure Sleek, modern & bold — embodies youthful energy and spontaneity Dynamic Design & Vibrant Color Palette Exudes energy and vibrant colors New Flandy launch in Telangana — reflects Flandy’s joyful and spontaneous character Youthful Appe
Slide 52: Thank You
For further information, please contact: Company : Tilaknagar Industries Ltd. (BSE: 507205 | NSE: TI) Ameya Deshpande Chief Strategy Officer adeshpande@tilind.com Email: adeshpande@tilind.com Abhirav Patodia DGM – Corporate Strategy apatodia@tilind.com Email: apatodia@tilind.com Investor Relations A
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