The company is eyeing to deliver a double-digit volume growth and achieve an Ebitda margin of 16 to 18 per cent on combined business
Tilaknagar Industries, the maker of Mansion House Brandy and home to Imperial Blue Whisky, has reported a volume growth of 67.6 per cent on a year-on-year (YoY) basis, with 20 million cases in the fiscal year 2026. The company’s board has also approved the re-appointment of Amit Dahanukar, as Chairman and Managing Director and Key Managerial Personnel (KMP), not liable to retire by rotation for a period of three years, effective from 07 November 2026 to 06 November 2029.
The company said in an exchange filing that its consolidated net revenue from operations stood at Rs 2,346 crore in FY26, marking a 69.9 per cent YoY growth. Adjusted for subsidy, Net revenue were at Rs 2,279 crore, growing at 68.6 per cent. Net profit increased by 30.3 per cent to Rs 299 crore. Further adjusted for subsidy income, net profit stood at Rs 232 crore. The net profit excludes exceptional items and amortisation on intangible assets related to acquisition.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) rose by 64.5 per cent to reach Rs 419 crore. In Q4FY26, the volumes grew by 134.7 per cent YoY to reach eight million cases. Net revenue from operations rose 147.5 per cent YoY in Q4FY26 to rise to Rs 949 crore. Net profit also rose 6.5 per cent during the quarter, the company added. During the quarter, Imperial Blue business (ex-Maharashtra) grew at 9 per cent in volume terms compared to Q4FY25.
“I am happy to announce that we have reached a sales volume of ~20 mn cases in FY26 including 4 months of Imperial Blue under TI ownership, with Mansion House Brandy reaching a record 10 mn cases sale in FY26, cementing its position as India’s largest P&A brandy,” stated Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries.
Extension Of CMD’s Term
The current tenure of Dahanukar is till 06 November 2026. Accordingly, based on the recommendation of the Nomination and Remuneration Committee, the board has approved his re-appointment for a further term, subject to the approval of the shareholders of the company.
With his deep insight and knowledge of various aspects relating to IMFL industry coupled with long term business experience, he has provided leadership during transformative times of the company, the exchange filing added.
The company’s board has also approved the re-appointment and remuneration of Chemangala Ramachar Ramesh as Whole-Time Director and KMP of the company, liable to retire by rotation for a period of three years with effect from 13 November 2026 to 12 November 2029 (both days inclusive).
“The board at its Meeting held on 29 May 2026, has inter-alia considered and approved the recommendation to the members, re-appointment of Chemangala Ramachar Ramesh, Whole-Time Director, who is retiring by rotation at the ensuing AGM,” the statement added.
Dividend And Road Ahead
The board has also approved the recommendation of dividend of Rs 1 per equity share having face value of Rs 10/- each for FY26 to the members at the ensuing Annual General Meeting (AGM). The company has also incorporated a Wholly Owned Subsidiary (WOS) in Nigeria in the alcoholic beverage industry.
Dahanukar added that with a large part of manufacturing transition already completed or planned and the entire team built across functions, the immediate target as an organisation for the next three years is broadly divided into four parts. The company will continue its journey to generate and fulfil demand for its brands to deliver a double-digit volume growth.
The company is looking to optimise packaging, processes and supply chain and reap benefits of operating leverage and economies of scale. The target is to achieve an Ebitda margin of 16 to 18 per cent on combined business. The company will focus on efficient capital deployment, disciplined debt management and working capital investments to reduce net debt/ Ebitda below 1.0-time.
The company looks to ride on the Pan-India distribution strength of Imperial Blue and Mansion House franchises to expand the luxury and premium portfolio.
