Tilaknagar Industries delivers robust volume & revenue

Tilaknagar Industries Ltd. (TI) has reported strong performance in the third quarter that ended December 31, 2025 (Q3 FY26), with total volumes surging 76.1 percent year-on-year to 53.1 lakh cases. The growth was driven by volumes of 17.9 lakh cases of Imperial Blue during December 2025 and 35.2 lakh cases from the Ex-Imperial Blue (Ex-IB) portfolio, which registered a steady 16.8 percent year-on-year growth.

For the nine months, total volumes rose 40.5 percent year-on-year to 119.3 lakh cases. Ex-Imperial Blue volumes stood at 101.4 lakh cases, marking a healthy 19.5 percent year-on-year growth, underscoring strong underlying demand and continued market share gains.

Net revenue in Q3 FY26 stood at ₹664 crore, reflecting a robust 95 percent year-on-year growth. Revenue adjusted for subsidy increased 89.2 percent year-on-year. Ex-IB net sales realisation improved to ₹1,209 per case in Q3 FY26 from ₹1,161 per case in Q3 FY25.

On the profitability front, EBITDA (adjusted for subsidy income) for Q3 FY26 stood at ₹90 crore, up 49.6 per cent year-on-year, with EBITDA margin at 14 percent. The advertising and promotional (A&P) reinvestment rate, as a percentage of subsidy-adjusted net revenue, increased to 1.2 percent from 1.1 percent in Q3 FY25, reflecting continued brand investments.

For 9M FY26, EBITDA (adjusted for subsidy income) rose 28.5 percent year-on-year to ₹206 crore, with EBITDA margin at 14.6 percent. The A&P reinvestment rate strengthened to 1.5 percent compared with 0.7 percent in the corresponding period last year, highlighting TI’s sustained focus on long-term brand building and premiumisation.

Amit Dahanukar, Chairman & Managing Director, TI said, “As we progress with the integration of Imperial Blue into our portfolio, we have established dedicated work-streams across operations, distribution, systems and human capital to ensure a smooth transition and synergy realization, strengthening our pan-India presence. With improving realizations, disciplined cost management and focused brand investments, we remain confident of driving sustainable profitable growth in the years ahead”.

A clearly defined strategic roadmap built around category leadership, premiumisation, margin expansion and accelerated deleveraging would help TI to remain focused on disciplined execution and sustainable value creation for all stakeholders, Amit added.