Tilaknagar Industries’ net profit surges in Q4

Tilaknagar Industries Limited has reported a 20.9 percent increase in its net profit (excluding exceptional items) at Rs 39.5 crore in the quarter ended March 2024 as against Rs 32.7 crore in the corresponding period of the previous fiscal.

The company recorded a rise in revenue to Rs 358.8 crore in the January-March 2024 quarter as against Rs 357.4 crore in the same period a year ago.

The company’s Earnings Before Interest Tax Depreciation and Amortization (EBITDA) improved by 10.9 percent to reach Rs 48.2 crore in the quarter under review as against Rs 43.5 crore in the corresponding quarter of the previous fiscal. Tilaknagar Industries’ EBITDA margin improved by 128 basis points (bps), standing at 13.4 percent in the quarter ended March 2024 as against 12.2 percent in the corresponding period of the previous fiscal.

In the quarter ended March 2024, the company’s sales volumes increased to 28.5 lakh cases as against 28.4 lakh cases in the same period last year. As on 31st March 2024, the company’s gross and net debt stood at Rs. 119 crore and Rs 74 crore, respectively. In FY24, Tilaknagar Industries reduced its gross debt by more than Rs 130 crore. The company aims to be net-debt free over the course of FY25. Additionally, the company has also seen a reduction in interest rate on Kotak loan from 13 percent to 9.95 percent, effective mid Q1 FY25.