Tilaknagar Industries logs 48% y-o-y growth in Q1FY23 Revenue; stock slips ~3%

16 Aug 2022 , 02:17 PM

Tilaknagar Industries Limited announced its results for the quarter ended June 30, 2022.

The leading Indian-Made Foreign Liquor (IMFL) manufacturer, has clocked a 48% y-o-y rise in revenue at Rs481.19 crore in Q1FY23, up from Rs324.34 crore in the previous corresponding quarter.

The company’s Profit After Tax (PAT) stood at Rs1.04 crore in the quarter ended June 2022, up by 189.19% yoy as against a net profit of Rs0.37 crore in the previous corresponding quarter.

TI’s sales volumes continued to surge well beyond the pre-pandemic level recording a 59% yoy jump at 17.66 lakh cases in the quarter under review as against 11.09 lakh cases in the same quarter the previous year.

The company’s Earnings Before Interest Tax Depreciation and Amortization (EBITDA) was reported at Rs21.70 crore in Q1FY23 as compared to Rs23.40 crore in the same quarter last year, down by 7.26% yoy.

In FY23, Tilaknagar Industries has reportedly raised Rs85 crore by way of a preferential issue of equity shares and warrants to its long-term channel partners in the important southern states of Kerala, Andhra Pradesh, and Telangana.

“While cost strain is expected to persist over the next quarter or two, we are taking the necessary steps to sustain our margins by focusing on cost optimization and passing on the increased costs to the markets,” commented Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries.

At around 2.24 PM, Tilaknagar Industries was trading at Rs74.65 down by Rs2.5 or 3.24% from its previous closing of Rs77.15 on the BSE. The scrip touched intraday high and low of Rs78.20 and Rs74 respectively.