Tilaknagar Industries shares hit a 52-week high of Rs 184.8 on August 9 morning, a day after the alcoholic beverage company’s net profit grew 25 times year-on-year to Rs 25.7 crore in the June quarter.
Revenue increased 32.5 percent YoY to Rs 304 crore in Q1FY24. Earnings before interest, tax, depreciation and amortisation grew 76.8 percent to Rs 38.4 crore.
Sales volumes were up by 42 percent to 25 lakh cases in the quarter under review. “The company has outgrown the entire Indian Made Foreign Liquor (IMFL) industry,” chairman and managing director Amit Dahanukar said.
The IMFL industry was growing at 6 percent, while Tilaknagar Industries’ volumes increased 42 percent in Q1FY24, he said.
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The company, which owns brands like Madiraa, Courier Napoleon, and Mansion House, trimmed net debt to Rs 136 crore in the June quarter from Rs 182 crore in the previous quarter.
The company is in the final stages of re-financing its debt with Edelweiss ARC, which will offer immediate flexibility in managing cash flows and enabling investment, it said.
Tilaknagar Industries, which manufactures spirits like rum, vodka, whisky, and brandy, intends to be debt-free by 2025, the company said in its Q1FY24 investor presentation.
At 11 am, the stock was trading at Rs 182.15 on the National Stock Exchange, up 1.73 percent from the previous close. The stock was gained 56 percent since January 1.
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