Revenue from operations (excluding excise duty) declined 9.63% year on year (YoY) to Rs 340.43 crore in the quarter ended 31 December 2024, due to RTM transition and associated price reduction in Andhra Pradesh.
Profit before tax jumped 23.71% YoY to Rs 54.15 crore in the third quarter of FY25.
EBITDA jumped 17.4% to Rs 60 crore during the December 2024 quarter as against Rs 51 crore reported in same quarter last year. EBITDA margin improved to 17.7% in Q3 FY25 compared to 13.6% recorded in the corresponding quarter previous year.
Primary volumes grew 2.3% to 30.1 million cases and secondary volumes grew 9.2% over the same period, while NSR stands at Rs 1,161 per case.
On a 9-month basis, the company’s net profit jumped 42.88% to Rs 152.25 crore on 4.83% rise in revenue from operations to Rs 2,293.43 crore in 9M FY24 over 9M FY23.
Amit Dahanukar, chairman & MD, tilaknagar industries, said, “Q3 FY25 has been on expected lines in terms of volume performance. The transition due to the change in RTM that the industry went through in Andhra Pradesh not only impacted our volumes but also our revenues, with Mansion House Brandy taking a price reduction in the state. However, despite the reduction in NSR, our EBITDA saw significant growth in absolute terms as well as margins on the back of reduced S&D spends. We also witnessed a slight improvement in EBITDA per case over last quarter.
With the transition period more or less behind us, we expect to continue our growth trajectory in Andhra Pradesh. Moreover, while the primary volumes degrew in the state, our secondary volumes grew, with December market share exceeding our best achieved market shares even before the change in RTM.
I am also very proud of our performance in the other states. We achieved our highest volumes in Karnataka in Q3 and continue to grow market share in Telangana, Kerala, and Puducherry. Q3 also saw us fully repaying our term loan with Kotak Bank, and we now have a gross debt of Rs 45 crore while continuing to be net debt-free.
Our foray into luxury, craft, and premium spirits has truly begun, with Monarch Legacy Edition Brandy getting very positive feedback from trade and consumers. We will now look to further penetrate within these segments, with Samsara Gin being the next play through our royalty arrangement with Spaceman Spirits Lab.”
Tilaknagar Industries is an alcoholic beverage company. The company primarily manufactures, markets, and distributes spirits. The company's product portfolio includes whisky, brandy, rum, vodka, and gin.
Shares of Tilaknagar Industries declined 1.34% to Rs 395 on the BSE.