Tilaknagar Industries Independent Director tenure ends

Mr. Kishorekumar Ganpatrao Mhatre ceased to be an Independent Director of Tilaknagar Industries Ltd with effect from the close of business hours on June 08, 2026, upon completion of his second consecutive term of five years. Consequently, he has also stepped down from his positions as Chairman of the Nomination and Remuneration Committee and as a member of the Audit Committee and Risk Management Committee. The Board of Directors and the Management have placed on record their appreciation for his contributions and guidance during his tenure.

The intimation was submitted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Details of Cessation

The following table outlines the specifics regarding the change in directorship:

Sr. No	Particulars	Details
1.	Reason for Change	Cessation of Mr. Kishorekumar Ganpatrao Mhatre (DIN: 07527683) as an Independent Director of the Company with effect from the close of business hours on June 08, 2026 upon completion of his second consecutive term of five years and consequently he has also ceased to be Chairman of Nomination and Remuneration Committee and member of Audit Committee and Risk Management Committee.
2.	Date of cessation	With effect from the close of business hours on June 08, 2026
3.	Brief Profile	Not Applicable
4.	Disclosure of relationship	Not Applicable

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.61%	+4.24%	-5.95%	-2.91%	+26.70%	+1,078.59%

Tilaknagar Industries Ltd. reported a 148% year-on-year increase in net revenue to INR 949 crore for Q4FY26, driven by the inclusion of the Imperial Blue business division. The company achieved an overall volume of 8 million cases during the quarter, with Imperial Blue contributing 4.6 million cases. EBITDA for the quarter stood at INR 155 crore, reflecting a 97% growth with a margin of 16.3%. For the full year FY26, revenues grew by 70% to reach INR 2,346 crore, while EBITDA increased by 64% to INR 419 crore.

The company disclosed the transcript of its earnings conference call held on May 30, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Amit Dahanukar, Chairman and Managing Director, highlighted that Mansion House Brandy crossed the volume benchmark of 10 million cases in FY26, cementing its position as India's largest Prestige and Above (P&A) brandy.

Financial Performance

Management noted a change in presentation regarding revenue recognition, where selling expenses are now deducted from gross revenue rather than shown under other expenses. This change negatively impacts reported revenue and gross margins but positively impacts EBITDA and PAT margins. Net Sales Realisation (NSR) increased by 5.4% to INR 1,177 per case in Q4FY26 from INR 1,116 per case in Q4FY25.

Metric	Q4FY26	YoY Growth
Net Revenue	INR 949 crore	148%
EBITDA	INR 155 crore	97%
EBITDA Margin	16.3%	-
Overall Volume	8 million cases	135%
FY26 Revenue	INR 2,346 crore	70%
FY26 EBITDA	INR 419 crore	64%

Operational Highlights and Guidance

The company received government approval to expand capacity at its Prag facility in Andhra Pradesh from 6 lakh cases per annum to 36 lakh cases per annum, entailing an investment of INR 59 crore. This expansion is expected to generate savings of INR 10 crore per annum in bottling costs. On the integration front, 75% of the Imperial Blue business has exited the Third-Party Supply and Manufacturing Agreement (TSMA), with the remaining transition expected by March 2027.

For FY27, the company expects high-single digit to low-double digit volume growth for the combined business. It targets consolidated EBITDA margins of 16%-18% over the next 24 to 36 months. The Board of Directors has recommended a dividend of INR 1 per share for FY25-'26. As on March 31, 2026, gross debt stood at INR 2,295 crore and net debt at INR 1,911 crore.