Tilaknagar Industries Ltd. has announced comprehensive changes to its leadership structure, with the Board of Directors approving significant modifications to Key Managerial Personnel (KMP) and Senior Management Personnel (SMP) positions on January 27, 2026. These changes follow the company's acquisition of the Imperial Blue Business and represent a strategic reorganization of internal roles and responsibilities.

Key Managerial Personnel Changes

The most significant change involves the Chief Financial Officer position, where Rajesh Choudhary has been appointed as the new CFO, replacing Abhinav Gupta who transitions to a new internal role. The leadership transitions are detailed below:

Abhinav Gupta, the former CFO, will relinquish his position as Key Managerial Personnel but remain as Senior Management Personnel in his new role as Chief of Internal Audit. Rajesh Choudhary, previously serving as Senior Vice President - Finance & Accounts, brings extensive experience to the CFO role. Minuzeer Bamboat, the existing Company Secretary & Compliance Officer, has been assigned additional responsibilities as Head - Legal.

New CFO Profile and Experience

Rajesh Choudhary brings over 29 years of professional experience to his new role, including more than 22 years in the alcoholic beverages industry, primarily with Pernod Ricard India Private Limited. As a Chartered Accountant, he possesses strong expertise across P&L management, financial strategy, integrated business planning, transformation, risk management, fund raising, and governance.

During his tenure at Pernod Ricard India, Choudhary held several leadership roles across finance and supply chain functions, including FP&A, pricing strategy, risk and assurance, marketing finance, and integrated business planning. He was part of the leadership team managing a USD 3 billion P&L for the South Asia region, supporting strategic planning, performance management, and value creation initiatives.

Senior Management Restructuring

The company has implemented several designation changes within its Senior Management Personnel structure to align with post-acquisition organizational needs:

Ameya Deshpande, in his new role as Chief Strategy Officer, will additionally oversee Human Resources function on an interim basis. Sai Amrutkumar Vegisetti has been newly included as Senior Management Personnel and will oversee the Information Technology function.

Authorized Personnel for Material Disclosures

The Board has authorized three Key Managerial Personnel for determining material events and making relevant disclosures to stock exchanges:

• Amit Dahanukar - Chairman & Managing Director
• Rajesh Choudhary - Chief Financial Officer
• Minuzeer Bamboat - Company Secretary, Compliance Officer & Head-Legal

These changes reflect the company's strategic approach to organizational restructuring following the Imperial Blue acquisition, positioning the leadership team to effectively manage the expanded business operations and responsibilities.

Tilaknagar Industries Limited has reported a strong market debut for Imperial Blue whisky, which achieved primary sales of 1.79 million cases in December 2025, marking its first month under the company's portfolio following acquisition. The performance validates the company's strategic decision to expand its brand portfolio and strengthens its position as a pan-India Indian-Made Foreign Liquor (IMFL) manufacturer.

Strong Performance Across Business Segments

The company's financial performance in December 2025 demonstrated robust growth across multiple segments:

According to Mr. Nishant Jain, President – Sales at Tilaknagar Industries, the first month performance reflects the strength of the company's execution capabilities and distribution network. The milestone marks an important step in accelerating the company's growth journey as a pan-India IMFL player.

Market Leadership in South India

Tilaknagar Industries has significantly strengthened its market position across South India, emerging as a dominant player in key segments. The company achieved second-largest national player status in the South IMFL industry with a 9.70% market share, while securing the largest player position in the Prestige & Above (P&A) segment with 32.00% market share.

State-wise Performance Highlights

Telangana Market Leadership:

Andhra Pradesh Strong Performance:

Karnataka Segment Leadership: In Karnataka, Tilaknagar Industries consolidated its leadership position by becoming the largest player in the Prestige & Above segment with a 39.00% market share, further strengthening its competitive position across the southern region.

Strategic Integration and Future Outlook

Ameya Deshpande, President Strategy & Corporate Development at Tilaknagar Industries, highlighted the company's expectations for the Imperial Blue integration process. As the integration progresses, the company anticipates unlocking operational and distribution synergies, improving supply-chain efficiencies, and driving margin expansion over the coming quarters.

The successful debut of Imperial Blue under Tilaknagar Industries' portfolio demonstrates the company's capability to effectively integrate acquired brands while maintaining strong performance across its existing business segments. The addition of Imperial Blue has positioned the company as a comprehensive pan-India IMFL player with enhanced market reach and brand portfolio depth.

Note: The volumes mentioned are primary volumes based on Management Information System maintained by the company and may differ from volumes in Q3 FY26 results due to IND-AS adjustments subject to limited review.