Integrated Filing — IndAS



General information about company

Scrip Code 507205
NSE Symbol TI
MSEI Symbol NOTLISTED
ISIN INE133E01013
Name of company TILAKNAGAR INDUSTRIES LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 29-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 25-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Manufacturing and sale of IMFL
Start date and time of board meeting 29-05-2026   15:15:00
End date and time of board meeting 29-05-2026   17:35:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public No
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. No
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 29-05-2026
Indicate Company website link for updated RPT policy of the Company https://tilind.com/codes-and-policies/
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? Yes
No. of times funds raised during the quarter 1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Standalone Notes Sr No Particulars 1 The above standalone results have been reviewed by the Audit Committee and approved by the Board of Directors at its Meeting held on May 29, 2026. The Statutory Auditors have completed the audit of the financial results and have expressed qualified opinion. 2 The above results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 3 The Company is predominantly engaged in the business of manufacture and sale of Indian Made Foreign Liquor (IMFL) and its related products, which constitute a single business segment as per IND-AS 108: Operating Segments. Accordingly there is no other separate segment. 4 The Company expects to restart the grain distillery plant post incurring of relevant capital expenditure. In view of this, the management believes that there is no impairment in value of its ENA Plant and hence the recoverable amount of the ENA Plant is not required to be estimated. 5 Exceptional Items includes : a) For the year ended March 31, 2026 i) Acquisition of Imperial Blue Business Division from Pernord Ricard India Private Limited During the quarter ended December 31, 2025, the Company had completed the acquisition of the Imperial Blue business division (“IB”) from Pernod Ricard India Private Limited (“PRI”) pursuant to a Business Transfer Agreement executed on July 23, 2025, through a slump sale on a going concern basis. The transaction was completed for a lump-sum cash consideration of Rs. 3,442 crores, subject to post-closing adjustments in accordance with the terms of the Business Transfer Agreement. In addition, a deferred consideration of EUR 28 million (approximately Rs. 290 crores) is payable after four years from the date of closure of the transaction. The Competition Commission of India (CCI) approved the transaction on October 07, 2025, and the acquisition was completed on December 01, 2025. Pursuant to the acquisition, the Company has acquired the Imperial Blue brand and allied trademarks, including Imperial Black and Imperial Red, along with associated intellectual property. The Company has entered into a Trademark License Agreement for use of the “Seagram’s” trademark for a defined transition period, a long-term supply agreement for Concentrated Alcoholic Beverage (CAB), and a Transitional Services and Manufacturing Agreement (TSMA) with PRI to facilitate a smooth transition. The manufacturing footprint includes two owned units in Punjab and Maharashtra and two exclusive sub-leased units in Telangana and Punjab, along with access to shared units during the TSMA period. The Company has accounted for this acquisition in accordance with Ind AS 103 - Business Combination. The deferred consideration has been recognised at its fair value as at the acquisition date. Acquisition-related expenses, being non-recurring in nature, have been disclosed under “Exceptional Items” in the standalone financial results amounting to Rs. 5,064.66 lakhs for the quarter ended March 31, 2026 and Rs. 2,2006.72 lakhs for the year ended March 31, 2026. ii) Gratuity On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively new Labour Codes) - consolidating 29 existing labour laws. In accordance with the new Labour Codes, the Company has currently estimated the incremental impact on retiral benefits to be Rs 1,189.83 lakhs for the year ended March 31, 2026. Considering material, regulatory-driven and non-recurring nature of this impact, this has been presented under Exceptional Items in the financial results. The Company continues to monitor developments on the Rules to be notified by regulatory authorities, including clarifications/additional guidance from authorities and will continue to assess the accounting implications, basis such developments/guidance. b) For the year ended March 31, 2025: Over the years, the net worth of “PunjabExpo Breweries Private Ltd a wholly owned subsidiary (referred as PE) had been fully eroded despite attempts to rationalize its administrative overheads. In the year 2022-2023 the company had assessed the situation and concluded that there is no sufficient visibility on PE northern business and return on investments. The company accordingly provided for impairment of the equity investments in PE of Rs 2,680.39 lacs in its books of accounts under exceptional items for the quarter and year ended March 31, 2023. In the following years, the management of PE increased / rationalised the capacity utilisation and contract manufacturing rates for bottling carried on for the holding company. Consequent to the financial restructuring and steps taken by PE, efficiency has improved resulting in profit during the year and positive networth at the year end. The company reassessed the value of its equity investment through an independent valuation exercise at Rs 1,002.24 lacs. The provision created in 2022-2023 was thus written back for Rs 1,002.24 lacs under exceptional items for the quarter and year ended March 31, 2025. 6 The Revenue from Operations includes Rs 858.45 lacs for the quarter ended March 31, 2026 and Rs 6,692.44 lacs for the year ended March 31, 2026, received as partial Subsidy from Government of Maharashtra under Package Scheme of Incentives, 2007, relating to past investments. 7 A body corporate had filed a suit in the Bombay High Court in 2009 disputing ownership of one of the Company’s brands, against which the Company filed a counterclaim. By order dated December 22, 2011, the Court ruled in favor of the Company, permitting unrestricted nationwide use of the brand. An appeal against this order was dismissed by the Division Bench on July 16, 2025, thereby affirming the Company’s rights. Separately, a Single Bench order dated February 7, 2025 had permitted the body corporate’s assignee to use the brand name in West Bengal; however, this order was stayed and subsequently set aside by the Division Bench on July 16, 2025, pursuant to the Company’s appeal, and the assignee undertook not to act upon it. The body corporate challenged the Division Bench decision before the Supreme Court, which on September 16, 2025 upheld the July 16, 2025 order and disposed of the Special Leave Petitions, resulting in the body corporate and its assignee being restrained from using the brand name until final adjudication of the suit and the cancellation of permission granted to the assignee of the Body Corporate in West Bengal. The matter is presently pending before the Bombay High Court, where the Assignee of the Body Corporate has filed their evidence and the Company has filed an interim application to file additional written statement, this interim application of the Company is allowed and the matter is adjourned to 15th June, 2026, the body corporate has informed the Court that they will be filing their evidence before the scheduled date. Meanwhile, the Company continues uninterrupted and exclusive use and sale of goods under the brand. 8 During the quarter ended September 30, 2025, the Company had allotted the issue of 1,43,80,000 Equity Shares of face value Rs. 10/- each (“Equity Shares”) for cash at a price of Rs. 382/- per equity share (including a premium of Rs. 372/- per equity share) for an amount aggregating to Rs. 5,49,31,60,000/- to the persons belonging to the non-promoter category on a preferential basis. Further the Company had issued 4,57,15,000 Convertible Warrants (“Warrants”) for cash at a price of Rs. 382/- per warrant (including a premium of Rs. 372/- per Warrants) for an amount aggregating to Rs. 1,746,31,30,000/- to the persons belonging to the promoter & non-promoter category on a preferential basis. An amount equivalent to Rs 15,43,75,75,000/- was received by the company till the period ended March 31, 2026. 9 Rebates, discounts, and similar incentives extended to customers and distributors, being directly attributable to sales transactions, have been presented as a deduction from Revenue from Operations / Gross Sales. Consequently, revenue from operations for the current quarter as well as the corresponding comparative periods has been reported net of such amounts. This presentation is purely a matter of classification and does not affect the Company’s profit before tax, profit after tax, earnings per share, cash flows, or total equity. 10 The Income Tax Department conducted a search operation under section 132 of the Income Tax Act,1961 on 2nd February’24 at the premises of the Company and key persons. The Deputy Commissioner of Income tax (DCIT) has reassessed the income pursuant to the search and has passed the assessment orders from AY 2016-17 to AY 2024-25. Certain additions/disallowances were made to the returned income of the company against which the company had filed an appeal before the Commissioner of Income-tax (Appeals) – CIT(A). Subsequently, an order under section 250 of the Act was passed by the Hon’ble CIT (A) wherein a partial relief amounting to Rs 16869.11 lakhs was granted. Based on the Company’s risk-assessment process and applicable laws, there is no material impact on the financial position, operation, or other activities of the Company. The company will be filing further appeals before the Tribunal against the above CIT(A) orders and expects a favourable outcome. 11 The Board of Directors of the Company “Transferee Company” at their Board Meeting held on May 29, 2026, approved the Composite Scheme of Amalgamation under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 read with relevant rules and regulations. The Scheme, inter alia, provides for amalgamation of two wholly-owned subsidiaries of the Company, viz. (i) Punjabexpo Breweries Private Limited; (ii) Vahni Distilleries Private Limited; collectively referred to as the “Transferor Companies” and individually referred to as the “Transferor Company” with and into the transferee company. The appointed date for the Scheme is proposed to be 1 April 2026 or such other date as may be approved by the Hon’ble National Company Law Tribunal(s) for the purposes of the Scheme. The Scheme shall be subject to necessary approvals by the Shareholders, Creditors, Jurisdictional Bench of National Company Law Tribunal (“NCLT”) and other statutory and regulatory authorities, as may be required. 12 The Board of Directors recommended payment of Dividend of Rs. 1/- per equity share of Rs. 10/- each for the financial year ended March 31, 2026 subject to the approval of the Members at the ensuing Annual General Meeting. 13 The figures for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the financial year. 14 The previous period figures have been regrouped and reclassified wherever necessary.



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 2,09,012.09 5,24,757.44
Other income 444.84 2,502.14
Total income 2,09,456.93 5,27,259.58
2 Expenses
(a) Cost of materials consumed 46,646.58 1,34,822.33
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 4,934.00 (9,340.75)
(d) Employee benefit expense 4,198.39 9,373.67
(e) Finance costs 6,890.84 11,305.97
(f) Depreciation, depletion and amortisation expense 4,510.91 7,804.10
(f) Other Expenses
1 Excise Duty 1,14,062.95 2,90,199.22
2 Other Expenses 23,647.82 57,843.66
Total other expenses 1,37,710.77 3,48,042.88
Total expenses 2,04,891.49 5,02,008.20
3 Total profit before exceptional items and tax 4,565.44 25,251.38
4 Exceptional items (6,254.49) (23,196.55)
5 Total profit before tax (1,689.05) 2,054.83
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 0.00 0.00
9 Total tax expenses 0.00 0.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (1,689.05) 2,054.83
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period (1,689.05) 2,054.83
17 Other comprehensive income net of taxes 317.72 550.29
18 Total Comprehensive Income for the period (1,371.33) 2,605.12
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 24,717.08 24,717.08
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 2,75,456.96
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.68 0.96
Diluted earnings (loss) per share from continuing operations -0.68 0.95
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.68 0.96
Diluted earnings (loss) per share from continuing and discontinued operations -0.68 0.95
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 47,830.96
Capital work-in-progress 1,649.65
Investment property 585.16
Goodwill 9,496.55
Other intangible assets 3,17,796.32
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 6,338.35
Trade receivables, non-current
Loans, non-current 2.50
Other non-current financial assets
1 Other non-current financial assets 5,107.66
2 Other non-current assets 0.00
Total of other non-current financial assets 5,107.66
Total non-current financial assets 11,448.51
Deferred tax assets (net) 0.00
Other non-current assets
1 Other non-current assets 3,902.30
2 Tax - Non Current asset ( Net) 841.75
Total of other non-current assets 4,744.05
Total non-current assets 3,93,551.20
2 Current assets
Inventories 40,189.36
Current financial asset
Current investments 1.34
Trade receivables, current 1,27,181.32
Cash and cash equivalents 21,737.94
Bank balance other than cash and cash equivalents 14,148.75
Loans, current 5,661.87
Other current financial assets
Total of other current financial assets 60.55
Total current financial assets 1,68,791.77
Current tax assets (net)
Other current assets
1 Other current assets 14,890.90
Total of other current assets 14,890.90
Total current assets 2,23,872.03
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 6,17,423.23
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 24,717.08
Other equity 2,75,456.96
Total equity attributable to owners of parent 3,00,174.04
Non controlling interest
Total equity 3,00,174.04
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 2,02,772.62
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities
1 Lease Liabilities 384.60
2 Other Financial Liabilities 24,711.21
Total of other non-current financial liabilities 25,095.81
Total non-current financial liabilities 2,27,868.43
Provisions, non-current 2,139.64
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 2,30,008.07
Current liabilities
Current financial liabilities
Borrowings, current 26,605.42
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 4,170.36
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 29,388.73
Total Trade payable 33,559.09
Other current financial liabilities
1 Other current financial liabilities 6,558.96
2 Lease Liabilities 244.11
Total of other current financial liabilities 6,803.07
Total current financial liabilities 66,967.58
Other current liabilities 9,733.34
1 Other current liabilities 9,733.34
Total of other current liabilities 9,733.34
Provisions, current 10,540.20
Current tax liabilities (Net)
Deferred government grants, Current
Total current liabilities 87,241.12
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 3,17,249.19
Total equity and liabilites 6,17,423.23
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement gain / ( loss) in respect of the defined benefit plans 317.72 550.29
Total Amount of items that will not be reclassified to profit and loss 317.72 550.29
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income 317.72 550.29



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 2,054.83
Adjustments for reconcile profit (loss)
Adjustments for finance costs 11,305.96
Adjustments for decrease (increase) in inventories (23,850.53)
Adjustments for decrease (increase) in trade receivables, current (86,210.58)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current (13,003.05)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 0.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 58,818.52
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 7,804.11
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 1,271.64
Adjustments for share-based payments 171.65
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) (1,189.83)
Other adjustments for non-cash items 1,520.85
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (45,904.54)
Net cash flows from (used in) operations (43,849.71)
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 379.35
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (44,229.06)
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 1,067.29
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 4.25
Purchase of property, plant and equipment 3,48,893.93
Proceeds from sales of investment property 82,968.38
Purchase of investment property 81,105.23
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 1,271.64
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (10,445.49)
Net cash flows from (used in) investing activities (3,57,267.67)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 2,09,728.98
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 2,42,000.00
Repayments of borrowings 18,426.69
Payments of lease liabilities 145.24
Dividends paid 1,930.47
Interest paid 8,842.94
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (657.75)
Net cash flows from (used in) financing activities 4,21,725.89
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 20,229.16
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 20,229.16
Cash and cash equivalents cash flow statement at beginning of period 1,508.78
Cash and cash equivalents cash flow statement at end of period 21,737.94





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M/s Harshil Shah & Co Yes 30-06-2026


Financial details

Amount in (Lakhs)

Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 5,27,259.58 5,27,259.58
2 Total Expenditure 5,02,008.20 5,02,008.20
3 Net Profit/(Loss) 2,054.83 2,054.83
4 Earnings Per Share 0.96 0.96
5 Total Assets 6,17,423.23 6,17,423.23
6 Total Liabilities 3,17,249.19 3,17,249.19
7 Net Worth 3,00,174.04 3,00,174.04
8 Exceptional Item Income (Expenses) [Above Net profit figure includes exceptional item] (23,196.55) (23,196.55)


Audit qualification

Amount in (Lakhs)

Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)


Text Block

Textual Information(1) The Company has not carried out impairment analysis of one of the ENA plants that is not in operation, as required by Indian Accounting Standard (Ind AS 36) Impairment of Assets though there is an indication of impairment. Reference is invited to Note no. 4 of the standalone annual financial results.
Textual Information(2) NA
Textual Information(3) NA
Textual Information(4) The Company expects to restart the grain distillery plant post incurring of relevant capital expenditure. In view of this, the management believes that there is no impairment in value of its ENA Plant and hence the recoverable amount of the ENA Plant is not required to be estimated.
Textual Information(5) Refer II (a) (i) above


Signatories detail

Name of CEO / Managing director Amit Dahanukar
Name of CFO Rajesh Choudhary
Name of audit committee chairman Aparna Chaturvedi
Name of statutory auditor Harshil Shah & Company
Name of other signatory, if any, with designation Himmat sharma ( Partner)
Place Mumbai
Date 29-05-2026


Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)

Amount in (Lakhs)

Mode of Fund Raising Preferential Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 20-09-2025
Amount Raised 2,29,363.00
Report filed for Quarter ended 31-03-2026
Monitoring Agency Applicable
Monitoring Agency Name, if applicable CRISIL Ratings Limited
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation
Comments of the Audit Committee after review
Comments of the auditors, if any
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any
1 1. Acquisition of Business Undertaking of Pernod Ricard India Private Limited, as a going concern on a slump sale basis related to the business of production, bottling, marketing and sale of alcoholic and other beverages under the Imperial Blue Brands. No deviation from original object 1,30,000.00 1,30,000.00 1,29,678.00 0.00 No deviation
2 Working Capital No deviation from original object 50,000.00 50,000.00 49,949.00 0.00 No deviation
3 For general corporate purposes No deviation from original object 49,563.00 49,563.00 29,680.00 0.00 No deviation


Signatory Details

Name of signatory Rajesh Choudhary
Designation of person Chief Financial Officer
Place Mumbai
Date 29-05-2026




Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 Tilaknagar Industries Ltd Amit Dahanukar Chairman and Managing Director Remuneration 243.25 Approved 243.25 0.00 0.00
2 Tilaknagar Industries Ltd Shivani Amit Dahanukar Executive Director Remuneration 143.89 Approved 143.89 0.00 0.00
3 Tilaknagar Industries Ltd C R Ramesh Whole Time Director Remuneration 36.82 Approved 36.82 0.00 0.00
4 Tilaknagar Industries Ltd C R Ramesh Whole Time Director Any other transaction ESOP Perquisites 85.40 Approved 85.40 0.00 0.00
5 Tilaknagar Industries Ltd Abhinav Gupta Chief Financial Officer Remuneration 118.87 Approved 118.87 0.00 0.00
6 Tilaknagar Industries Ltd Abhinav Gupta Chief Financial Officer Any other transaction ESOP Perquisites 153.44 Approved 153.44 0.00 0.00
7 Tilaknagar Industries Ltd Minuzeer Bamboat Company Secretary Remuneration 73.69 Approved 73.69 0.00 0.00
8 Tilaknagar Industries Ltd Minuzeer Bamboat Company Secretary Any other transaction ESOP Perquisites 53.07 Approved 53.07 0.00 0.00
9 Tilaknagar Industries Ltd Rajesh Choudhary Chief Financial Officer Remuneration 32.51 Approved 32.51 0.00 0.00
10 Tilaknagar Industries Ltd Rajesh Choudhary Chief Financial Officer Any other transaction Perquisites ( House rent) 0.78 Approved 0.78 0.00 0.00
11 Tilaknagar Industries Ltd Sanaya Amit Dahanukar Relative of Key Managerial Personnel Remuneration 11.28 Approved 11.28 0.00 0.00
12 Tilaknagar Industries Ltd Amit Dahanukar Chairman and Managing Director Any other transaction Rent Expenses 9.11 Approved 9.11 0.00 0.00
13 Tilaknagar Industries Ltd Dr. Priyadarshini A. Dahanukar Relative of Key Managerial Personnel Any other transaction Rent Expenses 29.61 Approved 29.61 0.00 0.00
14 Tilaknagar Industries Ltd Amit Dahanukar Chairman and Managing Director Any other transaction Rent Deposit 0.00 Approved 0.00 800.00 800.00
15 Tilaknagar Industries Ltd Dr. Priyadarshini A. Dahanukar Relative of Key Managerial Personnel Any other transaction Rent Deposit 0.00 Approved 0.00 203.66 203.66
16 Tilaknagar Industries Ltd M.L.Dahanukar & Co. Pvt. Ltd. Company in which Key Managerial Personnel has substantial interest Any other transaction Rent Deposit 0.00 Approved 0.00 15.00 15.00
17 Tilaknagar Industries Ltd Kishore Kumar Mathre Independent Director Any other transaction Directors Sitting Fees 4.00 Approved 4.00 0.00 0.00
18 Tilaknagar Industries Ltd Maj Gen. Dilawar Singh (Retd.) Independent Director Any other transaction Directors Sitting Fees 4.25 Approved 4.25 0.00 0.00
19 Tilaknagar Industries Ltd Satish Chand Mathur Independent Director Any other transaction Directors Sitting Fees 1.00 Approved 1.00 0.00 0.00
20 Tilaknagar Industries Ltd Swapna Shah Non Executive Director Any other transaction Directors Sitting Fees 2.75 Approved 2.75 0.00 0.00
21 Tilaknagar Industries Ltd Aparna Chaturvedi Independent Director Any other transaction Directors Sitting Fees 2.50 Approved 2.50 0.00 0.00
22 Tilaknagar Industries Ltd C R Ramesh Whole Time Director Any other transaction Directors Sitting Fees 1.50 Approved 1.50 0.00 0.00
23 Tilaknagar Industries Ltd Mr. Jenamejayan Kamalam Shivan Independent Director Any other transaction Directors Sitting Fees 1.50 Approved 1.50 0.00 0.00
24 Tilaknagar Industries Ltd PunjabExpo Breweries Pvt Ltd Subsidiary Company Sale of goods or services 2.39 Approved 2.39 0.00 0.00
25 Tilaknagar Industries Ltd PunjabExpo Breweries Pvt Ltd Subsidiary Company Purchase of goods or services 45.09 Approved 45.09 0.00 0.00
26 Tilaknagar Industries Ltd Prag Distilleries Pvt. Ltd. Subsidiary Company Any other transaction Contract manufacturing expenses 246.29 Approved 246.29 0.00 0.00
27 Tilaknagar Industries Ltd Vahni Distilleries Private Limited Subsidiary Company Any other transaction Contract manufacturing expenses 411.02 Approved 411.02 0.00 0.00
28 Tilaknagar Industries Ltd PunjabExpo Breweries Pvt Ltd Subsidiary Company Any other transaction Contract manufacturing expenses 140.47 Approved 140.47 0.00 0.00
29 Tilaknagar Industries Ltd Vahni Distilleries Private Limited Subsidiary Company Interest received 21.96 Approved 21.96 0.00 0.00
30 Tilaknagar Industries Ltd Prag Distilleries Pvt. Ltd. Subsidiary Company Interest received 164.07 Approved 164.07 0.00 0.00
31 Tilaknagar Industries Ltd Vahni Distilleries Private Limited Subsidiary Company Any other transaction Lease rent income 3.08 Approved 3.08 0.00 0.00
32 Tilaknagar Industries Ltd Prag Distilleries Pvt. Ltd. Subsidiary Company Loan 0.00 Approved 1,459.23 3,583.50 5,042.73 Loan 7.700 Repayable on demand Unsecured Loan given to meet the expenses of Subsidiary company Textual Information(1)
33 Tilaknagar Industries Ltd Vahni Distilleries Private Limited Subsidiary Company Loan 0.00 Approved (60.92) 630.43 569.51 Loan 7.700 Repayable on demand Unsecured Loan given to meet the expenses of Subsidiary company Textual Information(2)
34 Tilaknagar Industries Ltd Shivprabha Sugars Ltd Subsidiary Company Loan 0.00 Approved 0.33 48.30 48.63 Loan 0 Repayable on demand Unsecured Loan given to meet the expenses of Subsidiary company Textual Information(3)
35 Tilaknagar Industries Ltd Grain & Grape Works Pvt Ltd. Subsidiary Company Loan 0.00 Approved 0.00 1.00 1.00 Loan 0 Repayable on demand Unsecured Loan given to meet the expenses of Subsidiary company Textual Information(4)
36 Tilaknagar Industries Ltd Shrimati Malati Dahanukar Trust Company in which Key Managerial Personnel has substantial interest Any other transaction Corporate Social Resposibility Expenses 24.00 Approved 0.00 0.00 0.00
37 Tilaknagar Industries Ltd Vahni Distilleries Private Limited Subsidiary Company Any other transaction Lease rent receivable 0.00 Approved (2.40) 4.43 2.03 Textual Information(5)
38 Tilaknagar Industries Ltd PunjabExpo Breweries Pvt Ltd Subsidiary Company Any other transaction Contarct manufacturing expenses payable 0.00 Approved 5.13 (48.90) (43.77) Textual Information(6)
39 Tilaknagar Industries Ltd Spaceman Spirits Lab Pvt Ltd Associated Company Any other transaction Royalty Expenses 25.19 Approved (12.77) 2.72 (10.05) Textual Information(7)
40 Tilaknagar Industries Ltd Spaceman Spirits Lab Pvt Ltd Associated Company Purchase of goods or services 6.08 Approved 1.48 0.00 (1.48) Textual Information(8)
41 Tilaknagar Industries Ltd Swapna Shah Non Executive Director Any other transaction Consultancy Charges 9.00 Approved 9.00 0.00 0.00
Total value of transaction during the reporting period 3,442.67



Text Block

Textual Information(1) The net transactions movment between the opening and closing balances are reflected in transactions column as positive sign for net further loans given and negative sign for loans repaid by the parties.
Textual Information(2) The net transactions movment between the opening and closing balances are reflected in transactions column as positive sign for net further loans given and negative sign for loans repaid by the parties.
Textual Information(3) The net transactions movment between the opening and closing balances are reflected in transactions column as positive sign for net further loans given and negative sign for loans repaid by the parties.
Textual Information(4) The net transactions movment between the opening and closing balances are reflected in transactions column as positive sign for net further loans given and negative sign for loans repaid by the parties.
Textual Information(5) The net transactions movment between the opening and closing balances are reflected in transactions column as positive sign for paid and n and negative sign for recived from the parties.
Textual Information(6) The net transactions movment between the opening and closing balances are reflected in transactions column as positive sign for paid and n and negative sign for recived from the parties.
Textual Information(7) The net transactions movment between the opening and closing balances are reflected in transactions column as positive sign for paid and n and negative sign for recived from the parties.
Textual Information(8) The net transactions movment between the opening and closing balances are reflected in transactions column as positive sign for paid and n and negative sign for recived from the parties.