5072052026-01-012026-03-315072052026-03-315072052025-03-315072052025-04-012026-03-315072052026-01-012026-03-31in-capmkt:OtherExpenses1Member5072052026-01-012026-03-31in-capmkt:OtherExpenses2Member5072052025-04-012026-03-31in-capmkt:OtherExpenses1Member5072052025-04-012026-03-31in-capmkt:OtherExpenses2Member5072052026-03-31OtherNoncurrentFinancialAssetsDomain15072052026-03-31OtherNoncurrentAssetsDomain15072052026-03-31OtherNoncurrentAssetsDomain25072052026-03-31OtherCurrentFinancialAssetsDomain15072052026-03-31OtherCurrentAssetsDomain15072052026-03-31OtherNoncurrentFinancialLiabilitiesDomain15072052026-03-31OtherNoncurrentFinancialLiabilitiesDomain25072052026-03-31OtherCurrentFinancialLiabilitiesDomain15072052026-03-31OtherCurrentFinancialLiabilitiesDomain25072052026-03-31OtherCurrentLiabilitiesDomain15072052026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15072052025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15072052026-01-012026-03-31AuditorDomain15072052026-01-012026-03-31in-capmkt:AuditedMember5072052026-03-31in-capmkt:AuditedMember5072052026-01-012026-03-31in-capmkt:AdjustedMember5072052026-03-31in-capmkt:AdjustedMember5072052026-01-012026-03-31OtherFinancialItemDomain1in-capmkt:AuditedMember5072052026-01-012026-03-31OtherFinancialItemDomain1in-capmkt:AdjustedMember5072052026-01-012026-03-31AuditQualification1iso4217:INRiso4217:INRxbrli:shares507205TINOTLISTEDINE133E01013Tilaknagar Industries LimitedMain BoardEquity2025-04-012026-03-312026-05-292026-05-25INRLakhsQuarterlyFourth quarterSingle segmentManufacturung and Sale of IMFL2026-05-2915:15:002026-05-2917:35:00trueCash Flow IndirectStatement on impact of audit qualification2026-01-012026-03-31AuditedConsolidated209012260007005900020971285000466465800004934000004285530006890840004552310001376883800020499764000471521000-625449000-1539280000000-1539280000004863000-14906500032569000-116496000-1490650000-116496000247170800010-0.6-0.600-0.6-0.6 Consol Notes: <BR> Sr No Particulars <BR> 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. <BR> <BR> 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. <BR> 3 The above results have been prepared by the Company in accordance with IND-AS 110: Consolidated Financial Statements and IND-AS 28: Accounting for Investments in Associate in Consolidated Financial Statements prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India. <BR> 4 The Group 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. <BR> 5 The Parent 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. <BR> 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. <BR> <BR> 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. <BR> 8 <BR> Exceptional Items includes : <BR> <BR> a) For the year ended March 31, 2026 <BR> <BR> i) Acquisition of Imperial Blue Business Division from Pernord Ricard India Private Limited: <BR> <BR> 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. <BR> <BR> 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. <BR> <BR> 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. <BR> <BR> 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. <BR> <BR> ii) Gratuity for Past Services : <BR> <BR> 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. <BR> <BR> 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. <BR> <BR> <BR> <BR> <BR> <BR> <BR> 9 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 <BR> a preferential basis. <BR> <BR> 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. <BR> 10 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. <BR> 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. <BR> 11 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. <BR> <BR> 13 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. <BR> <BR> 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. <BR> <BR> 14 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. <BR> 15 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. <BR> 16 The Standalone and Consolidated unaudited financial results of the Company for the quarter and year ended March 31, 2026 shall be available on the Company’s website (www.tilind.com) and on the website of BSE (www.bseindia.com) and NSE (www.nseindia.com). <BR> 17 The previous period figures have been regrouped and reclassified wherever necessary. <BR> 2025-04-012026-03-31AuditedConsolidated5247576100026081600052736577000134822330000-934075000969345000113059700079713300034765914000502111470002525430000-231965500020577500000002057750000002927000208702000554780002641800002087020000208702000247170800010273454100000.970.96000.970.96Excise Duty11406295000Other Expenses2362543000Excise Duty29019922000Other Expenses57459920004992100000602567000949655000317796350003230720002500005232730008465950005258690003969642100040189360001340001271794900021820460001421982000066580001632876900015566230002190432800061600749000247170800027345410000298171180002981711800020277262000250958100022786843000222619000230094620002671942000418142000295100400033691460007007500006741838000977456000105487500087741690003178363100061600749000Other non-current financial assets523273000Other non-current assets438826000Tax - Non Current asset ( Net)87043000Other current financial assets6658000Other current assets1556623000Lease Liabilities38460000Other financial Liabilities2471121000Lease Libailities24411000Other current financial liabilities676339000Other current liabilities9774560001130596000-2385053000-86208590000000-13892590000005905631000079713400000000001028660001716500000-11898300015208500000-4614409000-4408634000000372490000-44458830000001066290000000425000353341080008296838000811052300000000000000000010286600000-550936000-35702067000002097289800000000242000000001842669000145240001930470008842940000-65775000421725890002024639000020246390001574070002182046000Defined benefit Plans3256900032569000Defined benefit Plans5547800055478000003256900055478000AuditedQualified opinionM/s Harshil Shah & COtrue2026-06-30527365770005273657700050211147000502111470002057750002057750000.970.97616007490006160074900031783631000317836310002981711800029817118000Exceptional Item Income (Expenses) [Above Net profit figure includes exceptional item]Exceptional Item Income (Expenses) [Above Net profit figure includes exceptional item]-2319655000-2319655000The Holding Company has not carried out impairment assessment of one of the ENA plant 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. 5 of the consolidated annual financial results.Qualified opinionRepetitiveNANAResponse to Point (II)(a)(i) <br></br> <br></br> The Parent 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. <br></br> <br></br> Refer II (a) (i) above <br></br> <br></br> Amit DahanukarRajesh ChoudharyAparna ChaturvediHarshil Shah & CompanyHimmat sharma ( Partner)Mumbai2026-05-29