Breweries & Distilleries company Tilaknagar Industries announced Q3FY25 results Net revenue from operations stands at Rs 340 crore v/s Rs 377 crore; due to RTM transition and associated price reduction in Andhra Pradesh. EBITDA improved by 17.4% to Rs 60 crore v/s Rs 51 crore. EBITDA margin improved by 408 basis points, standing at 17.7% as against 13.6%. PAT excl. exceptional items increased by 23.2% to Rs 54 crore from Rs 44 crore. Reported EPS (Diluted) stood at Rs 2.77 per share. 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. Amit Dahanukar, Chairman & Managing Director, said: “Q3FY25 has been on expected lines in terms of volume performance. The transition due to 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 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 Pvt Ltd.” Result PDF