Breweries & Distilleries firm Tilaknagar Industries announced Q1FY23 Result : Strong growth in what has historically been the weakest quarter for TI Volumes above pre-Covid levels NSR per case largely stable at Rs. 1,157 for Q1 FY23 vs. Rs. 1,162 for Q4 FY22 (-0.5% QoQ); predominantly due to region mix Significant inflationary pressures felt on raw material and packaging material costs ENA cost increased by 18% YoY and 3.5% QoQ Glass bottles’ cost increased by 30% YoY and 20% QoQ Foreign exchange fluctuation loss has impacted EBITDA by Rs. 2.55 crs, compared to Rs. 0.68 crs in Q1 FY22 and Rs. 0.85 crs in Q4 FY22. Result PDF
Breweries & Distilleries company Tilaknagar Industries declares Q3FY22 result: Volumes have grown to 18.7 lacs cases in Q3 FY22 (up 13% YoY) Strong NSR of Rs. 1,139 per case (vs. Rs. 1,087 per case in Q2 FY22) Net revenue from operations at Rs. 206 crs (up 23% YoY) Gross profit at Rs. 109 crs (up 29% YoY); Gross margin at 53% EBITDA at Rs. 32 crs (up 46% YoY); EBITDA margin at 15.7% Profit after tax at Rs. 10 crs (from loss of last year) Debt reduced to Rs. 488 crs as of Dec-21; from Rs. 543 crs as of Mar-21 Net debt at Rs. 383 crs as of Dec-21 Result PDF
Highlights: Volumes have grown to 18.22 lacs cases in Q2 FY22 (up 22% YoY) Strong NSR of Rs. 1,081 per case (vs. Rs. 968 per case in Q2 FY21) Net revenue from operations at Rs. 201 crs (up 52% YoY) Gross profit at Rs. 98 crs (up 42% YoY); Gross margin at 48.8% EBITDA at Rs. 31 crs (up 59% YoY); EBITDA margin at 15.2% Profit after tax at Rs. 11 crs (from loss of last year); this includes a Rs. 3.5 crs of income tax refund pertaining to previous years Debt reduced to Rs. 518 crs as of Sep-21; from Rs. 543 crs as of Mar-21 From the desk of Mr. Amit Dahanukar, Chairman & Managing Director: "We are glad to share a very strong set of numbers despite an uncertain and challenging environment, not only in terms of Covid-19 and related state-specific restrictions but also challenges of inflationary pressures on the business Q2 saw a ‘normal-like’ state-wise business contribution, with all of our major states contributing meaningful volumes – this was unlike Q1 FY22 which saw states like Kerala hardly contributing due to lock-downs at the time Volumes grew 22.3% on a YoY basis; and in conjunction with higher NSR per case of Rs. 1,081, led to a net revenue growth of 52% Gross margins fell to 48.8% vs. 52.4% in Q2 FY21; this was owing to inflationary pressure on both, ENA and packaging material cost EBITDA margins expanded to 15.2% vs. 14.5% in Q2 FY21 on account of operating leverage PAT increased to Rs. 11 crs i.e. 5.6% PAT margin, on account of improving operating margin profile as well as a Rs. 3.5 crs tax adjustment from prior years The growth in volumes and expansion in margins has enabled us in generating good cash flows leading to reduction in our debt by Rs. 25 crs completely through internal accruals" Result PDF