Tilaknagar Industries Q3 sees ₹105-cr net loss despite 80% revenue growth on IB acquisition

Alcoholic beverage maker Tilaknagar Industries Ltd on Friday (February 13) reported a net loss of ₹105 crore in Q3FY26, compared to a net profit of ₹53.9 crore in the same period last year.

The company’s revenue grew 80.5% to ₹1,453 crore from ₹805 crore in Q3FY25. EBITDA increased 83.2% to ₹110 crore versus ₹60 crore a year ago. The EBITDA margin remained flat at 8% compared to the year-ago period.

Tilaknagar Industries reported a consolidated Q3FY26 volume of 53.1 lakh cases, up 76.1% from the same period last year, including 17.9 lakh cases from the IMFL business in December 2025. Net revenue from operations stood at ₹664 crore, up 95% YoY, or ₹644 crore when adjusted for subsidy, up 89.2%.

Also Read: Tilaknagar Industries front-runner to acquire Imperial Blue brand; Stock surges: Exclusive

The subsidy-adjusted EBITDA was ₹90 crore, showing a 49.6% increase. The EBITDA margin, adjusted for subsidy, stood at 14%. Profit after tax (PAT), excluding exceptional items and amortisation related to acquisitions, increased 40.1% to ₹76 crore. Adjusted for subsidy, PAT was ₹56 crore.

For 9MFY26, Tilaknagar Industries posted a volume of 119.3 lakh cases, up 40.5% YoY. Net revenue from operations grew 43.1% to ₹1,471 crore, or ₹1,413 crore adjusted for subsidy, up 39.5%.

EBITDA for 9MFY26 increased 50% to ₹265 crore, or ₹206 crore adjusted for subsidy, with an adjusted EBITDA margin of 14.6%. PAT for 9MFY26, excluding exceptional items and acquisition-related amortisation, rose 42.4% to ₹217 crore, or ₹158 crore adjusted for subsidy.

Tilaknagar’s strong volume delivery of 35.2 lakh cases (ex-IMFL) recorded 16.8% YoY growth, outperforming industry growth in the quarter.

Also Read: Tilaknagar Industries Q2 Results | Profit falls 10% on margin pressure despite 6% revenue growth

Amit Dahanukar, Chairman & Managing Director, said, "Q3FY26 marks the beginning of TI’s next phase of growth. Imperial Blue (IB) joined the Tilaknagar Industries (TI) portfolio in December 2025 and delivered a strong start with 1.79 million cases sold in its first month under our ownership."

"With the IB acquisition, TI has emerged as the largest P&A player in the southern region with 32%1 market share for Dec 25. The coming quarters will be pivotal as we complete the integration of IB into TI. We have established dedicated integration workstreams across operations, distribution, systems and human capital, supported by external experts, to ensure a seamless transition and disciplined synergy realisation," he added.

Also Read: Tilaknagar Industries expects volume to grow in high teens in FY26

Shares of Tilaknagar Industries Ltd ended at ₹450.75, up by ₹1.20, or 0.27%, on the BSE today, February 13.