TILAKNAGAR IND Q1 FY26 CONCALL 📢

Expansion • Prag Distillery AP: ₹59 Cr capex → capacity 6L → 36L cases/month (12m) Guidance (Pre-IB Acquisition) • FY26 Rev ↑ mid-to-high teens | EBITDA Margin 15–16.5% • Vol: ~14M cases FY26 | NSR ↑ 1–2% annually Imperial Blue Acquisition • ~€413M EV | 3rd largest whiskey in India (>22M cases, ₹3,000 Cr net revenue) • Portfolio shift: whiskey ~⅔ of sales | Strong export base • 16 mfg units | Long-term RM supply tie-up • Funded via ₹2,300 Cr equity + debt | Target ND/EBITDA <1x by FY29