Tilaknagar Industries Limited (TI) AI Stock Analysis

• Market Cap: ₹102.52B
• Dividend Yield: 0.21%
• Average Volume (3M): 127.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.68
• Revenue Growth: 3.35%
• EPS Growth: 56.08%
• Country: IN
• Employees: 328
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Wineries & Distilleries
• EPS (TTM): -0.85
• Shares Outstanding: 245,908,750
• 10 Day Avg. Volume: 132,847
• 30 Day Avg. Volume: 127,203
• PEG Ratio: 0.32
• Price to Book (P/B): 5.35
• Price to Sales (P/S): 3.29
• P/FCF Ratio: 27.50
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 5.85
• Revenue Forecast (FY): ₹25.66B

• Rating: 66 Neutral
• Price Target: ₹451.00 ▼(-1.90% Downside)
• Action: Reiterated Date: 11/25/25
• Date: Action: Reiterated 11/25/25

Tilaknagar Industries Limited exhibits strong financial performance with robust revenue and profit growth, high margins, and efficient cash flow management. However, the technical analysis indicates mixed signals with potential short-term weakness, and the valuation suggests the stock is relatively expensive. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Balance sheet strength

Extremely low leverage and a high equity ratio provide durable financial flexibility, lowering refinancing and solvency risk. A 26% ROE shows efficient capital use, supporting sustainable shareholder returns and the ability to fund growth or weather cyclical industry shocks over months.

Free cash flow generation

Material free cash flow growth indicates robust internal funding for capex, distribution expansion or debt reduction without reliance on external financing. High FCF conversion supports durable investment capacity and resilience through regulatory or demand cycles.

High margins and profitability

Sustained high gross and operating margins point to pricing power, favorable product mix and efficient production. Consistent profitability affords reinvestment in brands and distribution and cushions against cost inflation in packaging or inputs over the medium term.

Negative Factors

Earnings volatility (EPS decline)

A sharp EPS contraction signals profitability variability that can persist if driven by mix shifts, higher costs or one-off items. Sustained EPS weakness can constrain retained earnings and limit strategic reinvestment or dividend flexibility over subsequent quarters.

State regulatory and excise risk

Operating across Indian state-specific excise regimes creates structural margin and route-to-market uncertainty. Changes in duties, controlled wholesale channels or listing rules can materially alter pricing power and distribution economics for months to years.

Rising liabilities to monitor

Even a modest rise in liabilities reduces the cushion from the strong equity base and may signal growing working capital or contingent obligations. If the trend continues it could constrain free cash deployment and reduce optionality for expansion over the medium term.

Tilaknagar Industries Limited Business Overview & Revenue Model

Company Description

Tilaknagar Industries Ltd. engages in the manufacture and sale of Indian made foreign liquor and its related products in India. The company offers various liquor categories, including brandy, whisky, vodka, gin, and rum. It offers brandy under the Mansion House and Courier Napoleon brands; gin under the Blue Lagoon brand; rum under the Madiraa brand; and whisky under the Mansion House and Senate Royale brands. The company also exports its products in East and South-East Asia, Africa, the Middle East, and Europe. Tilaknagar Industries Ltd. was incorporated in 1933 and is based in Mumbai, India.

How the Company Makes Money

TI makes money primarily by selling bottled spirits under its owned brands (with a strong emphasis on brandy) into India’s regulated alcoholic beverage market. Revenue is generated from (1) sales of IMFL spirits to state beverage corporations, government-controlled wholesalers, or licensed private distributors/retail channels depending on each state’s excise framework; (2) brand-led premiumization and portfolio mix, where higher-priced variants and stronger brand positioning can improve realizations per case; and (3) scaling distribution reach across states to grow volumes within state-specific pricing, listing, and route-to-market rules. Profitability is influenced by input costs (such as Extra Neutral Alcohol/molasses-based spirit, glass bottles, packaging materials), manufacturing/contract bottling economics (where applicable), and significant state excise duties and taxes that affect consumer pricing and trade margins. Specific partnerships, contract structures, or customer concentration details are null.

Tilaknagar Industries Limited Financial Statement Overview

Summary

Tilaknagar Industries Limited is in a strong financial position with impressive revenue and profit growth, high margins, and efficient cash flow management. The low debt levels and high equity base further strengthen its financial stability, positioning the company well for future growth. Potential risks are minimal, with only a slight increase in liabilities to monitor.

Income Statement

Tilaknagar Industries Limited has demonstrated a strong revenue growth trajectory with a revenue increase from 13,874.87 million to 14,341.55 million INR, reflecting a growth rate of 3.37%. The gross profit margin is robust at 49.3%, and the net profit margin is healthy at 16.0%. There is a remarkable EBIT margin of 45.5% and an impressive EBITDA margin of 19.0%, indicating efficient cost management and operational performance. The company's revenue and profit growth, alongside high margins, suggest strong profitability and stability.

Balance Sheet

The balance sheet reflects strong financial health with a debt-to-equity ratio of 0.05, indicating low leverage and financial risk. The return on equity is excellent at 26.0%, showcasing effective utilization of equity capital. The equity ratio stands at 72.7%, demonstrating a solid equity base and strong financial stability. The company's low leverage and high equity ratio are strengths, though a slight increase in liabilities could pose a minor risk.

Cash Flow

The cash flow statement reveals a significant improvement in free cash flow from 1,125.29 million to 1,715.63 million INR, showing a growth rate of 52.44%. The operating cash flow to net income ratio is 0.78, indicating good cash generation relative to net income. The free cash flow to net income ratio is 0.75, reflecting efficient cash management. The strong free cash flow growth and solid cash metrics highlight the company's liquidity and ability to fund operations and investments.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	15.15B	14.34B	13.94B	11.64B	7.83B	5.49B
Gross Profit	7.17B	7.02B	6.83B	5.44B	3.95B	2.60B
EBITDA	3.07B	2.66B	1.96B	1.46B	1.22B	632.05M
Net Income	2.72B	2.30B	1.38B	1.50B	451.87M	-384.03M
Balance Sheet
Total Assets	23.30B	12.13B	10.33B	10.12B	10.13B	10.12B
Cash, Cash Equivalents and Short-Term Investments	11.31B	1.11B	427.58M	662.21M	706.25M	481.59M
Total Debt	486.83M	441.79M	1.21B	2.56B	5.85B	7.02B
Total Liabilities	3.38B	3.31B	3.80B	7.14B	8.80B	10.67B
Stockholders Equity	19.91B	8.82B	6.54B	4.83B	1.34B	-557.18M
Cash Flow
Free Cash Flow	317.63M	1.72B	1.13B	604.10M	617.57M	853.82M
Operating Cash Flow	696.49M	1.78B	1.21B	712.89M	651.06M	854.66M
Investing Cash Flow	-2.43B	-769.26M	-148.93M	-117.68M	-258.88M	-3.21M
Financing Cash Flow	9.87B	-944.07M	-1.29B	-674.47M	-413.42M	-776.17M

Tilaknagar Industries Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 459.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TI, the sentiment is Negative. The current price of 459.75 is above the 20-day moving average (MA) of 441.93, above the 50-day MA of 436.45, and above the 200-day MA of 445.71, indicating a bearish trend. The MACD of -2.18 indicates Positive momentum. The RSI at 38.89 is Neutral, neither overbought nor oversold. The STOCH value of 16.82 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TI.

Tilaknagar Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GMBREW	75 Outperform	₹22.67B	16.42	―	0.72%	―	―
TI	66 Neutral	₹102.52B	-24.49	―	0.21%	3.35%	56.08%
SDBL	66 Neutral	₹13.83B	121.41	―	―	-0.87%	10.87%
ASALCBR	64 Neutral	₹13.65B	16.60	―	0.21%	16.02%	48.63%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SULA	57 Neutral	₹12.05B	50.36	―	1.67%	-2.15%	-42.78%
RKDL	42 Neutral	₹411.84M	724.38	―	―	4.30%	-40.22%