Tilaknagar Inds

₹219.7 -2.9 | 1.3%

WEBSITE BSE:507205 NSE : TILAKNAG IND 10 May, 16:01

Market Cap ₹4233 Cr.

Stock P/E 25.1

P/B 6.9

Current Price ₹219.7

Book Value ₹ 31.9

Face Value 10

52W High ₹291

Dividend Yield 0.11%

52W Low ₹ 127

Edit Ratio

Tilaknagar Inds Research see more...

Cheers to Transformation: Tilaknagar Industries Ltd's Remarkable Turnaround

Overview Inc. Year: 1933Industry: Breweries & Distilleries

Tilaknagar Industries Ltd. sells and manufactures Indian made foreign liquor and its related products in India. The organisation’s products consist of whisky, brandy, rum, vodka, and gin. It offers brandy underneath the Mansion House and Courier Napoleon manufacturers; whisky under the Mansion House, Senate Royal, and Senate Royale Red manufacturers; rum beneath the Madiraa brand; and gin below the Blue Lagoon logo. The corporation 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.

Tilaknagar Inds Share Price

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Peer Comparison

Tilaknagar Inds Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	445	502	521	481	596	675	717	640	750	798
Other Income	1	1	8	1	1	1	5	1	0	8
Total Income	447	503	529	481	597	677	722	641	751	806
Total Expenditure	415	469	495	459	565	635	674	602	703	746
Operating Profit	32	34	34	22	32	42	49	40	48	60
Interest	16	16	15	13	10	9	8	6	8	8
Depreciation	8	8	8	8	8	8	8	8	8	8
Exceptional Income / Expenses	0	0	13	0	0	51	26	0	5	0
Profit Before Tax	8	10	23	1	14	76	59	26	37	44
Provision for Tax	-4	-0	0	0	0	0	-0	0	0	0
Profit After Tax	11	10	23	1	14	76	59	26	37	44
Adjustments	0	0	0	0	0	0	-0	0	0	-0
Profit After Adjustments	11	10	23	1	14	76	59	26	37	44
Adjusted Earnings Per Share	0.8	0.7	1.5	0.1	0.8	4.2	3.2	1.3	1.9	2.3

Tilaknagar Inds Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	752	824	748	458	515	578	661	653	549	783	1164	2905
Other Income	2	4	2	3	4	34	5	30	11	10	8	14
Total Income	755	828	751	461	519	611	667	683	560	794	1172	2920
Total Expenditure	582	654	653	580	612	575	605	705	495	671	1027	2725
Operating Profit	173	174	97	-119	-92	36	61	-22	66	123	145	197
Interest	64	64	97	125	157	152	184	129	71	62	40	30
Depreciation	24	25	28	39	38	37	37	33	33	33	32	32
Exceptional Income / Expenses	0	0	0	0	0	0	0	455	0	13	78	31
Profit Before Tax	85	85	-28	-283	-288	-153	-160	271	-39	41	150	166
Provision for Tax	24	26	12	-1	-8	-2	-0	2	-0	-4	-0	0
Profit After Tax	61	58	-40	-282	-280	-151	-160	270	-38	45	150	166
Adjustments	-0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	61	58	-40	-282	-280	-151	-160	270	-38	45	150	166
Adjusted Earnings Per Share	5	4.7	-3.2	-22.6	-22.4	-12.1	-12.7	21.6	-3.1	2.8	8.1	8.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	49%	21%	15%	4%
Operating Profit CAGR	18%	0%	32%	-2%
PAT CAGR	233%	-18%	0%	9%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	65%	73%	74%	14%
ROE Average	51%	70%	42%	-12%
ROCE Average	26%	16%	21%	10%

Tilaknagar Inds Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	531	583	542	256	20	-130	-287	-17	-56	134	483
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	211	226	211	226	0	0	0	489	459	381	24
Other Non-Current Liabilities	79	108	131	117	53	111	145	253	95	60	71
Total Current Liabilities	598	748	832	929	1277	1303	1423	355	513	439	434
Total Liabilities	1419	1665	1716	1528	1350	1284	1281	1080	1012	1013	1012
Fixed Assets	441	461	608	579	542	587	552	502	469	439	420
Other Non-Current Assets	220	351	224	194	148	249	247	205	203	154	40
Total Current Assets	758	852	884	754	661	448	482	373	340	420	551
Total Assets	1419	1665	1716	1528	1350	1284	1281	1080	1012	1013	1012

Tilaknagar Inds Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	13	20	8	24	9	5	67	50	37	45	43
Cash Flow from Operating Activities	61	56	213	13	26	175	65	191	85	65	71
Cash Flow from Investing Activities	-73	-123	-85	-3	-2	-8	-3	5	-0	-26	-12
Cash Flow from Financing Activities	19	55	-113	-27	-28	-105	-79	-208	-78	-41	-67
Net Cash Inflow / Outflow	7	-12	15	-17	-5	62	-17	-13	8	-2	-8
Closing Cash & Cash Equivalent	20	8	24	7	5	67	50	37	45	43	35

Tilaknagar Inds Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	4.97	4.71	-3.22	-22.58	-22.41	-12.11	-12.75	21.56	-3.06	2.85	8.09
CEPS(Rs)	6.96	6.77	-1	-19.49	-19.35	-9.12	-9.81	24.19	-0.42	4.91	9.83
DPS(Rs)	0.8	0.8	0	0	0	0	0	0	0	0.1	0.25
Book NAV/Share(Rs)	37.43	41.18	37.58	14.99	1.22	-10.71	-23.33	-1.79	-4.75	7.35	25.25
Core EBITDA Margin(%)	14.04	11.64	7.08	-12.71	-8.44	0.22	3.65	-3.48	3.8	6.21	5.52
EBIT Margin(%)	12.23	10.19	5.19	-16.37	-11.42	-0.07	1.6	26.78	2.27	5.71	7.65
Pre Tax Margin(%)	7	5.79	-2.08	-29.34	-25.18	-11.8	-10.37	18.15	-2.71	2.28	6.03
PAT Margin (%)	4.99	3.99	-3	-29.22	-24.45	-11.67	-10.36	18.05	-2.69	2.5	6.03
Cash Profit Margin (%)	6.98	5.74	-0.93	-25.22	-21.12	-8.79	-7.97	20.25	-0.37	4.32	7.33
ROA(%)	4.7	3.78	-2.38	-17.37	-19.43	-11.47	-12.44	22.85	-3.67	4.46	14.81
ROE(%)	14.16	12.06	-8.21	-85.92	-276.55	0	0	0	0	158.41	51.28
ROCE(%)	14.48	12	5.25	-13.27	-12.04	-0.09	2.85	57.83	5.37	15.1	26.14
Receivable days	49.72	53.09	50.5	49.82	42.2	45.49	49.1	59.15	54.35	42.24	42.26
Inventory Days	39.56	33.24	35.23	43.13	30.31	23.7	21.08	19.28	16.92	14.6	13.84
Payable days	173.68	172.84	209.25	410.23	364.88	422.57	461	335.56	421.56	316.97	196.3
PER(x)	11.98	11.78	0	0	0	0	0	0.7	0	23.33	13.92
Price/Book(x)	1.59	1.35	0.53	1.08	11.3	-1.75	-0.62	-8.41	-6.2	9.04	4.46
Dividend Yield(%)	1.34	1.44	0	0	0	0	0	0	0	0.15	0.22
EV/Net Sales(x)	1.81	1.82	1.39	2.35	2.4	2.07	1.87	1.11	1.86	2	1.97
EV/Core EBITDA(x)	7.9	8.61	10.68	-9.03	-13.38	32.86	20.18	-33.01	15.62	12.79	15.86
Net Sales Growth(%)	35.84	9.54	-9.21	-38.82	12.5	12.18	14.46	-1.29	-15.94	42.76	48.63
EBIT Growth(%)	17.72	0.05	-53.17	-326.75	17.26	99.31	2814.33	1527.38	-91.91	218.22	84.44
PAT Growth(%)	28.48	-3.88	-168.95	-601.5	0.77	45.94	-5.55	269.09	-114.24	217.67	231.73
EPS Growth(%)	26.51	-5.33	-168.39	-601.57	0.77	45.94	-5.23	269.09	-114.2	193.05	183.91
Debt/Equity(x)	1.45	1.63	1.76	4.73	70.71	-7.72	-3.8	-25.79	-11.78	5.01	0.54
Current Ratio(x)	1.27	1.14	1.06	0.81	0.52	0.34	0.34	1.05	0.66	0.96	1.27
Quick Ratio(x)	1.05	0.96	0.91	0.7	0.45	0.28	0.27	0.88	0.52	0.79	1
Interest Cover(x)	2.34	2.32	0.71	-1.26	-0.83	-0.01	0.13	3.1	0.46	1.67	4.73
Total Debt/Mcap(x)	0.91	1.21	3.33	4.36	6.25	4.42	6.18	3.07	1.9	0.55	0.12

Tilaknagar Inds Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	44.24	44.89	44.86	42.92	41.95	41.15	42.02	41.97	40.26	40.19
FII	0.14	0.19	0	1.91	10.38	10.89	10.57	11.33	11.57	11.38
DII	0.01	0.01	0.17	0.01	0.01	0.01	0.01	0.01	0.17	0.1
Public	55.61	54.91	54.97	55.16	47.67	47.94	47.4	46.69	48	48.32
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	6.86	7.12	7.12	7.12	7.63	7.63	8.05	8.05	7.75	7.75
FII	0.02	0.03	0	0.32	1.89	2.02	2.02	2.17	2.23	2.19
DII	0	0	0.03	0	0	0	0	0	0.03	0.02
Public	8.62	8.71	8.73	9.15	8.67	8.89	9.08	8.95	9.23	9.31
Others	0	0	0	0	0	0	0	0	0	0
Total	15.5	15.86	15.88	16.59	18.18	18.53	19.15	19.17	19.24	19.27

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 70%
Debtor days have improved from 316.97 to 196.3days.
Company has reduced debt.

Cons

Promoter holding is low: 40.19%.
Stock is trading at 6.9 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.