Tilaknagar Inds

₹308.2 -9.6 | 3%

WEBSITE BSE:507205 NSE : TILAKNAG IND 17 Sep, 16:01

Market Cap ₹5946 Cr.

Stock P/E 38.9

P/B 8.7

Current Price ₹308.2

Book Value ₹ 35.6

Face Value 10

52W High ₹329.9

Dividend Yield 0.16%

52W Low ₹ 176.8

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.)	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Net Sales	521	481	596	675	717	640	750	798	771	665
Other Income	8	1	1	1	5	1	0	8	4	2
Total Income	529	481	597	677	722	641	751	806	775	667
Total Expenditure	495	459	565	635	674	602	703	746	722	615
Operating Profit	34	22	32	42	49	40	48	60	52	52
Interest	15	13	10	9	8	6	8	8	5	4
Depreciation	8	8	8	8	8	8	8	8	8	8
Exceptional Income / Expenses	13	0	0	51	26	0	5	0	-8	0
Profit Before Tax	23	1	14	76	59	26	37	44	31	40
Provision for Tax	0	0	0	0	-0	0	0	0	0	0
Profit After Tax	23	1	14	76	59	26	37	44	31	40
Adjustments	0	0	0	0	-0	0	0	-0	0	-0
Profit After Adjustments	23	1	14	76	59	26	37	44	31	40
Adjusted Earnings Per Share	1.5	0.1	0.8	4.2	3.2	1.3	1.9	2.3	1.6	2.1

Tilaknagar Inds Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	824	748	458	515	578	661	653	549	783	1164	1394	2984
Other Income	4	2	3	4	34	5	30	11	10	8	14	14
Total Income	828	751	461	519	611	667	683	560	794	1172	1408	2999
Total Expenditure	654	653	580	612	575	605	705	495	671	1027	1209	2786
Operating Profit	174	97	-119	-92	36	61	-22	66	123	145	200	212
Interest	64	97	125	157	152	184	129	71	62	40	27	25
Depreciation	25	28	39	38	37	37	33	33	33	32	32	32
Exceptional Income / Expenses	0	0	0	0	0	0	455	0	13	78	-3	-3
Profit Before Tax	85	-28	-283	-288	-153	-160	271	-39	41	150	138	152
Provision for Tax	26	12	-1	-8	-2	-0	2	-0	-4	-0	0	0
Profit After Tax	58	-40	-282	-280	-151	-160	270	-38	45	150	138	152
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	58	-40	-282	-280	-151	-160	270	-38	45	150	138	152
Adjusted Earnings Per Share	4.7	-3.2	-22.6	-22.4	-12.1	-12.7	21.6	-3.1	2.8	8.1	7.2	7.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	20%	36%	16%	5%
Operating Profit CAGR	38%	45%	27%	1%
PAT CAGR	-8%	0%	0%	9%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	44%	97%	90%	21%
ROE Average	25%	78%	47%	-11%
ROCE Average	22%	21%	25%	11%

Tilaknagar Inds Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	583	542	256	20	-130	-287	-17	-56	134	483	654
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	226	211	226	0	0	0	489	459	381	24	63
Other Non-Current Liabilities	108	131	117	53	111	145	253	95	60	71	61
Total Current Liabilities	748	832	929	1277	1303	1423	355	513	439	434	256
Total Liabilities	1665	1716	1528	1350	1284	1281	1080	1012	1013	1012	1033
Fixed Assets	461	608	579	542	587	552	502	469	439	420	396
Other Non-Current Assets	351	224	194	148	249	247	205	203	154	40	49
Total Current Assets	852	884	754	661	448	482	373	340	420	551	589
Total Assets	1665	1716	1528	1350	1284	1281	1080	1012	1013	1012	1033

Tilaknagar Inds Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	20	8	24	9	5	67	50	37	45	43	35
Cash Flow from Operating Activities	56	213	13	26	175	65	191	85	65	71	121
Cash Flow from Investing Activities	-123	-85	-3	-2	-8	-3	5	-0	-26	-12	-17
Cash Flow from Financing Activities	55	-113	-27	-28	-105	-79	-208	-78	-41	-67	-129
Net Cash Inflow / Outflow	-12	15	-17	-5	62	-17	-13	8	-2	-8	-24
Closing Cash & Cash Equivalent	8	24	7	5	67	50	37	45	43	35	10

Tilaknagar Inds Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	4.71	-3.22	-22.58	-22.41	-12.11	-12.75	21.56	-3.06	2.85	8.09	7.16
CEPS(Rs)	6.77	-1	-19.49	-19.35	-9.12	-9.81	24.19	-0.42	4.91	9.83	8.82
DPS(Rs)	0.8	0	0	0	0	0	0	0	0.1	0.25	0.5
Book NAV/Share(Rs)	41.18	37.58	14.99	1.22	-10.71	-23.33	-1.79	-4.75	7.35	25.25	33.51
Core EBITDA Margin(%)	11.64	7.08	-12.71	-8.44	0.22	3.65	-3.48	3.8	6.21	5.52	6.22
EBIT Margin(%)	10.19	5.19	-16.37	-11.42	-0.07	1.6	26.78	2.27	5.71	7.65	5.53
Pre Tax Margin(%)	5.79	-2.08	-29.34	-25.18	-11.8	-10.37	18.15	-2.71	2.28	6.03	4.63
PAT Margin (%)	3.99	-3	-29.22	-24.45	-11.67	-10.36	18.05	-2.69	2.5	6.03	4.63
Cash Profit Margin (%)	5.74	-0.93	-25.22	-21.12	-8.79	-7.97	20.25	-0.37	4.32	7.33	5.7
ROA(%)	3.78	-2.38	-17.37	-19.43	-11.47	-12.44	22.85	-3.67	4.46	14.81	13.5
ROE(%)	12.06	-8.21	-85.92	-276.55	0	0	0	0	158.41	51.28	24.78
ROCE(%)	12	5.25	-13.27	-12.04	-0.09	2.85	57.83	5.37	15.1	26.14	21.83
Receivable days	53.09	50.5	49.82	42.2	45.49	49.1	59.15	54.35	42.24	42.26	46.38
Inventory Days	33.24	35.23	43.13	30.31	23.7	21.08	19.28	16.92	14.6	13.84	13.29
Payable days	172.84	209.25	410.23	364.88	422.57	461	335.56	421.56	316.97	196.3	139.68
PER(x)	11.78	0	0	0	0	0	0.7	0	23.33	13.92	29.37
Price/Book(x)	1.35	0.53	1.08	11.3	-1.75	-0.62	-8.41	-6.2	9.04	4.46	6.28
Dividend Yield(%)	1.44	0	0	0	0	0	0	0	0.15	0.22	0.24
EV/Net Sales(x)	1.82	1.39	2.35	2.4	2.07	1.87	1.11	1.86	2	1.97	2.96
EV/Core EBITDA(x)	8.61	10.68	-9.03	-13.38	32.86	20.18	-33.01	15.62	12.79	15.86	20.7
Net Sales Growth(%)	9.54	-9.21	-38.82	12.5	12.18	14.46	-1.29	-15.94	42.76	48.63	19.72
EBIT Growth(%)	0.05	-53.17	-326.75	17.26	99.31	2814.33	1527.38	-91.91	218.22	84.44	-13.33
PAT Growth(%)	-3.88	-168.95	-601.5	0.77	45.94	-5.55	269.09	-114.24	217.67	231.73	-7.93
EPS Growth(%)	-5.33	-168.39	-601.57	0.77	45.94	-5.23	269.09	-114.2	193.05	183.91	-11.46
Debt/Equity(x)	1.63	1.76	4.73	70.71	-7.72	-3.8	-25.79	-11.78	5.01	0.54	0.18
Current Ratio(x)	1.14	1.06	0.81	0.52	0.34	0.34	1.05	0.66	0.96	1.27	2.3
Quick Ratio(x)	0.96	0.91	0.7	0.45	0.28	0.27	0.88	0.52	0.79	1	1.91
Interest Cover(x)	2.32	0.71	-1.26	-0.83	-0.01	0.13	3.1	0.46	1.67	4.73	6.16
Total Debt/Mcap(x)	1.21	3.33	4.36	6.25	4.42	6.18	3.07	1.9	0.55	0.12	0.03

Tilaknagar Inds Shareholding Pattern

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	44.89	44.86	42.92	41.95	41.15	42.02	41.97	40.26	40.19	40.17
FII	0.19	0	1.91	10.38	10.89	10.57	11.33	11.57	11.38	11.69
DII	0.01	0.17	0.01	0.01	0.01	0.01	0.01	0.17	0.1	0.35
Public	54.91	54.97	55.16	47.67	47.94	47.4	46.69	48	48.32	47.79
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	7.12	7.12	7.12	7.63	7.63	8.05	8.05	7.75	7.75	7.75
FII	0.03	0	0.32	1.89	2.02	2.02	2.17	2.23	2.19	2.25
DII	0	0.03	0	0	0	0	0	0.03	0.02	0.07
Public	8.71	8.73	9.15	8.67	8.89	9.08	8.95	9.23	9.31	9.21
Others	0	0	0	0	0	0	0	0	0	0
Total	15.86	15.88	16.59	18.18	18.53	19.15	19.17	19.24	19.27	19.28

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 78%
Debtor days have improved from 196.3 to 139.68days.
Company is almost debt free.

Cons

Promoter holding is low: 40.17%.
Stock is trading at 8.7 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.