: Tilaknagar Industries registers 52 per cent growth in revenue; PAT increases to Rs. 11 crore in Q2 #IndiaNEWS #Press Releases Tilaknagar Industries Limited (TI) has reported profit after tax (PAT)

Tilaknagar Industries registers 52 per cent growth in revenue; PAT increases to Rs. 11 crore in Q2 #IndiaNEWS #Press Releases
Tilaknagar Industries Limited (TI) has reported profit after tax (PAT) of Rs. 11 crore for the quarter ended September 2021 as against a net loss of Rs. 2. 69 crore for the same period a year ago. The company registered a robust 52 per cent growth in net revenue at Rs. 201 crore in quarter ended September 2021 as against Rs. 132. 41 crore in the corresponding quarter last year. The financial performance registered an all-around improvement with EBITDA margins rising to 15. 2 per cent from 14. 5 per cent recorded in Q2 last year, buoyed by an improved operating leverage. Renowned for making the famous Mansion House Brandy, TI reported a 22. 3 per cent jump in sales volumes at 18. 22 lakh cases in the quarter under review as against a volume of 14. 89 lakh cases recorded in the same period last year. Chairman and Managing Director, Mr. Amit Dahanukar said, We are now seeing a near-normal state-wise business contribution, with all of our major states contributing meaningful volumes. This is unlike the previous quarter which saw states like Kerala hardly contributing due to the lock-downâCommenting on the financial performance, Mr. Dahanukar said, We are glad to share a very strong set of numbers despite an uncertain and challenging environment, not only in terms of COVID-19 and related state-specific restrictions but also challenges of inflationary pressures on the business. The strong growth in volumes and expansion in margins has enabled the company in generating good cash flows, leading to reduction in debt completely through internal accruals. In the half-year ended September 2021, TIs debt reduced by Rs. 25 crore to Rs. 518 crore as against Rs. 543 crore as of March 2021. Earlier this month, the TI Board of Directors approved issuing over One Crore Eighteen Lakh equity shares on preferential basis to Barclays Wealth Trustees (India) Pvt. Ltd. acting as a Trustee of Lotus Family Trust. The company has also approved issuing over Twenty Seven Lakh Equity Shares to Edelweiss Asset Reconstruction Company Limited towards restructuring of debt by way of conversion of part of the debt owed to it by the company amounting to over Rs. Fourteen Crore into equity shares of the company on preferential basis. The company has issued over One Crore Eighteen Lakh convertible warrants on a preferential basis to Arunoday Investments Private Limited (promoter group) and M L Dahanukar and Co. Pvt. Ltd. (promoter group). After the issue of the aforesaid equity, the Lotus Family Trust would hold 7. 13 per cent of the companys equity whereas the promoters would continue to hold nearly 49 per cent equity in TI.
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