The shares of the Leading Indian-Made Foreign Liquor (IMFL) manufacturer rose up to 2 percent of Rs 268 per share a day after the company promoter sold a stake of 1.56 percent in the company.
At 10:48 a.m., Tilaknagar Industries Ltd shares were trading at a price of Rs 265.60 a share, up 1.32 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of Rs 5,101 crore.
According to the company’s exchange filing, Mr. Amit Dahanukar, Promoter of the Company sold 30,00,000 equity shares of the Company on November 23, 2023, representing 1.56 percent of the total paid-up capital of the Company, for the purpose of releasing the pledge on the Promoters’ equity shares.
Tilaknagar Industries Ltd shares have delivered a 75 percent return in the last six months and 166 percent in the last year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 2.66 lakh in a year.
The company’s revenue has increased by 29 percent yearly, from Rs 274 crore in Q2FY23 to Rs 354 crore in Q2FY24. In the same time frame, the company’s net profit has significantly increased by 185 percent, from Rs 13 crore to Rs 37 crore.
According to the latest shareholding pattern, company promoters hold 41.97 percent of the company, Foreign Institutional Investors hold 11.33 percent, and retail investors hold 46.69 percent stake.
Tilaknagar Industries Ltd. is mainly engaged in the business of manufacturing and sale of Indian Made Foreign Liquor (IMFL). The company has a diverse portfolio of brands in various liquor categories including brandy, whisky, vodka, gin, and rum.
Written by Omkar Chitnis
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