Tilaknagar Industries

Tilaknagar Industries reported a transformative Q3 FY26, with revenue surging 90.5% YoYCurrent reported value: 90.5% YoY. No comparable prior figure is available in the source record. to ₹664 croreCurrent reported value: ₹664 crore. No comparable prior figure is available in the source record., driven by the first month of Imperial Blue (IB) consolidation. EBITDA grew 82.3% YoYCurrent reported value: 82.3% YoY. No comparable prior figure is available in the source record. to ₹110 croreCurrent reported value: ₹110 crore. No comparable prior figure is available in the source record., with margins at 16.6%. IB contributed 1.8 million casesCurrent 1.8 million cases. Reported change: N/A. in December, helping TI achieve a 32% market share in southern India's prestige segment. Excluding IB, organic volumes grew 16.8% YoY. Management guided for 150-250 bps margin expansion for the combined business over 24-36 months and high single-digit to low double-digit volume growth in FY27. Key risks include integration disruptions, MML competition in Maharashtra, and elevated debt of ₹2,100 crore. The company expects net debt/EBITDA below 1x by FY29.