| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 2,438 | 916 | +166.2% |
| EBITDA | 148 | 60.2 | +145.8% |
| EBITDA margin | 6.1% | 6.6% | −0.5 pts |
| Profit before tax | 22.3 | 52.9 | −57.9% |
| Net profit | 22.3 | 52.7 | −57.7% |
| EPS | ₹0.90 | ₹2.71 | −66.8% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 12,291 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 72.3 | 218 | 24.4 | 11.3 | 56.9 | ||
| 2,295 | 2,295 | 42.4 | 119 | 253 | ||
| 14,513 | — | — | — | — | ||
| 8,233 | 5,248 | 3,175 | 2,958 | 2,469 | ||
| — | +65.3% | +7.3% | +19.8% | — | ||
| 581 | 419 | 255 | 185 | 137 | ||
| 7.1% | 8.0% | 8.0% | 6.3% | 5.6% | ||
| 425 | 340 | 224 | 154 | 105 | ||
| −66.5 | 20.9 | 230 | 138 | 150 | ||
| −0.8% | 0.4% | 7.2% | 4.7% | 6.1% | ||
| −₹2.69 | ₹0.84 | ₹9.29 | ₹5.58 | ₹6.06 | ||
| — | −90.9% | +66.4% | −7.9% | — | ||
| — | −445 | 178 | 121 | 71.3 | ||
| — | −3,533 | −6.9 | −8.2 | −10.9 | ||
| −3,978 | −3,978 | 172 | 113 | 60.4 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 12,290.6 | |
| - Cash, Equiv & ST Investments | 56.9 | 11.3 | 24.4 | 218.2 | 72.3 | |
| + Total Debt | 253.1 | 119.3 | 42.4 | 2,294.9 | 2,294.9 | |
| Enterprise Value | — | — | — | — | 14,513.2 | |
| Revenue | 2,469.3 | 2,958.3 | 3,174.6 | 5,247.6 | 8,233.1 | |
| Growth %, YoY | — | +19.8 | +7.3 | +65.3 | — | |
| EBITDA | 137.2 | 185.4 | 254.9 | 419.2 | 581.5 | |
| Margin % | 5.56 | 6.27 | 8.03 | 7.99 | 7.06 | |
| EBIT | 104.8 | 153.6 | 224.4 | 339.5 | 424.7 | |
| Net Income | 149.9 | 138.0 | 229.6 | 20.9 | -66.5 | |
| Margin % | 6.07 | 4.67 | 7.23 | 0.40 | -0.81 | |
| EPS, Adj (current shares) | 6.06 | 5.58 | 9.29 | 0.84 | -2.69 | |
| Growth %, YoY | — | -7.9 | +66.4 | -90.9 | — | |
| Cash from Operations | 71.3 | 120.7 | 178.4 | -444.6 | — | |
| Capital Expenditures | -10.9 | -8.2 | -6.9 | -3,533.4 | — | |
| Free Cash Flow | 60.4 | 112.5 | 171.6 | -3,978.0 | -3,978.0 | |
Prices at the 30 October 2026 close · figures from the company's filings with NSE
Tilaknagar Industries (NSE: TI) had a market capitalisation of ₹11,896 crore at the 30 October 2026 close (₹480.85 a share) and a price-to-book ratio of 3.94. In FY26 its consolidated net profit was ₹20.9 crore on revenue of ₹5,248 crore; in Q2 FY27 (July–September 2026) it was ₹22.3 crore, down 57.7% year on year. Its debt-to-equity ratio was 0.73 on 30 September 2026. Promoters held 31.62% of the shares on 30 September 2026.
Tilaknagar Industries' PE ratio is not meaningful at the 30 October 2026 close: its consolidated net profit over the last four quarters (Q3 FY26 to Q2 FY27) was a loss of ₹62.5 crore, and a price-to-earnings ratio needs positive earnings. Its market capitalisation was ₹11,896 crore at ₹480.85 a share.
Tilaknagar Industries' price-to-book (PB) ratio is 3.94 at the 30 October 2026 close: a market capitalisation of ₹11,896 crore divided by shareholders' equity (book value) of ₹3,018 crore on 30 September 2026. That is a book value of ₹122.00 per share against a share price of ₹480.85.
Tilaknagar Industries' net worth — shareholders' equity in its consolidated balance sheet — was ₹3,018 crore on 30 September 2026, up 51.6% from ₹1,991 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹11,896 crore at the 30 October 2026 close.
Tilaknagar Industries' market capitalisation was ₹11,896 crore at the 30 October 2026 close: 24.74 crore shares at ₹480.85 each.
Tilaknagar Industries' basic earnings per share (EPS) were ₹0.97 in FY26, against ₹11.89 in FY25.
In 2026, Tilaknagar Industries has declared one dividend: ₹1 with record date 15 September 2026.
No. Tilaknagar Industries had borrowings of ₹2,202 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.73. Its cash and current investments were ₹118 crore, so its net debt was ₹2,084 crore.
Tilaknagar Industries' debt-to-equity ratio was 0.73 on 30 September 2026: borrowings of ₹2,202 crore against total equity of ₹3,018 crore. A year earlier, on 30 September 2025, it was 0.02.
Tilaknagar Industries' book value per share was ₹122.00 on 30 September 2026: shareholders' equity of ₹3,018 crore divided by the 24.74 crore shares in issue. The share price at the 30 October 2026 close was ₹480.85.
In FY26, Tilaknagar Industries' return on equity (ROE) was 1.1% and its return on capital employed (ROCE) was 10.9%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 29.9% and ROCE 26.0%.
On 30 September 2026, Tilaknagar Industries' shares were held by promoters 31.62%, foreign portfolio investors (FII/FPI) 17.29%, domestic institutions (DII) 8.14% (including mutual funds at 2.88%) and retail and other non-institutional investors 42.95%. Over the year, FII holding was down 2.15 percentage points from 19.44% and DII holding was up 4.33 percentage points from 3.81%.
At the 30 October 2026 closing prices, on FY26 net profit, Tilaknagar Industries' PE ratio is 570.0, the highest of the four: United Spirits 52.6, Radico Khaitan 90.6 and Triveni Engineering & Industries 18.5, a peer average of 53.9. Each is the company's market capitalisation at that price divided by its FY26 net profit.
Promoters held 31.62% of Tilaknagar Industries on 30 September 2026, down 0.06 percentage points from 31.68% the previous quarter and down 5.58 percentage points from 37.20% a year earlier, according to the shareholding pattern filed with NSE.
In FY26, Tilaknagar Industries generated ₹445 crore of cash from operations and spent ₹3,533 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹3,978 crore. In FY25 it was ₹172 crore.
Tilaknagar Industries' latest results are for Q2 FY27 (July–September 2026), filed on 30 October 2026: consolidated net profit ₹22.3 crore, down 57.7% from ₹52.7 crore in Q2 FY26; revenue from operations ₹2,438 crore, up 166.2% year on year.
In FY26 (April 2025–March 2026), Tilaknagar Industries' consolidated net profit was ₹20.9 crore, down 90.9% from ₹230 crore in FY25, on revenue from operations of ₹5,248 crore (up 65.3%). Over three years, from FY23, net profit was down 86.1%.
Tilaknagar Industries has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
In FY26, Tilaknagar Industries earned net profit of ₹20.9 crore on revenue of ₹5,248 crore, against ₹1,838 crore on ₹27,816 crore for United Spirits. Tilaknagar Industries' operating margin was 6.5% (United Spirits 7.2%) and its return on equity 1.1% (United Spirits 21.6%). At the 30 October 2026 close, Tilaknagar Industries' market capitalisation was ₹11,896 crore against ₹96,693 crore for United Spirits, and its PE ratio on FY26 profit 570.0 against 52.6.
On FY26 consolidated figures, against United Spirits, Radico Khaitan and Triveni Engineering & Industries: Tilaknagar Industries' operating margin of 6.5% is the second highest of the four (United Spirits 7.2%, Radico Khaitan 4.1%, Triveni Engineering & Industries 5.3%; peer average 5.5%); its return on equity of 1.1% is the lowest of the four (United Spirits 21.6%, Radico Khaitan 19.9%, Triveni Engineering & Industries 8.3%; peer average 16.6%); its revenue growth over three years of 28.6% a year is the highest of the four (United Spirits 0.0% a year, Radico Khaitan 18.1% a year, Triveni Engineering & Industries 6.5% a year; peer average 8.2% a year).
From Tilaknagar Industries' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 30 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.