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Indian spirits maker best known for Mansion House brandy, one of India's largest-selling brandy brands.
Indian spirits maker best known for Mansion House brandy, one of India's largest-selling brandy brands.
Sells through state-controlled channels, since each Indian state sets its own taxes, distribution rules and sometimes prices, so every state is a separate regulated market. Mansion House brandy carries the company, and much of its sales are in southern India.
Moat: narrow (brand, distribution). Mansion House has strong regional brand loyalty in brandy, a category with far fewer big competitors than whisky.
Headquarters: Mumbai, India · Founded: 1933 · Employees: 922
Size Tilaknagar Industries (TI.NS) is an India Consumer Staples company (Beverages: Alcoholic) with a market value of $1.27B, the 530th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹485.50 on 6 Nov 2026.
Performance Over six months the shares gained 3.4%, against -10.4% for the median peer and 0.0% for the India market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 150.1% over the last twelve months (peer median -3.9%); the operating margin is 10.5% (peer median 10.9%).
Valuation It trades at 50.4× forward earnings against a peer median of 27.7× (5th most expensive of 20).
Capital Return on invested capital runs 6.4 points below its cost of capital (12.0% WACC).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹36.5B | ₹22.8B | ₹13.5B | ₹13.9B | ₹11.6B |
| Revenue growth | — | +69% | -3% | +20% | — |
| Gross profit | ₹12.9B | ₹7.08B | ₹4.68B | ₹5.42B | ₹4.07B |
| EBITDA | ₹5.39B | ₹4.29B | ₹2.57B | ₹1.87B | ₹1.46B |
| Net income | -₹665M | ₹209M | ₹2.30B | ₹1.38B | ₹1.50B |
| Free cash flow | n/a | -₹7.37B | ₹1.64B | ₹864M | ₹252M |
| Capital expenditure | n/a | ₹35.3B | ₹68.6M | ₹82.2M | ₹109M |
| Total debt | ₹22.1B | ₹23.0B | ₹442M | ₹1.21B | ₹2.56B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tilaknagar Industries TI.NS | $1.27B | +3% | +150% | 10% | 50.4× | n/a |
| United Spirits UNITDSPR.NS | $10.9B | +11% | 0% | 15% | 53.0× | 44.2% |
| Allied Blenders and Distillers ABDL.NS | $2.10B | +24% | -20% | 11% | 63.5× | n/a |
| Radico Khaitan RADICO.NS | $6.37B | +33% | +16% | 17% | 66.7× | 45.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TI.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.0% | +1.7% | 3rd lowest of 21 |
| 6-month return | +3.4% | -10.4% | 4th highest of 21 |
| Distance from 52-week high | -20.1% | -33.7% | 5th highest of 21 |
| Revenue growth (TTM) | +150.1% | -3.9% | highest of 21 |
| Operating margin | 10.5% | 10.9% | 10th lowest of 21 |
| Forward P/E | 50.4× | 27.7× | 5th most expensive of 20 |
| ROIC minus cost of capital | -6.4 pp | -1.7 pp | 4th lowest of 21 |
| EV / EBITDA | 26.1× | 6.9× | 2nd most expensive of 7 |
| Net debt / EBITDA | 3.9× | 2.3× | most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tilaknagar Industries TI.NS | India | $1.27B | +3% | +150% | 10% | 50.4× | n/a | n/a |
| Jinhui Liquor 603919.SS | China | $1.27B | -6% | -2% | 11% | 36.1× | 14.6% | +10.9% |
| Yantai Changyu Pioneer Wine 000869.SZ | China | $1.36B | -12% | -2% | 3% | 16.1× | 3.7% | -3.0% |
| Zhejiang Guyuelongshan Shaoxing Wine 600059.SS | China | $1.12B | -8% | -3% | 11% | 40.5× | n/a | n/a |
| Kuaijishan Shaoxing Rice Wine 601579.SS | China | $1.51B | +22% | +6% | 19% | 35.8× | 1.3% | +10.7% |
| Shede Spirits 600702.SS | China | $1.61B | -24% | -10% | -1% | 53.4× | n/a | n/a |
| Hebei Hengshui Laobaigan Liquor 600559.SS | China | $1.64B | -12% | -17% | 11% | 30.7× | 14.2% | +2.4% |
| Anhui Kouzi Distillery 603589.SS | China | $1.65B | -22% | -19% | 13% | 22.9× | n/a | n/a |
| Jiugui Liquor 000799.SZ | China | $1.70B | -18% | +19% | -3% | 271.1× | n/a | n/a |
| Hitejinro 000080.KS | South Korea | $846M | -3% | -5% | 7% | 13.2× | -4.6% | +2.1% |
| Compania Cervecerias Unidas S.A. Sponsored ADR CCU | United States | $2.02B | -9% | +6% | 7% | 13.7× | 0.4% | +5.5% |
| Sichuan Swellfun 600779.SS | China | $2.06B | -13% | -30% | 20% | 46.3× | 16.6% | +0.1% |
| Allied Blenders and Distillers ABDL.NS | India | $2.10B | +24% | -20% | 11% | 63.5× | n/a | n/a |
| Anhui Golden Seed Winery 600199.SS | China | $739M | -6% | -46% | -51% | 53.5× | n/a | n/a |
| Boston Beer SAM | United States | $2.24B | +12% | -4% | 5% | 21.0× | 6.5% | +2.5% |
| Xinjiang Yilite Industry 600197.SS | China | $669M | -23% | -26% | 14% | 27.7× | n/a | n/a |
| Olvi OLVAS.HE | Finland | $646M | -9% | +11% | 12% | 9.6× | -10.8% | +9.9% |
| GDH Supertime 001338.SZ | China | $629M | -37% | -15% | 2% | n/a | -7.8% | +6.9% |
| Chongqing Brewery 600132.SS | China | $2.88B | -28% | -4% | 20% | 17.3× | -8.9% | +6.2% |
| Guangzhou Zhujiang Brewery 002461.SZ | China | $2.91B | -15% | +2% | 15% | 19.8× | -5.8% | +6.9% |
| C&C CCR.L | United Kingdom | $527M | -2% | -3% | 5% | 12.1× | 2.8% | +15.5% |