Tilaknagar Industries Ltd, a leading manufacturer of alcoholic beverages including IMFL (Indian Made Foreign Liquor), plans to invest Rs 150 crore for capacity expansion of their 50 KLPD plant, and setting up of their greenfield grain-based spirit project. The Board has recommended a dividend of 21%, (Rs.2.10 per equity share), subject to shareholders’ approval.

For the year ended March 31, 2008, Tilaknagar Industries’ PAT climbed 87% YoY to Rs. 16.21 crore from Rs 8.65 crore in the last fiscal. The Company’s Gross Sales for FY08, including Net Income from tie-ups stands at Rs 226.78 crores, a hop of 102.28%, as against Rs 112.11 crores in the last fiscal. There was a substantial jump in the total sales volume from 1.31 million cases in the previous fiscal to 4.21 million cases in FY 2007-’08, notching a growth of 221.37 per cent.

Announcing the results, Mr. Amit Dahanukar, Chairman & Managing Director of Tilaknagar Industries Ltd. said, “The increase in sales was driven by increased efforts in distribution and aggressive marketing inputs. We hope to sustain the growth pattern in the coming years, thereby maximizing shareholders’ returns.”

The Company is readying to invest Rs. 150 crores to be requisitioned through debt, equity and internal accruals, for use in the expansion of their plant from 50 KLPD to 100 KLPD (Kilo Litres Per Day), and diversification to grain spirit-based alcohol plant, approval for which has been received from the Excise Department.

Taking advantage of the subsidies being given by the Maharashtra government, TI plans to set up a grain distillery plant capable of producing 1,00,000 ltrs. of spirit per day in the state. TI has already received the letter of intent for their application for a Grain distillery license from the state government.

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About Tilaknagar Industries Ltd.

Mumbai-based Tilaknagar Industries Ltd is primarily engaged in the business of manufacturing and marketing of Indian Made Foreign Liquor (IMFL), which consists of whisky, rum, gin and vodka with a strong presence in the brandy market. TI’s brand portfolio consists of Senate Royale, Courrier Napoleon, Mansion House, Classic Whisky, Shot whisky and Hottt silk whisky. TI brand Shot whisky crossed one million cases in sales in 2007-08. At present, their products like Senate Whisky and Classic Whisky are being exported to Western Africa, the Middle East, the Far East and the Caribbean countries.