Tilaknagar Industries has received Rs 10.36 crore as partial subsidy from the Government of Maharashtra, relating to the company`s past investments.Powered by Capital Market - Live News

Tilak Nagar Industries announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2024.Powered by Capital Market - Live News

Tilaknagar Industries announced a follow-on investment of Rs 13.15 crore, to be invested over a period of 18 months, in Spaceman Spirits Lab (SSL). With this funding, Tilaknagar Industries` stake in SSL, maker of premium Indian craft gin Samsara and craft rum Sitara, will increase from 10 per cent to 20 per cent on a fully diluted basis. Further, upon SSL achieving certain pre-agreed milestones, the definitive agreements provide an option for Tilaknagar Industries to invest or acquire further shares held by other shareholders as per a pre-determined valuation methodology.Maker of India`s highest selling brandy Mansion House, Tilaknagar Industries has also entered into a usership agreement with SSL. As per the agreement, Tilaknagar Industries will leverage its robust distribution network to sell Samsara Gin and Sitara Rum in certain states in India and abroad. This move will bolster sales of SSL`s premium craft spirits across markets in India and will contribute to additional business for Tilaknagar Industries.Powered by Capital Market - Live News

Net profit of Tilaknagar Industries rose 55.69% to Rs 40.09 crore in the quarter ended June 2024 as against Rs 25.75 crore during the previous quarter ended June 2023. Sales rose 2.98% to Rs 313.16 crore in the quarter ended June 2024 as against Rs 304.10 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales313.16304.10 3 OPM %16.0412.63 - PBDT47.8133.55 43 PBT40.0925.75 56 NP40.0925.75 56 Powered by Capital Market - Live News

Tilak Nagar Industries will hold a meeting of the Board of Directors of the Company on 12 August 2024.Powered by Capital Market - Live News