Tilaknagar Industries shares rose 1.07 percent to ₹493 on Monday morning, continuing their upward trend after reaching a 52-week high of ₹549.70 last month. The stock opened at ₹488 and hit an intraday high of ₹498, with 906,000 shares traded by late morning.
Choice Equity Broking has increased its revenue projections for the alcoholic beverage company, now estimating net revenues of ₹24.6 billion for FY26 and ₹53 billion for FY27. These figures reflect a 17.2 percent and 41.9 percent increase from previous forecasts, respectively. The brokerage maintained its ‘Buy’ rating on the stock with a target price of ₹650, indicating a potential upside of 33 percent from current levels.
This revision came after management confirmed the revenue contribution from the Imperial Blue acquisition. However, Choice Equity adjusted its margin forecast for FY28, decreasing it from 15.6 percent to 11.3 percent, based on channel checks, and reduced goodwill estimates from ₹26.19 billion to ₹10.88 billion.
In Q2 FY26, the company reported a 16.2 percent growth in volume, totaling 3.42 million cases, along with net revenue of ₹398 crore and a profit after tax of ₹53 crore. Chairman Amit Dahanukar noted market share gains in key regions and successful product launches in Odisha, Telangana, Kerala, and Karnataka as key drivers of growth.
The Competition Commission of India has approved the ₹41.2 billion acquisition of Imperial Blue, which is expected to close by Q3 FY26.
