Multibagger IMFL Maker Company to Acquire Imperial Blue for Rs 4,150 Crores; Stock Hits 52-Week High

Tilaknagar Industries Limited (TI), a leading Indian-Made Foreign Liquor (IMFL) manufacturer, has signed a definitive agreement to acquire the Imperial Blue (IB) business division from Pernod Ricard India Private Limited. The acquisition, valued at an enterprise value of €412.6 million (approximately Rs 4,150 crores), includes a deferred payment of €28 million (around Rs 282 crores) due four years after closing.

Imperial Blue, the third-largest whisky brand in India by volume, reported sales of 22.4 million 9-litre cases and revenue of Rs 3,067 crores in the year ended March 2025. The transaction covers two owned units and services from co-manufacturing bottlers across India. The acquisition will significantly strengthen TI’s presence in the whisky segment, building on its leadership in the brandy category through its flagship Mansion House Brandy.

With the addition of Imperial Blue, TI’s combined portfolio is projected to achieve 34 million 9-litre cases annually. Chairman and Managing Director Amit Dahanukar stated that Imperial Blue will be pivotal in TI’s whisky premiumisation journey, complementing its organic growth and distribution network.

The deal, the largest in the Indian alcoholic beverage sector by an Indian company, awaits Competition Commission of India (CCI) approval and is expected to close within six months. Tilaknagar Industries plans to finance the acquisition via a mix of debt and equity, with Deutsche Bank and Avendus Capital acting as financial advisors.

For FY25, TI reported revenue of Rs 1,434 crores and EBITDA of Rs 226 crores. Consolidated total income stood at Rs 3,191.55 crores with net profit at Rs 239.43 crores. The company’s shares closed at Rs 468.3 on July 23, 2025, down 0.44 per cent intraday, after hitting an intraday high of Rs 483.80 and a low of Rs 444.15. TI has delivered multibagger returns of 100.74 per cent over one year, 484.37 per cent over three years, and 2,450.13 per cent over five years.

Tilaknagar Industries operates 21 manufacturing units across 12 states with a portfolio that includes Mansion House and Courrier Napoleon brandies, Mansion House Whisky, Madiraa Rum, and Blue Lagoon Gin. The company has recently forayed into the premium brandy market with Monarch Legacy Edition.

Shares of Tilaknagar Industries Ltd ended at Rs 473.05 on the BSE, up by Rs 3.45 or 0.73 per cent. On a year-to-date (YTD) basis, the stock has gained 12.04 per cent. Over the past 12 months, it has delivered 99.26 per cent returns, nearing multibagger status, and is currently trading at its 52-week high. Over a five-year period, Tilaknagar Industries has delivered an impressive 2,529 per cent return.

Disclaimer: The article is for informational purposes only and not investment advice.