Tilaknagar Industries shares gained 1.07 per cent to trade at ₹493 on Monday morning, extending gains after hitting a 52-week high of ₹549.70 last month. The stock opened at ₹488 and touched an intraday high of ₹498, with 9.06 lakh shares changing hands by late morning.
Choice Equity Broking has revised its revenue estimates upward for the alcoholic beverage manufacturer, now projecting net revenues of ₹24.6 billion for FY26 and ₹53 billion for FY27, representing a 17.2 per cent and 41.9 per cent increase from earlier forecasts respectively. The brokerage maintained its ‘Buy’ rating with a target price of ₹650, implying a 33 per cent upside from current levels.
The revision follows confirmation from management about the Imperial Blue acquisition’s revenue contribution. However, Choice Equity lowered its margin forecast from 15.6 per cent to 11.3 per cent for FY28 based on channel checks, while reducing goodwill estimates from ₹26.19 billion to ₹10.88 billion.
The company reported 16.2 per cent volume growth to 34.2 lakh cases in Q2 FY26, with net revenue at ₹398 crore and profit after tax of ₹53 crore. Chairman Amit Dahanukar cited market share gains across key markets and successful launches in Odisha, Telangana, Kerala and Karnataka as growth drivers.
The Competition Commission of India has approved the ₹41.2 billion Imperial Blue acquisition, expected to close by Q3 FY26.