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Tilaknagar Industries Limited (BSE: 507205) (NSE: TI) has reported a Profit After Tax (PAT) of Rs 23.2 crore in the quarter ended March 2022, as against a net loss of Rs 9 crore in the year-ago period. The company recorded a 25 per cent increase in net revenue from operations at Rs 241.1 crore in the January-March quarter 2022 as against, Rs 192.3 crore in the corresponding quarter a year ago.The company registered a 152 per cent rise in its Earnings Before Interest Tax Depreciation and Amortization (EBITDA) at Rs 25.8 crore in the quarter ended March 2022, as against Rs 10.2 crore in the same period a year ago. Makers and promoters of the famous 'Mansion House' Brand, TI reported a 13 per cent growth in sales volumes to 19.49 lakh cases in the quarter under review from 17.20 lakh cases in the same period last year. The company's annual sales volumes reported a robust growth of 23 per cent in FY22 at 67.31 lakh cases.Returning to dividend payment after a gap of eight years, the Board of Directors recommended a dividend of Rs 0.10 per equity share of the face value of Rs 10 each for FY22.The Board of Directors also approved raising Rs 85 crore by way of a preferential issue of equity shares of Rs 47.5 crore and warrants of Rs 37.5 crore. The company will issue a total of 65,97,221 equity shares at Rs 72 per equity share and 52,08,333 warrants at Rs 72 per warrant. The preferential issue is being made to the company's long term channel partners in the important southern states of Kerala, Andhra Pradesh and Telangana, namely, A Jaipal Reddy, KC Sheker Reddy, S.S Spirits LLP and M&S Bottling Company Pvt. Ltd. For the warrants issued, the tenure will not exceed twelve months from the date of allotment.Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries said, "The equity investment by our channel partners is a testament of their belief in the company's long term prospects. Besides deepening our association with important stakeholders, the object of this issue would be to augment the working capital resources of the company and to accelerate the debt repayment."This fund raise brings to a close the company's Rs 200 crore capital infusion program to make the company near-debt free over the next 2 years. The debt reduction will be achieved through a combination of the fund raise and internal accruals of the company, Dahanukar added.TI had earlier raised another Rs 126 crore through a preferential issue.As of March 2022, TI's debt has significantly decreased by Rs 750 crore to Rs 449 crore from Rs 1199 crore as on March 2019. The company aims to become debt-free by FY24.This story is provided by NewsVoirwill not be responsible in any way for the content of this article. (ANI/NewsVoir)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :Tilaknagar Industries revenue surges 25 per cent in Q4, PAT rises to Rs 23 crore declares dividend

Tilaknagar Industries Limited (BSE: 507205) (NSE: TI) has reported a Profit After Tax (PAT) of Rs 23.2 crore in the quarter ended March 2022, as against a net loss of Rs 9 crore in the year ago period. The company recorded a 25 per cent increase in n ...