Investor Presentation

July 27, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block-G, Dalal Street, Bandra-Kurla Complex, Bandra (East), Mumbai 400001 Mumbai-400 051. Scrip Code : 507205 Symbol : TI Sub: Earnings Presentation for Unaudited Financial Results for Quarter ended June 30, 2026 Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith the Earnings Presentation for the Un-audited Financial Results for quarter ended June 30, 2026. The same is also available on our website at www.tilind.com. We request you to take the above information on record. Thanking you, Yours faithfully, For Tilaknagar Industries Ltd. Minuzeer Bamboat Company Secretary, Compliance Officer & Head – Legal Encl: A/a A legacy of crafted excellence Earnings Presentation – Q1 FY27 Disclaimer This presentation may include statements which may constitute forward-looking statements including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Tilaknagar Industries’ future business developments and economic performance. Forward looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forward-looking statements. The information and opinions contained in this presentation are current. The Company undertakes no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice. Tilaknagar Industries Ltd. 2 Q1 FY27 PERFORMANCE Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness. Robust Performance. Strong Growth Visibility. “ Integration Update: Q1 marked another quarter of successful progress on integration with ~90% of Imperial Blue (“IB”) operations being transitioned out of TSMA1, leaving only one state to be completed. As a result, exceptional costs relating to the transition are expected to reduce significantly over the remainder of FY27. Volumes & Market Share: Despite a challenging start to the quarter, our volumes remained resilient. Apr-26 was impacted by a combination of TSMA exit-related disruptions across Odisha, Punjab, Uttarakhand and Karnataka, as well as state elections in key markets such as Assam and West Bengal. Notwithstanding these temporary headwinds, our Q1 FY27 volumes grew by 9% QoQ, led by IB, which recorded 18% QoQ growth. Mansion House Brandy ("MHB") reached 2.6 million cases, reflecting growth of 7%+ YoY and 1%+ QoQ (despite seasonal softness in Q1). IB expanded market share across India by ~150 bps QoQ, with significant improvement in shares across North, West and South, Mr. Amit Dahanukar reflecting strong trade engagement and healthy consumer demand. Encouragingly, IB crossed 2 million cases in both May and June, Chairman & Managing Director reinforcing our confidence in delivering double-digit volume growth for the brand in FY27. Margins and Inflation: Ongoing geopolitical tensions led to inflationary pressures across packaging inputs, particularly glass, resulting in a Largest Domestic P&A meaningful increase in packaging costs during the quarter. Consequently, gross margins were under pressure. However, these pressures were IMFL Player in India partly offset by softened ENA2 prices. Looking ahead, we remain confident of improving upon the 15.5% baseline EBITDA margin achieved in Q4 FY26. Margin expansion will be supported by ongoing cost optimisation initiatives across packaging materials, manufacturing efficiencies and supply chain operations. Largest P&A Policy Update: The policy and regulatory environment also witnessed encouraging developments during the quarter. The India-UK Free Trade IMFL Player in South-India Agreement came into effect in mid-July and the reduced Scotch import costs are expected to show up in our financials from Q3 FY27. In addition, Karnataka – one of the largest markets for both IB and MHB, is witnessing strong growth on the back of the recent excise policy reforms, creating a favourable environment for sustained category growth. Highest Selling Going Forward: With the integration of IB now substantially completed, our focus will increasingly shift towards driving long-term growth. We Deluxe Whisky in Jun-26 are preparing to accelerate the expansion of our luxury and super-premium portfolio across key markets, while leveraging IB’s strong distribution network to introduce new products across premium price points. We believe these initiatives, alongside continued execution across Volumes at 2.2x our core brands, will further strengthen Tilaknagar Industries' growth trajectory.” SSL3 Business vs Q1FY26 Note: (1) TSMA refers to Transition Services and Manufacturing Agreement; (2) ENA refers to Extra Neutral Alcohol; (3) Spaceman Spirits Lab Tilaknagar Industries Ltd. 4 Key Highlights – Q1 FY27 Volumes Revenue1,2 NSR1,3 EBITDA1,2 PAT 1,2,4 F 8.7 mn cases INR 1,026 crore INR 1,183 /case INR 148 crores INR 76 crore 172% YoY & 9% 189% YoY & 9% 5.3% YoY & 1.5% 14.5% margin 7.4% margin QoQ increase QoQ increase QoQ increase Volume & Revenue Performance – Q1 FY27 Profitability Performance – Q1 FY27 ▪ Q1 FY27 Gross Profit2 of INR 432 crore and Gross Profit Margin of 42.1% Cases (in mn) Q1 FY27 o Fall of 305 bps vs 45.2% margin in Q4 FY26; fall on account of inflationary pressures Absolute YoY Growth QoQ Growth o Excluding impact of inflationary pressure, the gross margin would be in excess of 44.5%2 IB 5.4 NA5 17.7% Ex-IB 3.3 3.8% (3.2%) ▪ Q1 FY27 EBITDA2 of INR 148 crore and PAT2,4 of INR 76 crore MHB grew at 7%+ in Q1FY27 vs Q1FY26 Q1 is historically weaker vs Q4 due to seasonality o EBITDA margin1 at 14.5%; PAT margin1 at 7.4% ▪ Net revenue1 of INR 1,046 crore in Q1 FY27 (YoY growth of 166%) o YoY EBITDA growth of 166%; PAT growth of 52% o NSR4 for the combined business stands at INR 1,183 in Q1 FY27 vs INR 1,166 in Q4 o Excluding impact of inflationary pressure, the EBITDA margin would be ~17%2 and PAT margin would be ~10%2 FY26 o Net revenue (adjusted for subsidy) growth of 189% YoY in Q1 FY27 Notes: (1) Revenue (including past period for comparison) have been restated for change in presentation / disclosure which has been explained in Slide 45; (2) Adjusted for subsidy income; (3) NSR calculation has been updated for adjustment of cash discounts, breakages, wastages, etc. Comparable Q4 FY26 NSR is INR 1,166 per case. This is a calculation refinement only and has no impact on reported net revenue for current or prior periods; (4) Adjusted for exceptional items of INR 30 crores and amortization on intangible assets related to acquisition of INR 35 crores; (5) Acquisition of Imperial Blue was completed in Nov-25, hence, the YoY growth is not applicable Tilaknagar Industries Ltd. 5 Q1 FY27 – Financial Performance (Adjusted for Subsidy) NSR (₹ per case) Revenue (₹ crs) YoY QoQ YoY QoQ +5.3% +1.5% +188.6% +9.0% 1,183 1,026 1,300 1,123 1,300 1,166 1,183 1240 1,026 1,100 941 1,200 1,200 1,000 1,100 1,100 1040 900 1,000 1,000 840 900 900 640 355 800 800 800 440 700 700 700 600 600 240 600 500 500 40 500 Q1 FY26 Q1 FY27 Q4 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q4 FY26 Q1 FY27 Note: NSR calculation has been updated for adjustment of cash discounts, breakages, wastages, etc. This is a calculation refinement only and has no impact on reported net revenue for current or prior periods EBITDA (₹ crs) & EBITDA Margin (%) PAT (₹ crs) & PAT Margin (%) YoY QoQ YoY QoQ Margin 15.7% 14.5% 15.5% 14.5% Margin 13.9% 7.4% 7.8% 7.4% +52.4% +165.9% +1.7% +3.1% [Showing first 8,000 characters — download PDF for full document]