**Business Performance & Key Financials:** Tilaknagar Industries posted a robust Q1 FY27. Net revenue hit a record ₹1,046 Cr.

Total volumes reached 8.7M cases, driven by Imperial Blue (IB) strong QoQ growth and Mansion House Brandy (MHB) up YoY.

EBITDA was ₹148 Cr (14.5% margin) and PAT ₹76 Cr (7.4% margin), despite gross margin pressure from packaging costs. **Growth Drivers & Strategy:** IB integration is almost done (>90%). Focus shifts to accelerating luxury & super-premium portfolio expansion, leveraging IB’s distribution for Pan-India reach.

Investments in craft spirits and cocktail mixers are key. **Recent Developments:** New luxury brands, Monarch Legacy Edition Brandy & Seven Islands Pure Malt Whisky, launched in West Bengal.

Sitara Spiced Rum expanded to the UK.

India-UK Free Trade Agreement is expected to cut Scotch import costs from Q3 FY27. **Management Outlook:** Management targets 16-18% EBITDA margins by FY29 via cost optimization.

They expect double-digit volume growth for IB and mid-teen growth for the business in FY27, prioritizing premiumization.