The Board of Tilaknagar Industries on 24 April 2021 has approved allotment of 1,39,03,752 equity shares of Rs 10 each to Edelweiss Asset Reconstruction Company at an issue price of Rs 24.36 per share towards conversion of part of the debt owned to it by the company amounting to Rs 33.86 crore into equity shares of the company on preferential basis.

Post aforesaid allotment, the paid up capital of the company is Rs. 1,39,33,83,550 divided into 13,93,38,355 equity shares.

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Tilaknagar Industries has entered and executed an agreement on 1 April 2021 with Pernod Ricard India (PRIPL) to manufacture products for PRIPL at the company's bottling facilities in Maharashtra.

The agreement is effective immediately and shall remain valid for the period of 10 years and shall be renewable thereafter by mutual consent. The co-operation could be extended to more states in the near future.

Shares of Tilaknagar Industries rallied for third trading session. The stock has added nearly 24% in three days from its previous closing low of Rs 29.45 posted on 31 March 2021.

Tilaknagar Industries is engaged in manufacturing Indian Made Foreign Liquor (IMFL). The company posted a consolidated loss of Rs 3.89 crore in Q3 FY21 as against a net loss of Rs 37.46 crore in Q3 FY20. Net sales rose 2.2% to Rs 167.62 crore in Q3 FY21 over Q3 FY20.

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Net Loss of Tilaknagar Industries reported to Rs 3.89 crore in the quarter ended December 2020 as against net loss of Rs 37.46 crore during the previous quarter ended December 2019. Sales rose 2.24% to Rs 167.62 crore in the quarter ended December 2020 as against Rs 163.95 crore during the previous quarter ended December 2019.

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Tilak Nagar Industries will hold a meeting of the Board of Directors of the Company on 12 February 2021.

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