The announcement was made after market hours on Monday, 16 April 2012.

Meanwhile, the BSE Sensex was down 10.23 points, or 0.06%, to 17,140.72.

On BSE, 1.67 lakh shares were traded in the counter as against an average daily volume of 3.20 lakh shares in the past one quarter.

The stock hit a high of Rs 61.65 and a low of Rs 60.10 so far during the day. The stock had hit a 52-week high of Rs 69.25 on 18 April 2011. The stock had hit a 52-week low of Rs 27.50 on 3 October 2011.

The stock had outperformed the market over the past one month until 16 April 2012, falling 0.25% compared with the Sensex's 1.80% fall. The scrip had also outperformed the market in past one quarter, rising 62.88% as against 5.94% rise in the Sensex.

The small-cap company has an equity capital of Rs 115.72 crore. Face value per share is Rs 10.

Tilaknagar Industries said it received eligibility certificate for its project at Shrirampur from Government of Maharashtra, which will entitle the company for subsidy equivalent to 100% of eligible investment of Rs 254.62 crore by way of refund of tax payable under MVAT and CST during 7 years ending on 26 March 2018. This shall be computed after setting off the credits available for MVAT and CST. The company will also be entitled for an exemption in electricity duty for 7 years ending on 26 March 2018.

On a consolidated basis, Tilaknagar Industries' net profit rose 50.9% to Rs 16.63 crore on 16.5% growth in net sales to Rs 148.81 crore in Q3 December 2011 over Q3 December 2010.

Tilaknagar Industries (TI) is one of the renowned Indian Made Foreign Liquor players (including whisky, brandy, gin, rum and vodka) with presence across India. The company manufactures, markets and sells more than 40 brands across all price points. The company exports its products to Western Africa, the Middle East, the Far East and Caribbean countries.