TI Q2 FY27 Guidance vs Delivery (TI Management Mirror)

FY27 Volume Growth Guidance Reaffirmed at High Single-Digit to Low Double-Digit

In Q2 FY27, flagship brands Imperial Blue Whisky and Mansion House Brandy reported secondary volume growth of 8.5% and 7.1% QoQ, respectively. Management reaffirmed the guidance initially issued in the Mar'26 Qtr and maintained in the Jun'26 Qtr for high single-digit to low double-digit volume growth for the combined business in FY27, with the existing business expected to deliver mid-to-high single-digit growth and Imperial Blue at double-digit growth. Beyond FY27, management guides for mid-teens volume growth and mid-to-high teens revenue growth over the next couple of years, driven by new launches starting in FY28.