Piccadily Agro Industries Limited · NSE:PICCADIL
Piccadily Agro Industries — Q4 FY2025-26 Earnings Presentation
58 slides from Piccadily Agro Industries's earnings presentation, Apr 28, 2026
Slide 1: Cover letter to stock exchanges
Dated: 28th April, 2026 To, To, BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block Dalal Street, Mumbai – 400 001 Bandra Kurla Complex, Bandra East, Mumbai-400051 BSE Scrip Code : 530305 NSE Symbol: PICCADIL Subject: Earnings pre
Slide 2: Q4 & FY 2025-26 Earnings Presentation
Q4 & FY 2025-26 Earnings Presentation
Slide 3: Disclaimer
Disclaimer This presentation may include forward-looking statements regarding our Company’s future performance, including sales, revenues, earnings, strategic initiatives and market positioning. These statements are based on management’s current expectations but are subject to uncertainties such as
Slide 4: Management's Message
Management’s Message We are pleased to report two defining achievements for FY26. We expanded our Indri distillery and commissioned a new greenfield facility in Chhattisgarh, both completed within budgeted cost estimates. The Distillery business delivered strong financial performance, with revenue g
Slide 5: Q4 & FY 2025-26 Performance Highlights
Q4 & FY 2025-26 Performance Highlights P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 5
Slide 6: Company Snapshots FY2026
Company Snapshots FY2026 30 KLPD 420 KLPD 83,800 4 IMFL brands Ethanol/ ENA plants Indri, Camikara, Malt plant Number of Barrels in Haryana and Cashmir and Whistler Chhattisgarh Indri top selling #1 Indian Single Malt globally and India 29 30 29 Countries Duty Free Outlets Indian States & UT’s Among
Slide 7: Q4 & FY 2025-26 Highlights
Q4 & FY 2025-26 Highlights: Q4 FY26 J 363.6crore J 76.1crore J 1,142.9crore J 243.3crore Total Income EBITDA Total Income EBITDA 32.8% Y-o-Y growth 11.4% Y-o-Y growth 28.0% Y-o-Y growth 27.1% Y-o-Y growth J 45.9crore 22.6% J 139.6crore 23.4% PAT EBITDA Margin* PAT EBITDA Margin* 13.8%* Y-o-Y growth
Slide 8: Financial Performance
Financial Performance Standalone Profit & loss Standalone Financials Q4 Y-o-Y Q3 Q-o-Q 12M Y-o-Y Particular (Figures in J Cr) FY26 FY25 Growth (%) FY26 Growth (%) FY26 FY25 Growth (%) Revenue from Distillery Vertical 246.3 148.7 65.6% 285.0 -13.6% 902.1 636.8 41.7% Revenue from Sugar Vertical 113.2
Slide 9: Financial Performance contd...
Financial Performance contd... Standalone Financials Q4 Y-o-Y Q3 Q-o-Q 12M Y-o-Y Particular (Figures in J Cr) FY26 FY25 Growth (%) FY26 Growth (%) FY26 FY25 Growth (%) EBITDA 76.1 68.3 11.4% 79.7 -4.5% 243.3 191.4 27.1% Finance Costs 6.9 9.0 -23.0% 5.6 24.2 % 27.7 27.8 -0.6 % Depreciation And Amorti
Slide 10: Financial performance contd...
Financial performance contd... Q4 FY26 Company Company Revenue from operations grew 32.4% YoY Revenue from operations grew 28.1% to Distillery grew by 65.6% and sugar declined by Rs 1,135.1 Cr led by distillery 7.9%. Commissioning of expansions at Indri helped EBITDA increased 11.4% YoY address supp
Slide 11: Q4 & FY 2025-26 Business Highlights
Q4 & FY 2025-26 Business Highlights Expansion at Indri facility and Chhattisgarh facility completed - adds heft Indri Facility Expansion Indri aims to be in top 5 single malts globally Enhanced capacity in manufacturing and storage will lead to adequate supply for achieving our long term goals for I
Slide 12: Q4 & FY 2025-26 Business Highlights Contd.
Q4 & FY 2025-26 Business Highlights Contd. IMFL sales continue their growth trajectory Maturation capacity enhanced IMFL (Indri, Camikara, Cashmir and Whistler) sales volumes grew 48% in FY26 YoY Number of barrels at 83,800 – additional procurement ongoing IMFL demand continues to trend up especiall
Slide 13: Moving Towards Branded and Premium Portfolio
Moving Towards Branded and Premium Portfolio Over the last five years, we have steadily shifted our revenue profile from bulk commodity-based sales towards branded and premium alcoholic beverages. The focus has progressively shifted towards value-added and branded Indian Made Foreign Liquor (IMFL) p
Slide 14: EBITDA Margin by Business
EBITDA Margin by Business 35.0% 31.5% 30.2% 30.0% 26.9% 25.0% 23.4% 19.3% 21.4% 18.4% 20.0% 15.0% 10.0% 10.0% 1.5% -1.1% 0.0% -2.3 -5.0% -4.6% FY23 FY24 FY25 FY26 Sugar Company Distillery Distillery margin will depend on share of IMFL in sales and within that premium and luxury P I C C A D I LY E A
Slide 15: The Opportunity
The Opportunity Indian Economy Rising Urbanization Premiumization Continues India’s nominal GDP is India’s urban population is India’s whisky market is expected to grow from USD expected to exceed 40% by premiumising rapidly. IMFL 4 trillion to USD 7.3 trillion 2030 from current levels of whisky sal
Slide 16: Growth Drivers of Premium Alcohol Market in India
Growth Drivers of Premium Alcohol Market in India We have recorded consistent growth, driven by shifting consumer preferences and aligned with key market trends. Premiumisation Driven Strong Demand for Artisanal Ingredient and Process- Revenue Premium Spirits by Younger Consumers and Craft Spirits l
Slide 17: Company Overview
Company Overview P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 17
Slide 18: Introduction
Introduction Crafting Excellence, Redefining India’s Crafting the Future Premium Alco-Bev Landscape We operate across two strategic pillars, each driven by a commitment to excellence and innovation: Piccadily Agro Industries Ltd. (PAIL) is a name synonymous with heritage, craftsmanship and innovatio
Slide 19: Introduction contd...
Introduction contd... Architects of Premium Spirits A Portfolio of Distinction Piccadily Agro is at the forefront of India’s evolving spirits landscape, by driving premiumization and setting new benchmarks in craftsmanship and innovation. With an insightful grasp of market dynamics and a steadfast d
Slide 20: Our Journey
Our Journey 2026 2025 2024 2023 Launched 2022 Indri Rudhira Launched 2017 Cashmir, Indri Released Agneya, Dubai City Series, 2010 Indri Diwali Collectors Indri Diwali Expanded the Collectors 2007 Indri portfolio Edition 2024 Edition 2025 Introduced with Dru and and Bengaluru Diwali 2023 Rolled out 1
Slide 21: From Local to Global: A Journey of Excellence
From Local to Global: A Journey of Excellence Ladakh Jammu and Belgium Kashmir Leh Himachal Pradesh Norway Arunachal Pradesh Punjab Canada Latvia Uttrakhand Assam UK Poland Chandigarh Germany Haryana Meghalaya France Switzerland Delhi Spain Japan Uttar Pradesh USA Rajasthan 29 Israel Nepal Netherlan
Slide 22: Indri - Raising The Bar: A Spirit Designed to Inspire
Indri - Raising The Bar: A Spirit Designed to Inspire Indri is one of the most awarded Indian single malt whisky in the world. Launched in 2022, it has quickly become the fastest-growing single malt globally, earning over 50 prestigious accolades, including ‘Best Indian Single Malt’ and ‘Best Whisky
Slide 23: The Rise of Indri: Leading Brand Amongst Single Malts
The Rise of Indri : Leading Brand Amongst Single Malts in India, Winning Awards Globally Indri Diwali Collectors Edition 2025 Marsala Cask Finish took top honors as the Best World Whisky at the 2025 Las Vegas Global Spirits Awards with a near-perfect 99.1 There is increasing acceptance of Indian sin
Slide 24: Camikara
Camikara Camikara, derived from the Sanskrit word meaning “liquid gold,” is India’s first Pure Cane Juice Premium Aged Rum, redefining the country’s rum legacy. Aged in American oak barrels, Camikara stands apart with no added colors, flavors, sugar, or spices, delivering a truly authentic and refin
Slide 25: P I C C A D I LY E A R N I N
P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 25
Slide 26: Premium Spirits Across Price Segments
Mastery in Every Sip: Premium Spirits Across Price Segments Blended Whisky Aged Rum Single Malt Whisky Vodka (J 5,000+) ULTRA - LUXURY (J 2,000 – 5,000) Price/bottle in Haryana (J) LUXURY Coming Soon (J 1,000 – 2,000) PREMIUM (J 500-1,000) PRESTIGE P I C C A D I LY E A R N I N G S P R E S E N TAT I
Slide 27: Launches in FY2025-26
Launches in FY2025-26 Date of launch 23.5.25 P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 27
Slide 28: Launch 05.8.25
Date of launch 05.8.25 P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 28
Slide 29: Launch 24.07.25
Date of Launch 24.07.25 P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 29
Slide 30: Launch 03.10.25
Date of Launch 03.10.25 P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 30
Slide 31: Indri The City Series Mumbai Duty Free
Indri Single Malt Indian Whisky introduces The City Series with an exclusive Single Cask expression crafted for Mumbai Duty Free. Much like the city itself, this release is bold yet refined - a meeting of cultures, flavours and stories. From the salty sea breeze along Marine Drive to the golden glow
Slide 32: Bangalore City Series
Bangalore City Series WIP Indri unveils ‘The City Series’, a Small Batch release exclusively for Bengaluru Duty Free. The second edition continues to capture the city’s unmistakable spirit, a vibrant blend of tradition and innovation. Carefully selected casks come together in harmony, creating a whi
Slide 33: Limited Release: Indri Rudhira
Limited Release Indri Rudhira is a bold expression born from the pursuit of the rarest and most remarkable casks in whisky-making— led by the award-winning Indri by Piccadily Distillery, in collaboration with The Dram Club, to uncover rare and unique cask profiles. Limited to only 252 bottles, this
Slide 34: Charting the Path to Excellence: Our Strategic Vision
Charting the Path to Excellence: Our Strategic Vision Innovate Accelerate and Elevate Growth Distillery segment continues to grow Expansion at Indri distillery commisoned In FY26 we launched - Cashmir Vodka, Indri City Series – Dubai, Mumbai and Chhattisgarh green field distillery commisoned Bengalu
Slide 35: Scaling for the Future: Expanding Horizons, Strengthening Capabilities
Scaling for the Future: Expanding Horizons, Strengthening Capabilities Indri, Haryana Mahasamund, Chhattisgarh Expansion completed to 200 KLPD distillery for ENA, increase distillery capacity Ethanol commissioned. from 78 KLPD to 220 KLPD Planning to launch IMIL and for ENA, Ethanol and from 12 IMFL
Slide 36: Expansion Update
Expansion Update Indri, Haryana Highlights Expansion completed to increase distillery capacity from 78 KLPD to 220 KLPD for ENA, Ethanol and from 12 KLPD to 30 KLPD for malt. Barrels procurement ongoing to increase to 100,000 by March, 2027 Barrel warehousing capacity enhanced Planning to launch mor
Slide 37: Expansion Update contd.
Expansion Update contd. Mahasamund, Chhattisgarh 200 KLPD distillery for ENA, Ethanol commissioned Planning to launch IMIL & IMFL products Year XX Activity Year XX Activity P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 37
Slide 38: Expansion Update contd.
Expansion Update contd. Portavadie, Scotland Milestones: Highlights Capex Evaluation of suitable plant and machinery Year XX in progress Board Land Statutory Funding approval acquisition appovals tie up Likely commissioning in FY27 Activity Presence in Scotland provides access to single malt industr
Slide 39: Experiential Events
Experiential Events Whistler Ishq Sufiana with Kabuj Bukhari Indri at Anoothi Vishal Golden Hours with Camikara -Delhi Cashmir consumer led event Indri at ET AI Conclave Whistler Holi Celebrations Indri at Defence Bharat Event Whistler CSD-Navy Day P I C C A D I LY E A R N I N G S P R E S E N TAT I
Slide 40: Experiential Events
Experiential Events Whistler Valentine’s Day Michael Learns to Rock -Gurgaon Indri DWCA Ball - Italian Embassy Defence Bharat - Delhi Rudhira Launch Whistler Igloo party Camikara Boxout X Sehaj Malik, Method- Delhi P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 40
Slide 41: Activations at Key Outlets
Activations at Key Outlets Cocktail Promotion Event Collaboration On Trade Activation Tasting Stations P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 41
Slide 42: Activations at Retail Outlets
Activations at Retail Outlets Cashmir Retail Promotion in Haryana, U.P, U.K, H.P, Whistler Retail Consumer offers - Gururgam Punjab and Chandigarh Indri Kolkata Retail Visibility P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 42
Slide 43: Activations at Duty Free
Activations at Duty Free Indri Bengaluru Duty Free Indri Hyderabad Duty Free Indri Mumbai Duty Free P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 43
Slide 44: Digital Footprints - Influencer Activations
Digital Footprints - Influencer Activations The Dram Club Kirti Puri- Food Talk India Unsobered Igloo Party Campaign Tasting Session- dinedrinkrepeat P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 44
Slide 45: Digital Footprints
Digital Footprints Largest follower base of any Single Malt in India. Bar Takeover- Mix it up with Mendi Whistler Tasting by Amit Cashmir Influencer Marketing Kaura Camikara Cocktail Activation- Unsobered 123K followers P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 45
Slide 46: PR and Media Coverage
PR and Media Coverage P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 46
Slide 47: PR and Media Coverage
PR and Media Coverage P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 47
Slide 48: Indri Experience Centre
Indri Experience Centre P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 48
Slide 49: Indri Experience Centre
Indri Experience Centre Indri Experience Centre launched in Haryana to offer an immersive introduction to whisky making and tasting, enhancing consumer engagement and brand visibility. Includes guided tours, curated tastings and interactive exhibits Features sustainable architecture inspired by Nort
Slide 50: Indri Experience Centre
Indri Experience Centre Key Highlights: Curated launch experience hosted at the Indri Experience Centre, bringing together key media and influencers for an end-to-end immersive distillery journey — including a guided walkthrough from raw ingredients to distillation, exclusive access to the maturatio
Slide 51: Indri Experience Centre Digital Footprint
Indri Experience Centre Digital Footprint P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 51
Slide 52: Indri Experience Centre PR & Media Coverage
Indri Experience Centre PR & Media Coverage P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 52
Slide 53: From India to the World: A Story of Award-Winning Excellence
From India to the World: A Story of Award- Winning Excellence Piccadily Agro Industries Limited has emerged as a strong global spirits player, with award-winning brands like Indri, Camikara and Whistler showcasing quality, innovation and authenticity. From India’s first triple wood single malt to di
Slide 54: Awards and Recognition: Q4 & FY 2025-26
Awards and Recognition: Q4 & FY 2025-26 Indri- Dru Indri- Trini Indri- Agneya Indri- Diwali Collectors Edition ‘25 Gold - Asia World Spirit Gold Medal - Global World best whisky Best Single Malt, India- Silver - Miami Global Competition 2025- The World Whisky Masters award - Miami Global Gold- World
Slide 55: Awards and Recognition: Q4 & FY 2025-26
Awards and Recognition: Q4 & FY 2025-26 Whistler Blended Malt Cashmir Vodka Camikara 12 YO Camikara 8 YO Camikara 3 YO Whisky Silver Medal- Silver Silver - 89 points, Bronze - 77 Gold - Global Vodka Silver - 89 Points, Medal in Blended Malt Australian Points, Australian Masters 2025 - The Australian
Slide 56: Awards and Recognition - Company: Q4 & FY 2025-26
Awards and Recognition - Company : Q4 & FY 2025-26 Corporate Communicator of the Year - Gold Medal – Best Selling Brand in India 2025 – Spiritz Achievers’ Awards 2025 Fastest Growing Brand of the Year 2025 - Brews & Spirits - To Abhishek Haryson Spiritz Achievers’ Awards 2025 Best Brands in Bars Awa
Slide 57: Malt Manufacturing Process
Malt Manufacturing Process Farming Germinating Milling Mashing Bottling Maturing Distilling Fermenting P I C C A D I LY E A R N I N G S P R E S E N TAT I O N @ 2 0 2 5 - 2 6 57
Slide 58: For Further Information Contact: Investors Relations
For Further Information Contact: Investors Relations Piccadily Agro Industries Limited Ph.: +91-172-2997651 (Monday to Friday; IST 10 am to 5 pm) Website: www.piccadily.com Email: ir@piccadily.com
Piccadily Agro Industries — Q4 FY2025-26 Earnings Presentation on 6ix