Piccadily Agro Industries Limited · NSE:PICCADIL
Piccadily Agro Industries — Q2 FY2025-26 Earnings Presentation
45 slides from Piccadily Agro Industries's earnings presentation, Nov 7, 2025
Slide 1: Stock exchange filing cover letter
Dated: 07-11-2025 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 presentat
Slide 2: Q2 & H1 FY2025-26 Earnings Presentation
Q2 & H1 FY2025-26 Earnings Presentation 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 2
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 The company, during Q2, continued to grow its distillery business and within that its IMFL business has shown sustained demand from consumers both in India and overseas. The expansion project at Indri for Malt and ENA/ Ethanol capacity has been commissioned. With continuing proc
Slide 5: Q2 & H1 FY2025-26 Performance Highlights
Q2 & H1 FY2025-26 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: Q2 & H1 FY2025-26 Highlights
Q2 & H1 FY2025-26 Highlights: Q2 H1 J 234.3crore J 48.4crore J 464.0crore J 87.4crore Total Income EBITDA Total Income EBITDA 16.2% Y-o-Y growth 11% Y-o-Y growth 13.0% Y-o-Y growth 21% Y-o-Y growth J 26.7crore 20.7% J 45.4crore 18.8% PAT EBITDA Margin PAT EBITDA Margin 7.1%* Y-o-Y growth -90 bps Y-o
Slide 7: Financial Performance
Financial Performance Standalone Profit & loss Standalone Financials Q2 Y-o-Y Q1 Q-o-Q H1 Y-o-Y Particular (Figures in J Cr) FY26 FY25 Growth (%) FY26 Growth (%) FY26 FY25 Growth (%) Revenue from Distillery Vertical 207.9 184.9 12.4% 162.8 27.7% 370.7 304.1 21.9% Revenue from Sugar Vertical 24.8 15.
Slide 8: Financial Performance contd...
Financial Performance contd... Standalone Financials Q2 Y-o-Y Q1 Q-o-Q H1 Y-o-Y Particular (Figures in J Cr) FY26 FY25 Growth (%) FY26 Growth (%) FY25 FY24 Growth (%) EBITDA 48.4 43.6 11.0% 39.0 21.5% 77.4 72.2 21.0% Finance Costs 6.5 5.5 20.4% 8.6 -24.4% 15.1 9.5 58.9% Depreciation And Amortization
Slide 9: Profitability Trends
Profitability Trends 21.4% 11.7% 18.4% 10.3% 12.2% 5.1% 10% 3.9% 70 64 153 191 29 25 86 105 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 EBITDA Margin PAT Margin EBITDA (in H crore) PAT (excluding exeptional item) (in H crore) 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 9
Slide 10: Financial performance contd...
Financial performance contd... Q2 H1 Company Company Revenue from operations grew 16.2% YoY Revenue from operations grew 12.9% YoY Distillery by 12.4% and sugar by 58.7%. Distillery Distillery by 21.9% and sugar growth expected to pick up in H2. declined by 13.2% EBITDA increased 11% YoY EBITDA incr
Slide 11: Q2 & H1 FY2025-26 Business Highlights
Q2 & H1 FY2025-26 Business Highlights Indri expansion completed 28 countries, 16 Indian Duty free and 12 International Duty free - focus Indri aims to be in top 5 single malts globally continues - to add more Barrels procurement on track Participated, domestically and Enhanced capacity of liquid alo
Slide 12: Moving Towards Branded and Premium Portfolio
Moving Towards Branded and Premium Portfolio Over the last four 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 13: EBITDA Margin by Business
EDITDA Margin by Business 35.0% 30.2% 30.0% 26.9% 25.0% 19.3% 21.4% 18.4% 20.0% 15.0% 10.0% 10.0% 1.5% -1.1% 0.0% -2.3 -5.0% FY23 FY24 FY25 Sugar Company Distillery Distillery margin will depend on share of IMFL in sales 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 13
Slide 14: 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 Strong Demand for Ingredient and Revenue Premium Spirits Driven by Younger Artisanal and Craft Spirits Process-led Innovati
Slide 15: The Rise of Indri: Leading Brand Amongst Single Malts, Winning Awards
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 16: 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 16
Slide 17: 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 18: 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 19: Our Journey
Our Journey 2025 2024 2023 2022 Launch of 2017 Cashmir Released 2010 Indri Diwali Launch of Expanded the Collectors Indri Agneya 2007 Indri portfolio Edition 2024 & Dubai City with Dru and Series Introduced Diwali 2023 Rolled out 1994 Indri single Edition Indri City Entered the malt whisky Launch of
Slide 20: 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 Italy USA Japan Rajasthan Uttar Pradesh 28 Nepal Hong Kong
Slide 21: 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 21
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: 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 24: Camikara Mixers
Camikara Mixers Introducing the all-new Camikara Non- Alcoholic Mixers in two vibrant flavours – Mojito and Mai Tai. Expertly crafted to elevate every pour, these tropical mixers capture the essence of iconic cocktails. Camikara mixers deliver a premium, bar-quality experience— bringing the spirit o
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: Mastery in Every Sip: 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) LUXURY Price/bottle (J) 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 O N @ 2 0 2
Slide 27: Recent Launches
Recent Launches 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: Date of 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: Date of 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: Date of 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: 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 completed - excise approval for utilising Indri Diwali Collectors’s Edition 2025 launched and it won capacity awaited, expansions at Chhattisgarh and P
Slide 32: Scaling for the Future: Expanding Horizons, Strengthening Capabilities
Scaling for the Future: Expanding Horizons, Strengthening Capabilities Indri, Haryana Mahasamund, Chhattisgarh Expansion completed A 210 KLPD distillery for ENA, (excise approval for utilising Ethanol boosting domestic capacity awaited) to production. increase distillery capacity from 78 KLPD to 220
Slide 33: Expansion Update
Expansion Update Indri, Haryana Milestones: Highlights Capex Expansion completed to increase distillery Year XX capacity from 78 KLPD to 220 KLPD Board Funding Commencement Machinery for ENA and from 12 KLPD to 30 KLPD approval tie up of construction order for malt. Activity /installation Excise app
Slide 34: Expansion Update contd.
Expansion Update contd. Mahasamund, Chhattisgarh Milestones: Highlights Capex Setting up of 210 KLPD distillery for ENA, Ethanol Year XX on track Board Land Funding Commencement Expected to be commissioned in H2 FY26 approval acquisition tie up of construction /installation Activity Year XX Machiner
Slide 35: 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 36: Marketing and Promotion - Building Brand Presence - Camikara
Marketing and Promotion - Domestic, International and Duty free Building Brand Presence - Camikara Camikara isn’t just tasted — it’s experienced. From intimate tastings to immersive brand showcases, every event brings the spirit of craftsmanship, authenticity and modern India to life. P I C C A D I
Slide 37: Building Brand Presence - Indri
Building Brand Presence - Indri Creating high-impact tasting sessions and immersive brand experiences, Indri is redefining how the world discovers Indian single malt — driving awareness, aspiration and advocacy across global markets. 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 -
Slide 38: Building Brand Presence - Cashmir
Building Brand Presence - Cashmir Our focused marketing efforts across tastings, collaborations, trainings have strengthened brand visibility, supported trade relationships and accelerated consumer trials. 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 38
Slide 39: Building Brand Presence - Whistler
Building Brand Presence - Whistler Strategic in-shop and wall bay branding initiatives have strengthened Whistler’s visibility at key retail touchpoints, driving consumer awareness and recall at the point of purchase. 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 39
Slide 40: Building Brand Presence – International Markets
Building Brand Presence – International Markets Strategic international activations- from trade shows to curated tastings and private dinners, strengthening brand visibility, expanding networks and opening new market opportunities. 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
Slide 41: Expanding Premium Reach Through Duty-Free Channels
Expanding Premium Reach Through Duty-Free Channels Strategic branding across domestic and international duty-free locations has strengthened the brand’s visibility among high- value travelers, driving awareness, trial and incremental revenue in key global markets P I C C A D I LY E A R N I N G S P R
Slide 42: 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 43: Awards and Recognition: Q2 - H1 FY2025-26
Awards and Recognition: Q2 - H1 FY2025-26 Indri- Dru Indri- Trini Indri- Agneya Indri- DCE ‘25 World best whisky Silver - Miami Global Gold - Asia World Spirit Gold Medal - Global award - Miami Global Spirits Awards 2025 Competition - The World Whisky Masters- Spirits Awards 2025 Tasting Alliance Th
Slide 44: Awards and Recognition: Q2 - H1 FY2025-26
Awards and Recognition: Q2 - H1 FY2025-26 Cashmir Vodka Camikara 12 YO Camikara 8 YO Camikara 3 YO Silver - 89 points, Gold - Global Vodka Silver - 89 Points, Bronze - 77 Australian Masters 2025 - The Australian International Points, Australian International Rum Spirits Business Rum Awards 2025 Inte
Slide 45: 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 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
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