Piccadily Agro Industries Limited · NSE:PICCADIL
Piccadily Agro Industries — Q3 FY2025-26 Earnings Presentation
51 slides from Piccadily Agro Industries's earnings presentation, Jan 21, 2026
Slide 1: Exchange filing cover letter
Dated: 21st Jan 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 presen
Slide 2: Q3 & 9M FY2025-26 Earnings Presentation
Q3 & 9M FY2025-26 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 During Q3, alco-bev volumes grew by over 70% year-on-year, driven by improved supply and the seasonally strong nature of the quarter for our portfolio. Leveraging the expanded production capacity, we remain focused on sustaining robust growth in the quarters ahead. In line with
Slide 5: Q3 & 9M FY2025-26 Performance Highlights
Q3 & 9M 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: Q3 & 9M FY2025-26 Highlights
Q3 & 9M FY2025-26 Highlights: Q3 9M J 315.2crore J 79.7crore J 779.2crore J 167.1crore Total Income EBITDA Total Income EBITDA 51.3% Y-o-Y growth 56.7% Y-o-Y growth 25.9% Y-o-Y growth 35.7% Y-o-Y growth J 48.1crore 25.3% J 93.6crore 21.4% PAT EBITDA Margin PAT EBITDA Margin 92.3%* Y-o-Y growth 90 bp
Slide 7: Financial Performance
Financial Performance Standalone Profit & loss Standalone Financials Q3 Y-o-Y Q2 Q-o-Q 9M Y-o-Y Particular (Figures in J Cr) FY26 FY25 Growth (%) FY26 Growth (%) FY26 FY25 Growth (%) Revenue from Distillery Vertical 285.0 183.9 54.9% 207.9 37.1% 655.7 488.0 34.4% Revenue from Sugar Vertical 28.8 21.
Slide 8: Financial Performance contd...
Financial Performance contd... Standalone Financials Q3 Y-o-Y Q2 Q-o-Q 9M Y-o-Y Particular (Figures in J Cr) FY26 FY25 Growth (%) FY26 Growth (%) FY25 FY24 Growth (%) EBITDA 79.7 50.9 56.7% 48.4 64.7% 167.1 123.1 35.7% Finance Costs 5.6 9.3 -40.1% 6.5 -14.2% 20.7 18.8 10.2% Depreciation And Amortiza
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... Q3 9M Company Company Revenue from operations grew 52.5% YoY Revenue from operations grew 26.2% YoY Distillery by 54.9% and sugar by 32.2%. Distillery by 34.4% and sugar EBITDA increased 56.7% YoY declined by 5.3% EBITDA increased 35.7% YoY Distillery Distillery Share
Slide 11: Q3 & 9M FY2025-26 Business Highlights
Q3 & 9M FY2025-26 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
Slide 12: Q3 & 9M FY2025-26 Business Highlights Contd.
Q3 & 9M FY2025-26 Business Highlights Contd. IMFL sales continue their growth trajectory Maturation capacity enhanced IMFL (Indri, Camikara, Whistler and Cashmir) sales volumes grew 70% in Q3 Number of barrels at 80,800 – additional procurement ongoing IMFL demand continues to trend up Products / Ex
Slide 13: 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 14: 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 14
Slide 15: 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 16: 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 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 2025 2024 2023 2022 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 1994 Indri single City Series
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 Hong Kong
Slide 22: 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 22
Slide 23: Indri - Raising The Bar
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 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: 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 26: 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 26
Slide 27: 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 Price/bottle in Haryana (₹) (J 2,000 – 5,000) 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 28: 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 28
Slide 29: 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 29
Slide 30: 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 30
Slide 31: 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 31
Slide 32: Indri 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 33: 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 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 completed – excise approval for utilising full Indri Mumbai and Bengaluru City Series Edition launched capacity at Indri is in progress Indri Diwali Co
Slide 35: Scaling for the Future: Expanding Horizons
Scaling for the Future: Expanding Horizons, Strengthening Capabilities Indri, Haryana Mahasamund, Chhattisgarh Expansion completed 200 KLPD distillery for ENA, (excise approval for utilising Ethanol commissioned. full capacity in Indri is in progress) to increase distillery capacity from 78 KLPD to
Slide 36: 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 37: Expansion Update contd.
Expansion Update contd. Mahasamund, Chhattisgarh Milestones: Highlights Capex 200 KLPD distillery for ENA, Ethanol commissioned Year XX Production approval received Board Land Funding Commencement approval acquisition tie up of construction /installation Activity Year XX Machinery Completion of Tria
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 Cashmir at India Cocktail Week, Gurugram Camikara at India Cocktail Week, Gurugram Cashmir at India Cocktail Week, Gurugram Indri tasting session at Bengaluru 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: Experiential Events
Experiential Events Indri & Camikara curated dinner Indri at BMW store launch with Anoothi Vishal Golden Hours with Camikara Camikara at Jazz Weekender 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 Camikara Cocktail Promotion Camikara Event Collaboration Camikara Event Collaboration Camikara Cocktail Promotion 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 Indri Retail Promotion - Gurugram Whistler Consumer Offer- Bag pack Indri Retail Promotion - Rajasthan Cashmir - Visibility Elements Support 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 Bengaluru Duty Free
Activations at Bengaluru 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
Digital Footprints Influencer Collaboration - Camikara Influencer Campaign - Whistler Media Coverage - Indri Infuencer Collaboration - Media Coverage - Indri Camikara 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. 603K Views 283K Views 115K 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: 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 48: Awards and Recognition: Q3 - 9M FY2025-26
Awards and Recognition: Q3 - 9M 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 49: Awards and Recognition: Q3 - 9M FY2025-26
Awards and Recognition: Q3 - 9M FY2025-26 Whistler Blended Malt Cashmir Vodka Camikara 12 YO Camikara 8 YO Camikara 3 YO Whisky Silver - 89 points, Gold - Global Vodka Silver - 89 Points, Bronze - 77 Australian Masters 2025 - The Australian International Points, Australian Silver Medal- Silver Inter
Slide 50: Awards and Recognition - Company
Awards and Recognition - Company : Q3 - 9M FY2025-26 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 A
Slide 51: 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
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