Piccadily Agro Industries Ltd

₹ 607 -0.65%

30 Apr - close price

About

Piccadily Agro Industries Ltd (PAIL), was incorporated in the year 1994 and started its commercial operations in 1997 as a sugar processing company. Later in 2007, PAIL has set up a distillery unit. At present the company is engaged in manufacturing sugar and distillery products at a manufacturing plant in Haryana. ^[1]

Key Points

Business Segments
1) Distillery^[1]
The distillery segment is their core focus, encompassing bulk products (ENA, Ethanol, IMIL/Country Liquor, Malt Spirit, DOGS/DDGS) and branded IMFL (premium/luxury whiskies, rum, vodka).The division plans a strategic shift towards premium Indian Made Foreign Liquor (IMFL) brands.

Website BSE NSE

Market Cap ₹ 5,986 Cr.
Current Price ₹ 607
High / Low ₹ 806 / 483
Stock P/E 43.5
Book Value ₹ 91.4
Dividend Yield 0.00 %
ROCE 18.0 %
ROE 17.4 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 50.3% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Fast Moving Consumer Goods Fast Moving Consumer Goods Beverages Breweries & Distilleries

Part of BSE Fast Moving Consumer Goods Nifty Microcap 250 Nifty Total Market BSE 1000

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	200	219	114	178	269	196	185	182	255	214	212	276	335
	185	194	90	143	202	168	143	135	190	176	166	199	264
Operating Profit	15	25	24	34	67	28	42	48	66	38	46	78	71
OPM %	7%	11%	21%	19%	25%	14%	23%	26%	26%	18%	22%	28%	21%
	0	0	0	29	1	1	1	3	2	1	2	1	4
Interest	3	4	5	3	4	4	5	9	9	9	7	6	7
Depreciation	4	6	4	4	4	5	5	5	5	5	6	6	6
Profit before tax	9	15	15	57	59	20	33	36	54	25	35	68	63
Tax %	42%	26%	26%	21%	27%	29%	25%	32%	26%	26%	26%	29%	28%
	5	11	11	44	43	13	25	25	40	18	27	48	45
EPS in Rs	0.50	1.16	1.18	4.70	4.59	1.39	2.61	2.63	4.23	1.94	2.71	4.84	4.53
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	344	271	329	334	371	399	488	572	598	742	797	1,038
	316	248	282	308	344	359	437	503	537	592	614	804
Operating Profit	28	23	47	26	27	40	52	69	62	150	183	233
OPM %	8%	9%	14%	8%	7%	10%	11%	12%	10%	20%	23%	22%
	6	7	1	5	9	-1	3	1	1	30	7	8
Interest	9	15	17	16	17	15	16	14	13	16	28	28
Depreciation	11	11	13	13	13	13	13	15	16	18	19	23
Profit before tax	15	5	18	2	7	11	25	41	33	146	142	190
Tax %	39%	68%	57%	-148%	21%	-21%	29%	29%	30%	25%	28%	28%
	9	2	8	5	2	19	18	29	22	110	102	138
EPS in Rs	0.94	0.16	0.84	0.48	0.23	2.03	1.90	3.10	2.37	11.63	10.85	13.95
Dividend Payout %	0%	0%	0%	0%	0%	10%	26%	3%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	14%
5 Years:	16%
3 Years:	20%
TTM:	30%

Compounded Profit Growth
10 Years:	57%
5 Years:	50%
3 Years:	83%
TTM:	34%

Stock Price CAGR
10 Years:	53%
5 Years:	111%
3 Years:	134%
1 Year:	14%

Return on Equity
10 Years:	15%
5 Years:	19%
3 Years:	21%
Last Year:	17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	24	47	95	95	95	95	95	95	95	94	94	99
Reserves	110	86	59	64	55	75	91	112	137	245	586	802
	85	156	128	144	131	126	125	135	154	172	308	531
	130	102	141	156	189	166	198	187	207	228	156	208
Total Liabilities	349	391	423	458	470	461	509	529	593	739	1,144	1,639
	149	162	156	152	148	141	135	144	195	218	282	580
CWIP	4	30	47	50	46	46	46	52	32	42	201	73
Investments	52	53	64	64	65	69	62	59	61	61	60	70
	145	146	155	191	211	205	265	273	305	419	601	916
Total Assets	349	391	423	458	470	461	509	529	593	739	1,144	1,639

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	42	-6	98	41	58	-0	22	45	37	51	-27	118
	-22	-50	-46	-10	1	-8	0	-35	-52	-30	-270	-163
	-22	54	-52	-30	-44	-4	-9	-22	12	-10	292	50
Net Cash Flow	-2	-2	0	1	15	-12	14	-12	-3	11	-5	5
Free Cash Flow	27	-64	74	29	53	-6	14	18	-5	29	-270	-40
CFO/OP	191%	-6%	208%	174%	216%	8%	55%	82%	77%	44%	10%	64%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	3	15	15	24	41	30	38	32	42	67	63	85
Inventory Days	189	222	233	215	182	201	215	185	201	200	337	277
Days Payable	160	134	152	175	214	172	174	123	140	113	59	57
Cash Conversion Cycle	33	103	96	63	9	58	79	94	103	154	340	305
Working Capital Days	-48	-17	-70	-82	-101	-56	-28	-5	2	38	94	70
ROCE %	11%	8%	13%	6%	8%	10%	13%	17%	13%	30%	23%	18%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Jun 2025

Sugar Recovery Percentage
% ・Standalone data

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	x,xxx,xxx	xxx,xxx	xxx,xxx	x,xxx,xxx		x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx
				x,xxx,xxx		x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx
						xx	x,xxx	xx,xxx	xxx,xxx
								xx	xxx	xx
								xx,xxx	xx,xxx	xx,xxx
									xx	xx
									xx,xxx	xx,xxx
									xx

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Sugarcane Crushed
Quintals ・Standalone data

Malt Spirit Production
Bulk Liters ・Standalone data

Country Liquor Production (Malta)
Cases ・Standalone data

Indri Single Malt Sales Volume
Cases ・Standalone data

Ethanol/ENA Distillery Capacity (Indri)
KLPD ・Standalone data

Liquid Under Maturation (Number of Barrels)
Units ・Standalone data

Malt Distillery Capacity (Indri)
KLPD ・Standalone data

Retail Outlets Presence (India)
Units ・Standalone data

Market Share of Indian Single Malt Industry
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	70.97%	70.97%	70.97%	70.97%	70.97%	70.97%	70.97%	70.97%	70.47%	68.62%	68.62%	68.56%
	0.00%	0.00%	0.00%	0.00%	0.17%	0.88%	0.78%	0.71%	0.73%	0.95%	1.15%	0.76%
	0.00%	0.00%	0.04%	0.10%	0.10%	0.03%	0.01%	0.01%	0.00%	0.97%	0.74%	0.79%
	29.02%	29.03%	29.00%	28.92%	28.76%	28.13%	28.24%	28.30%	28.80%	29.46%	29.50%	29.90%
No. of Shareholders	27,435	30,841	52,070	51,172	71,833	70,619	69,297	76,030	78,875	74,770	76,004	73,813

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	70.90%	70.90%	70.90%	70.90%	70.90%	70.96%	70.97%	70.97%	70.97%	68.56%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.71%	0.76%
	0.00%	0.00%	0.00%	0.00%	1.72%	0.00%	0.00%	0.10%	0.01%	0.79%
	29.10%	29.10%	29.10%	29.09%	27.38%	29.04%	29.02%	28.92%	28.30%	29.90%
No. of Shareholders	11,708	10,555	10,148	9,975	10,166	21,710	27,838	51,172	76,030	73,813

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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