Piccadily Agro Industries announced on June 4, 2026, the launch of Indri Ilika, a new travel retail exclusive expression from its Indri Single Malt Indian Whisky brand. The product is designed to celebrate the art of subtle peat and layered complexity, targeting discerning global travellers. This strategic move aims to strengthen the company's footprint in the international travel retail market, leveraging the brand's reputation as the world's fastest-growing single malt whisky.

Crafted at the Indri Distillery near the foothills of the Himalayas, Indri Ilika is matured in a rare combination of Ex-Spanish Sherry and Ex-American Bourbon oak casks. The whisky offers a balance of tropical fruit richness, gentle smokiness, and depth. Available exclusively through select global travel retail channels, Indri Ilika will retail at approximately USD 80.

Madhu Kanna, Head of International Business at Piccadily Distilleries, stated that the launch represents the company's continued pursuit of innovation and commitment to creating exceptional whiskies for evolving global consumers. He emphasized that travel retail remains a crucial platform for discovery and that Indri Ilika showcases both the elegance of peat and the distinctive character of Indian single malt whisky.

Brand Performance and Recognition

Since its inception, Indri has surpassed the landmark 100,000-case sales milestone for two consecutive years. The brand has secured top honours at prestigious competitions, including the World Whiskies Awards, Whiskies of the World Awards, International Whisky Competition, and Tokyo Whisky & Spirits Competition.

Tasting Profile

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE546C01010/df2086e504b44f17.pdf

Piccadily Agro Industries Limited has confirmed that the proceeds from its preferential issue of Compulsory Convertible Debentures and Convertible Warrants were utilized solely for the objects of the issue as disclosed in the offer document. The certification, covering the quarter ended 31.03.2026, was submitted to the stock exchanges in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company raised gross proceeds of ₹50 crore through the preferential allotment to M/s Soon-N-Sure Holdings Limited. M/s Jain & Associates, Chartered Accountants, the statutory auditors of the company, certified that no material deviations occurred in the utilization of these funds. The report confirms that the net proceeds remained at ₹50 crore as issue-related expenses were not recognized.

Utilization and Unutilized Funds

According to the auditor's report, no funds were utilized during the quarter for specific heads such as expansion of business, long-term working capital, or general corporate business. Consequently, the entire amount remains available as unutilized proceeds. These funds are currently invested in fixed deposits with Punjab National Bank and held in a current account balance.

Details of Unutilized Proceeds

The following table details the deployment of the unutilized proceeds as at 31.03.2026:

The market values for the fixed deposits are based on book values as the maturity dates are subsequent to the date of the certificate. The current account balance includes interest earned on the deposits. The company has not yet reported any specific utilization under the General Corporate Purpose (GCP) head in the report.