Piccadily Agro Industries has announced that its distillery arm, Piccadily Distillery, secured top honours across two of the world's most prestigious spirits competitions — the London Spirits Competition 2026 and the Asian Spirits Masters 2026 — marking a significant milestone for Indian spirits on the global stage. The announcement was made via a press release dated 12th May 2026.

London Spirits Competition 2026: Standout Performances Across Categories

At the London Spirits Competition 2026 (UK), Piccadily Distillery's portfolio delivered notable results across multiple spirit categories. The following table summarises the awards received:

Indri Agneya was awarded an exceptional 95 points and crowned 'Indian Single Malt Whisky of the Year', described as one of the competition's highest distinctions. Cashmir Vodka achieved an outstanding 96 points and a Double Gold rating, placing it among the highest-scoring spirits in its category.

Asian Spirits Masters 2026: A Clean Sweep of Master Awards

Building on its performance at the London Spirits Competition, Piccadily Distillery achieved a clean sweep at the Asian Spirits Masters 2026, securing Master Awards — the competition's highest honour — across three distinct expressions. Additionally, Camikara Rum 3-Year-Old earned a Gold Medal, further underscoring the distillery's breadth across its rum portfolio.

This cross-category recognition spans whisky, rum, and vodka, reflecting a broad range of craftsmanship from a single distillery.

Company Statement

Commenting on the accolades, Shalini Sharma, Head of Marketing, Piccadily Distillery, said: "These accolades mark a shift in global perception. Piccadily isn't just competing; we're setting new benchmarks. Across whisky, rum and vodka, our portfolio showcases the depth, quality and innovation of Indian spirits. This recognition reinforces our belief that India is ready to lead the global stage. We're proud to represent India and redefine how the world experiences its spirits."

About Piccadily Agro Industries Limited

Piccadily Agro Industries Limited (PAIL) is a publicly listed company with manufacturing facilities in Indri, Haryana and Chhattisgarh, equipped for the production of Malt Spirit, Extra Neutral Alcohol (ENA) and Ethanol. The company operates in the premium spirits segment with brands including Indri Single Malt, Camikara, Kashmir, and Whistler, which have gained recognition across domestic and international markets. PAIL has noted that Indri Single Malt has become one of the fastest-growing single malt whisky brands globally.

Piccadily Agro Industries Limited reported its FY26 audited financial results at a Board meeting held on April 28, 2026, achieving a significant milestone with standalone revenue crossing INR1,000 crores to reach INR1,143 crores, representing a 28% year-on-year increase from INR893 crores in the previous year. The company's profit after tax grew 33% from INR105 crores to INR140 crores, while profit before tax increased 33% from INR144 crores to INR190 crores. On a standalone basis, Q4 revenue grew 33% year-on-year from INR270 crores to INR364 crores, with PAT rising 14% from INR40 crores to INR46 crores.

Financial Performance

The Alco-Bev (Distillery) business emerged as the primary growth driver, recording a 42% year-on-year increase in revenue from INR639 crores to INR908 crores, with segment profitability growing 37% from INR150 crores to INR209 crores. In Q4, the brand portfolio business demonstrated robust performance with revenue growing 67% year-on-year from INR150 crores to INR250 crores, and profit before tax increasing 79% from INR35 crores to INR63 crores. The audited standalone financial results for the quarter and year ended March 31, 2026 reflect total income of Rs. 1,14,284.22 lakhs for the full year, with profit before tax of Rs. 19,235.01 lakhs and profit for the period of Rs. 13,955.87 lakhs. Basic and diluted EPS (standalone) stood at Rs. 14.42 per equity share for the full year.

The following table summarises the key standalone financial metrics:

On a consolidated basis, total income for the year ended March 31, 2026 stood at Rs. 1,14,284.22 lakhs, with profit before tax of Rs. 19,028.75 lakhs and net profit after tax of Rs. 13,740.09 lakhs. The consolidated basic and diluted EPS stood at Rs. 14.21 per equity share. The consolidated results include the holding company, overseas subsidiary Portavadie Distillers and Blenders Ltd. (Scotland, UK), Indian subsidiaries Six Tress & Drinks Private Limited and Piccadily Food & Essentials Limited, and Indian associate Piccadily Sugar & Allied Industries Limited.

Standalone Balance Sheet Highlights

The audited standalone balance sheet as at March 31, 2026 reflects total assets of Rs. 1,63,964.14 lakhs, compared to Rs. 1,14,606.12 lakhs as at March 31, 2025. Total equity attributable to shareholders stood at Rs. 90,291.08 lakhs. Key balance sheet items are presented below:

Segment Performance

The standalone segment data for the year ended March 31, 2026 shows the Distillery segment contributing revenue of Rs. 90,201.21 lakhs and segment profit of Rs. 23,872.46 lakhs, while the Sugar segment recorded revenue of Rs. 23,305.03 lakhs with a segment loss of Rs. 904.62 lakhs. On a consolidated basis, the Distillery segment reported revenue of Rs. 63,675.55 lakhs and the Sugar segment contributed Rs. 24,950.10 lakhs for the year ended March 31, 2025 comparative period. Total consolidated segment assets as at March 31, 2026 stood at Rs. 1,63,919.01 lakhs.

Operational Expansion and Capacity

The company has significantly expanded its operational capabilities to meet growing demand. The Indri distillery expansion was completed in October 2025, scaling ENA and ethanol capacity from 78 KLPD to 220 KLPD and malt capacity from 12 KLPD to 30 KLPD. Additionally, a greenfield distillery in Mahasamund, Chhattisgarh, with 200 KLPD capacity was commissioned in December 2025. The total distillery capacity now stands at 450 KLPD, comprising 30 KLPD of malt and 420 KLPD of ENA and ethanol. For FY27, the company expects the Indri plant to generate additional revenue of INR250 crores to INR300 crores, while the Chhattisgarh plant is projected to contribute INR300 crores to INR400 crores. Management anticipates 60-70% revenue growth in FY27, with the company aiming to grow revenue by 3x to 4x over the next 3 to 4 years. The company currently holds approximately 85,000 barrels and plans to increase this to 100,000 barrels in the current year, with capex for FY27 expected to be around INR25 crores to INR30 crores.

Sugar Business Demerger Scheme

The Board of Directors, at its meeting held on April 28, 2026, approved a Scheme of Arrangement for the demerger of the company's Sugar Business into Piccadily Food & Essential Limited (PFEL), a wholly owned subsidiary of the company. The proposed transaction is subject to requisite approvals from statutory and regulatory authorities, including the National Company Law Tribunal, BSE Limited, National Stock Exchange of India Limited, SEBI, and the respective shareholders and creditors of both entities. Upon effectiveness of the Scheme, PFEL will be separately listed on BSE and NSE, resulting in two listed companies with proportionate shareholding. The Sugar Business, as defined in the Scheme, covers manufacturing, marketing, sales and distribution of white crystal sugar from sugarcane and allied products, as well as by-products such as bagasse boards and paper.

Key details of the demerger scheme are summarised below:

The rationale for the demerger includes enabling focused attention on core businesses, attracting targeted investments, unlocking shareholder value through price discovery of individual entities, and providing greater business and capital allocation clarity for both companies. The Board also approved the report under Section 232(2)(c) of the Companies Act, 2013, explaining the effect of the Scheme on shareholders, key managerial personnel, promoters, and non-promoter shareholders.

Auditor Change

Jain & Associates, Chartered Accountants (FRN: 001361N), the company's statutory auditors, tendered their resignation on April 28, 2026, citing personal reasons and non-renewal of the firm's Peer Review Certificate. The Audit Committee noted that no concerns were raised by the outgoing auditors in connection with their resignation. The Board, on the recommendation of the Audit Committee, has recommended the appointment of Rattan Kaur & Associates, Chartered Accountants (ICAI Firm Registration No. 022513N), as statutory auditors to fill the casual vacancy, subject to shareholder approval at an Extraordinary General Meeting or Postal Ballot. Rattan Kaur & Associates was established in 2009, is based in Chandigarh, holds Peer Review Certificate Number 014929 valid till January 31, 2027, and provides audit and advisory services to banks, NBFCs, corporates, and government companies. The outgoing auditors issued an audit report with an unmodified opinion on the audited financial results (standalone and consolidated) for the year ended March 31, 2026.