Piccadily Agro Industries Limited has successfully incorporated a wholly owned subsidiary, Piccadily Food Essentials Limited, as part of its corporate expansion strategy. The company received the Certificate of Incorporation from the Central Registration Centre, Registrar of Companies on December 15, 2025.

Subsidiary Structure and Capital Details

The newly incorporated subsidiary has been established with specific capital parameters that reflect its initial operational scope:

Regulatory Compliance and Disclosure

The parent company has fulfilled its regulatory obligations by informing both BSE and NSE about the incorporation. This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with the SEBI Circular dated July 13, 2023.

Business Operations Status

According to the regulatory filing, Piccadily Food Essentials Limited has not yet commenced its business operations. The company falls under the related party transaction category as it represents a wholly owned subsidiary of Piccadily Agro Industries Limited, with the parent company maintaining complete control through its 100% shareholding.

Strategic Implications

The incorporation of this subsidiary represents Piccadily Agro Industries' strategic move to potentially expand into the food essentials sector. The establishment of a separate legal entity provides the parent company with operational flexibility and focused business development opportunities in this specific market segment.

The company has indicated that no specific governmental or regulatory approvals are required for this incorporation, and the initial capital subscription has been made entirely in cash. This development demonstrates Piccadily Agro Industries' commitment to diversifying its business portfolio while maintaining full operational control through the wholly owned subsidiary structure.

Piccadily Agro Industries has unveiled a new limited-edition expression in its Indri City Series, crafted exclusively for the duty-free market. The Mumbai edition represents the company's continued commitment to premium whisky craftsmanship and cultural storytelling through single malt expressions.

Product Launch Details

The new offering is a Red Wine Cask single malt whisky bottled at 48% ABV, created exclusively for Ospree Duty Free at Mumbai's Chhatrapati Shivaji Maharaj International Airport. This limited edition captures Mumbai's vibrant character, from Marine Drive's ocean breeze to the iconic Gateway of India.

Tasting Profile and Craftsmanship

The Mumbai edition offers a complex sensory experience designed to reflect the city's cinematic charm and energy. The whisky features intricate artwork inspired by Mumbai's iconic landmarks, complementing its rich depth and fruity opulence.

Tasting Notes:

• Nose: Mixed sweet fruit jam with raspberry highlights, tropical pineapple, floral notes, caramel, chocolate, and delicate toffee
• Palate: Full-bodied and expressive, with candied sweetness, Christmas cake richness, dried fruits, fig, and gently warming spice, balanced with oak and vanilla structure
• Finish: Smooth, bold, and lingering with layered complexity

Strategic Partnership and Market Positioning

Madhu Kanna, Head of International Business at Piccadily Distilleries, emphasized the brand's vision of bottling the heartbeat of India's iconic cities. The partnership with Ospree Duty Free aims to create memorable experiences for global travelers while elevating the travel retail journey.

The Ospree Duty Free spokesperson highlighted their commitment to offering limited-edition expressions that capture local spirit and vibrancy, providing customers with not just a whisky but a story of the city they can take home.

Company Background and Market Leadership

Piccadily Agro Industries Limited operates primarily in two strategic business segments: Distillery and Sugar. The company's manufacturing facility in Indri, Haryana, spans 168 acres and produces a diverse range including Malt, Extra Neutral Alcohol, Ethanol, and White Crystal Sugar.

The company launched its flagship Indri single malt whisky brand in 2022, targeting discerning consumers who appreciate quality craftsmanship. Through premiumization strategies and technical capabilities, Piccadily has positioned itself as the fastest-growing single malt whisky brand in 2024, leading India's whisky renaissance with innovation rooted in authenticity and world-class craftsmanship.