Piccadily Agro Industries Limited has won a significant legal victory in its trademark infringement case against Radico Khaitan Limited. The District Court of Karnal has issued an interim order restraining Radico Khaitan from using the 'KASHMYR' brand for its vodka products, marking a crucial development in the ongoing dispute between the two liquor manufacturers.

The Trademark Dispute

The conflict centers around Piccadily's registered trademarks 'CASHMERE' and 'CASHMIR' for luxury vodka products. Piccadily had registered 'CASHMERE' in 2015 and subsequently secured 'CASHMIR' in 2023. The company launched its first luxury vodka under the 'CASHMIR' brand on May 23, 2025.

Following Piccadily's launch, Radico Khaitan introduced a vodka product under the brand name 'KASHMYR' on July 28, 2025. This move prompted Piccadily to file a commercial suit against Radico Khaitan, alleging trademark infringement and passing off.

Court's Interim Order

On September 23, 2025, the District Court of Karnal issued an interim order in favor of Piccadily Agro Industries. The court restrained Radico Khaitan, its subsidiaries, officers, and agents from:

• Manufacturing, selling, offering for sale, advertising, or promoting products under the 'KASHMYR' brand
• Using the 'KASHMYR' mark in isolation or in conjunction with any prefix/suffix
• Employing any mark deceptively similar to Piccadily's registered trademarks 'CASHMIR' and 'CASHMERE'

This injunction will remain in effect until the final adjudication of the case.

Implications and Company Statements

Piccadily Agro Industries has stated that it does not expect any financial implications from the litigation. The quantum of claims in the case remains sub judice.

In its disclosure to the stock exchanges, Piccadily emphasized the phonetic similarity between 'KASHMYR' and its registered marks, arguing that Radico Khaitan's product could cause consumer confusion, especially given that both vodkas are in the same category and price point.

Looking Ahead

The case highlights the intensifying competition in India's premium vodka market and the importance of intellectual property protection in the liquor industry. As the matter remains sub judice, industry observers will be keenly watching for the final outcome of this high-stakes trademark battle between two prominent players in the Indian spirits sector.

Piccadily Agro Industries has committed to providing further updates on the case as material developments occur, in line with its obligations under SEBI regulations.

Additional Company Update

In a separate development, Piccadily Agro Industries also announced the conversion of 6,36,942 warrants into fully paid-up equity shares. These shares were allotted to M/s Soon N Sure Holdings Limited, a promoter entity, at an issue price of Rs. 785.00 per share. This conversion has resulted in an increase in the company's paid-up capital from Rs. 97,86,07,690.00 to Rs. 98,49,77,110.00.

This equity infusion, totaling approximately Rs. 49.99 crore, may provide Piccadily with additional financial resources as it navigates the competitive landscape and legal challenges in the premium spirits market.

Piccadily Agro Industries Limited, a company operating in the agro-industrial sector, has announced a crucial board meeting scheduled for September 24, 2025. The primary focus of this meeting will be the consideration of converting 6,36,943 convertible warrants into an equal number of equity shares.

Key Points of the Upcoming Board Meeting

• Date: September 24, 2025
• Main Agenda: Approval of the conversion of 6,36,943 convertible warrants into equity shares
• Additional Discussions: Other business matters as decided by the Board of Directors

Implications of Warrant Conversion

The potential conversion of warrants into equity shares is a significant move that could impact the company's capital structure. If approved, this conversion would result in:

1. An increase in the number of outstanding equity shares
2. Potential dilution of existing shareholders' stakes
3. Infusion of additional capital into the company, depending on the terms of the warrants

Regulatory Compliance

In line with regulatory requirements, Piccadily Agro Industries has duly informed both the BSE Limited and the National Stock Exchange of India Limited about this scheduled meeting. This disclosure aligns with Regulation 29(1)(d) of the Securities & Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations 2015, which mandates prior intimation of board meetings discussing such matters.

Company Background

Piccadily Agro Industries Limited is registered in Haryana, India, with its corporate office located in Gurugram. The company's shares are listed on both the BSE and NSE.