Investor presentation on finacial results for the year and quarter ended on 31.03.2025
PICCADIL · price
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Awaiting price reaction for this filing.
Piccadily Agro Industries reported FY25 total income of ₹893 crore, up 7.7% year-on-year, with EBITDA rising 25.4% to ₹191 crore and EBITDA margin expanding 300 basis points to 21.4%. Profit after tax grew 22% to ₹105 crore (excluding exceptional items) and EPS stood at ₹11. The distillery segment led growth with revenue up 15.2%, while the sugar business declined 9.4%. Indian-made foreign liquor (IMFL) volumes surged 46% year-on-year, now contributing 43% of revenue, with flagship brand Indri capturing an estimated 55% share of India's single malt export market. The company raised ₹312 crore through CCDs and warrants (₹50 crore from promoters) to fund capacity expansions at Indri (Haryana), Chhattisgarh, and a new malt distillery in Scotland. Credit rating improved to A- from BBB+, and the company is evaluating options including potential divestment or demerger of the sugar business.
Strong margin expansion and IMFL-led growth signal improving profitability and a clear shift toward premium, branded spirits, which should support the stock. However, higher finance costs from expansion funding and continued capex may pressure near-term returns, even as long-term capacity build-out positions the company for further growth.