Scheme of Arrangement and Demerger between Piccadily Agro Industries Limited ('Demerged Company') and Piccadily Food & Essentials Limited ('Resulting Company') and their respective shareholders and creditors under section 230 to 232 and other applicable provisions of the Companies Act, 2013
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The Board of Piccadily Agro Industries Limited has approved a scheme of arrangement for demerger of its Sugar Business into Piccadily Food & Essentials Limited (PFEL), a wholly owned subsidiary. Post-demerger, PAIL will retain the Distillery Business while PFEL will house the Sugar Business, creating two separately listed companies with proportionate shareholding. The transaction requires approvals from NCLT, SEBI, BSE, NSE, and shareholders/creditors of both companies. The company also reported strong FY26 standalone revenue of Rs 4,13,506 lakhs and net profit of Rs 13,956 lakhs. Additionally, statutory auditors changed from Jain & Associates to Rattan Kaur & Associates.
The demerger separates two distinct businesses into standalone listed entities, potentially unlocking value by allowing market-specific valuations. Existing shareholders of PAIL will receive proportionate shares in the new listed sugar entity upon completion.