Piccadily Agro Industries Ltd logo

Piccadily Agro Industries Ltd

PICCADIL NSE

Key Fundamentals

MicrocapSugarConsumer Goods
Market Cap
₹6,882 Cr
Volatility
Moderate
P/E Ratio
48.59
EBITDA
₹229 Cr
Return on Equity
15.1%
Debt to Equity
0.59
Book Value
₹91.41
52W High
₹809.7
52W Low
₹515

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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36 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has delivered good profit growth of 50.3% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 7.61 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
25.27% ↗
Net Income Growth
41.17% ↗
Cash Flow Change
-153.05% ↘
ROE
-53.52% ↘
ROCE
-46.28% ↗
EBITDA Margin (Avg.)
-4.44% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 42d ago
AI opinion · based on fundamentals
Risk high

Piccadily Agro Industries trades at a market cap of ~₹6,514 crore with a PE of 46.3x and PB of 7.07x. The company delivered FY25 revenue of ₹893 crore (8% YoY growth) with EBITDA of ₹191 crore (up 25.4% YoY), though net profit declined 6.8% to ₹102 crore. Its premium spirits business (Indri Single Malt, Camikara Rum) grew 40% in FY25, but overall earnings growth decelerated sharply from the 354% PAT jump seen in FY24.

Bull Case 8
  • Premium spirits segment (Indri, Camikara) grew 40% in FY25, establishing the company in the fast-growing Indian single malt category
  • 5-year compounded profit CAGR of 50% demonstrates sustained long-term earnings trajectory from a low base
  • EBITDA expanded 25.4% YoY to ₹191.4 crore in FY25 with operating margin improving to ~22% from ~19% in FY24
  • 3-year ROE averaging 21% indicates efficient capital deployment relative to equity base
  • TTM sales growth of 30% significantly outpaces the 10-year compounded sales CAGR of 14%, indicating accelerating revenue momentum
  • Book value per share grew from ₹36.13 in FY24 to ₹72.39 in FY25, reflecting strong equity accretion
  • FY26 Q3 revenue surged 52.5% YoY to ₹313.8 crore with profit jumping 92%, showing re-acceleration after FY25 slowdown
  • Company crossed ₹1,100 crore revenue milestone in FY26 (66% growth), validating the premiumization thesis
Bear Case 8
  • Stock trades at 46.3x PE and 7.07x book value — expensive relative to FMCG and sugar sector peers
  • FY25 net profit declined 6.8% YoY to ₹102.34 crore from ₹109.76 crore despite revenue growth, indicating margin or one-off pressures
  • Company has not paid any dividend despite reporting repeated profits, with 0% payout in FY24 and FY25
  • Interest costs stood at ₹27.85 crore in FY25 (up from ₹15.72 crore in FY24), a 77% increase suggesting rising leverage, with concerns about interest capitalization
  • Dividend yield of just 0.03% offers virtually no income return to shareholders
  • Stock has already delivered 112% CAGR over 3 years, meaning much of the growth story may be priced in at current levels
  • Sugar business remains cyclical and dependent on government pricing policies, with recovery rates at 9.80% exposing operational variability
  • FY25 revenue growth decelerated to 8% from 30% in FY24, raising questions about consistency of top-line expansion

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Positives 1
  • IMWA hologram boosts Indri authenticity Jun 24

    Piccadily Agro announced rollout of IMWA Certification Hologram on Indri single malt whisky bottles, reinforcing authenticity and aligning with stringent Indian Single Malt Whisky production standards.

Neutral 2
  • Trading window closed for Q1FY26 Jun 22

    Trading window closed from July 1, 2026 until 48 hours after Q1FY26 results are declared, in compliance with SEBI PIT Regulations.

  • Auditors appointed via postal ballot Jun 18

    Statutory auditors appointed to fill a casual vacancy through postal ballot, with the resolution receiving 99.86% votes in favour.

TL;DR: Piccadily Agro is strengthening brand credibility for its flagship Indri whisky through the IMWA hologram certification, signalling continued focus on premiumisation. No headwinds emerged in recent news. Routine corporate governance actions (trading window closure, auditor appointment) indicate orderly compliance. The near-term outlook hinges on Q1FY26 results and sustained momentum in the premium spirits segment.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
219
114
178
269
196
185
182
255
214
212
276
335
251
Expenses
194
90
143
202
168
143
135
190
176
166
199
264
207
Operating Profit
25
24
34
67
28
42
48
66
38
46
78
71
44
OPM %
11%
21%
19%
25%
14%
23%
26%
26%
18%
22%
28%
21%
17%
Other Income
0
0
29
1
1
1
3
2
1
2
1
4
3
Interest
4
5
3
4
4
5
9
9
9
7
6
7
9
Depreciation
6
4
4
4
5
5
5
5
5
6
6
6
10
PBT
15
15
57
59
20
33
36
54
25
35
68
63
28
Tax %
26%
26%
21%
27%
29%
25%
32%
26%
26%
26%
29%
28%
24%
Net Profit
11
11
44
43
13
25
25
40
18
27
48
45
21
EPS in Rs
1.16
1.18
4.7
4.59
1.39
2.61
2.63
4.23
1.94
2.71
4.84
4.53
2.18
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
344
271
329
334
371
399
488
572
598
742
797
1,038
1,075
Expenses
316
248
282
308
344
359
437
503
537
592
614
804
836
Operating Profit
28
23
47
26
27
40
52
69
62
150
183
233
239
OPM %
8%
9%
14%
8%
7%
10%
11%
12%
10%
20%
23%
22%
22%
Other Income
6
7
1
5
9
-1
3
1
1
30
7
8
10
Interest
9
15
17
16
17
15
16
14
13
16
28
28
28
Depreciation
11
11
13
13
13
13
13
15
16
18
19
23
28
PBT
15
5
18
2
7
11
25
41
33
146
142
190
194
Tax %
39%
68%
57%
-148%
21%
-21%
29%
29%
30%
25%
28%
28%
—
Net Profit
9
2
8
5
2
19
18
29
22
110
102
138
141
EPS in Rs
0.94
0.16
0.84
0.48
0.23
2.03
1.9
3.1
2.37
11.63
10.85
13.95
14.26
Div. Payout %
0%
0%
0%
0%
0%
10%
26%
3%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
24
47
95
95
95
95
95
95
95
94
94
99
Reserves
110
86
59
64
55
75
91
112
137
245
586
802
Borrowings
85
156
128
144
131
126
125
135
154
172
308
531
Other Liabilities
130
102
141
156
189
166
198
187
207
228
156
208
Total Liabilities
349
391
423
458
470
461
509
529
593
739
1,144
1,639
Fixed Assets
149
162
156
152
148
141
135
144
195
218
282
580
CWIP
4
30
47
50
46
46
46
52
32
42
201
73
Investments
52
53
64
64
65
69
62
59
61
61
60
70
Other Assets
145
146
155
191
211
205
265
273
305
419
601
916
Total Assets
349
391
423
458
470
461
509
529
593
739
1,144
1,639
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
42
-6
98
41
58
0
22
45
37
51
-27
118
Investing
-22
-50
-46
-10
1
-8
0
-35
-52
-30
-270
-163
Financing
-22
54
-52
-30
-44
-4
-9
-22
12
-10
292
50
Net Cash Flow
-2
-2
0
1
15
-12
14
-12
-3
11
-5
5
Free Cash Flow
27
-64
74
29
53
-6
14
18
-5
29
-270
-40
CFO/OP
191
-6
208
174
216
8
55
82
77
44
10
64
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
3
15
15
24
41
30
38
32
42
67
63
85
Inventory Days
189
222
233
215
182
201
215
185
201
200
337
277
Days Payable
160
134
152
175
214
172
174
123
140
113
59
57
Cash Conversion Cycle
33
103
96
63
9
58
79
94
103
154
340
305
Working Capital Days
-48
-17
-70
-82
-101
-56
-28
-5
2
38
94
70
ROCE %
11%
8%
13%
6%
8%
10%
13%
17%
13%
30%
23%
18%

Shareholding Pattern

As of Jun 2026
Promoters 68.57%
Public 21.29%
Others 8.46%
DIIs 0.88%
FIIs 0.80%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Jul 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
70.90%
70.90%
70.90%
70.90%
70.96%
70.97%
70.97%
70.97%
70.97%
70.97%
70.97%
70.97%
70.97%
70.97%
70.97%
70.97%
70.97%
70.47%
70.97%
68.62%
68.62%
68.57%
68.57%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.17%
0.88%
0.78%
0.72%
0.72%
0.00%
0.95%
1.15%
0.76%
0.80%
DIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.04%
0.10%
0.10%
0.03%
0.01%
0.01%
0.01%
0.00%
0.97%
0.73%
0.78%
0.88%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
19.94%
19.41%
20.16%
20.41%
20.45%
21.05%
21.19%
21.16%
21.08%
21.06%
21.85%
22.09%
21.70%
21.30%
20.77%
20.76%
20.93%
21.15%
20.75%
20.25%
20.60%
21.17%
21.29%
Others
9.16%
9.69%
8.94%
8.69%
8.59%
7.98%
7.84%
7.87%
7.95%
7.97%
7.18%
6.90%
7.23%
7.46%
7.35%
7.48%
7.37%
7.65%
8.28%
9.21%
8.89%
8.72%
8.46%
No. of Shareholders
10,166
13,959
15,047
17,708
21,710
29,285
30,577
29,043
27,838
27,435
30,841
52,070
51,172
71,833
70,619
69,297
76,030
78,775
78,873
74,770
76,004
73,813
72,980

Documents

Frequently Asked Questions about Piccadily Agro Industries Ltd

What does Piccadily Agro Industries Ltd do?
Piccadily Agro Industries Ltd (PAIL), was incorporated in the year 1994 and started its commercial operations in 1997 as a sugar processing company. Later in 2007, PAIL has set up a distillery unit. At present the company is engaged in manufacturing sugar and distillery products at a manufacturi...
Where is Piccadily Agro Industries Ltd (PICCADIL) listed?
Piccadily Agro Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: PICCADIL and BSE: 530305. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Piccadily Agro Industries Ltd belong to?
Piccadily Agro Industries Ltd operates in the Consumer Goods sector within the Sugar industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Piccadily Agro Industries Ltd?
Piccadily Agro Industries Ltd has a market capitalisation of approximately ₹6882.31 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Piccadily Agro Industries Ltd?
The Price-to-Earnings (PE) ratio of Piccadily Agro Industries Ltd is 48.59. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Piccadily Agro Industries Ltd?
Over the past 52 weeks, Piccadily Agro Industries Ltd has traded between a low of ₹515 and a high of ₹809.7. This range helps investors understand the stock's price volatility and recent trading levels.
Does Piccadily Agro Industries Ltd pay dividends?
Yes, Piccadily Agro Industries Ltd has a dividend yield of 0.03%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Piccadily Agro Industries Ltd?
Piccadily Agro Industries Ltd has a Return on Equity (ROE) of 15.10%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Piccadily Agro Industries Ltd on Tapetide?
On Tapetide, you can view Piccadily Agro Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Piccadily Agro Industries Ltd (PAIL), was incorporated in the year 1994 and started its commercial operations in 1997 as a sugar processing company. Later in 2007, PAIL has set up a distillery unit. At present the company is engaged in manufacturing sugar and distillery products at a manufacturing plant in Haryana. [1]

Website picagro.com
CEO Mr. Harvinder Singh Chopra
Employees 289
Listed 2025-07-02
Face Value ₹ 10
Issued Size 9,78,60,769

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