Piccadily’s revenue rises by 8% in FY25

Piccadily Agro Industries Ltd. has reported a Profit before Tax (PBT) of ₹144.2 crore, marking a 21.5 percent increase in FY25 from ₹118.7 crore (before exceptional items) in the previous financial year. The company’s revenue from operations rose 8 percent year-on-year to ₹893 crore in FY25 from ₹829 crore in FY24. This growth was underpinned by an EBITDA of ₹191.4 crore, up 25.4 percent YoY from ₹152.6 crore, indicating a significant improvement in operating margins.

A major highlight of the company’s performance was its Indian Made Foreign Liquor (IMFL) division, which recorded a 40 percent growth in revenue, climbing to ₹380 crore in FY25 from ₹272 crore in FY24. The surge was driven by strong global demand for Indri Single Malt Whisky, which grew 37 percent by volume, and Camikara, India’s first pure cane juice rum, which witnessed an explosive 310 percent  growth by volume. Whistler blended malt whisky also saw a robust 56 percent volume growth.

Speaking on the company’s performance, CFO Natwar Aggarwal said, “We are extremely bullish on the long-term potential of the premium IMFL category, which continues to drive higher EBITDA margins, rising from 18.4 percent to 21.4 percent. We are actively leveraging both organic and inorganic growth opportunities to accelerate our momentum.”  He also confirmed that over ₹500 crore has been invested for capacity expansion at Indri and in the upcoming Chhattisgarh project, which is expected to be commissioned within FY26.

The company’s expansion strategy includes scaling the Indri distillery’s capacity to 250 kilo litres per day (KLPD), with ENA/ethanol at 220 KLPD and malt spirit at 30 KLPD. The Chhattisgarh facility, currently under development, will have a capacity of 210 KLPD for ENA and ethanol production. Additionally, Piccadily has increased its warehousing capacity from 45,000 to 75,000 barrels, with plans to scale beyond 1 lakh barrels, supporting its long-term ageing goals.

Looking ahead, Piccadily is set for a bold next phase of growth with plans to launch two luxury and two ultra-luxury products, expand global travel retail operations, and boost exports to the US, EU, UAE, and Asia-Pacific markets.