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Piccadily Agro share price & financials

Price
₹581.45
Market cap
₹5.9k Cr
Sector
Fast Moving Consumer Goods
Calls analysed
1
Latest concall · Q4 FY26 · call held 29 Apr 2026

Piccadily Agro Q4 FY26

Standalone Revenue ₹1,143 cr +28%Standalone PAT ₹140 cr +33%Standalone PBT ₹190 cr +33%

What went well

  • FY26 sales revenue surpassed INR1,000 crores, marking a significant milestone.
  • Alco-Bev business demonstrated robust growth of 42% YoY, reaching INR908 crores in FY26.
  • Standalone PBT increased by 33% YoY to INR190 crores in FY26, driven by premiumization.

What to watch

  • Q4 standalone EBITDA margin saw a slight drop of 300 bps due to seasonality in the sugar business and a mix shift.
  • Short-term borrowings increased by 132% in FY26, primarily due to working capital requirements for increased sales and a INR100 crores increase in malt inventory.
Read the full call →

What Piccadily Agro does

Piccadily Agro Industries makes and sells premium Indian Made Foreign Liquor (IMFL) brands — single malt whisky, cane-juice rum, blended malt whisky and vodka — alongside grain-based Extra Neutral Alcohol (ENA), ethanol, DDGS and white crystal sugar. It earns from two verticals: a Distillery business (malt, ENA/ethanol and branded IMFL) run out of its Indri, Haryana campus and a newer Chhattisgarh site, and a Sugar business that processes cane sourced from contracted farmers. Its IMFL is sold through retail, on-trade/HORECA, canteen stores and paramilitary channels domestically, and through duty-free and export channels internationally.

Segments

  • Distillery
  • Sugar
Malt distillation capacity
30 KLPD
Ethanol/ENA capacity
420 KLPD (Haryana and Chhattisgarh combined)
Sugarcane crushing capacity
5,000 TCD
Maturing barrels held
83,800 barrels
IMFL brands
4 (Indri, Camikara, Cashmir, Whistler)
Domestic footprint
29 Indian states & UTs; 25,000+ retail outlets including on-trade
Founded 1994Headquarters Gurugram, Haryana Company website

Guidance record · Q4 FY26

what the last two calls moved 10 tracked 0 delivered 0 missed 10 open
  • Overall Value Growth open said Q4 FY26 Promised: 60% to 70% growth in FY27 Q4 FY26: Owing to the above factor, we expect coming financial year FY '27 as an exceptional year for us. It's going to be exceptional year where the company is looking to grow at 60% to 70%.

All 10 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 17.3%, net profit up 16.7% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue185 182 255 214 212 +15%276 +52%335 +31%251 +17%
EBITDA42 48 66 38 46 +10%78 +63%71 +8%44 +16%
Net profit25 25 40 18 27 +8%48 +92%45 +13%21 +17%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −5.1% 1Y

₹500₹600₹700₹800Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q4 FY26 — 29 Apr 2026

1Y: ₹637.3 on 10 Sept 2025 → ₹605.05. High ₹784.55 (4 Aug 2026), low ₹517.75 (30 Mar 2026).

How the price took the results

close before → close after

Q4 FY26
−9.3%
29 Apr

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 19.4% a year over 3 years, FY23 to FY26. Operating margin widened to 22.5%.

Year endingFY23FY24FY25FY26
Revenue₹609 Cr₹780 Cr₹818 Cr₹1.0k Cr
Operating profit₹63 Cr₹150 Cr₹184 Cr₹233 Cr
Operating margin10.3%19.2%22.5%22.5%
Interest₹13 Cr₹16 Cr₹27 Cr₹29 Cr
Depreciation₹16 Cr₹18 Cr₹20 Cr₹23 Cr
Net profit₹23 Cr₹109 Cr₹103 Cr₹138 Cr
Net margin3.8%14.0%12.6%13.3%
ROCE13.0%30.0%23.0%18.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹95 Cr₹95 Cr₹95 Cr₹94 Cr₹98 Cr₹99 Cr
Reserves₹91 Cr₹112 Cr₹137 Cr₹245 Cr₹706 Cr₹802 Cr
Borrowings₹125 Cr₹135 Cr₹154 Cr₹172 Cr₹324 Cr₹531 Cr
Other liabilities₹198 Cr₹187 Cr₹207 Cr₹228 Cr₹162 Cr₹208 Cr
Total liabilities₹509 Cr₹529 Cr₹593 Cr₹739 Cr₹1.3k Cr₹1.6k Cr
Fixed assets₹135 Cr₹144 Cr₹195 Cr₹218 Cr₹330 Cr₹580 Cr
Capital work in progress₹46 Cr₹52 Cr₹32 Cr₹42 Cr₹242 Cr₹73 Cr
Investments₹62 Cr₹59 Cr₹61 Cr₹61 Cr₹61 Cr₹70 Cr
Other assets₹265 Cr₹273 Cr₹305 Cr₹419 Cr₹659 Cr₹916 Cr
Total assets₹509 Cr₹529 Cr₹593 Cr₹739 Cr₹1.3k Cr₹1.6k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters trimmed −1.91 pp while the public added +0.94 pp. The shareholder count shrank 7% to 72,980.

Promoters
68.6%
FIIs
0.8%
DIIs
0.9%
Public
29.7%

Since Jun 2025

  • Promoters −1.91 pp
  • Public +0.94 pp
  • DIIs +0.88 pp

How it drifted, 12 quarters

Over this window promoters fell from 71.0% to 68.6% — −2.4 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 71.0%, Public 29.0%.Dec '23: Promoters 71.0%, DIIs 0.0%, Public 29.0%.Mar '24: Promoters 71.0%, DIIs 0.1%, Public 28.9%.Jun '24: Promoters 71.0%, FIIs 0.2%, DIIs 0.1%, Public 28.8%.Sep '24: Promoters 71.0%, FIIs 0.9%, DIIs 0.0%, Public 28.1%.Dec '24: Promoters 71.0%, FIIs 0.8%, DIIs 0.0%, Public 28.2%.Mar '25: Promoters 71.0%, FIIs 0.7%, DIIs 0.0%, Public 28.3%.Jun '25: Promoters 70.5%, FIIs 0.7%, Public 28.8%.Sep '25: Promoters 68.6%, FIIs 0.9%, DIIs 1.0%, Public 29.5%.Dec '25: Promoters 68.6%, FIIs 1.1%, DIIs 0.7%, Public 29.5%.Mar '26: Promoters 68.6%, FIIs 0.8%, DIIs 0.8%, Public 29.9%.Jun '26: Promoters 68.6%, FIIs 0.8%, DIIs 0.9%, Public 29.7%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Piccadily Agro above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Soon -N-Sure Holdings Limited 32.67%unchanged
Siddhartha Sharma 21.75%unchanged
Piccadily Hotels Private Limited 13.95%unchanged
Prachi Setty 0.20%unchanged
Piccadily Sugar And Allied Industries Ltd. 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹605, this stock must grow earnings at 28% every year for 7 years. Our analysis caps realistic growth at ~80%. At that growth it is worth ₹5808 — upside of 860%.

Growth the price implies
27.6% a year
for 7 years, fading to 4%
It has actually compounded at
80.4% a year
net profit, FY23–FY26 · EPS 79.8%
The gap
-0.5 pp
860% downside if it only repeats history
Price today ₹605.05 Value at the reference growth ₹5,807.54

Change the assumptions yourself →

Learn to analyse Piccadily Agro

Guides on how to read this kind of business and the numbers that matter.