Profit Jumps 92% On Strong Distillery Growth
Piccadily Agro Industries Ltd., a leading premium alco-bev manufacturer, saw its net profit nearly doubling in the October-December quarter. The surge was driven by the rising demand for its single-malt and premium portfolio.
The company’s revenue from operations stood at Rs 313.8 crore, registering a robust 52.5% growth over Rs 205.72 crore in the year-ago period.
The earnings before interest, taxes, depreciation and amortisation increased to Rs 79.7 crore, from Rs 50.87 crore, up 56.7% year-on-year. This reflected improved operating leverage and a richer product mix.
The liquor-maker’s profit before tax rose sharply by 85.3% year-on-year to Rs 68.03 crore, whereas the net profit jumped 92.2% to Rs 48.14 crore.
The net profit margin grew from 12.18% to 15.3%, marking a 26% rise. The earnings per share climbed to Rs 4.89, up 83.8% as against the year-ago period.
On a sequential basis, Piccadily’s Q3 revenue grew 34.9%, while the net profit increased 80.9%, thereby underlining sustained momentum across operations.
The distillery segment remained the key growth driver, contributing Rs 284.97 crore or 91% of total revenue, with 54.9% year-on-year growth.
9M FY26 Performance
For the nine months ending December 2025, the company reported revenue of Rs 775.5 crore, up 26.2% year-on-year. In the same period, profit before tax rose 43.6% to Rs 129 crore, and profit after tax increased by 45.7% to Rs 93.65 crore.
“Piccadily’s performance reflects its successful transformation into a fully integrated, brand-led premium spirits player. Higher contribution from its premium portfolio continues to drive margin expansion, supported by strong consumer demand,” the company said in a release.
The ongoing expansion plan-including capacity enhancement at its Indri facility, the greenfield facility at Mahasamund, Chhattisgarh, and continued investments in barrels and maturation infrastructure-remains on track, positioning Piccadily for achieving its long-term goals, it added.
Commenting on the results, Piccadily’s Chief Financial Officer Natwar Aggarwal said, “Our Q3 FY26 result shows the strength of our brand-led strategy and disciplined execution. With revenue growth of over 52% and PAT growth of more than 92% year-on-year, we are seeing the benefits of premiumization and scale in our distillery business. As new capacities come on stream and our aged inventory matures, we remain confident of delivering 3-4X growth over the next three to five years while building Indri into one of the world’s leading single-malt whisky brands.”
Piccadily has established a domestic presence across 27 Indian states and is currently present in 29 international markets and 28 travel retail outlets, with Indri, Camikara and Cashmir – all in the super premium luxury categories gaining traction in many global geographies. To support this scale, the company is expanding capacity, looking for new synergies along with strengthening its leadership and operating teams across key functions.
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