Piccadily Agro FY24 Result: PAT Jumps 354% YoY to Rs. 112 Crores; Annual revenue rises 30% to Rs. 829 Crores

Business Wire India
Piccadily Agro Industries Limited (PAIL), today reported revenue for the year ended March 31, 2024, of INR 829 crores up 30% from a year ago.

The company has achieved revenue of INR 285 crores with an unprecedented revenue growth of 37% YoY in Q4 and an increase in profitability of 585% YoY to INR 43.50 crores in Q4, showcasing its resilience and strategic prowess in navigating challenging market conditions.

67% of the revenue was contributed by the company’s distillery division, Piccadily Distilleries, makers of the award-winning single malt whisky Indri and Camikara rum.

Full Year Fiscal 2024 Financial Highlights

  • Revenue – INR 829 crores
  • Net Profit – INR 112 crores
  • Net Profit Margin – 13.53%, a growth of 249% from last fiscal year
  • EBITDA – INR 151 crores
  • EPS – INR 11.89, growth of 356% YoY

Fourth Quarter Fiscal 2024 Financial Highlights

  • Revenue – INR 285 crores
  • Net Profit – INR 43.50 crores
  • Net Profit Margin – 15.25%, growth of 400% YoY
  • EBITDA – INR 68 crores
  • EPS – INR 4.61, growth of 588% YoY
Key Highlights:

  • Indri Diwali Collector’s Edition 2023 was adjudged as the ‘Best Whisky In The World’ at the Whiskies of the World Awards 2023, beating global and reputed brands.
  • Crossed a historic milestone achievement of selling over 1,00,000 cases (9lts per case) in FY 23-24 to become the ‘fastest growing single malt whisky in the world.’
  • Captured 30% of the Indian single malt whisky market in India.
  • Becomes the largest exporter of Indian single malts from India with 35% share of total volumes.
  • Expanded domestic market presence to 21 states in India and to 21 markets overseas.
  • Expanded its presence at the global travel retail.
  • Introduced and opened CSD channel for Indri single malt whisky

Financial Outlook:

  • PAIL has set out an aggressive roadmap for a large expansion in the malt space in India and overseas.
  • The company envisions opening a distillery in Scotland.
Speaking on the results, Dharmendra Kumar Batra, Whole Time Director, Piccadily Agro Industries Limited, said “We’re thrilled to announce a phenomenal quarter, capping off a year of exceptional performance. Surpassing 1,00,000 cases at record speed, we’ve earned the esteemed title of the world’s fastest-growing single malt whisky. This achievement is a testament to the dedication and talent of our team. Looking forward, we’re energized by our future initiatives aimed at sustaining profitable growth and creating strong value for our shareholders.”
Stock Ticker: (PICCADIL | 530305 | INE546C01010)