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Piccadily Agro Industries Ltd (PICCADIL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 530305 NSE: PICCADIL Breweries & Distilleries | Small Cap | Piccadily Agro Inds Share Price

₹575.40 -4.05 (-0.70%)

As on 04-Jun'26 16:59

Piccadily Agro Industries Ltd (PICCADIL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 530305 NSE: PICCADIL Breweries & Distilleries | Small Cap | Piccadily Agro Inds Share Price

₹575.40 -4.05 (-0.70%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹5,672 Cr.
Current Price
₹575.4
52-Week Low / High
₹515 / 805
TTM EPS
₹14.2
TTM Sales
₹1,130 Cr.
Book Value per Share
₹91.6
P/E Ratio
40.64
In line with its 5-year historical median
Industry PE
54.3
Price to Book (P/B)
6.28
In line with its 5-year historical median
Price to Sales (P/S)
5.02
Higher than its 5-year historical median
EV/EBITDA
24.90
In line with its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
20.47%
Outperforms industry median
Return on Capital Employed (ROCE)
22.88%
Outperforms industry median
Return on Assets (ROA)
10.97%
Operating Profit Margin
22.6%
Net Profit Margin
12.79%
Gross Profit Margin
18.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
4.97%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
21.79%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-6.66%
Asset Quality
Promoter Holding
68.57%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹804 Cr.
Equity
₹98.6 Cr.
Face Value
₹10
All Time Low / High
₹0.12 / 1019.90

Piccadily Agro Industries stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Piccadily Agro Industries Ltd a good quality company?
Piccadily Agro Industries Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Piccadily Agro Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Piccadily Agro Industries Ltd vs industry peers?
Piccadily Agro Industries Ltd revenue CAGR is 15.42%, compared to the industry median CAGR of 15.31%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Piccadily Agro Industries Ltd?
Promoters hold 68.57% of the Piccadily Agro Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Piccadily Agro Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 51.3% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Piccadily Agro Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 7.7%12.6%6.2%8%8.9%13.5%17.1%13.2%36.5%22.9%-
Value Creation
Index
-0.5-0.1-0.6-0.4-0.40.00.2-0.11.60.7-

Growth Parameters

Sales 2713293343713994895746097798181,130
Sales YoY Gr.-21.4%1.5%11.1%7.6%22.5%17.2%6.2%28%5%-
Adj EPS 0.20.90.50.61.51.93.12.69.71114.2
YoY Gr.-437.5%-44.2%22.9%161%21.4%66.3%-15.8%270.2%13.6%-
BVPS (₹) 14.316.316.816.217.619.321.924.436.172.291.6
Adj Net
Profit
1.68.24.65.514.517.629.424.791.5104140
Cash Flow from Ops. -5.796.640.960.7-4.121.736.937.354.5-25.3-
Debt/CF from Ops. -27.61.33.52.2-30.65.83.74.13.2-12.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 13%15.4%12.6%5%
Adj EPS 60%48.2%52.5%13.6%
BVPS19.7%32.6%48.9%99.9%
Share Price 54.3% 106.8% 111.5% -2.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
1.25.62.93.59.110.115.111.33220.317.3
Op. Profit
Mgn %
8.714.47.87.410.110.512.110.419.522.620.8
Net Profit
Mgn %
0.62.51.41.53.63.65.14.111.712.712.4
Debt to
Equity
1.20.80.90.90.80.70.70.70.50.50.2
Working Cap
Days
186160183187179167164164156201117
Cash Conv.
Cycle
30395125264446565911154

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales271329334371399489574609779818
Operating Expenses + 248282308344359438504546628633
Manufacturing Costs527060626291116133148171
Material Costs167180225254269302342347357328
Employee Cost 8101012151822273142
Other Costs 20221316132723399292
Operating Profit 2347262740526963152185
Operating Profit Margin (%) 8.6%14.4%7.8%7.4%10.1%10.5%12.1%10.4%19.5%22.6%
Other Income + 7159031117
Exceptional Items 0000-2000290
Interest 15171617151614131628
Depreciation 11131313131315161819
Profit Before Tax 5192711254135148144
Tax 310-31-2712103640
Profit After Tax 285613182925112105
PAT Margin (%) 0.6%2.5%1.4%1.5%3.3%3.6%5.1%4.1%14.4%12.8%
Adjusted EPS (₹)0.20.90.50.61.41.93.12.611.911.1
Dividend Payout Ratio (%)0%0%0%0%14.30%26.80%3.20%7.60%0%0%

Valuation of Piccadily Agro Inds - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 135154159153167182207231341681
Share Capital 47959595959595959494
Reserves 885964597288112136247587
Debt +140110121106110106120146153290
Long Term Debt84392592029265259142
Short Term Debt567195979077949493147
Minority Interest0000000000
Trade Payables617510814912714411613211053
Others Liabilities 5684716555759184142139
Total Liabilities 3924234584734585085345927461,163

Fixed Assets

Net Fixed Assets +159152149148141135144195218282
Gross Block256262271283289297320386426510
Accumulated Depreciation97110122135148161176191208228
CWIP 304750464646522126182
Investments 58686868665960697781
Inventories101115132126148178174191196303
Trade Receivables1114224232515069137137
Cash Equivalents 12318520861847
Others Assets 322534242019454174130
Total Assets 3924234584734585085345927461,163

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -6974161-422373755-25
PBT 5195611254135148143
Adjustment 2041263030292929444
Changes in Working Capital -26391525-42-26-21-16-83-166
Tax Paid -4-1-4-1-3-7-12-10-15-46
Cash Flow From Investing Activity + -50-34-10-2-41-27-52-34-271
Capex -58-24-12-8-6-8-30-34-18-240
Net Investments 6-1000-07-1-9-8-4
Others 2-126123-8-9-27
Cash Flow From Financing Activity + 54-62-30-44-3-9-2212-10292
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 68-45-14-28119-326783
Interest Paid -14-17-16-17-15-16-14-13-16-28
Dividend Paid 00000-2-5-1-20
Others 0-000-0-000-0237
Net Cash Flow -20115-1214-12-211-5

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)1.165.592.943.558.2510.1315.1111.339.2620.47
ROCE (%)7.6512.556.288.9113.5217.1113.236.5222.88
Asset Turnover Ratio0.750.830.770.80.861.011.11.131.240.93
PAT to CFO Conversion(x)-312.138.210.17-0.311.221.281.480.49-0.24
Working Capital Days
Receivable Days8.2013.2019.1031.503430.903234.3045.4056.30
Inventory Days137.30116.20132.70126.80125.20121.20111.50104.6085.20102.80
Payable Days166.40138.30148.80184.70187.40163.90138.60130.60123.9090.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Piccadily Agro Industries Ltd FAQs

The current trading price of Piccadily Agro Inds on 04-Jun-2026 16:59 is ₹575.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Piccadily Agro Inds stood at ₹5,671.8 Cr

The latest P/E ratio of Piccadily Agro Inds as of 03-Jun-2026 is 40.64.

The latest P/B ratio of Piccadily Agro Inds as of 03-Jun-2026 is 6.28.

The 52-week high of Piccadily Agro Inds is ₹805.0 and the 52-week low is ₹515.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Piccadily Agro Inds is ₹1,130 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Piccadily Agro Industries Ltd is a average quality company.

The key valuation ratios of Piccadily Agro Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Piccadily Agro Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Piccadily Agro Industries Ltd

Piccadily Agro Industries, based in India, is a key player in the liquor industry. The company, rooted in agro-processing, now makes spirits. The company operates primarily in two strategic business segments: Distillery and Sugar, producing Malt Whisky, Cask Aged Rum, Extra Neutral Alcohol (ENA) and Ethanol. The company's extensive portfolio includes premium single malt whisky, blended malt whisky, premium sugarcane juice rum, and country liquor. With a strong emphasis on premiumization, the company has successfully positioned itself as a leader in the Indian single malt whisky market by leveraging its technical prowess and deep market insights.

It has launched brands like Whistler, lndri, Camikara and Cashmir. Each product has its own character and story, linked to its origins and careful making. The company's journey in the spirits market is a mix of tradition, innovation, and dedication to making great drinks. Each sip from the spirits is not just drinking alcohol. It's part of Piccadily Agro's diverse, flavourful journey in the world of spirits. Driven by a strong focus on innovation, premiumization and strategic capacity expansion, the company continues to build a future-ready business while creating long-term value for its stakeholders.

Business area of the company

The company is a prominent player in the premium spirit segment. The company has state-of-the-art manufacturing facilities, equipped with advanced technology, for the production of Malt Spirit, ENA and Ethanol.

Product Portfolio

  • Single Mal Whisky
  • Premium Sugarcane Juice Rum
  • Blended Malt Whisky
  • Cashmir Vodka

Milestones

  • 1994: Commenced operations with a sugar manufacturing unit
  • 2007: Commissioned a grain-based distillery
  • 2010: Established a m alt distillery and began barrel maturation
  • 2017: Entered the branded alcoholic beverage segment with the launch of Whistler
  • 2022: Introduced Indri single malt whisky
  • 2022: Launched Camikara 12-Year-Old aged rum
  • 2023: Expanded the Indri portfolio with Dru and Diwali 2023 Edition
  • 2023: Indri Diwali 2023 Edition received the World's Best Whisky Award
  • 2023: Introduced Camikara 8-Year-Old for International markets
  • 2024: Released Indri Diwali Collectors Edition 2024
  • 2024: Rolled out Indri City Series Editions
  • 2024: Launched Camikara 3-Year-Old
  • 2024: Fund raise and capacity expansion commenced
  • 2025: Launch of Cashmir
  • 2025: Launch of Indri Agneya & Dubai City Series

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