IMFL Brand Revenue
₹250 crore
+67% YoY
Q4 IMFL brand portfolio revenue grew from ₹150 crore to ₹250 crore YoY.
PICCADILYAGRO
Other
15 May 2026
Piccadily Agro Industries Ltd — Q4 FY26
Piccadily Agro reported a strong Q4 FY26 with standalone revenue of ₹364 crore (+33% YoY) and PAT of ₹46 crore (+14% YoY).
✓ Verified against BSE filing
2-Minute Summary
✦ AI-Generated from Full Transcript
Piccadily Agro reported a strong Q4 FY26 with standalone revenue of ₹364 crore (+33% YoY) and PAT of ₹46 crore (+14% YoY). The IMFL brand portfolio surged 67% YoY to ₹250 crore, driven by Indri, Kamikara, and Whistler. EBITDA margin contracted ~300bps YoY to 17.3% due to sugar segment weakness and mix shift, but full-year alcobiz EBITDA margin remained healthy at 31.5%. Management guided for 60-70% revenue growth in FY27, underpinned by recent capacity expansions (Indri distillery scaled to 220 KLPD, Chhattisgarh greenfield commissioned) and new product launches. A demerger of the sugar business is underway to sharpen focus on premium alcohol. Key risk: input cost inflation from glass packaging (up 40-50% due to geopolitical tensions) may pressure margins if sustained.
Key Numbers
Indri Volume Growth (FY26)
16%
+16% YoY
Indri single malt volume grew 16% in FY26, constrained by supply; capacity now expanded.
Barrel Count
85,000
+42% YoY
Maturation barrels increased from ~60,000 to 85,000; targeting 100,000 in FY27.
CSD & Export Share
55%
flat
CSD/para contributes 30%, exports 25% of IMFL revenue; targeting 50% exports in 3-5 years.
Management Guidance
FY27 Revenue Growth 60-70%
Management expects overall alcobiz revenue to grow 60-70% in FY27, driven by capacity utilization and new products.
Management guidance revenueIndri Plant to Add ₹250-300 Crore in FY27
The expanded Indri distillery is expected to generate additional revenue of ₹250-300 crore in FY27.
Management guidance revenueChhattisgarh Plant Revenue ₹300-400 Crore in FY27
The greenfield distillery in Chhattisgarh (200 KLPD) is expected to generate ₹300-400 crore revenue in FY27.
Management guidance revenueEBITDA Margin to Remain Similar or 50bps Higher
Management expects EBITDA margin to be similar to FY26 (23.4%) or improve by up to 50bps in FY27.
Management guidance marginsKey Risks
Glass Packaging Cost Inflation
Glass packaging prices have risen 40-50% due to geopolitical tensions; management has short-term arrangements but may need to pass on costs if sustained.
medium · analyst_questionSugar Business Margin Drag
Sugar segment EBITDA margin fell from 11% to 2% YoY, impacting overall margins; demerger may take time.
medium · data_observationWorking Capital Increase
Short-term borrowings jumped 132% due to higher receivables and malt inventory; management expects normalization in FY27.
low · analyst_questionNotable Quotes
We see a growth of 60 to 70% in our alcobiz business keeping in mind the growth of our current portfolio, there are lot of new products pipeline which will add to it.
We don't do any bulk malt sale. It will all for bottling for our flagship premium brands.
We were constrained with supplies as you know we've expanded our capacities and we foresee the demand for Indri far more than we could supply in earlier stages.
Frequently Asked Questions
What was Piccadily Agro Industries's revenue in Q4 FY26?
Piccadily Agro Industries reported revenue of ₹335 Cr in Q4 FY26, representing a +33% change compared to the same quarter last year.
What guidance did Piccadily Agro Industries management give for FY27?
FY27 Revenue Growth 60-70%: Management expects overall alcobiz revenue to grow 60-70% in FY27, driven by capacity utilization and new products. Indri Plant to Add ₹250-300 Crore in FY27: The expanded Indri distillery is expected to generate additional revenue of ₹250-300 crore in FY27. Chhattisgarh Plant Revenue ₹300-400 Crore in FY27: The greenfield distillery in Chhattisgarh (200 KLPD) is expected to generate ₹300-400 crore revenue in FY27. EBITDA Margin to Remain Similar or 50bps Higher: Management expects EBITDA margin to be similar to FY26 (23.4%) or improve by up to 50bps in FY27.
What are the key risks for Piccadily Agro Industries in FY27?
Key risks include Glass Packaging Cost Inflation — Glass packaging prices have risen 40-50% due to geopolitical tensions; management has short-term arrangements but may need to pass on costs if sustained.; Sugar Business Margin Drag — Sugar segment EBITDA margin fell from 11% to 2% YoY, impacting overall margins; demerger may take time.; Working Capital Increase — Short-term borrowings jumped 132% due to higher receivables and malt inventory; management expects normalization in FY27..
Did Piccadily Agro Industries meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Piccadily Agro Industries Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.