Image Source

For the fiscal year that concluded in March 2024, Piccadily Agro Industries Limited (PAIL), the firm that produces the well-known single malt whiskey brand Indri, announced an annual revenue of ₹829 crore, a 30% increase.

With a net profit of ₹112.13 crore for the entire year, the profit from the previous year was over 3.5 times higher.

The past three months saw the most of the growth. The company’s earnings for the quarter ending in March 2024 was ₹43.5 crore, which represents a seven-fold increase over the net profit during the same period previous year.

Additionally, Piccadily Agro notified the markets that its Board of Directors has authorized a strategy to fund ₹1,000 crore through the sale of shares to qualified institutional investors (QIP) or the issuance of preference shares.

On April 12, the firm said that since the whisky’s inception in November 2021, it has sold over 100,000 cases, making it the fastest-growing single malt in history.

After winning the Best “New World” Whiskey title on the alcohol-beverage portal VinePair, Indri’s sales experienced a significant uptick.

Piccadily Agro Industries Limited Indri was recognized as one of the greatest at the Whiskies Of The World award event earlier in 2023.

Indri claims to have 30% of the Indian whiskey market and aims to rank among the top five whisky brands globally, following a seven-fold increase in sales in the second year.

By the end of March 2024, the closing cash amount with Piccaddily had increased from ₹3 crore the previous year to almost ₹13 crore.

In the past month, Piccadily Agro’s shares have increased by more than 74%.

Do follow Stockfinz for more updates on stocks and the share market.