New Delhi, 21st January 2026: Piccadily Agro Industries Limited (PAIL), recognized as India's fastest-growing premium alcoholic beverage manufacturer, has announced exceptional third-quarter results for the fiscal year 2026. The company's performance was significantly bolstered by escalating demand for its single malt and premium product ranges, leading to substantial growth across key financial metrics.
Financial Performance Highlights for Q3 FY26
The company demonstrated remarkable year-on-year improvements in its financial indicators during the quarter. Revenue from operations reached ₹313.80 crore, marking a robust increase of 52.5% compared to ₹205.72 crore in Q3 FY25.
Profitability and Efficiency Metrics
EBITDA rose to ₹79.70 crore from ₹50.87 crore, reflecting a 56.7% growth year-on-year. This improvement underscores enhanced operating leverage and a more profitable product mix. Profit Before Tax (PBT) witnessed a sharp rise of 85.3% to ₹68.03 crore, while Profit After Tax (PAT) nearly doubled to ₹48.14 crore, registering an impressive 92.2% increase.
Net Profit Margin expanded from 12.18% to 15.3%, indicating a 26% improvement. Earnings Per Share (EPS) climbed to ₹4.89, up by 83.8% compared to the same period last year.
Sequential Growth and Segment Analysis
On a sequential basis, Q3 FY26 revenue grew by 34.9% over Q2 FY26, with PAT increasing by 80.9%, highlighting sustained operational momentum. The distillery segment remained the primary growth driver, contributing ₹284.97 crore, which accounts for 91% of total revenue. This segment experienced a 54.9% year-on-year growth.
Nine-Month FY26 Performance Overview
For the nine months ending FY26, Piccadily Agro reported consolidated revenue of ₹775.50 crore, up 26.2% year-on-year. PBT stood at ₹129.00 crore, reflecting a 43.6% increase, while PAT reached ₹93.65 crore, up 45.7%.
Strategic Expansion and Future Outlook
The company's performance is attributed to its successful transition into a fully integrated, brand-focused premium spirits entity. Higher contributions from the premium portfolio continue to drive margin expansion, supported by strong consumer demand.
Piccadily's ongoing expansion initiatives include capacity enhancement at its Indri facility and the development of a greenfield facility in Mahasamund, Chhattisgarh. Continued investments in barrels and maturation infrastructure remain on track, positioning the company to achieve its long-term objectives.
Management Commentary
Natwar Aggarwal, Chief Financial Officer of Piccadily Agro Industries Limited, commented on the results, stating, "Our Q3 FY26 results demonstrate the efficacy of our brand-led strategy and disciplined execution. With revenue growth exceeding 52% and PAT growth surpassing 92% year-on-year, we are reaping the benefits of premiumization and scale in our distillery business. As new capacities become operational and our aged inventory matures, we remain confident in delivering three to four times growth over the next three to five years, while establishing Indri as one of the world's leading single malt whisky brands."
Market Presence and Brand Portfolio
Piccadily has established a domestic footprint across 27 Indian states and is currently present in 29 international markets, along with 28 travel retail outlets. Brands such as Indri, Camikara, and Cashmir, all positioned in super-premium luxury categories, are gaining traction in numerous global regions.
To support this scale, the company is expanding capacity, exploring new synergies, and strengthening its leadership and operational teams across key functions.
Company Background
Piccadily Agro Industries Limited (PAIL) is a publicly listed company operating in two strategic segments: Distillery and Sugar. Its manufacturing facilities in Indri, Haryana, and Chhattisgarh are equipped with advanced technology for producing Malt Spirit, ENA, Ethanol, and White Crystal Sugar.
PAIL has emerged as a prominent player in the premium spirits category, with brands like Indri Single Malt, Camikara Aged Rum, Cashmir Vodka, and Whistler Whisky earning recognition in both domestic and international markets. The company has positioned itself as a leader in the Indian single malt whisky market, being recognized as the fastest-growing single malt whisky brand in 2024. It continues to focus on innovation, premiumization, and capacity expansion to sustain growth and deliver long-term value to stakeholders.
