To meet the growing demand of Indri single malt and Camikara rum, Piccadily Agro Industries Limited (PAIL) is set to drive a ₹1000 crore expansion plan comprising (i) brownfield expansion of its distillery and malt facilities at Indri, Haryana; (ii) a greenfield expansion at Mahasamund, Chhattisgarh, and (iii) creation of its first international distillery at Portavadie, Scotland. In September, 2024 PAIL raised ₹262 crores through preferential allotment from marquee investors, while an additional ₹50 crores has been infused by the company’s promoters. The balance funding shall be tied up through a combination of internal accruals and debt. The expansions are expected to be completed over the next 24 months, with phase 1 of the total expansion at Indri plant of malt and ethanol reaching completion in early 2025.
Key highlights of the expansion:
A. Boosting Distillery at Indri and Product Portfolio: Piccadily will expand its production capabilities, increasing total capacity to 250 kilo litres per day (KLPD) of its distillery Indri, Haryana. This includes boosting ENA/Ethanol production to 220 KLPD and scaling up the malt production from 12 KLPD to 30 KLPD. Additionally, the company is expanding its warehousing infrastructure to accommodate over 1,00,000 barrels. These developments will enable Piccadily to meet the growing demand for premium whisky both in India and international markets, while also fuelling the creation of new products and expanding its portfolio into other spirit categories. Piccadily is also set to launch a state-of-the-art visitor centre at Indri, aimed at whisky tourists and connoisseurs eager to explore the nuances of whisky making. This new initiative will enhance the overall visitor experience, complementing the company’s expansion efforts in the premium spirits industry.
B. New Distillery in District Mahasamund, Chhattisgarh: As part of this expansion is setting up a green field state-of-the-art distillery in District Mahasamund in Chhattisgarh, with a production capacity of 210 kilo litres per day (KLPD) comprising ENA/Ethanol production of 180 KLPD and malt production of 30 KL PD. After getting all statutory permissions, the project is underway and is on target for scheduled completion with 30% of the work already completed, and the remainder of the project to be completed by Q2 FY 25-26. This facility will further strengthen Piccadily’s presence in the premium spirits market.
C. Distillery in Portavadie, Scotland: With HMRC approvals in place for commencing the project on a 58 acres land parcel, Piccadily is making its entry into the global arena by establishing its first international distillery in Portavadie, Scotland following its long-term goal of becoming an international alco-bev company— this is an industry first for any Indian alco-bev company. This strategic move positions Piccadily as a prominent player among Indian distillers on the global stage, producing exceptional Scotch-style malts and reinforcing India’s growing influence in the premium whisky industry. The Portavadie site will also feature a world class visitor centre, designed to offer whisky enthusiasts and connoisseurs an immersive experience into the art of Scotch whisky making, further elevating the brand’s international appeal.
“We are entering a transformative phase in our growth journey. This expansion is not just about scaling up our operations; it’s about reshaping the future of premium Indian alco-bev spirits on a global stage. With this expansion in India, we are set to increase our overall production capacity to 460 kilo litres per day (KLPD) including 60 KLPD of malt spirits, ensuring we are well-positioned to meet the rising demand for both Indian and international markets. Our expansion across India and Scotland demonstrates our ambition to redefine the global spirits industry while solidifying India’s position as a producer of highquality, premium alcohol.” said Siddhartha Sharma, Promoter, Piccadily Agro Industries Limited.
This expansion comes at an opportune time when the spirits industry is witnessing a growing demand of premium craft offerings within India and for Indian spirits globally. Piccadily’s Q2 FY25 results showcase the remarkable growth potential of India’s premium alcoholic beverage sector. The company posted an impressive revenue growth of 63.45 % year-over-year, while the EBITDA grew by 74.45% reflecting both the company’s strength and the growing global interest in Indian spirits.
