By Priyanka Deshpande
CNBC-TV18.com
Published April 23, 2024
The shares of Piccadily Agro Industries Limited (PAIL), the company that makes the popular single malt whisky brand Indri, surged 74% in one month.
The company reported an annual revenue of ₹829 crore, which grew 30%, for the financial year ended March 2024.
Net profit for the full year stood at ₹112.13 crore, about 3.5 times the ₹24 crore profit a year earlier.
The company's profit for the January to March 2024 quarter was ₹43.5 crore, seven times bigger than the net profit at the same time last year.
The company also plans to raise ₹1,000 crore via issue of preference shares or through sale of shares to qualified institutional investors (QIP).
After a seven-fold growth in sales in the second year, Indri says it has captured 30% of India's whisky demand, and wants to become the one of the top five selling whisky brands in the world.
Earlier on April 12, the company declared that Indri had become the world's fastest-growing single malt ever after the company sold over 100,000 cases of the whisky since its launch in November 2021.
Sales of Indri got a big boost after the brand won the Best ‘New World’ Whiskey award from alco-bev platform VinePair.
Earlier in 2023, Indri got counted among the best at the Whiskies Of The World award ceremony.