Indri whisky's approval for CRPF Depots sends this alcohol stock soaring 5%

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Piccadily Agro share price surged up to 4.99 per cent at Rs 788.45 per share on the BSE in Thursday’s intraday deals. This came after the company’s two main whiskey brands got approved for supply to Central Armed Police Forces (CRPF) canteens.

The company’s fastest-growing single malt whisky, Indri and the blended malt whisky - Whistler will be now supplied to 98 CRPF depots across the nation. This includes central reserves forces including the CRPF,BSF, SSB, and ITBP, the company said in an exchange filing on Wednesday. 

This comes close on the heels of approval received from Canteen Stores Department (CSD) also, which came in March 2024. 

“Following widespread acclaim in global markets such as the US, the UK, and Dubai, Indri along with other two brands will now be accessible to personnel in the Paramilitary canteens throughout the country, marking a significant milestone in the brand's growing presence and recognition,” the company said.

On a standalone basis, the company reported a total Income of Rs 209 crore in the quarter one of financial year 2024-25 (Q1FY25), down 8.8 per cent year on year. The net profit came in at 21.1 crore up 31.1 per cent year on year. 

Ebitda (Earnings before interest, taxes, depreciation, and amortisation) rose 14.6 per cent to Rs 28.62 crore from Rs 24.96 crore, improving the Ebitda margin to 13.69 per cent from 10.90 per cent. Earnings per Share (EPS) grew by 27 per cent year-over-year to Rs 1.52.

In Q1FY25, revenue from the distillery vertical increased by 12.9 per cent to Rs 119.23 crore, driven by premium alco-bev brands. Premium brands saw a 36 per cent rise in sales volume and a 113 per cent increase in revenue year-over-year. Indri single malt's sales volume surged 236 per cent, from 7,371 cases to 24,733 cases.

The company has a total market capitalisation of Rs 7,227.33 crore. Its shares are trading at a price to earnings multiple of 61.59 times with an earning per share of Rs 12.19 per share.

At 12:19 PM; the share price of the company was trading 1.47 per cent higher at Rs 762. By comparison, the BSE Sensex was trading 0.23 per cent higher at 81,977 levels. 

The company manufactures white crystal sugar using sugarcane from surrounding rural areas and produces Rectified Spirit, Carbondioxide Gas, and Extra Neutral Alcohol (ENA) from molasses, rice, wheat, and pet malt ethanol. Their plant is located in Bhadson, Haryana.