Piccadily Agro Industries shares experienced significant selling pressure on Friday following the announcement of its September quarter (Q2 FY27) results. The Haryana-based company's stock plunged by 12.35% to a day low of Rs 518.55, nearing its 52-week low recorded earlier this year. While the stock recovered some ground, it closed down 6.63% at Rs 552.40 on the BSE.
Q2 FY27 Financial Overview
The market's reaction stemmed from a 12.74% year-on-year (YoY) decline in consolidated net profit, which fell to Rs 23.63 crore in Q2 FY27 from Rs 27.08 crore in the same period last year. This profit dip occurred despite a robust 19.4% increase in revenue from operations, which climbed to Rs 277.9 crore from Rs 232.7 crore in the year-ago quarter. EBITDA also saw a healthy rise of 9.6% YoY, reaching Rs 53 crore, supported by the overall revenue growth.
Distillery Drives Revenue Amidst Sugar Slump
A closer look at the segment performance reveals a stark contrast between Piccadily Agro's key business verticals. The distillery business emerged as the primary growth engine, with its top-line revenue soaring 30.5% YoY to Rs 271.3 crore. This segment now accounts for a dominant 97.6% of the company's total quarterly revenue, up from 89.3% in Q2 FY26, solidifying its position as the principal contributor to the company's financial performance.
Conversely, the sugar vertical faced a significant downturn. Revenue from the sugar segment slumped by a substantial 73.49% to just Rs 6.58 crore in Q2 FY27, a sharp drop from Rs 24.82 crore in the corresponding quarter of the previous fiscal year. Piccadily Agro Industries is known for its alcoholic beverage brands, including Indri Single Malt Whisky, Camikara Rum, Whistler Blended Malt Whisky, and Cashmir Vodka.