Piccadily Agro To Invest Rs 1,000 Crore To Expand Capacity, Open Distillery In Scotland

Piccadily Agro Industries Ltd, maker of Indri Single malt whisky and Camikara rum, on Wednesday said it will invest Rs 1,000 crore to expand existing facility and open new plants, including a distillery in Scotland, to widen its play in the premium segment.

PAIL, which announced to raise Rs 312 crore to fund its growth plans, looks to expand its distillery and malt facilities at Indri, Haryana and set up a new facility at Mahasamund, Chhattisgarh.

Piccadily Agro will also open its first international distillery at Portavadie, Scotland, to bolster its premium spirits production, according to a company statement.

In September 2024, PAIL raised Rs 262 crore through preferential allotment from marquee investors, while an additional Rs 50 crore was infused by the company's promoters.

The remaining funding shall be tied up through a combination of internal accruals and debt, it said.

"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," PAIL promoter Siddhartha Sharma said, adding the company is entering a transformative phase in its growth journey.

The expansion projects are expected to be completed over the next 24 months. The first phase at the Indri plant will be completed in early 2025, said PAIL.

"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," he said.

As part of that PAIL will expand its production capabilities, increasing total capacity to 250 kilo litres per day (KLPD) of its Indri, Haryana-based distillery.

Additionally, the company is expanding its warehousing infrastructure to accommodate over 1,00,000 barrels.

"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 per day," it said.

For the Scotland facility, PAIL said, HMRC (HM Revenue & Customs) approvals are in place for commencing the project on a 58-acre land parcel in Portavadie.

Piccadily is making its entry into the global arena by establishing its first international distillery which is part of its 'long-term goal of becoming an international 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," it said.

The Portavadie site will also feature a world-class visitor centre for tourists to have an immersive experience into the art of Scotch whisky making and further elevating the brand’s international appeal.

PAIL operates primarily in two strategic business segments: Distillery and Sugar. The company reported revenue of Rs 828.13 crore in 2023-24.